Home » Fan Articles »
EFC board want donation not new ownership
Why can’t Everton find a buyer?*
Most say it’s because of the stadium issue, Goodison doesn’t make enough money in comparison to other Premier League clubs and it needs to be redeveloped; alternatively the club can move to a new stadium. Solve this and a change in ownership will follow and a bright future will follow…we hope.
Personally I’m not convinced the state of the stadium is a stumbling block to a potential sale, neither is sharing a city with the reds.
In the end it comes down to price and price alone, the board are asking for far too much money for a club that has no assets beyond the players contracts.
The asking price is quoted to be £120 million to £180 million and that’s a 400% to 500% mark up on the clubs valuation in 1999; when Bill Kenwright, Paul Gregg and Jon Wood bought the club from Peter Johnson for 20 million, valuing the club at 30 million. The twelve years of Kenwright and company that have followed have been characterised by failure and stagnation, most notably a failure to resolve the stadium situation twice (Kings Dock and Kirkby), increased debt and stagnant revenues. The only strategy that the club has followed is one of asset utilisation, from the Kirkby inquiry:
“This asset utilization and disposal plan that has been adopted by the board, it can’t be sustained forever can it?” ”No” came the reply. “It’s inherently unsustainable, won’t the assets run out and the loan repayments overwhelm the clubs ability to provide sufficient funds to obtain better players?” “We have a highly qualified finance team and a good relationship with the bank. That wouldn’t be allowed to happen” replied Robert Elstone.
Recent events suggest that this good relationship is at an end.
If the board wanted to get a 500% return they should have done something to increase the value of their shares, by developing a business plan other than asset utilisation and resolve the stadium problem via redevelopment or relocation, they have failed to do both.
Their failure has left the club in a desperate situation trapped in a stadium that does not generate enough income and fourteen mortgages that are eating away at the clubs income leaving it unable to compete in the transfer market.
12 years of failure and they want a 500% return for making things worse?
For 180 million you get a debt laden, asset-free football club with a dilapidated stadium, requiring hundreds of millions more of your money to improve its team, stadium and develop a viable business plan. At that price you won’t get many takers, but apparently there has been one interested party according to BBC Northwest tonight, that went as far as due diligence, before collapsing for reasons that are not known.
Everton Football Club is not in good health and is in desperate need of investment that the current board simply cannot provide; a change of ownership is required and the price is the only stumbling block. The current board and its shadow director cannot justify that price considering the clubs current condition; they have to lower it now for the good of the club.
*I use term buyer because the investment that the board want is a donation.
David O’Keefe
FOLLOW SOS1878 ON TWITTER
Leave a Comment
Loading ...
28 Comments
Brilliant.
Are you making these values up?
Where are you getting them from?
Everton are one of the biggest clubs in England, a new stadium would see us go a long way. Of course people would want to buy Everton ahead of Blackburn, Villa, Fulham etc who hve all been bought but obviously the price isn’t right. The price the club need to set is a price that would represent value for money not some fairy tale figure.
Kenwright put your shares up for sale for what you got them for as you’ve only managed to make us worse, youdont deserve to make a pennyout of this club and it’s fans.
What a knob
Typical negative “Toffeeweb type” lies and spin. NOBODY selling any business would just “name a price”. No such figures have ever been stated by the Board to be an “asking price”. The £120 mil figure emerged in the press as an estimate by a third party independant financier as to what the asking price SHOULD BE in todays market. It INCLUDED the cost of taking over or paying off all of the existing loans. O’Keefe. you are a moron.
Are you sure you dont need help ie straight jacket and padded cell!!!! Where you get these figures from god knows do us real blues a fav go across park with them clowns you will fit in well there!!!
Considering the constant fuck-ups this charlatan Kenwright has made,you’d have to be out of your mind to handover countless millions to that cunt and let him get on with it.
But this man is such a fantasist he really believes there is someone out there that will do this and that’s why he’s determined to cling on.
I detest this phoney liar with a passion and can’t wait to see the back of him. Evertonian my arse. He does what’s best for Bill Kenwright,not what’s best for Everton Football Club.
He’s a cunt of the hightest order.
RP. You’re the worst type of blue about. I fucking hate those who tell you to go across the park if you don’t agree with them. It proves you don’t have much of an argument.
Anyone who still supports BK and his cronies in the boardroom is clearly a deluded idiot.
