ToffeeWeb - Season 2007-08

The Mail Bag

I'd like to know...

...what Kenwright's intentions are once we have moved to Kirkby.

As the deal stands it is a very attractive proposition. We get a brand new stadium worth £150m for approx £25m. We own it and it is going to be achieved without leaving us in huge debt. Now the most attractive part of this package is the debt-free part because unlike Liverpool when their stadium is completed they will be in debt to the tune of £500m and paying £25m a year in interest payments alone.

What I am concerned about is whether Kenwright intends to stay or to sell because if he decides to sell for, let's say, £150m then that instantly puts the club in debt to its new owner to that amount which would totally negate the benefits of the move.

Now I am no accountant but I find it a little worrying that Kenwright stands to benefit so much from the decision to move us to Kirkby. I know this has been mooted before and generally poo-poohed by the club but would this not be a good time for the club to start a fan's trust fund where we could contribute to the stadium construction costs and ultimately share in the new wealth that is being created through this deal?

If the club's contribution to the scheme is £20m and there are 40,000 eligible voters then £250 from each of them would provide £10m toward the costs and a 50% share of the stadium. Now I am not suggesting that we can then go and sell the thing for profit but as it is the sale our heritage to some extent which is securing this windfall for Kenwright surely we should share in it and by so doing protect it for the club and stop it from just lining Kenwrights pockets and leaving us in debt.
Barry Bragg, Birkenhead Posted 20/07/2007 at 15:34:03

back Return to the Mail Bag

Comments

Note: the following content is not moderated or vetted by the site owners at the time of submission. Comments are the responsibility of the poster. Disclaimer

tom morris
1 Posted 20/07/2007 at 18:38:12

Sounds to me like Kenwright can’t do right for doing wrong.

On the one hand he’s a puppet master who won’t relinquish his train set for anything, and on the other he’s now just looking for an opportunity to flog the club to the highest bidder. Which one is is it ?

Neither, probably.

Alan Clarke
2 Posted 20/07/2007 at 19:09:10

Barry, nail on the head mate. Kenwright’s failure to find any other investment makes me very suspicious especially when billionaires all over the world are investing in other premier league teams. It’s not a well kept secret that kenwright has turned down approaches to sell (Randy Lerner was one, that fella from Hong Kong who’s just invested in Birmingham is another).

In answer to Tom Morris - Kenwright won’t relinquish his train set until he gets the maximum price he can for the club then he will sell to the highest bidder.

Colin Potter
3 Posted 20/07/2007 at 19:22:03

In my opinion,once the move to Kirkby is completed and Everton move in,a buyer will magically appear and he will sell up in the first year,and I don’t think you will see him at any Everton games,unless maybe at a cup final,when he is sitting next to the Queen or a queen!

ryan crest
4 Posted 21/07/2007 at 22:31:51

Don’t be soft. This contract will have enough tie-ins to keep Houdini in business for the next ten years.

Leahy is no mug. No one will be able to do a runner with Tesco’s money .