Strangely the title of this post is true... and a convenient analogy for our great club.
I sit here wondering if we will sign anyone today. I have to admit though that I write this with little detailed knowledge about our finances but I do get the sense that we are broke. So what does BK and the Board do?
It seems to me the situation is very like the situation in the country as a whole. You can make cuts and then more cuts. You will then have a deficit reduced. The problem with this is you end up with no services and only the rich survive.
The alternative is you borrow and invest. But that means we have to put up with cheap players for a while longer. That is why Moyes is crucial. He is a master at that.
In our case, the investment must be the ground (Goodison or elsewhere ? doesn?t really matter). Getting mediocre loan players will probably do little to our performances and we have a team that can keep us mid-table ? probably what we can expect for a while. To improve the team, we need that new ground or a better Goodison.
Now what I don?t know is if we can do this. Can we borrow the money for the ground? Well, if we cannot, then BK cannot be criticised now for his management of the club (I know Kings Dock was a mess but this is now).
So then we have the sale option. My sense is that there are not buyers at present. Why? Well, would you??? So we have a Catch 22. New ground = investment; No investment until new ground. No loan available for new ground.
The only hope is that the current Board are liars like many say and that there is a queue of interested parties. I just think that is make-believe.
So, if I am BK ? what do I do? If there is a genius out there who knows, great. Otherwise the Supporters Trust seems the best idea I have seen for years. Then we can change from being fed up moaners to being active parts of the finance.
Ged Simpson, Posted 31/01/2011 at 10:51:30
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
1 Posted 31/01/2011 at 14:11:11
Baring those transfers going through, I heard this morning after Spurs £38.5 mil bid for Ageuro was rejected by Athletico, Blue Bill put in a £38.6 mil bid but was sadly knocked back by the Spanish club!
"You would not believe" the other players he is trying to sign this transfer window!
2 Posted 31/01/2011 at 14:16:20
3 Posted 31/01/2011 at 14:17:20
4 Posted 31/01/2011 at 14:23:46
Clearly Moyes wished to freshen up the striking department and he is clearly disappointed nothing is happening whilst across the park Suarez and Andy Carroll have been courted. No wonder he considers draws at Anfield "incredible".
5 Posted 31/01/2011 at 14:55:08
Someone needs to have a word with BK, how can other clubs who I believe are less attractive than ours be getting in quality signings either on loans or on a perm contract? I feel sorry for the players.
6 Posted 31/01/2011 at 15:17:57
How new are Villa Park and Loftus Road, for example?
7 Posted 31/01/2011 at 15:16:31
8 Posted 31/01/2011 at 15:31:11
9 Posted 31/01/2011 at 15:40:03
10 Posted 31/01/2011 at 15:33:58
11 Posted 31/01/2011 at 16:04:27
12 Posted 31/01/2011 at 16:08:41
13 Posted 31/01/2011 at 16:24:55
Its not "bad luck" or "one of those things"; sometimes the man in charge has to take the blame if things are going tits up. and BK is in charge. and things ARE going tits up.
14 Posted 31/01/2011 at 16:35:34
15 Posted 31/01/2011 at 16:35:07
16 Posted 31/01/2011 at 16:33:48
I would then check the buyer was "suitable" (whatever that means!) and willing to commit their savings on the market price to helping the club
Now, don''t you think that would be interesting?
17 Posted 31/01/2011 at 16:38:48
18 Posted 31/01/2011 at 16:57:29
19 Posted 31/01/2011 at 17:08:10
20 Posted 31/01/2011 at 17:12:02
Am I Jimmy.
I ask you again - come up with a fucking answer.
It is the inability of anyone to come up with any kind of credible solution that makes me so worried about our great club.
And Andrew - yeah some of us do know that but how many are just yelling for sackings without looking beyond their very short noses ?
21 Posted 31/01/2011 at 17:14:46
Next big job ... or club with cash! he'll surely give it more than a sideways glance.
Effectively we are moving but down the table more than up and there is stuff all Moyes can do. I think he needs to break the team up and sell most of the assets in order to build a new team around Roders and Felli.
