I'd call that a complete lack of perspective tbh. A highly revisionist account, that seems to omit all of the key details. I wonder why?
Kenwright was already on the board, he essentially bought out Johnson with the help of his friends (some already on the board, some new to it), as he had nothing like the personal wealth to acquire those shares. Then, mysteriously, even though football was awash with (TV) money for the first time in decades, Everton were still somehow completely skint..... posting negative net spends for over a decade, and still accumulating more and more debt in the process. Other clubs were updating or moving stadium, and still managing to spend more on players than Everton FC (and not all had rich sugar-daddies). Fortunately for EFC, Moyes was able build decent sides on an absolute shoestring, but we had to sell our wonderkid just to survive. In fact, he essentially had to sell to buy throughout his tenure.
The Board's job was to manage the financials, provide funding for the manager and to maintain and enhance the club's infrastructure to allow the club to compete. In that whole time our net spend was amongst the lowest in the Premier league, and we spent comfortably the least on our stadium of practically every club in England. So the board completely failed in both of its key roles and responsibilities throughout.
Repeatedly, AGMs were full of questions about mysterious "other operating costs," as Kenwright failed to explain where the money was going.
Stadium Debacle No.1: To great fanfare, Kenwright anounced the Kings Dock, with ring-fenced finances for the club's meagre contribution, to a project largely funded by outside enabling developments on one of the city's prime locations. When the club failed to produce their funds, one of the board members offers to cover the cost to get this important project over the line, but in the ensuing power struggle, the opportunity of a life-time is completely squandered...... just so Kenwright could maintain his personal position. Next thing we know, the Greggs are paid off and "new friends" are acquired in the shape of Earl and a shy silent partner who can't be named, but we're told is a "great friend" of Everton Football Club. Subsequent AGMs fail to yield answers about the collapsed project, and it is just swept under the carpet as if it never happened. The lost opportunity cost of this sad episode is absolutely staggering and condemned our club to decline.
More seasons pass. Still the club haemorrhages money, and Moyes continues to paper over the cracks, shopping in the bargain basement, often selling on his best discoveries to keep buying and fielding a good side.... largely achieving decent league positions despite the board, and certainly not because of it.
Stadium debacle No.2. Out of nowhere, the monster known as Destination Kirkby raised its ugly head. Prompted by who? Perhaps the shy silent partner wants payback by way of a massive out-of-town retail development (that he cannot possibly have without a major enabling "community-led" development) to add to his portfolio of business shame. We all know what happened next.... all the lies and bluster were slowly stripped away, and then fully exposed by the public inquiry, and the "shed in the shopping park" disappeared without trace.... as did the "friends" who replaced "friends" on the board.
More years passed, more AGMs failed to explain ever increasing "more operating" costs. EGMs even come and go as frustrated shareholders try to demand answers..... for the first time in the club's history AGMs are cancelled as Kenwright is increasingly unable to fob the fans off. We even had to sell off training grounds and other property assets just to stay afloat..... while Moyes soldiered on, on the meagre crumbs he generated himself..... until he'd had his fill. Despite the obvious constraints over a very long period, he left the club with a very strong side. The new manager was afforded the luxury of being able to add a very strong forward to that team, and the team prospered. Unfortunately, it didn't last long, and within a couple of seasons, the downward spiral was already gathering pace. The finances were terminal, and there was no Moyes to build with a zero budget. The new training ground had to be sold back to the council and rented.
When Moshiri came in, the first thing he had to do was completely refinance the club, paying off multiple debts/loans, followed by phased capitalisation of ongoing debts of a club that was no longer sustainable. The club had been part of the big 5 and the prime driver for the Premier League in the early 90s. Just over 20yrs later, we had become make-weights in the most dilapidated stadium in the country. Miles behind most of our contemporaries by every metric (except in terms of history and loyalty and resolve of its fanbase).
Kenwright was the ONLY common denominator throughout the club's decline. While the club's debts and the board's impotence/incompetence grew over those years, he somehow managed to acrue a shareholding with a value that appeared to be multiples of his own external personal wealth. All while unaccountable "other operating costs" and associations/dirty dealings with Philip Green and other unsavoury characters went largely unexplained for decades. Were Everton just the best pension fund ever for a carpet bagging board..... who got away with it on the strength of warm platitudes about the boy's pen and Uncle Cyril's cross bar?
