What do Evertonians want from the purchaser of our football club from Farhad Moshiri?

I think that’s a reasonable question upon which to base the relative merits of potential bidders. Many in the media, not all, of course, take the latest press release or briefing from Moshiri or perhaps the company engaged to generate buyer interest, Deloitte and publish the information the interested parties want us to hear. It often involves buzz words such as equity, multi-billionaire, high net worth, international investors and even unspecified associations with the Saudi Royal families. It seldom, if at all, includes scrutiny (again with notable exceptions – 777 being the obvious and exemplary case)

What we want, and what we need is much more complex though. All Evertonians want the club to return to the forefront of the English and even the European game, but most recognise (i) the position we are in and (ii) the yawning gap between the very largest, now most successful clubs and ourselves.

From my perspective (and I can only speak for myself) I am fiercely competitive and want Everton to win every single game and thus every single tournament or competition we enter. Logically, I know this is impossible – it’s always been impossible even in the most unbalanced of leagues and competitions. Nevertheless it still doesn’t reduce the crushing levels of disappointment when we lose a game, when it becomes apparent we won’t win the Premier League, when we won’t qualify for Europe and when we get knocked out of the domestic cup competitions.

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However, there is a path back, first of all to respectability, then to competitiveness, then to winning and finally back to being global leaders not also-rans. There a huge number of component parts to achieving that. Just having an Evertonian in charge doesn’t achieve that (Kenwright, a past example), just having a multi-billionaire owner (Moshiri, a present example) or being owned by Saudis (just as a possible future example – Newcastle?) isn’t a guarantee of success.

The future model for success

What we are competing against is a number of clubs whose thinking about the game, about their business, how to generate revenue, where those revenues are generated from and the use of the balance sheet as a means of creating value for investors, attracting suitable partners and in the case of State owned entities, achieving geo-political objectives is way beyond just having a new wealthy owner.

Everton, as a football club, struggles to execute the football business strategies of the 1990’s and early 2000’s, let alone even consider the ambitions of the most powerful clubs at national, European and global levels and the strategies not just of the 2020’s but those of the second quarter of the 21st century and beyond.

In football, not a business known for generating profits per se, the balance sheet is hugely important. The massive inflows of income into the game have inflated asset values beyond recognition – in a sense covering up all the poor business practices of many owners.

However, successful and industry dominant businesses, raise capital from investors, borrow appropriately and invest those resources in assets that generate revenues – cash, the one item that keeps all businesses alive. They invest in assets to grow their balance sheet whilst looking to (i) increase income and (ii) maximise income sources – including critically diversification.

Diversification is essential to succeed in football going forwards and I don’t just mean the traditional matchday, sponsor/commercial income, Premier League revenues mix – that is the 1990’s model I referred to earlier.  Matchday and sponsor/commercial income will always be important and owners will always seek to maximise those opportunities. However with regards to broadcast income,  the future model is to see the Premier League as just one of a number of revenue streams. UEFA revenues and as we will see in the future, FIFA club competition revenues will be critical to future success. Add in the as yet untapped digital revenues streams and football becomes an event business, a media business and a digital revenue generator as well as a professional sporting entity.

Successful businesses also invest in human capital, at board level, executive level and throughout their organisation. In football recruitment and the development of young talent player and management-wise is critical, given that whatever the business strategies are and no matter how good the C-suite is, objectives can only be achieved by success on the pitch. Investment in academies, not just locally but internationally will form a significant part going forwards. Equally professional development of managers, coaches and scouts has to be part of recruitment and retention policies.

Back to Everton

So that’s a brief summary of the scene, and the likely competitive environment Everton and its new owners will find itself in. However the more immediate requirements will be the first items on any new owner’s agenda, namely:

  • Recapitalising the business
  • Funding the stadium
  • Sorting legacy issues from previous owners
  • Investing in the football team, stabilising our Premier League status

As I have published previously – debt is a huge issue. It is anticipated that Moshiri’s shareholder loans will be capitalised or written off (albeit with potential tax implications), but that leaves £580 million of third party, interest bearing debt. Most of that debt is secured (Rights and Media Funding plus MSP). The 777 loans are secured but are much more junior.  It is highly unlikely that any new owner would repay each of the debts in their entirety – it is most likely that a senior debt package secured against the stadium of perhaps £350 million would repay most of the Rights & Media/MSP debt. This debt would (i) have a much longer maturity and (ii) be significantly less expensive.

