Season 2012-13 » Opinion » Editors Blog
The Current Takeover Rumour
Last week, we published a cryptic note that claimed a takeover of Everton FC Co Ltd was in an advanced stage, with the parties going through the usual due diligence to check the books, etc.
Now everyone involved is usually very coy about this sort of thing, so getting any concrete information about what is going on can be difficult, if not impossible. There was abundant skepticism about the source of this rumour, who signed himself in as Richard Tolman — unlikely to be his real name. And there was a conviction among many that this was complete bullocks, timed as ever to coincide with the transfer window and to be used presumably as an excuse for the club's inability to free up funds for any meaningful involvement therein.
However, Richard has provided some follow-up, which to me might have a feint whiff of authenticity. Yes, it could be a complete hoax... in which case, the lad must be commended for his feigned sincerity and persistence. But I still think there might be something in it...
On that Takeover thread in the Rumour Mill, in addition to all the skeptics, there were some interesting comments generated:
Stu Smith said: "I think it's quite well known that Bill has turned down 3 takeover bids purely because the buyers want to run the club the same way as the Glazers run Man Utd, ie – put all the debt on the club."
Really? There was the Jain Group.... I can't name the other two. But I did swallow the story that the Blue Union was persuaded to drop their (at this point) final protest because buyers were imminently poised... and I guess we all know what happened next??? Nothing.
Dean Adams reminded us: "It makes no difference what ToffeeWebbers think or say or feel. We have no bearing on matters. We are just insignificant because we don't have the money or the power, so the reality is why waste your breath on all this slating the board all the time?" — or worrying about whether we will be taken over, and if so, when and by whom?
In that sense, it's a bit like the transfer window, which opens tomorrow. Of course we have zero influence... but that doesn't stop us having maximum interest in something that could potentially change the course of our club.
One thing we were all hoping for was a glimpse of our new suitors in the Directors Box Sunday... what? Nothing to be seen here? That was a bit of a let-down...
But, somewhat ironically, Richard Tolman is asking us to keep up the heat with our coverage of the non-story that has failed to tweak the interest of anyone in the mainstream media. Either nothing is happening... or that is a testament to the effectiveness of the internal blackout, and it would mean that Paul Tyrell is being... shall we say, evasive when he tweeted yesterday that "there are currently no new developments in relation to investment."
Richard says the reason he has had to be so vague and secretive about what he reveals is to protect the source of the information regarding the takeover, it would totally betray the person who told him: "I would love to give you the full details of what I know at the moment. But this would leave me and my source with a big finger pointing in our direction."
Er... of course. He goes on to say: "Forget about who I am, the story is going on behind the scenes at the moment; if enough pressure is placed on Everton, they will have to confirm or deny this is going on!" — Well, they've denied it.
Richard continues: "I noticed that Everton's Communications Director has already come out on twitter and denied it. I was reluctant to say anything at all but forcing this into the open may force some answers from the current board about the asking price and, if this deal falls through, why has it fallen through." Hopefully not because you spilled all the beans everywhere, Richard!
"This deal I can assure you is at quite an advanced stage. I understand the scepticsm, surrounding my initial post, but if we keep on pressing, information will come out. Direct questions towards our board members may force them to reveal what the hell is going on behind closed doors."
Okay, let me stop you there. Let's say there is a takeover in process and they are in due diligence, behind closed doors. What's to stop that continuing to its ultimate conclusion? Certainly not people on t'internet asking probing questions?!? And what is going on? Well, if you're right, due diligence is going on. They are going through the books, checking all the details, confirming the basis for any deal. No mystery there, surely?
"I can assure you that I do not enjoy playing the role of Deep Throat on Watergate. Please press ahead with forcing the issue on what is happening with this investment. Sorry about the cloak and dagger, but I hope you understand."
Well... okay... but now you're making it sound a little too melodramatic. I just can't buy in to this "forcing the issue"... but hell — don't listen to me, because...
"If no answers come from the club very soon, I will release more detailed information. Your instincts were right to show my initial post."
Alright! That's a great big shiny hook and I'm gobbling it right up. Ignore my silly comments — I can't wait to see what comes next...
Michael Kenrick
Posted 31/12/2012
Reader Comments
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281 Posted 31/12/2012 at 23:09:26
282 Posted 31/12/2012 at 23:14:16
Anyway here's my suggestion: I trust Michael & Lyndon; never met either of them but they work their socks off on this site and run it fairly. So email them privately. Make clear it ain't for publication and give them something more concrete.
