Season 2011-12
The Mail Bag
So the cheque WAS in the post, after all!
23 Comments: After a delay of almost five months, Blue Bill's old friend Chris Samuelson has finally managed to complete his consortium's purchase of 51% of newly promoted Reading`s share`s from Sir John Madjeski.
The official reason for the long delay is given as the football authorities' concern over the source of the £25M involved in the deal. It now appears that all is in order and the Russian group's cheque is now nestling in Sir John's account. The publishing magnate is even moved to say "It's a deal made in heaven!"
So dear old Chris and his mate Zigaravich were for real after all! Perhaps our man just didn`t have enough faith... or patience. Perhaps, if only we had accepted his assertion that he was a lifelong Evertonian instead of laughing him out of that long ago AGM, our club would now be nestling in that state-of-the-art stadium on the waterfront?
But somehow, I think not. I have followed the Reading drama with great interest and I have to say that much of the verbiage attributed to Samuelson could have been taken straight from the pages of the Liverpool Echo of long ago.
But Sir John finally got his money. Somehow I suspect he will rue the day that cheque arrived. I still think we had a lucky escape!
Richard Dodd, Posted 29/05/2012 at 21:16:23
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He instigated a smear campaign against Gregg using Trinity News Group with classics like Gregg never comes to Goodison ? oddly enough neither does Earl but not once has this been mentioned in the Echo or Daily Post.
I wrote to John Thompson, the Echo's editor, after the disgraceful article penned by Dave Prentice last summer and was advised in an e-mail that the Echo were taking a keen interest at the time in the going's on at Everton. Given that Earl is a major shareholder in Everton, surely the media have a duty to investigate what his intentions are?
For all of his failures, of which there are many, Kenwright generally takes the flak with the other board members seemingly imperious to criticism.
you have reignited a fuse against your long time hero now.
I suspect even you are beginning to see the shameful liar that is Bill Kenwright.
This for me was one of Kenwright's darkest moments when he introduced this sham of a company simply to oust Paul Gregg who had become disenchanted with Kenwright's lies and incompetence to such an extent he went from being Kenwright's best friend to calling for Kenwright to change the share structure of True Blue Holdings to encourage more investment into EFC or resign as chairman.
Paul Gregg promised investment into the club if Kenwright resigned and, as with Kings Dock, the rest is history.
Peter, you are absolutely right about Earl ? especially given his history of taking companies under. The media should be investigating the person behind the high interest bearing loan from the British Virgin Isles company too.
Apparently, Zaguravich Junior actually went to school in Reading and has been a Royals fan all his life.I wonder if he can recall the name of the club`s manager when they last graced the Prem?One thing`s for sure, his mentor knew feck all about Everton`s history!
http://www.liverpoolecho.co.uk/liverpool-fc/liverpool-fc-news/2012/05/30/brendan-rodgers-odds-on-favourite-for-liverpool-fc-manager-s-job-amid-friday-announcement-rumours-100252-31073509/#sitelife-commentsWidget-bottom
Christopher Samuelson, a furtive Swiss financier, is in the business of mass-production of offshore and dummy companies for his wealthy and super-wealthy clients looking to disguise the identities and secrete assets. One of Samuelson's clients is Inna Gudavadze, nicked as the "Black Widow" amidst the allegations that she was complicit in the murder of her estranged husband, Georgian billionaire investor and philanthropist Badri Patarkatsishvili.
EFC?s need is far greater than that of Reading and the capital needed for us is closer to £400 million if you include purchase price and new stadium. Without knowing him personally and doing some general research on this chap, there are far too many doubts to the source of the money which leaves too many unanswered questions. Like him or not, until the source of capital is transparent, we are better off with what we have.
Peter 383, I have been saying this for years: people's obsession with BK is pointless and detracts from other Directors past or present that do have the wealth but chose not to use it, namely the Granchesters! He is a welcome patsy for many people and he knows it.
BOLLOCKS
If the club is to be moved forward, it will require significant capital investment in the infrastructure to use that as a foundation for driving matchday and commercial revenue, which ultimately will help sustain the team on the pitch. In other words a new stadium.
However, I do believe that if the right investors (being those with the right model of converting the required investment to equity), they could easily make a return on that investment as within 5 years you'd be talking about a club with an asset value in excess of £600m.
If Kim Jong Bill sold us tomorrow cheaply to someone with less than £300m to commit, I'd be worried.
If the Dear Leader sold to someone for his asking price of £150-180m I'd also be worried.
