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Billionaire needed! So look at today's news, Bill
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Bill and his mates are apparently looking hard for a billionaire. Well here is a list of people for you to contact courtesy of the latest Forbes magazine Billionaire list:
http://news.bbc.co.uk/1/hi/business/8560731.stm
Craig Taylor, Posted 11/03/2010 at 15:59:47
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I think what BK means, is that he is looking for the right investor, with the right kind of deal. I don’t want to see someone get a loan to buy the club, and then transfer the debt back onto us.
There are plenty of investors out there who would love to get their hands on our club. But fortunately, our chairman has the interests of the club at heart, and not his pockets. Otherwise we would be in the same amount of shit as the rest of the Premier League. As it stands now, we are one of the best run clubs in terms of wage to turnover ratio and debt. And we still have a cracking team that has been assembled.
There are plenty of investors out there who would love to get their hands on our club. But fortunately, our chairman has the interests of the club at heart, and not his pockets. Otherwise we would be in the same amount of shit as the rest of the Premier League. As it stands now, we are one of the best run clubs in terms of wage to turnover ratio and debt. And we still have a cracking team that has been assembled.
Dan it’s usual fare beyond the one off’s in "Sheik your oil cash" at Shitty and "Give me your oil field or you’ll find yourself in an unmarked grave Abramovich" at Chelski to transfer such a large debt against the club you would buy and this happens in most large sports. The naive beliief that someone with enough cash would be willing to just basically give it away to Black Bill and his yes men is a daydream, hence god knows how many years of the bullshitism 24/7. There was an opportunity many years ago for a share rights issue to raise cash for the club but it never happened as those majority share holders stated in the DK hearings they are unwilling to sell or dilute their shares to benefit the club, it’s their investment and they want a return solely for themselves.
Again the word ’investment’ is all over that interview and not the word ’buyer’.
You could set your clock by this bullshit.
You could set your clock by this bullshit.
Dan, you really do lap up everything the club says don’t you? The interview Kenwright has given could easily have been dated the year 2000 as he said pretty much the same stuff when he acquired the club.
You are definitly a bit naive.If he really did have our best interests at heart he wouldn’t have been desperate to stick us in that excuse for a stadium outside this City.
You are definitly a bit naive.If he really did have our best interests at heart he wouldn’t have been desperate to stick us in that excuse for a stadium outside this City.
Gavin, why would anybody de-value your holdings for a one -off cash injection that wouldn’t change the predicament we are in. I think the naivety sometimes is obvious for all……..we need serious cash in the region of £300 million investment that can’t come by share options, we are not Ebbsfleet!!! COYB
Craig, the thing is the reason a lot of these people are on the Forbes list in the first place has a lot to do with the fact that if they are seriously interested in something they don’t wait to be asked.
I don’t know why anybody discusses threads on this subject anymore as its pointless.
I read the article, believing what it says and the other half read it and decide its all lies and spin and Kenwright needs to go.
People read what they want to read and the content is largely irrelevant. too many people have fixed opinions on our chairman to warrant a constructive discussion anymore
I read the article, believing what it says and the other half read it and decide its all lies and spin and Kenwright needs to go.
People read what they want to read and the content is largely irrelevant. too many people have fixed opinions on our chairman to warrant a constructive discussion anymore
Alan at the time, the same time Spurs did the same thing and raised a significant amount, the cash could have gone on both stadium and squad improvement, this was way before the current situation, due to the freedom of information act the truth behind the original silence at the time came out in the DK documents. I won’t deny it’s their money and their choice but to hear crap like "the club’s best interest" and "true blue" and other bollocks is shameful and hypocritical.
This is what annoys me about Bill.
We dont need a Billionaire. We just need someone worth more than £10M who has ambitions and the means to make us a better club.
That doesn’t have to mean a Billionaire or anywhere close.
Do people realise this dramatic talk from Bill is just deflecting the fact he hasn’t attract major investment into the club during his entire reign?
Does he honestly believe only a Billionaire can help us? Or is this more cloak and dagger shit?
We dont need a Billionaire. We just need someone worth more than £10M who has ambitions and the means to make us a better club.
That doesn’t have to mean a Billionaire or anywhere close.
Do people realise this dramatic talk from Bill is just deflecting the fact he hasn’t attract major investment into the club during his entire reign?
Does he honestly believe only a Billionaire can help us? Or is this more cloak and dagger shit?
Does he honestly believe only a Billionaire can help us? Or is this more cloak and dagger shit?
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With the alternative being someone buying the club and then loading all the debt incurred onto the club. The only two successful takeovers of Premiership clubs have been Chelsea and Man City. Both of which have billionaire owners who can just wipe out any debt incurred buying players/investing in stadiums.
You only need to take a look over the park to see what kind of financial mess you can get into when the former happens.
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With the alternative being someone buying the club and then loading all the debt incurred onto the club. The only two successful takeovers of Premiership clubs have been Chelsea and Man City. Both of which have billionaire owners who can just wipe out any debt incurred buying players/investing in stadiums.
You only need to take a look over the park to see what kind of financial mess you can get into when the former happens.
Paul Mackie I think it’s a little more than just black and white, it’s worked previously and could have remained working if the credit crunch had not have happened. Now all financial institutions look at all lending as risky (they should have all along) so tend to lend a lot less and at much more punitive costs. A lot of the failures of figures such as Waldorf and Stadler and Egghead at West Ham are down more to not having an alternative business plan beyond relying on the banks extending their loan terms.
Perspective.
How are we doing ? Pretty good.
Are we about to go into administration ? No
Do we buy expensive players ? £!5m Yes.
Do we want to be Man City and lose our soul ? I doubt it.
