EDITORS BLOG
Iceberg, dead ahead!
For his series of surprisingly optimistic articles concerning Everton's prospects for 2011-12, Dave Prentice took plenty of flak last summer from Evertonians who, both at the time and in hindsight, seemed to have a good deal more prescient view of the grave state of the Club than the Echo's chief EFC correspondent.
It's worth acknowledging and supporting, then, the awakening that his latest article appears to represent. If Dave was below-decks on the metaphorical Titanic a few months ago — many will argue, though, that he's had a pretty good view from the captain's deck for a very long time — it looks as though he has now joined many of the rest of us leaning over the bow pointing at the iceberg looming ahead.
Given the pervasive impression that the vocal "Internet" Blues are in a minority when it comes to the fanbase at large and that the ordinary man-on-the-street match-going, Echo-reading supporters remain unfailingly loyal to the Bill Kenwright regime, the power of Prentice's words should not be underestimated. They could — and hopefully will — be the beginning of a more open and analytical approach by the local press to the alarming decline underway at Goodison Park.
Whatever your views of Kenwright, it's clear that the path Everton are on does not square with continued membership of the Premier League. A business that is losing £5m a year with no obvious plans or ability to arrest that downward spiral is in very serious trouble and no one, not even a Trinity Mirror-owned local press with an uncomfortable conflict of interest, can keep sweeping that under the carpet.
Lyndon Lloyd Posted 13/01/2012
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I am a match going echo buying blue as are many that I know and mix with. If you are trying to imply that those of us who still go to the game are "unfailingly loyal to Bill Kenwright and his regime" then you are too far removed from the reality of the situation.
I pay my cash by choice to watch my team play a game of football and I could'nt care less who is owner/chairman/manager/captain of the ship. I go and watch my team because I want to and that has applied in sickness and in health - good times and bad.
Who the hell are you to make suggestions that those who actually go to the match are unfailingly loyal to Kenwright.
This will probably get me censored by TW again for disagreeing with editorial statements.
Apologies if the wording was misleading, Paul, but, no, that wasn't what I was implying and I actually agree with you.
I was merely referring to the long-held belief (one that I don't subscribe to) put forward by some that the Internet, and this website specifically, has been this haven for conspiracy nuts and Kenwright bashers and it's those who either aren't part of the online community, who don't subscribe to the views that get thrown around online, or who get the majority of their EFC news from the local press — i.e. the "man on the street" Blue (I've amended the text above accordingly, BTW) in other words — that need to be reached if the Board is to feel any real pressure.
My reference to "match-going" fans was a nod to the impression some wanted to create that the majority who go to the game are pro-Bill and that's why he was cheered when they showed his face on the screen at the Villa game.
In a nutshell, Kenwright has sold every asset the club has including now some of the best players. All television money has gone plus the season ticket money for next year and still we are losing money. Yes Moyes is boring but kenwright has destroyed us.
Get real and at least the Blue Union is trying to correct things. What exactly are you doing to make us a viable and great club again. Zilch by your attitude.
I was offered a cheap Blackburn ticket today but turned it down, I just can't muster up the desire or enthusiasm to visit GP until things change. Why should I waste my money on shite when they don't give a shite about me.
It's the team we support – not the regime, or just to keep in line with the blog.... "never let go Rose".
You're "never let go Rose" did make me laugh though.
The Club made a loss of £5 million in the last financial year according to the accounts to 31 May 2011. During that same period we sold £22 million of assets (£9 million fixed assets being Bellefield and £13 million other assets being players.)
This to me means that the Club operated at a loss of £27 million in the year purely in terms of operating as a business selling a product and receiving an income.
In other words if this year we don't sell any assets we can expect the accounts to show a loss of £27 million and considering that attendances are down and league placing money will be less then it could well be more.
Can you explain why getting new owners prepared to invest in the Club and manage it properly is detrimental? and keeping these incompetant charlatans that we currently have is a better option?
What garbage. We aren't living in a time where 50p on the turnstile gets you in. We are living in a time where the manager and players are paid astronomical amounts of money and we're charged between 30 and 35 quid a ticket. Hats off to those that still go but until the product served up on the pitch improves, a lot of us won't justify the expense. An expense that disappears into the mysterious black hole of 'other operating costs'.
Peter Fearon, you're starting to sound as much of a wind up merchant as Richard Dodd.
To the Moyes out campaigners, normally new owners change the manager within the first 6 months of purchasing the club. If everyone focuses on getting rid of the board then Moyes will follow soon after. Unless of course he proves to be as good a manger as some people still believe him to be and Everton become an attractive, successful team under his tenure. In other words its a win win situation.
DON'T WORRY ABOUT MOYES. BOARD OUT FIRST>
I accept that I might have read Lyndon's initial statement wrongly but I felt that there was a clear pop at those who go to the match. At best the statement is ambiguous.
Theres a way out and its the stadium issue. What is the club doing to rectify this? We have heard the same thing for years now, looking at this site, really keen on this site, theres no land, Speke, blah blah blah..........
