ToffeeWeb - Season 2010-11

The Mail Bag

KEIOC Questions

Follow this link to some questions being posed, to the board, by KEIOC.

Some interesting stuff here, but the one that intrigues me is question 5 regarding Finch Farm. How on earth does us paying over the odds (if we did) for FF then line the pockets of Sir Alex Ferguson and "other" Premier League players?

Anyone got a clue what this is about??

Howard Don, Aughton Posted 12/01/2011 at 07:59:20

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Michael Kenrick
Editorial Team
1 Posted 12/01/2011 at 13:57:20

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That one had me struggling...

Colin?

Stephen Kenny
2 Posted 12/01/2011 at 15:06:02

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I think KEIOC need to stop asking questions that anybody with a modicum of common sense knows Bill Kenwright will dodge to his dying day, and just campaign to remove him. Asking a proven LIAR to tell the truth is a waste of time.

I honestly think they would get a fair bit of support from the ordinary match-goer after the way this seasons gone and the almost deafening cries of poverty from misery guts Moyes at every transfer window. It's obvious they are the only set of Evertonians who have the wherewithal to do so. By the way, I'm not passing the buck ? I'd be more than happy to help in any way possible.

Colin Fitzpatrick
3 Posted 12/01/2011 at 16:16:02

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Michael,

The ultimate owners of Hudson Capital Properties [HCP], formerly ROM Capital, are the aAim Group; Ferguson was originally brought in on the board to attract wealth from the football industry. Part of the business went into administration last year, he's meant to have lost quite a few quid. A new fund is being promoted now using Ferguson and David Frost as the attractors. Here are a couple of links:

Fergie signs up to new £1bn property fund

Ferguson and Frost Unite for Property Venture

Stephen,

The reason for the questions appearing on KEIOC's website was that Robert Elstone was meant to be on Radio City tonight taking questions from the fans, unfortunately he's cried off, City told us this morning that he has flu... I'm saying nothing. Here's another link on aAim:
http://business.timesonline.co.uk/tol/business/industry_sectors/construction_and_property/article5282598.ece

Alan Clarke
4 Posted 12/01/2011 at 16:47:31

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We all know bullshit Bill's response will be: "I'm bored of these questions."

These questions should be asked over and over until that cretin Kenwright is forced to give an answer. If he won't answer then he should be made to explain why he won't answer them. His inability to run our club properly needs to be shown up especially to those who are stupid enough to still support him.

James Cadwaladr
5 Posted 12/01/2011 at 17:40:27

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I think the lining pockets question may refer to the payment of agents fees.

James Cadwaladr
6 Posted 12/01/2011 at 17:41:27

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Or not judging by Colin's post. Thanks Colin.

Tony Waring
7 Posted 12/01/2011 at 17:42:21

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I think KEIOC have every right to pose these questions and I echo their sentiments. I would love to be a fly on the wall at the next board meeting. In particular I would dearly love to know what Sir Philip Green has to do with all things Everton; he probably doesn't even know where Goodison Park is.

Michael Kenrick
Editorial Team
8 Posted 12/01/2011 at 18:15:40

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Off-topic comments have been removed. If you are going to contribute a comment, please address the issues raised.

Karl Masters
9 Posted 12/01/2011 at 19:24:00

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All of these are valid questions in my book.

On a day when we are seemingly about to lose two very good players for not very much, one of whom was due to not paying enough wages, and there is no real sign of any incoming moves, the Club's financial predicament should be sharply in focus.

Moyes's and the players' efforts on the pitch in recent years have glossed over too many unacceptable things off it.

We all know that we can't be told everything. Any reasonable fan accepts that, but there is so much bullshit given out, that you are almost scared what you might find out if the truth was revealed.

Howard Don
10 Posted 12/01/2011 at 19:57:04

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Thanks Colin. I'm still not sure how or why we have ended up paying 5 x the project cost. Is this because we don't actually own the complex and your figure comes from projected leasing costs? Or am I barking up the wrong tree there?

David O'Keefe
11 Posted 12/01/2011 at 20:27:12

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Howard: to clarify the club mortgaged the asset off and are paying a fee to said company each and every year for a set number of years. To conclude, you guessed correctly.

Gavin Ramejkis
12 Posted 12/01/2011 at 23:45:38

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Thanks to the removal of the AGM a serious question which every shareholder should be asking and deserve an answer to is "One figure that is mysteriously increasing is the figure posted for "other operating costs"; less than £2m when the premiership began, the latest, or should that be last, figure posted was over £21m, more than 25% of the current turnover and the vast majority of shareholders don't know what it's being spent on." Creative accounting apart, my repeated questions on how long you can sustain a business model which is solely based on selling players can last.

Tom Hughes
13 Posted 13/01/2011 at 11:32:30

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Gavin,
I completely agree.... The simple answer is we aren't sustaining it, and no amount of cooking the books is going to hide it....

The only logical conclusion to the current modus operandi is at best mediocrity followed by eventual decline. DM has had to generate everything from a few highly prudent transfers and a couple of decent windfalls. When that cash-flow freezes up all progress ceases and the good work is undone.....

There are signs that even his patience has now gone. Despite his best endeavours, his room for manoeuvre is still diminishing all the time..... the forced loss of Pienaar and/or Yakubu to facilitate maybe one new loaned arrival speaks volumes about our true predicament.

DM may be able to push us up a few league placings before the end of the season, but it is still papering over the cracks, and ultimately represents a massive missed opportunity IMO.

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