If they think there's something in it they can say so without compromising your source or repeating the details. As I say, I would trust them to make that judgement. If you don't fancy it then buzz off with all this "in the know" stuff without any substantiation to it. Which I say respectfully, of course.
284 Posted 31/12/2012 at 23:47:56
285 Posted 31/12/2012 at 23:59:42
287 Posted 31/12/2012 at 23:53:48
Maybe, oh maybe Moyes's tactics have worked. Or maybe the BU or KEIOC have some dirty little pictures of BK doing something to someone he shouldn't be?? I love it all and will be waiting with baited breath as to who will be taking over. I just won't allow myself to be let down when/if we're stuck with our Fat British Librarian going forwards.
Happy New Years everyone. Keep dreamin' and it might happen
288 Posted 01/01/2013 at 00:04:26
I don't know whether this one is true or not, but I hope it is. I wonder if any of the investigative journalists in the Echo will do any digging, or do they still owe the club?
290 Posted 01/01/2013 at 00:10:09
Everton may have a secret all be it a clandestine investor to save our sinking ship: Who could it be? Is Richard Tolman an RS in disguise pulling our chains? may-be its DM using a bit of his Celtic nous in an attempt to cause total confusion before he enters into his protracted (holding the club to ransom) negotiations.
I only hope their is some truth to What has been posted, I respect MK's ability to smell a rat lets hope his sniffing skills will not be undone by the furtive Richard Tolman.
292 Posted 01/01/2013 at 00:35:16
For the sake of the club if or how I'm proved wrong but it all sounds like utter bollocks to me! Only time will tell......
293 Posted 31/12/2012 at 23:50:01
The usage of "we" and "our" alluding to "behind closed doors" makes him appear a fan with knowledge of the anti-Kenwright feeling. Seems a Kopite trouble maker to me, even the most innocent Evertonian would think "best keep schtum here I might upset things".
Spilling the beans after a deal collapsing with all the murky detail would be more effective for a genuine ITK rebel.
310 Posted 01/01/2013 at 03:29:02
I suspect it has more to do with the imminent release of the Club accounts and to distract from their failings and failings in the transfer window.
312 Posted 01/01/2013 at 04:02:44
313 Posted 01/01/2013 at 04:29:26
314 Posted 01/01/2013 at 05:05:27
Since EFC has denied it, it is bollocks or in a sensitive stage that can be scuppered by its public revelation. Either way, I wouldn't want to know about it.
317 Posted 01/01/2013 at 07:12:31
If there is any truth to the rumor then the club would lose nothing by confirming its discussions with an interested party without giving names. But that's not the Everton way is it?
321 Posted 01/01/2013 at 08:26:57
A simple deal could involve just 2 individuals. A more complex deal like ours could be many - Bill and main shareholders, Bobby and other club officials, the bankers, the lawyers, the accountants performing due diligence, certain creditors, a selling agent middleman, the other side acquirers, their accountants, their lawyers, their bankers etc. Assuming it's down to only one acquirer rather than final bids otherwise you multiply the cast again - with a loser perhaps muddying the water.
Keeping this all confidential when you have so many people involved in a deal that has football as the business rather than widgets is a night mare. The deal process can take an age, again depending on what is being bought, and how long it takes to iron out uncertainty on both sides.
It could be rubbish, or it could be that someone within an inner circle of 50 plus people has opened their trap.
Sadly hopes will be raised and dashed a number of times before the current board pack their bags - the nature of the beast. So keep up the good work Michael.
322 Posted 01/01/2013 at 09:04:08
"However, Richard has provided some follow-up, which to me might have a feint whiff of authenticity."
Really? What exactly has he provided? Further obfuscation and vague non-statements that reveal absolutely nothing.
Sounds like someone got the X-Files boxset for Xmas and is relishing in making themselves temporarily important.
Let's focus on what's really important, taking the fight to Newcastle tomorrow and getting back in the chasing pack after a bad beating.
323 Posted 01/01/2013 at 09:09:28
327 Posted 01/01/2013 at 09:50:50
I don't buy the idea that you'd leak a story, but not the details, to protect a source.
328 Posted 01/01/2013 at 09:54:41
It's sad and it's embarrasing to be honest.
Ask yourself: If someone had a contact in the club who's job might depend on keeping information confidential, would they even be told by that person, and even if they were would they tell the world on Toffeeweb.