I'll agree that I'd be worried if Bill was to sell to someone for his asking price of £150-180m. I'd be worried that the buyer is completely off their rocker.
Just thank god he's got no sons.
People having their Salmonella and Chips, their beer in the Winslow, and even their lounge hospitality away from the club are revenue streams they are missing out on.
Stephen #547, I'm convinced the only reason he's hanging on is to hope that some mug pays up, as I'm convinced he's in hock personally to those behind the scenes. Why else, at his age, would you put up with all the shit? He's admitted his pockets aren't deep enough (though believe those who suggest TBH used a leveraged buyout anyway), and I don't believe even his mahoosive ego would keep him there.
The key to matchday revenue is a differentiated product to suit a wide variety of tastes and budgets
In fact I'm certain of it. I do think that he's had appraoches early on when the trajectory seemed to be constantly upward and he rebuffed them in the hope of being the man who took us back to the top.
In light of the new reality of world finance he must surely realise the only way out for him is to put some proper plans in place to develop the club and reach a value his exit demands.
I think there is sufficient space at Goodison to achieve all our needs.... medium and even long term (with only a small footprint expansion required). In fact just one new stand (or even enlarged existing stand) could probably satisfy all our immediate requirements in terms of increased overall capacity, new high-value capacity and supporting lounge space. The main point being of course, that Goodison is the only option for which this is achieveable relatively cheaply. For instance: an enlarged upper Bullens with new roof could readily add 4-5,000 new high quality seats, and any number of exec boxes above. The worst views in the lower Bullens could be dispensed with by reducing its depth and reprofiling, as was done with the lower Gwladys St. In the medium term, when demand dictates this new tier could wrap around the Park end too adding a further 4-8,000. The result would be the preservation an enhancement of the most traditional stadium in the UK. Encapsulating the old with new, modern structures including extended concourse and lounge areas.
I understand your point about lost revenues to surrounding pubs etc, but it would be almost impossible to justify outfitting the equivalent number of bars within a stadium..... wherever it is located. If indeed this was a potentially strong revenue stream, the club could've probably acquired many of these old pubs before now. Perhaps they still could, but I'm not sure of the viability in a two-team city.
In an ideal world a downtown stadium would satisfy all the location/transport issues and could greatly enhance our profile. It could also attract strong additional enabling funding given the broader, and higher-value development scopes. Unfortunately the current board have not only shown little or no inclination nor aptitude to deliver such an ambitious or "involved" scheme.... they actually engineered the demise of their best chance of achieving this at Kings Dock, as we all know. Therefore unless things changed quite dramatically, focus will continually return to improving what already exists as the only really viable option (as things stand). I don't think this is necessarily a bad thing, with huge potential to build on what we've got and achieve great/unque solutions!!!
DK needs no further comment.
My concern with BK is RE's comments that any new stadium has to be retail-led (doors closing), and Goodison cannot be redeveloped (minds closing) shows that he has to try to realise deliver some asset value before he can get anything. I honestly believe if DK had been given the green light, he'd have tried to sell on the back of the uplift land value (effective subsidy from KBC).
Tom #632, I understand your points, and agree with most. My utopian vision is that a new owner would not have the fiscal constraints we have, would have a couple of enabling partners (land not retail) in mind, and a suitable team and funds to deliver.
We both know that any such decision depends on a balance of opportunity/permissions/funding/deliverability - my contention that the business case would be stronger with a new site. My contention (deep breath, controversial) is that we need a new owner who at the very least can see the return on a 5 year investment plan of giving us the boost in infrastructure, and attendant boosts in commercial and matchday (I'd even argue a minor increase in broadcast) revenue off the back of it.
The good thing about Everton right now as an investment is it will not attract carpet baggers. We're not a financially-sustaining business. A funded plan with soft loans and ultimate equity conversion following a new stadium would be viable. The current board are not, have never, and never will be able to deliver that. The "progress" of the game has surpassed them, which may in part explain some of the short-termist finance decisions.
Therein stands the major obstacle as I see it. Who stands to gain the most from a retail-led development? A certain 'friend' of BK perhaps?
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364 Posted 30/05/2012 at 08:15:14
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I notice you don't mention yet another club with a new ground that is debt free has been sold for relative PL peanuts.
No-one's buying football clubs these day eh..,Bill?
Even your be careful what you wish for poster boys Leeds appear to have found fresh investment.
That said, it could be worse. We could have to sell our best player every year to stay afloat.