I can’t believe how many ‘Blues’ are anti-Everton…There’s the Ossie-haters…Vic-haters….Mikel-haters…Cahill-haters…Beckford-haters…Hibbert-haters…Moyes-haters…and of course the Kenwright-haters..etc, etc…You should all be ashamed of yourselves. You think you know it all and you know fuck all! You see a small proportion of what goes on at a club and guess the rest, then you make hateful comments about the club that I love. I back the chairman, he’s done wonders for us and if he gets the investment he’s looking for I hope he stays on as chairman…he’s blue through and through. Moyes has worked wonders for us as well…he’s a legend! Of course I get frustrated at us not winning anything for a while, but I’m not deluded…I can see that there’s no magic formula…we need cash!! Get off the players/managements backs and start supporting them instead…Some of the comments on these so called ‘fans’ sites turn my stomach!! Toffeeweb et al have been removed from my favourites…Blue Kipper is the only site that still has a realistic outlook..they get behind the team and they have a laugh whilst doing so. I’m Everton till I die..I cried when Dunc played his last game against WBA…I cried when Dunc walked out against City, and I cried when I heard his speech about the city and the club….he’s got blue blood. The players don’t criticise the manager or the board…it’s a pity more of the fans can’t follow suit!! COYFB!!! And as for this Evertonians for change bollocks…fuck off you fuckin traitors…you’re wannabe mancs with yer shite scarves!!! Anyone who doesn’t back us can fuck off!! FTRS!! ETID!! IMWT!!
Big Dunc. Considering we average 36-37,000 having won nothing over the last 16 years i don’t think you have any right to go round preaching to people about supporting the club.
You say Bill Kenwright is blue through and through. So fucking what? I’m blue through and through but it doesn’t mesan i should be running the club now does it?
As for Moyes being a ‘legend’. On what basis? Does he compare to REAL managerial legends at Goodison like Harry Catterick and Howard Kendall who won things? No.
As for the players not criticising the manager or our hapless board,well they are not likely to being paid employees.
As for you ‘not being deluded’, you clearly are. You are just another whopper who is lapping up mediocrity as success.
Fans like you are a disgrace to ‘NSNO’. And as for you yelling because Dunc came on the pitch….give me strength.
Fantasy figures in a fantasy article. No basis of financial fact anywhere on there.
I’m all for opinions either way but if you’re going to write a definitive article on a subject, at least use facts or your argument becomes irrelevant.
Sorry BD but raising concerns about your club doesnt make you a bad supporter. As Sheedys fingers points out your not allowed an opinion if it doesnt agree with the one you have. What crap! It was Kenwright who came out with the need for his board to show transparency to be informative and to let the supporters know what is going on with there club. This lasted for all of ten minutes. Would the fans have been so patient if it was Johnson that made so many damaging mistakes? The man was crucified for even suggesting a move from Goodison, yet Kenwright has been given a mandate on two occasions and has screwed both up. We are in far worse debt than what Johnson left us with despite the fact Moyes has maintained decent finishes for most of the nine years he has been at the club and the fact that he hasnt had a penny to spend without sales of existing players for the last four years. The board has sold Bellefield and we only rent Fich farm. Added to the fact that we have several mortgages on Goodison, what do we have? As for the players not moaning about the board, really? Already Arteta, Howard, Distin and neville have spoke with the press about the need for genuine investment in the playing squad to remain in just 7th never mind to actually challenge for a top 4 place. Dont get me wrong Moyes has bought poorly at times when he has had money to spend. Yakubu, Bily, Heitinga, Koldrup and Davies immediately spring to mind, but I agree with him when he says that it wouldnt take a lot of money to transform the current squad from also rans to challengers. Sadly despite numerous player sales and increased money from Sky Moyes will be lucky to see ten million. That is kenwrights fault nobody elses.
big dunc, you are a fucking moron!!
@Sheedy’s fingers
Just turning up doesn’t mean they’re good supporters. I’m sick of hearing the players getting slaughtered, week in and week out. The vibe is too negative. What’s wrong with showing a little faith? We’re in the shit financially, but it’s no good crying over spilled milk. If you’re blue through and through, why aren’t you backing the team? Do you honestly think you know better than Moyes and Kenwright? Talk about deluded!! Why aren’t you running the club then? Cos you’re another fuckin nob’ed who thinks they know it all!! Do us all a favour and fuck off over the park with the other gobshites.
@tony
Well done with the spelling. Jog on nob’ed!!
As I suspected this is another shite site and this will be my last visit so yers can save yer breath. God help Everton if this is the support we’ve got.
good riddance dickbrain!!
Big Dunc. I noticed you’ve threw in the ‘fuck off across the park’ line. That’s from someone who can’t put up a decent argument.