Absolutely ridiculous! Someone's taking the piss and having a laugh at Toffeeweb's/Toffeewebers expense.
329 Posted 01/01/2013 at 09:58:27
Another consideration is it smacks of bully boy tactics, meaning we could be getting a bigger bunch of chancers, and all of a sudden Bill looks like the better bet.
The only information fans would want about any deal is how it is being financed and what are the long term plans for the club.
Of course, it could all be shite.
Happy New Year T'Webbers
340 Posted 01/01/2013 at 11:20:13
A cover story to get our minds off the fact that Moyes probably will not sign a new deal, also the yearly accounts are soon due, so this is Kenwright's contacts in the media doing one on all of us.
None of this matters, the story is a joke and the name smells funny as does the language in the article.
341 Posted 01/01/2013 at 11:43:27
Seeing as you admittedly have fallen for this unlikely tale, can I pass on a word of advice if you get a letter from Nigeria stating you have won a fortune on their lottery please don't send your bank details to them.
342 Posted 01/01/2013 at 11:16:25
345 Posted 01/01/2013 at 12:06:13
Welcome to 2013.
346 Posted 01/01/2013 at 12:15:56
"Is must be the unseasonally wet weather"
"Do you know how much they charge to go through the Mersey Tunnel?"
"Ask the toll man- he knows everything"
"Well goodbye. give my regards to Aunt Millie"
"Only if I see her before Easter"
351 Posted 01/01/2013 at 12:46:11
Bill Kenwright & Jim Carrey - never seen together - could they be one & the same?
352 Posted 01/01/2013 at 12:55:22
361 Posted 01/01/2013 at 13:11:10
365 Posted 01/01/2013 at 13:35:18
369 Posted 01/01/2013 at 14:47:57
Why use the alias of Tolman, a surname involved in the supply of sporting goods?
Why would a genuine source say look in the Directors Box next game for clues?
370 Posted 01/01/2013 at 15:03:42
403 Posted 01/01/2013 at 19:02:07
Another case of Billy Liar tickling our balls all through the transfer window with the end game being no new players.
Due diligence? What the fuck? Just do: Money In against Money Out and a value on the place — it can be done in a minute. The club isn't worth a carrot, has no assets other than players, no property free of any charges or re-mortgages to speak of, and is run by clowns — what potential buyer would be taken in by this dope?
So forget any take over rumours; we are still waiting for "the interested parties" to make their minds up. The big picture here is to kid us along again through the transfer window .
416 Posted 01/01/2013 at 20:29:10
417 Posted 01/01/2013 at 20:40:04
I would like it to be true, but until I see, in the middle of the pitch waving his new blue scarf; a Texas Billionaire ye haw-ing it or a russian with snow on his boots or a levantine hued tea towel wearer.
I won't hold my breath.
418 Posted 01/01/2013 at 21:10:23
..According to David Icke.
420 Posted 01/01/2013 at 21:45:00
It is definitely a more than a bit whiffy.
423 Posted 01/01/2013 at 21:46:26
426 Posted 01/01/2013 at 22:12:17
That part of my comment is quoting the original post which I think I was relatively clearly disputing.
433 Posted 01/01/2013 at 22:19:49
Unfortunately such prudence also works if the turn-off is an inflated asking price or an unwillingness to hand over full control to someone else.
What would prompt a prospective buyer to prefer dealings to be kept confidential at this stage? Perhaps a desire to keep a low profile, with a figurehead eventually running the club on behalf of the real financial power? Other than that, I don't really have a good suggestion.
So who benefits from blowing it all wide open? The current board would certainly be put in a difficult position if it became apparent that they were passing on a reasonable offer, essentially holding out for more money. Busting it wide open from the other side of the deal just seems to run the risk of scaring people away rather than forcing their hand in some way.
If someone was involved in the preliminary talks / introductions but then excluded from the more in depth discussions / negotiations then they could only provide limited information and would risk exposure as the source of the leak. Someone may have a vested interest in a successful outcome (some kind of completion bonus) without being one of the main players involved.
So, I would think, there is a possibility that this post is rooted in truth but ultimately we are unlikely to know anything about it unless it bears fruit. As has been suggested, do we want it exposing if that is the thing most likely to kill the deal? Richard Tolman may be more concerned with getting the best deal for his mate rather than what is best for EFC.
Or is public exposure of our boards unwillingness to consider deals that don't stuff their pockets full what is actually at stake? (I am hypothesisng not claiming.) The one thing that would blow away all the suspicion that the club cloaks these deals in secrecy would be one done out in the open.