22 Posted 31/01/2011 at 17:19:04
What do you think businesses generally do when they want to appoint a suitably experienced and qualified person to take control of their business?
A chairman doesn't have to be an unpaid figurehead, these days, professionals are allowed
One thing business people don't do is sit around the boardroom table moaning "but who could we get in to help?"
23 Posted 31/01/2011 at 17:18:24
Sadly the supporters can do very little, if anything, to arrest the decline of our once-great club. Perhaps the most effective thing to do is to send your season ticket renewal back with a note advising the club you won't renew or attend any matches whilst the current Board remain in control of the club. If enough supporters were to do so then the Board might be moved to reconsider their position.
24 Posted 31/01/2011 at 17:32:15
25 Posted 31/01/2011 at 17:41:16
26 Posted 31/01/2011 at 17:53:58
27 Posted 31/01/2011 at 18:21:15
28 Posted 31/01/2011 at 18:23:17
Next time I'll run my posts through the spillchock.
29 Posted 31/01/2011 at 18:30:12
The Club's turnover is around £80m.
£50m goes on players' wages and even then some greedy little God bothering midfielders say it should be more.
That leaves £30m to pay all the expenses, say £10m and pay off loans. We have had many of these loans that have been used to buy the likes of Yakubu, Fellaini etc. Repayments are probably up to £10m a year. Chuck in $3m for paying off agaents and you are left with about £7m.
Now these are very rough calculations, but clearly this is meaning we cannot go out and spend £35m on Andy Carroll ( although why any sane person would want to is another matter ). Moyes has to whhel and deal, which is waht he has been doing ever since he arrived - hence the £25m net spend over 9 years.
All that will change things is a new owner prepared to guarantee bigger loans from the Bank. All very well, but they can up and leave like Gaydamak at Pompey and leave you in the shit. The matter has been complicated, I believe, by BK wanting to stay on in some capacity, but in reality nobody who has to spend that sort of cash will want to share the throne with him.
Player wages have basically spiralled up out of control and are making purchases, not just the transfer fee, but the wages too, extremely expensive. It's a sobering thought that Arteta's wages for the next 5 years ( £75K X 52 Weeks x 5 years = £20m ) would pay for a big new double decker Park End stand.
Kenwright is far from perfect, but it's not all his fault.
30 Posted 31/01/2011 at 18:58:46
31 Posted 31/01/2011 at 19:02:42
32 Posted 31/01/2011 at 19:20:00
33 Posted 31/01/2011 at 18:57:55
I fully accept that we were already going downhill fast when he took over, I alsobelieve he is`nt responsible for half the things he gets blamed for.
But he knew how bad things were and he knew he didnt have the funds do do anything about it.
PJ wanted out and somebody had to take over, nobody else wanted to know - nobody serious anyway - but given that he had nothing to offer Kenright should have either stayed the fuck out, or got the fuck out years ago, he did neither and the rapid decline has if anything speeded up.
I very much doubt if he could even give the club away in its current state
34 Posted 31/01/2011 at 19:34:57
35 Posted 31/01/2011 at 19:50:45
36 Posted 31/01/2011 at 19:51:10
I`ve read your posts`s so I know you believe Kenwright has deliberately thwarted or priced out any potentila buyer in the past.
I`d be interested to know; given that our situation now seems worse than we all imagined, do you think anybody would be interested in taking over now ? even if BK settles for a modest return
37 Posted 31/01/2011 at 19:38:57
He hoped DK would do the same, but Thank God he never got that one through!
Dennis. Perhaps I was a bit ambiguous with my wording, but what I meant was: Buying in expensive players like Fellaini, Yakubu, Johnson etc not only costs the fee it costs massive wages too. We have been on this slippery slope for nearly 20 years where our income wasn't enough to buy the players or pay them their inflated wages, hence umpteen loans, re-mortgages, Bear Sterns etc, etc. Even prior to this Chairman, Peteer Johnson was forced to sell Duncan Fwerguson by the Bank because the numbers simply did not add up.
Where BK and all other Premier League Chairmen have fucked it right up is by spending all the Sky riches on paying players silly money and niot spending it on keeping ticket prices down and in our case failing to improve Goodison Park.