I dont think the club have been serious at looking for options. They have managed to come up with one scheme in 10 years since the Kings Dock. And that was a bag of shite. It was embarrassing, as were the pathetic attempts to get people behind it.
Just what are the club doing to address the issue? It would appear fuck all. We are a much more selllable proposition if we have an "out" on the stadium issue.
If thing stay as they are we are, we are down. Our ambitions can extend no further than staying in the division till this is rectified. I cannot stress this strongly enough. If nothing is done to rectify this situation we are going to be relegated at some point.
We need to ask the club some serious questions about what plans, if any, the club has to fix the stadium issue. The issue which is directly linked to our financial decline.
Its ever decreasing circles. We will be debating this forever.And we will be debating it in another 10 years, in the same outdated, dilapidated stadium, watching championship football.
The stadium is the titanic, the iceberg is relegation. And every year these clowns do nothing about it, the iceberg gets nearer.
One project in 10 years, which was a joke. It was decimated at the inquiry. Do the board have the capacity to change the situation? Track record suggests not. Ownership and stadium issue go hand in hand.
The situation is critical, it is nearly too late, some may say it already is. Its gonna take 10 years to get something going, move, benefit and progres the club. We are fucked if this doesnt happen.
This issue goes unresolved and there is no future.
The BU proposal is for Kenwright to step aside and for a third party to be nominated to negotiate the sale of the club. This third party is then supposed to offer the club for sale at a price far far lower than its true value. No major shareholder in his right mind would agree to that but if they did, the banks, who have secured loans based on a much higher valuation, could be entitled to call in those loans immediately which be be a disaster.
The buyer is then supposed to put the cost of a stadium – let's say that's only £120M, but it could be £150M or £200M or more – in escrow until a stadium is built, let's say five years. No buyer in his right mind would do that with that much liquidity but, if he did, that money is still money that could be invested in the team but which wouldn't be.
Some people forget the team is the most important element. The Team. It's a proposal which benefits neither the seller nor the buyer and, as a good deal has to benefit both, it clearly would never be allowed to happen.
Setting aside the fact that anyone who believes a stadium is going to be financed by someone putting the full cost in escrow for however many years clearly is naive beyond belief about finance. I could be wrong but I don't think there has ever been a stadium financed that way in the history of sport. It undermines the credibility everything else they propose.
The BU are not asking for the Club to be sold for less than it's 'true value', they have not set any value on the sale.
The loans from the bank are not secured against the 'true value' of the Club. They are secured against future revenue.
The loans will either be repaid by the current owners if they are called in or carried over by the new owner as part of the deal (discounted against the purchase price of course)
The BU are not asking that a new owner fund a new stadium or put any money in escrow, where did you get that idea from?
Sorry mate you're well off-base I think!!
The true value of the club is whatever the purchaser offers/buys it for.
You may think your house is worth X amount but maybe you'll only be offered Y amount. It's up to you to sell at the offer price or sit in your house for ever and a day waiting until someone offers what you think its worth.
The third party will only negotiate the best price for the club taking many factors in to account. Certainly, as far as I know, no preconditions (eg, new stadium) will be put forward.
Please elaborate where this is coming from. I could have missed something but I've not seen the BU strategy defined in these terms by them anywhere.
But if he truly was just Everton's greatest supporter he wouldn't care about making money off of the sale, given the club's current financial predicament and his complete helplessness in solving that financial crisis. The Blue Union is essentially requesting to act as the bankruptcy court, before the club actually enters administration and the banks who don't give a damn about the club do the exact same thing.
KD is spilt milk. I'm as amazed and angry about it as the next, but it's gone. But how can there not nbe land availble in a city that has depopulated as much as Liverpool, and yet Arsenal find a huge block of land in zone 2 North London? It's staggering.
Maybe I have missed something. But have BU or anyone else not found some spare land - including any land that has buildinbgs (retail, warehouse, ex factory or to be demolished housing) - anywhere?
Furthermore, the credit crisis - which will be with us for years - means land prices are falling. It also means the value of many businesses will be falling. I wonder if like so many in denial house sellers, we have shareholders hanging on to 2007 bubble prices, and are rejecting any fair offers as "derisory".
One thing I do reject of BU and others is that somehow the money is going missing - pockets or wherever. We simply do not make enough money, and matchday revenue has fallen for the past 2 and half years by over 20%. That is unsustainable.
Where has the money gone? There is no money people!
My one gripe with Moyes is that he has failed to cut his cloth in the past two years. Someone should have been sacrificed in order to get a striker in. But now, it's gllom, it's dull football, and the fire seems to have gone out of Moyes. It's leaked into the team, and it's dreadful. And I was a Motyes fan.
While deleting such posts would lead to you being accused of not allowing anti-BU comment, can you at least put a header into the post along the lines of "Warning, this post contains complete bullshit."
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556 Posted 13/01/2012 at 19:28:13
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Panto season - anyone know a fairy godmother?