Julius Geezer
Player Valuation: £2.5m
On a brighter note , Coronation Street are to do a one off speial episode about Betty (rip) Bill is going to be in it.
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While Learner continues to transfer some club fixed assets to his parent company in return for payment of some promissory notes and the club also pays his company interest on the rest of the notes, can you imagine the reaction if that happened here. Its the perfect pyramid scheme and no one seems to have cottoned on to it.
Its a matter of time until their relegated and smack Leeds mark 2.
doesn't he drive that black talking car that used to be on telly years ago......with the cool front lights ?
TheFinnFan
Finners
how are villa fans reacting to this situation?
davek
Player Valuation: £150m
Whatever way you cut it mate, you and Damon were claiming we were safe moving forward with no need to dump players overboard to survive. That was completely and utterly wrong - regardless of whether that came to pass as a result of banks getting panicky with the club or not - and the pair of you might have the good grace to at least acknowledge it. Part of the panic was that the board ran up borrowings secured against revenue we were to recieve a couple of years ahead, and for a club of our stunted commercial development and a boardroom full of people with a track record of not investing, the financial house of cards was crashing to the floor...that's why we had the great firesale of 2011.
Still, at least you've responded to the charge overnight. Poor old Damon cant even bring himself to return to the subject.
Lol!
If you can find me the quote saying we had no need to dump players ill admit i was wrong happily!, i think after last Jan it was pretty evident we overshot the wage bill. I think its a bit misleading saying there was a firesale their weas clear context with Arteta and Pienaar, but safe to say we needed to reduce the wage bill on players like Yak, Vaghan, Beckford, Yobo etc. Equally we have seen reinvestment recently, wheather its a club recycleing a club needing to go through a measure of austerity to cut costs remans to be seen, the next set of accounts will tell us an awfull lot in terms of reduction of wages and overall debt. I dont think thats the sceario either in regard to securing the loan due against future revenue. I reinterate though the club isnt on the brink as was your point of view!
davek
Player Valuation: £150m
April 2010:
Damon:
"The mere fact that say compared to Villa, Everton's COST CONTROL has been tight and hasn't been allowed to spiral is a good thing. It makes us a more viable business because when costs inflate, they are very difficult to get back under control without say: doing a fire sale, losing far more long term and therefore damaging the club. I'd argue that given the fact that unlike other clubs Everton haven't ballooned their wage:turnover or debt level then YES WE CAN continue as suggested. We do not need to sell or cut costs."
You in response:
"Have to say i agree with Matthew on almost all of his points above, i can see the summer being a difficult one for almost all PL clubs, with fees and wages contracting everywhere bar the very top. In fact their wont be much movement at all and the bargain basement is likely to be overcrowded with shoppers this year. The burden of debt isnt sustainable for almost all PL clubs -Credit isnt readily accessable even if you can come acorss it your paying a mega rate of intrest. Yet we are nicely poised to sustain the impending storm with our cost vs turnover ratio, if we continue to manage the club as we have. In footballing terms we have a good young squad sprinkled with wiley old heads - we can be more then competitive with what we have and an astute small purchase or a loan. Speaking frankly Everton are in one of the best positions in the league to weather the impending storm."
Ergo: we had no necessity to dump players.
Quite obviously, in retrospect, we weren't in that position where we could keep the squad together as we weren't, in fact, "in the best position in the league to weather the impending storm", and the idea we had no need to cut costs is now risible in the light of what happened over the following 12 months.
It's the Financial Review team's 'Chamberlain back from Munich' moment. The calculations were way off. You both made calls based on what was going on around Everton at other clubs and couldn't see that our own house was smouldering and about to catch fire.
http://www.grandoldteam.com/forum/t...and-ownership?highlight=financial+review+team
That's one hell of a haymaker from Davek there.
scratches head...this is all too complicated for me...are we being sold ffs
Davey boy just smashed the Review Team into hibernation there.
kenada_blue
Welcome to Barcelonaton FC
"I like these calm moments before the storm"
Phenom
Player Valuation: £70m
Played a blinder there FairPlay.
The point still stands though and i stand by it, as a buisness we could have afforded our cost base had the 13 mill of a loan not been called in. Fundamentaly the buisness could afford its cost base. The comments were made in April the heavy lifiting had already been done really in Jan. I dont think there was a fire sale to be honest Arteta being the only player of note going. I am led to believe the intention was for Arteta to stay, he asked to leave, Yak was always going and in essence gone in Jan, Beckford was on peanuts really so his wages wouldnt have sunk the battle ship, i think clearly Davey didnt fancy him lets be honest we all knew Yak, Yobo, Vaughan were not part of the long term plans - we were making threads about how much we would get for them all summer. In essence i called it, apart from Arteta, keep what we had bar the low hanging fruit and add a few clever loans, circa Drenthe/Strauq. Im not saying the threshold wasnt maybe lower because of their high wages but hardly a fire sale with Arteta really the only regular on the team sheet. I think the definition of a fire sale would have seen Rodwell, Jags, Baines, Mofro and anything not nailed down going - i believe we turned down bids.
To be honest i think Jan was the devastating month and when we took a step back for me in a footballing sense and a step forward fianancialy in terms of cost cutting, but honestly i didnt expect Arteta to go in the summer, i tend to think it was more a footballing/choice descison rather then a financial one, i dont think it was planned or anticiapted - though i think the econmic moons alligned.
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