Man Utd, Liverpool ? Oh how I envy them.
Have we a great manager - especially for the economic climate and the financial chaoe about to hit premier league - Yes
Is BK trying to make a fortune from EFC - that one is so stupid not worth commenting on.
These days I love being a Blue - especially with the Shite fans I work with.
They would love our integrity and ability.
Don’t wish for silly things - they may come true and we’ll be one of the SKY 4.....and no longer the club my grandad took me to watch.
How are we doing ? Pretty good.
Are we about to go into administration ? No
Do we buy expensive players ? £!5m Yes.
Do we want to be Man City and lose our soul ? I doubt it.
Man Utd, Liverpool ? Oh how I envy them.
Have we a great manager - especially for the economic climate and the financial chaoe about to hit premier league - Yes
Is BK trying to make a fortune from EFC - that one is so stupid not worth commenting on.
These days I love being a Blue - especially with the Shite fans I work with.
They would love our integrity and ability.
Don’t wish for silly things - they may come true and we’ll be one of the SKY 4.....and no longer the club my grandad took me to watch.
Ditto Ged.
One unfortunate aspect of the MiddleEastlands situation is that city followers are so relieved at not having to take the piss out of themselves at the moment for being relegation fodder that they seem to think everything is fine. They have been bought. It could happen to us - but I think city’s ’dream’ will go bad before we go down the same path.
Meanwhile, Manchester city centre was awash with green and yellow. yesterday. I hope I never see The Park End decked out in orange and purple - or whatever - in protest at carpet-bagging owners.
Perhaps we could get Ingvar Kamprad to take an interest. After all, you could never hold up a banner proclaiming
"Love Everton - Hate IKEA" - could you?
One unfortunate aspect of the MiddleEastlands situation is that city followers are so relieved at not having to take the piss out of themselves at the moment for being relegation fodder that they seem to think everything is fine. They have been bought. It could happen to us - but I think city’s ’dream’ will go bad before we go down the same path.
Meanwhile, Manchester city centre was awash with green and yellow. yesterday. I hope I never see The Park End decked out in orange and purple - or whatever - in protest at carpet-bagging owners.
Perhaps we could get Ingvar Kamprad to take an interest. After all, you could never hold up a banner proclaiming
"Love Everton - Hate IKEA" - could you?
Well said, Ged; I couldn't have put it any better.
Gavin, I didn’t realise that was a standard method of purchasing a sport business. It seems complete lunacy if I understand it correctly:
So for arguments sake lets say someone loans 60 million and buys Everton. He then transfers that borrowing onto the clubs books, so we end up with 100 million of debt as opposed to 40 million (for arguments sake, not accurate).
So the new owner then underwrites another 40 million for new players, again on the clubs books. These new high priced players, then break the pay structure we currently have set up, taking our wage to turnover ratio up to around 70%.
So what is the result? If we get into the CL, happy days as we can service the new debts, the club progresses. But that means having to qualify for the CL EVERY season to pay the fiddler.
And if we don’t qualify for the CL, how are we meant to pay for the interest (nevermind capital repayment) on 140 million of debt, and the 70% wage to turnover ratio? To me it seems pretty simple, it cannot be done. Unless you through an additional 200 million of debt into the equation for a new stadium. Actually, make that 400 million as the fans will only accept a world class stadium on premium land in the city centre.
I am no accountant by any stretch of the imagination, most of my sums are done with a calculator. What I don’t understand about those who want BK out, is how a new chairman is supposed to come in and do any better, without strangling the club with extra debt. Can anyone enlighten me? Or am I gonna get another barrage of ’as long as he doesn’t lie to the fans, he is alright in my book’ shite.
So for arguments sake lets say someone loans 60 million and buys Everton. He then transfers that borrowing onto the clubs books, so we end up with 100 million of debt as opposed to 40 million (for arguments sake, not accurate).
So the new owner then underwrites another 40 million for new players, again on the clubs books. These new high priced players, then break the pay structure we currently have set up, taking our wage to turnover ratio up to around 70%.
So what is the result? If we get into the CL, happy days as we can service the new debts, the club progresses. But that means having to qualify for the CL EVERY season to pay the fiddler.
And if we don’t qualify for the CL, how are we meant to pay for the interest (nevermind capital repayment) on 140 million of debt, and the 70% wage to turnover ratio? To me it seems pretty simple, it cannot be done. Unless you through an additional 200 million of debt into the equation for a new stadium. Actually, make that 400 million as the fans will only accept a world class stadium on premium land in the city centre.
I am no accountant by any stretch of the imagination, most of my sums are done with a calculator. What I don’t understand about those who want BK out, is how a new chairman is supposed to come in and do any better, without strangling the club with extra debt. Can anyone enlighten me? Or am I gonna get another barrage of ’as long as he doesn’t lie to the fans, he is alright in my book’ shite.
Dan, it’s frightening how some business take overs happen not just in sports. When you see huge takeovers they are often bankrolled by humungous debts with financial institutions taking the proposal from the purchaser that they will be repaid handsomely over a fixed term. The Kraft takeover of Cadburys recently would have an element of borrowed debt if not all of it where the collateral would be Kraft and Cadburys "good name" and earning potential to repay that debt. You are talking in 100s of Millions these days.
I’d love to see a model more akin to that at certain clubs in Germany and Spain where the fans own a percentage of the club giving less opportunity for carpetbaggers and the like but this is unlikely in the club’s present state.
I’d love to see a model more akin to that at certain clubs in Germany and Spain where the fans own a percentage of the club giving less opportunity for carpetbaggers and the like but this is unlikely in the club’s present state.
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1 Posted 12/03/2010 at 02:58:07
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