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Money

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Sort of topical given the transfer window will open at midnight tonight. But why is it that Everton have absolutely no money whatsoever to spend in the transfer window, or for that matter at anytime? Where does all the revenue go the club receives, from crowds, shirt sales, Premier League and so on?

This is provoked after a conversation with a friend of mine, who supports the dark side, and commented there is something 'seriously wrong' with Everton.

How does Moyes manage on such a tight budget with such a small squad, one which in reality appears to get smaller every year. To such a degree he appears forced at times to make some seemingly bizaare selection and tactical choices. (I realise it's a bit odd to leave 3 strikers on the bench and start a game with out any if the strikers aren't scoring, but that might be for another thread).

So... where is the money...?? Seriously?
Mark Hill, Manchester     Posted 31/12/2010 at 13:33:07

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James Stewart
1   Posted 31/12/2010 at 15:20:15

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To pay Peter to pay Paul! We are mortgaged to the hilt!

We got out of jail with the Rooney/Lescott money for awhile. Black Bill is not as stupid as people think!
Gavin Ramejkis
2   Posted 31/12/2010 at 15:25:29

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It's servicing the debts we have which are many, next season's Sky money has reportedly already been borrowed against too, which is more worrying. Take your pick from Fellaini, Rodwell, Baines, Coleman to go in the summer to service next season's bills. James, Black Bill is idiotic to think the sale of first team players to pay the bills is sustainable.
Helikaon Bow
3   Posted 31/12/2010 at 15:35:59

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Simple. We are badly run behind the scenes and as a result generate little money.

Secondly, we've got an owner who has no money to invest.
Eugene Ruane
4   Posted 31/12/2010 at 15:35:18

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Mark, you ask:

"But why is it that Everton have absolutely no money whatsoever to spend in the transfer window, or for that matter at anytime?"

Well, it's basically because Bill Kenwright is a cunt. Hope that is of some help. (I could go into detail and have many times in the past, but it all boils down to the same thing).

Still if we DID have money (let's say off the top of my head, £8M), Moyes would probably buy a striker valued at £8M and leave him on the bench.

Or am I just being ridiculous?
Andrew Laird
5   Posted 31/12/2010 at 16:06:47

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We still owe money, to the money to the money we owe. A forward thinking financial initiative from the buffoons in charge of such affairs.
Ray Robinson
6   Posted 31/12/2010 at 16:17:07

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On servicing the existing debt. Maybe just maybe we're ahead of the game here... Maybe some of the other "spenders" will ultimately go under ? Bolton Wanderers anybody?

Must admit, spending everything you earn on servicing a debt does seem a little short-sighted, a bit like not spending money on food in order to reduce the mortgage.
David Hallwood
7   Posted 31/12/2010 at 15:59:49

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Yeah Eugene, you're being ridiculous ? funny but ridiculous. Basically, Everton, like a lot of EPL teams (in fact they call it the EPL model) cannot service overheads on income, which is even more worrying considering that record amounts of cash are pouring into the EPL, and if football operated like any other business, some of the profits would be hived off for R&D. Except there are no profits, and football is slowly killing itself.

When he was the Spurs? chairman, Alan Sugar called football ?prune juice? economics ? loads of money coming in only to be shit out into the toilet bowl that is players & their lovable agents.

This can?t go on, everyone knows that, but instead, the wage demands are getting more outlandish, so Tevez asks for £300k pw, and there are players already on £150-£200 pw. Now if that?s only the handful of stars fair enough, but it creates the trickle down effect, or probably a more accurate description is that it ratchets up pay levels of all Prem players and now to offer a prem player £10k pw is now seen as an insult.

Which brings us to ?investment?. I?m sure that if you?ve been on this site for more than 6 months, you should realise that the words ?Kenwright? and ?investment? will create up to a 100 posts. People on this site don?t want investment, they want a gimme, what we (and that includes me BTW) are looking for is some soft bastard to throw £10, 20, 40 100 million (delete which ones are inappropriate) at the club with little or no chance of ever seeing it again.

And before someone gives it the speculate to accumulate, more money means the ability to buy better players, better players demand and get usually get bigger wages, therefore any profits will be eaten up by higher wage demands (now you know why it?s called the prune juice economy).

What will be interesting is how many clubs will be splashing the cash in the Jan window, because I think that just about every club?s in the same brown, shitty boat.