Personally, I don't know what is likely / unlikely in the murky world of club takeovers. I am just waiting for the happy day when it is announced that EFC's finances are in robust good health, we have transfer funds sufficient to compete with all but the super-rich clubs, and a workable solution for an updated / new stadium. I don't mind if that comes as a bolt out of the blue, as long as it comes sometime soon. That said, if nothing is going to happen it would be nice to know it is not for the want of trying...
438 Posted 01/01/2013 at 23:17:35
It appears that RT is concerned that if the deal is not done it will be because the current owners have somehow managed to resist or deliberately don't want this particular deal to happen. As the whole thing is shrouded in mystery - due to confidentialty clauses - we may never ever find out unless someone in ten years time wants to publish them in their memoirs.
For any other RT's of this world - do us a favour and keep stum until a deal is completed, which we will see for ourselves or if a deal has failed and it is something outrageous then get the appropriate evidence and publish and be damned.
Secrecy and paranoi are best left to the Ian Fleming's and John Le Carre's of this world.
Michael if RT does expose something juicy will you be up for the Pulitzer Prize?
450 Posted 02/01/2013 at 00:29:30
If it is true and, if it goes through to completion, let's just hope they have the resources, the business acumen, and a real interest in the club and are willing to invest in the team. COYB
461 Posted 02/01/2013 at 03:21:21
469 Posted 02/01/2013 at 05:29:45
472 Posted 02/01/2013 at 07:00:59
Every transfer window and season ticket renewal time we get this. An insult to MOST Evertonians intelligence.
473 Posted 02/01/2013 at 07:38:57
Of course, we have no chance other than to wait and see whether it is all BS or not. Maybe Billy has bought a winning Lotto ticket :).
481 Posted 02/01/2013 at 08:52:27
Make of that what you will.....
496 Posted 02/01/2013 at 10:24:29
Would anyone want to be bought by Venky's for example? Thought not
515 Posted 02/01/2013 at 12:49:18
556 Posted 02/01/2013 at 15:57:16
Not sure it is reasonable to assume that any potential buyers will be as bad as Venky's.
557 Posted 02/01/2013 at 16:10:58
The fans are happy with the way the team are performing and also don't expect any money to be spent in January, unless we sell first.
The accounts aren't due out for another couple of months and again, a made up takeover story wouldnt do anything to help them.
There are currently no groups outside the ground protesting like last year, and Bill has been able to keep his head down all season, so why wake the beasts that are the Blue Union and others, up himself? The only person that Bill has to bull shit at this moment in time is David Moyes, as we all know he is desperate for him to sign a new deal, but again, a made up takeover story wouldnt help, because Moyes has until the end of the season, and I very much doubt Bill could peddle this long enough to fool Moyes.
560 Posted 02/01/2013 at 16:25:10
There have been enough rumours around conditionality attached to any sale to suggest that BK is adamant that any sale will be to the "right" buyer, but then there's enough counter-rumour to suggest that there won't be a sale due to the "blockers" mentioned by Greg Lambden above.
The increasing overseas TV deal suggests that an asset-building/replacement strategy based on increasing brand value, with a new stadium to improve revenue streams would mean that Everton, with it's current relatively poor performance in secondary revenue streams, actually represents a viable investment. At the right price of course.
563 Posted 02/01/2013 at 16:31:17
566 Posted 02/01/2013 at 16:40:53
567 Posted 02/01/2013 at 17:00:29
568 Posted 02/01/2013 at 17:08:08
569 Posted 02/01/2013 at 17:06:00
Is it January anyone?......
Hmmmm....
674 Posted 02/01/2013 at 22:48:57
680 Posted 02/01/2013 at 22:59:41
796 Posted 03/01/2013 at 09:38:14
Enough of this. What/Who is Venky's anyhow? Now that I haven't lived in UK for the past 25 or so year's I can only assume it's a chicken fast food company.
Good to recall the scouser sense of humour.......... very much appreciated. Thanks you guys.
979 Posted 03/01/2013 at 19:29:38
I can't see it myself. Hope I'm wrong but all the statements just seem ludicrous to me:
"trust me" (trust an anonymous blogger?),
"ask questions" (Evertonians have been asking questions for a long long time),
"something is in advanced discussions" (Yawn, we've heard this before. Although, BK's latest video interviews make for interesting viewing on the point of investors etc. He doesn't seem or sound too desperate .... I would be in his position),
"they may deny it" (The Everton Board have a history of denying things and have come out and done so again. This is nothing new and proves nothing either way).