Get up to your bedroom and go and have a wank over your Big Dunc posters. Oh and then go and cry over them. Boo Hoo!!
What a bad beaut you are lad!!!!
you should write stories for jackanory and get prince charles to read it out
My last time on this fuckin site Sheedys fingers ,tosser what makes you the one who is right! Some of us think that we would rather have Kenwright than some rip off owner!And as for Moyes god help us if he goes!!!!!!!!!! and as for fuck off across the park don,t go there jump in the fuckin river and drown
RP.
Got under your skin haven’t i?
Kenwright is a rip off owner you bad blert. Are you another one who gets a hard on everytime Bill goes on about how much he loves the club and reminds us for the 10 billionth time what a true blue he is? Beauts like you confuse his support for the club with him being the right man to run it.
Anyone who still back the Kenwright regime despite 12 years of fuck-ups right before their eyes is clearly a complete dumbo.
BD- the figures I used in the article are from Keith Harris (120 million) and Tom Cannon (180 million). They both gave those figures on Radio Merseyside a number of weeks ago. If you wish to call those individuals fantasists go ahead, but they are much closer to the club than myself.
I thought you knew this BD? as going by your contributions on the peoples forum, I had you down as clued up on the state of the club. If you didn’t listen to that broadcast, I can understand why you’re dispute the figures.
As for the rest of you take a deep breath and calm down.
The figures quoted I guess are entirely dependent on whether the Club is for sale or not. The Club CEO, when asked has given us two different answers. When questioned in the government enquiry on whether any of the major shareholders had their shares for sale, under oath he said “No”. When asked again by Evertonians for Change at the “Fans Conference” a couple of weeks ago, he said “Yes”. So what is the real answer? One made on oath, or one made in front of a group of Evertonians to a fan pressure group? If the Club really is for sale, or if some of the major shareholders are serious about selling their shares, and if they refuse to name an asking price, then I implore then to publically state their intentions. Robert Earle who hasn’t put a single penny, yet whose our second largest shareholder, into the Club should either put up or put in. The same can be said for Jon Woods.
What will it take for people like BigDunc to realise what kind of situation the club is in? The continual selling of our best players? Moyes to walk? Or relegation and administration? I might be scare mongering, but all three of those scenarios are likely over the next couple of years unless alternative funds are found, and realistically whose going to invest in us? Who is going to want to hand over millions of pounds to a Chairman with BK’s track record? Go back across the park? I say get your head out of the sand, wake up and realise that not everything is rosy at Goodison Park. Supporting the Club doesn’t mean blindly applauding the board, manager, players. Did you applaud Johnson, or Mike Walker? Course not.
@Sheedys fingers
I’m not saying I like what Kenwright is doing now but you can’t question his commitment to the club. He has spent money when he has been able to but it’s a well known fact he doesn’t have much money compared to the likes of Abu Dhabi City in Manchester. As for Moyes, if anyone doubts him then you’ve lost your head. What he has done for the club is amazing. There’s a reason he’s one 3 LMA managers awards in his time at Everton.
Blue Kangaroo. What a lot are questioning is a lack of business plan to take this club forward from Kenwright and the board. Kenwright has only one idea how to raise funds and that’s to flog our best players. It isn’t good enough.
Bill Kenwright is completley out of his depth in todays Premier League,the constant errors he’s made during his tenure tell you that. But he loves the attention he gets from being chairman of a club too much to want to give up. The man does what’s best for himself,not what’s best for our club.
He’s the biggest phoney around with an oversized ego.
Sheedy’s fingers, change your name! It’s a fookin insult to the great man, you’re more like Kroldrups turds. Get back to the kop you gobshite!
@ David – no I didn’t listen to the Radio Merseyside show.
However I would agree with you on one thing – is there really any need for all this ‘fuck off across the park’ and such stuff?
We’re alll Evertonians just with a different point of view.
It’s bad enough the season we’ve had withotu turning on ourselves.
Brings us down to the level of them across the park.
IMWT. Your another dumbo with a ‘fuck off across the park’ attitude.
Is that really all you can say rather than putting up a constructive argument?
I take it your another deluded Kenwright ‘fan’ whose all upset because someone is telling some truths about the useless cunt that you don’t want to hear.
KENWRONG OUT.
What utter bollocks!
The figures were both quoted separately on Radio Merseyside were they? So surely they would appear in some articles somewhere?
if not, please confirm dates and times that these fantasy figures were quoted.
Your a total fantasist mate!