Season 2011-12 Fan Articles

In Response To Mr Kenwright...

By Charlie   Percival  ::  20/08/2011   12 Comments (»Last) Well I?m not impressed. I?ve made some comments as I?ve read through the first link.

1.Derek Hatton has not got a good reputation and I?m surprised he?s named as an ally. That?s not good and I don?t think and reputable company would want to buy Everton if Derek Hatton was in the picture.

2. Why don?t they involve someone reputable like BBC pundit John Parrot instead?

3. Paras 13, 14 - Man City were also sold. Also, taking over a debt is part of a sale. Liverpool owners bought the club which includes taking over any debt. Not sure why Kenwright is saying this. It?s a stupid thing to say.

4. He keeps saying he doesn?t know why the club isn?t sellable and yet he says he?s the best person to sell it. This is a huge contradiction and a stupid thing to say. A man at the head of a business knows why his business won?t sell better than anybody. It?s common sense.

5. He?s saying he won?t give exclusivity. But that?s exactly what he?s doing by doing everything himself, which I think is very little. He?s hanging on to his shares until they increase in my opinion. Also he can get his mortgage money back immediately he resigns his directorship. He may have mortgaged his house but did he lend the club any of the money? Where did it go? If he did then when he sells or resigns Everton will have to repay the loan to him, probably with interest.

6. ?Theres a guy in Italy and Abu Dhabi?. It says nothing. Who do they represent and who are they? What?s the value being put on the club. Is it too high?

7. By saying there?s no money out there is utter rubbish.

8. He then evades the shares question.

9. EBITDA is an accounting model I don?t think a football club should be using. It?s more aligned to Telco?s who have to invest millions in hardware for networks, for example, which take years to complete before they can use the network and get a return on their investment. Football's not like that, it?s much more short term. I think Kenwright is trying to baffle them with science and he?s unclear of the mechanics himself.

10. When he says I?m not going to get angry means he is getting angry. When people get angry it?s often because they feel guilty and go on the defensive.

11. Re the cash-flow statement, I think it?s nonsense. He needs to re finance the club with another bank. There are loads of banks out there who would help. If the current bank won?t help then move. The whole statement is full of contradictions. Why would Sky money be anything else but a positive? I don?t see what that?s got to do with borrowing.

12. I think Bill's going a bit mad. He?s obviously feeling threatened and making very awkward remarks and statements. He?s meeting someone at 8 tonight ???.. his doctor ?. And so on. He?s gone mad!

13. Next it?s a disgraceful answer to say he doesn?t know what Other Operating Costs are ? "it?s just a heading" ... that?s incompetence. A chairman should know what every entry is in the clubs accounts particularly when its £24M!

14. He?s very defensive and they?re right he should know what this money is. He is now becoming threatening. Not good.

15. I?d have asked who audits the accounts. Who are the accountants and who are auditing the entries to ensure they stack up? If the money is going to the board under operating costs that?s all legal so possibly that?s where it?s gone. But of course he won?t say.

16. I do accounts with my accountant with my company and it?s not rocket science. The only government obligations are that accounts should be presented to Companies House (completed by a qualified accountant) once a year, 3 months after the end of year closes. As director, I am obliged to know what all the figures are. It?s also a legal requirement that all entries are supported by adequate records which must be kept for 6 years I think it is. To say he doesn't know is bordering on illegality (if he said that to a government inspector).

17. You don?t need to be a shareholder to get hold of any company?s accounts so not sure why he is saying that. It costs a pound to get them from the government centre based in Cardiff. You can also do due diligence on Dunn and Bradstreet. Don?t have to be a shareholder and it?s too expensive anyway. Everton shares are about £1,500 each (nominal shares).

He is an actor and this interview is pure theatre, that?s all.

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