I've more hope in some new signings - Butland, Lescott,
Vadis Odjidja-Ofoe + a striker please !!!! (dreaming)
996 Posted 03/01/2013 at 19:55:49
[Unfortunately it wasn't real fur as I'm skint!]
016 Posted 03/01/2013 at 20:50:23
178 Posted 04/01/2013 at 11:17:35
207 Posted 04/01/2013 at 13:12:07
All it means is that people get more hacked off when it doesn't happen and blame the board for stopping something that was never actually happening in the first place. It also goes against the official line from the club and so just breeds distrust from supporters, aswell as being a 'boy who cried wolf' scenario that nobody would actually believe it when/ if there was genuine interest.
Saying that, who are these mythical people who go out and buy season tickets because they've seen a rumour on twitter/toffeeweb etc about having new owners? I only ask because i've got some lovely stripey paint I think they'd be interested in.
In this case it clearly isn't the club leaking it because they're telling people to hound the club and the press, which certainly wouldn't be in their best interests. It looks to me more like a militant fan wanting to make a big deal about the lack of investment.
258 Posted 04/01/2013 at 15:49:17
I quote: ".............and I have to have a feeling, don't I, right at this moment, that this is going to be, maybe the month even, Darren.............when I introduce the person to the Everton faithfull and to David Moyes who will be able to write out the cheque that I can't.................".
333 Posted 04/01/2013 at 18:54:03
Probably all bollocks but better than waiting to sign the scottish rooney on loan again...
338 Posted 04/01/2013 at 19:12:45
341 Posted 04/01/2013 at 19:16:39
345 Posted 04/01/2013 at 19:26:54
577 Posted 05/01/2013 at 16:33:25
681 Posted 06/01/2013 at 00:21:44
738 Posted 06/01/2013 at 09:48:46
159 Posted 07/01/2013 at 22:29:03
227 Posted 08/01/2013 at 03:04:27
552 Posted 09/01/2013 at 12:24:55
Maybe time for further information on this? Although the character concerned didn't divulge what "very soon" meant when he said "If no answers come from the club very soon, I will release more detailed information. Your instincts were right to show my initial post."
842 Posted 10/01/2013 at 18:19:55
Provided he's logging in from a previously used machine, it would be easy enough to identify if this is a regular logging in with a different ID, but giving him the benefit of the doubt for now.
"If no answers come from the club very soon, I will release more detailed information"
Surely 2 weeks would constitute 'very soon? Can we press Richard Tolman for an update TW?
847 Posted 10/01/2013 at 19:03:46
924 Posted 11/01/2013 at 05:17:33
427 Posted 13/01/2013 at 12:17:49
431 Posted 13/01/2013 at 12:47:20
289 Posted 17/01/2013 at 07:33:27
The deal is still ongoing. I can't add much more at the moment, I don't know time scale, whether the deal will go through, the prospective owners have been at the last four games including the FA cup tie. I can't really give out any names yet, if the deal falls through I will give you as much info as I can. But let me say this, if it does fall through I will want the club to come out and tell us why! If there are any developments I will let you know.
762 Posted 19/01/2013 at 13:27:51
469 Posted 28/01/2013 at 11:16:38
Can't belive that somebody would take over the club after the transfer window closes!! They would want to strengthen the side to push for the CL money next season not lose out.
Or prehapes it's all a load of bollocks
292 Posted 02/02/2013 at 22:39:56
602 Posted 18/04/2013 at 08:02:54
Mr editor??
691 Posted 18/04/2013 at 18:36:04
???????????????????
693 Posted 18/04/2013 at 18:44:27
713 Posted 18/04/2013 at 20:11:27
715 Posted 18/04/2013 at 20:16:24
718 Posted 18/04/2013 at 20:30:15
How many trophies has Moyes' best squad won? Exactly.
This is the same best squad that got humiliated by Wigan, beaten in the League Cup by Leeds, battered for half an hour by Oldham.
Why ditch Moyes? He hasn't won ANYTHING in 11 years and he is too cautious in big games. I want a change because I want Everton to BE THE BEST not 6th or 7th best.
I want a manager with more ambition. I agree he has got us to where we are now but I feel a change is needed to push us further forward.
723 Posted 18/04/2013 at 20:38:05
767 Posted 18/04/2013 at 22:04:35
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280 Posted 31/12/2012 at 23:06:32