I takes a brave man to tell sleazy agents to do one and with that in mind if a few more Clubs had done what Blackpool have done the whole thing may have been different. Unfortunately, dirty Russian criminals and obscenely rich Arabs have blown everything sky high with their limitless interference and everyone else has followed suit in this League with one or two notable exceptions.
Telling Pienaar to take it or leave it was a small step in the right direction, good player though he was. It is a joke that Everton have an income in the top 25 in Europe and yet cannot afford to buy anybody. Player wages are the root of all evil.
Kenwright's crime is being a fan and wanting the best players and trying to forget how he is going to pay for them. A sober headred businessman would have had us living within our means a long time ago, although of course you would have all sorts of Teds coming on here and saying he was trousering the cash, had no honest bone in his body and all the other nonsense.
38 Posted 31/01/2011 at 20:16:44
It'salso hard watching the RS being in a position to 'waste' so much money on a striker clearly worth half the fee they are paying.
39 Posted 31/01/2011 at 20:23:07
40 Posted 31/01/2011 at 20:37:52
What the fuck makes Bolton a more attractive option than Everton and what money have they got, with their half empty stadium, that we have not ?
Absolute joke, with Mr Moyes just gave one of the most depressing interviews on Sky regarding transfers that I have ever seen.
41 Posted 31/01/2011 at 20:28:34
42 Posted 31/01/2011 at 20:44:00
43 Posted 31/01/2011 at 20:44:11
44 Posted 31/01/2011 at 20:45:19
45 Posted 31/01/2011 at 20:57:12
46 Posted 31/01/2011 at 21:20:01
47 Posted 31/01/2011 at 21:52:24
48 Posted 31/01/2011 at 21:44:10
And hope for the best.
49 Posted 31/01/2011 at 21:55:50
Everton have confirmed the signing of Greek teenager Apostolos Vellios. The 19-year-old striker has joined from Greek side Iraklis Thessaloniki for a nominal fee. (BBC)
50 Posted 31/01/2011 at 23:36:02
51 Posted 01/02/2011 at 00:30:54
Moyes's spending has been mostly funded by sales & salaries seem to be around 60-70% of income. To my mind, that still begs the question ? where has all the other debt come from? What's the money been used for?
52 Posted 01/02/2011 at 05:34:02
53 Posted 01/02/2011 at 11:15:41
I don't have any time for the current regime, although until something better is on offer we are stuck with it.
I think the Club is a shambles off the pitch in many ways and weak management over the years has brought us to a situation where far too much is paid out to players and no income generating initiatives such as a new stand / stands / stadium are viable. A large box like structure in the car park, obscuring the view of the stadium as you drive towards it, is what we have been forced to accept. And, you can bet that most of the money it will generate will go to the others who have funded it.
Kirkby was proof of the Board's ability to say whatever suited them at the time and as a result I would never trust them again.
However, the point I am making is that despite that BK and his colleagues cannot help the ridiculous wages that are now prevalent. That is not their fault and is what has prevented any of the Sky money going on the stadium, cheaper tickets and buying players. Yesterday's events just go to prove yet again that Abramovich and the Arabs mainly have fucked our game right up. Torres is probably on £200k a week minimum and what sort of contract do you think Andy Carroll will have extorted on the back of such an enormous fee? Minimum £100k a week.
I guess we need an Accountant to look through the latest accounts when they come out later this month, but £80m income minus £50M wages minus £21M 'operating costs' & £3M agents fees leaves about £4M so as ever it's gonna be sell before you buy. It's been that way since John Moores left and when the trend reversed for a while under Johnson and we brought in Kanchelskis and Ferguson for big fees we soon found ourselves having to sell them again as we were living beyond our means.
We have deluded ourselves for 20 years. We either need a miracle or a new Board with boundless ways of generating money backed up with the financial muscle to stand as guarantors against the borrowing needed. Neither seems likely sadly.
Add Your Comments
In order to post a comment to the MailBag, you need to be logged in as a registered user of the site.
Or Sign up as a ToffeeWeb Member — it's free, takes just a few minutes and will allow you to post your comments on articles and MailBag submissions across the site.