Ste Traverse
8   Posted 31/12/2010 at 16:47:13

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Why are we skint? Because we are run by an absolute clueless muppet in Bill Kenwright.
Mark Hill
9   Posted 31/12/2010 at 17:04:04

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But is BK totally to blame?, iIs he (I know he was on board in previous regimes) the one that has pee'd it all away? It would be interesting to know what he took on, debt, what has been recovered or paid, and what the current situation is.

I understand he doesn't have much money in which to use on the club, but what role doe his 'friends' play in this, what of Lord Granchester, Mr Green for example?

Tom Bowers
10   Posted 31/12/2010 at 17:36:47

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Maybe all the money goes on the excessive wages we are paying players we don't play?
Jay Harris
11   Posted 31/12/2010 at 17:40:28

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Mark Hill #9.

Kenwright basically inherited a debt-free club.

There was an overdraft of £5 million with about £7 million still to come in from players sales before his takeover.

Since he took over, we have made an operating loss every year apart from the Rooney sale year and the FA Cup Final year when we made 26p. Okay, it was £26,000.

Debts according to Elstone were last reported at £80 million and we sold or mortgaged whatever assets there were when he took over.

All those who say he is a "Blue" and has created stability need to visit Rainhill (I know it's closed but they should still go there).
Charles King
12   Posted 31/12/2010 at 18:56:48

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David @ 7

What I can't understand is why some people keep coming back into football as owners if its such a loser. I'm thinking of Ridsdale, Mandaric, Sullivan and the Gold bros all on the shady side of dark I know but it defies the adage if you want to make a million from football start off with £10 million. Might shed light as to what's in it for Bill given the flak he must get.
Mark Pierpoint
13   Posted 31/12/2010 at 19:24:53

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Of course, Charles. There is plenty of money in being a footballing firefighter. Ask Ken Bates. How much profit did he make on his one pound at Chelsea?

You buy low. A team on the edge of the abyss, stabilise then hope for a big sell on. This is the only way to make money in football.
Les Martin
14   Posted 31/12/2010 at 20:39:31

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To end all this continual speculation you would think that the Chairman would come clean and say, listen fans we are in "this" situation at present due to xyz, and its going to take ? long to sort it, we are doing the best we can!. Its the sound of silence and fans wondering what the hell is going on, that drives this type of thread. I think protest pressure need to be brought to bear to find out, then from there we draw our own conclusions
Andy Mack
15   Posted 31/12/2010 at 21:03:41

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...and if we are so skint year upon year why not cut our cloth accordingly, a team full of Vaughans and Colemans may not win the league but they might just give the team a bit of enthusiasm and be a lot cheaper than Heits and Co.

I was reading before the season about our finances and they were pretty much as outlined, we're spent up. But where is there to go with the way things are at the moment? Just about every Prem team is jumping up and down on very shaky ground.

Dave Whitwell
16   Posted 01/01/2011 at 09:33:16

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Forget about the debt as this has primarily been used to fund player acquisitions over the years and can only be paid off by time, profit, or new owners, at this point most likely just time so forget about it.

There are 2 crippling issues, revenue streams and player wages.

Revenue streams could be improved by either a new stadium, Champions League or imaginative commercial deals. Again none very likely... so probably best to ignore those too.

Player wages are the main issue given our current level of resource and this is why we are constantly hearing the phrase "punching above our weight" as the wages for this squad are way above those clubs around us with similar levels of resource, and this prevents us from making profits which could either fund players or repay debts.

The answer is to flog the crown jewels, reduce the wage bill, and see if Moyes can build a second term squad on the proceeds!
Jay Harris
17   Posted 01/01/2011 at 18:44:14

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Dave, with respect, that is an accountant's answer... sack all the staff because our income is low, so let's drive it even lower by getting rid of key employees.

The real answer, and it should have been done 10 years ago when Kenwright took over, is to have a long-term business plan with solid objectives, like improving our marketing and merchandising, running our own facilities properly instead of allowing others to make a profit because it's too much like hard work.

Seeking out and developing young talent.

Having a feasible stadium plan.

Kenwright has just sat on his arse, turned up for games with his "I'm just the chairman routine", and gone totally missing when the flak is flying.

We wasted time and £5 million on that ludicrous DK plan.
John Roberts
18   Posted 01/01/2011 at 20:49:28

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It's a joke having no Money! Where does it go!?? WISH us fans would let our feelings be known about Billy Bullshitter ? instead of falling for the same old shite! HE ONE OF US!?! If he was, he would've got out and let someone else take club forward! eg. Lord Grantchester

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