The Mail Bag
?I'll sell tomorrow to the right bidder...?
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I wrote to BK several weeks ago, just after he made the statement that he needed to sell EFC, suggesting that he set up a buyout of the club by the fans ? in a model similar to that used by Real Madrid. Let's face it, he is the person best placed to set up and co-ordinate such a scheme ? yet not a word of reply was received.
Now I am not surprised by that but surely that would be a better option than being bought by some rich billionaire who sees the club as a toy for the next few years? Does this not put his "I'll sell tomorrow..." comments into perspective?
Rupert Sullivan, Posted 11/09/2008 at 12:15:10
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Some poster causually through around figures showing how easy it would be but it is far from it.
You pay your initial amount.... then what? You pay more the year after and so on, then people realise its not a money making scheme and bail and where does that leave you?
We’d not only need to stump up £50M for the club, but another £20M for player purchases, plus a new/redeveloped stadium, etc, etc, etc. Plus the club are losing money, so we’d have to stump up cash to cover the losses.......
Absolute non-starter I’m afraid. Plus given the amount of bitching on here, I wouldn’t like to see what happened when they actually tried to put the administration in place.
Next ideas on a postcard...
That’s probably exactly what potential new investors are thinking, hence no bids, hence BK’s desperation to move to Kirkby.
Looking at the other deals that have taken place I?m NOT convinced that Everton is unattractive to investors & that the ground issue stands in our way. Yes, we have debts & few realisable assets left in our name BUT we have: The status of ?best of the rest? in recent seasons, growing European recognition, some very good player assets and we would, if valued objectively, be available for a very reasonable price. In theory a Billionaire could gain a high profile club for relative peanuts & with moderate investment build on our playing assets too maintain us moving forward for very small relative outlay.
However, Bill is a holding out for Kirkby to realise a bigger profit & also trying to gain a long term presence/ position within our club. If you read the serious financial press its the latter two issues that are deterring investment, so much so that brokers do not even recommend us to serious investors as Kenright is seen as an obstacle to reaching reasonable agreement. No wonder He wants to stifile any more debate or awkward questions via EGM?s !
On one hand he knows the Club needs money from outside investment. His exasperation and realisation of this came across at the EGM, following on from the now infamous ESCLA meeting in July when he issued his, ’Don’t ask me, I’m only the Chairman’ classic one liner. He knows that most probably any serious buyer will want full control in the way Abramovich did when he took over Chelsea. At that time Ken Bates hung around as part of the deal, but realised within a year he was not welcome in the new order and left. That’s his head thinking and I feel sure that a Buyer is out there as EFC is potentially a value buy at £45m plus debt. If Kirkby goes ahead that is likely to be the existing £60m debt plus another £100m or so build costs so the Club is effectively available for £200m in that scenario.
Of course, his heart wants to stay on in some sort of capacity. He’s hoping that somebody out there will buy us up, he’ll collect his winnings ( which actually is fair enougfh ) and he’ll be allowed to stay on in some way. Of course while this is very nice ( espec ially for him ) no serious buyer would want him involved in anything other than a bit of PR at first perhaps, given his ability to put his foot in it.
Really, nothing will happen until Kirkby is sorted out. A year in limbo financially I fear.
Personally, I just hope Kirkby gets knocked back because it is simply not good enough and in the the long term could be the worst decision ever made. Once that happens, I hope that BK will sell up and a new owner can have a sensible dialogue with LCC over expanding the Goodison footprint , an alternative site in Liverpool or what is still, at present, the most beneficial solution for all concerned - a shared stadium in Stanley Park.
Bill is obviously a proud man, but he knows he can’t carry on like this, we know it and while he obviously doesn’t want the Club falling into just any old hands, he can’t be too choosy anymore.
It would be interesting. Imagine the headlines if we, the Toffeeweb contributors, ran it.
"Everton ballot fans on who is to take penalty"
"New signing sacked after poor cross"
"Bailiffs sent to collect Walton fans investment"
"Phil Neville to face execution"
"BK summoned to KEIOC Tribunal"
"New Everton Board declare whole world is against them"
"Everton hand back Sky money in protest"
"We would sell to anyone", say fans
"Watch this space"...
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