The treatment of the 777 debt is more complex and will to an extent be driven by what occurs in the US regarding 777 and A-Cap and their current civil cases, particularly as defendants to  Leadenhall (and others).  A-Cap have control but as per the Leadenhall case, there are questions surrounding the precise outcome. Regardless, the expectation would be for a significant write down of the value of the debt and a repayment schedule offered long term with minimal interest costs.

The remaining funding of the stadium (probably now mid 70’s in £millions) and the reinvestment in the playing squad requires non-debt funding,i.e. equity. Additionally, further working capital is required to meet future losses, investment in some of the areas mentioned above and of course, growing a functioning business unit to meet the future challenges identified at the top of the article.

If debt in the new ownership model (long term, secured against the stadium) is £350 million,an incoming owner is likely to have to offer in excess of £400 million in equity funding. That might be reduced pending what appears to be inevitable player sales this window, but again the footballing operations including players need to be strengthened considerably, so the £400 million is a reasonable,minimum figure.

Bell, Downing & MSD

I’ve been asked to provide views on the potential purchase of Everton by two local businessmen Andy Bell and George Downing. Applying the same levels of scrutiny to their businesses and business ethics compared to say 777 Partners (Moshiri’s previous choice) is relatively easy. Both Bell and Downing have exemplary business records,built on integrity, hard work, professionalism and expertise in their chosen fields. They are by any standards, fit and proper. No-one should have any doubt with regards to that. Comparisons with previous Blue owners don’t warrant much attention neither. For every Kenwright there’s a John Moores.

There’s the question of wealth? Neither profess to be multi-billionaires. Their willingness to invest in the club and the degree to which they can clearly depends upon funding from other sources. In the first instance MSD appear to be the chosen funding partners. Previously MSD have provided the types of loans Everton have used from Rights and Media Funding, short term, relatively expensive secured against future receivables. Clearly participation from MSD on a similar basis would not be desirable or appropriate.

MSD’s funding via debt would be more akin to the form of funding Arsenal and Tottenham secured on their stadium. Obviously the interest environment is different from the time Tottenham secured their lending, and Everton’s risk profile is somewhat different to, however MSD’s future participation should be viewed as a positive indicator of their view on Bell and Downing.  Everton under Moshiri would never have been considered – the quality of management as much as the quality of assets to secure against is a fundamental part of their risk assessment.

Additional Funding over and above, Bell/Downing (equity) and MSD debt is required (as per above) – I am not at liberty to say the source of that funding, but it will be equity. Equity from credible, established investors – it is the only way this deal can work.

There is another important distinction to the Bell/Downing offering, something that distinguishes it from other bids. It’s not only their Evertonian and personal credentials, but it is their association with the city of Liverpool and the North West. There’s a change of Government coming, and regardless of personal political opinion, regional economic regeneration is going to be very important. Local politicians, obviously more closely aligned to a Labour Government, working in conjunction with successful, local committed businessmen see the wider opportunities for development in and around the docks and Northern Liverpool. In the same way Radcliffe sees public funding support for regeneration in an and around Old Trafford and the benefits to the club and local/regional economy, exactly the same is true of Everton, Bramley-Moore and the surrounding area. This is a distinction that cannot and should not be overlooked.

Further scrutiny of the proposed purchase from Moshiri will  be given when more information enters the public domain – scrutiny to a similar level as applied to other would-be purchasers.

What is important though is that Moshiri gives the Bell, Downing and MSD offer an opportunity to present itself fully. That can only be achieved by entering exclusivity.

From that, and with a successful conclusion, a platform can be created. A platform of stability and a base from which to move the club forwards once more, driven initially by the recapitalisation of the business, driven by the opening of the new Everton Stadium but critically under the right ownership and direction. A direction which will take the club currently failing to execute 20 or 30 year old strategies to a club that executes appropriate strategies in the second quarter of the 21st century whilst cementing its relationship and significance of the city of Liverpool and its future economic prosperity.

Reader Comments (44)

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Barry Lightfoot
1 Posted 11/06/2024 at 16:47:04
Seems rather biased…

Why no mention of the other interested parties and what they can bring?

Jay Harris
2 Posted 11/06/2024 at 17:30:59
Well put, Paul, but as Barry said, no mention of other interested parties and the qualities that they may bring to the table.

Everton have suffered by not creating the conditions for people to work effectively … in fact, not even working in tandem.

IMO, it is vitally important that the new owners have a vision and a plan and can bring in the people and resources to make that happen.

I can't imagine whoever buys the club will have a lot of time to spend on managing it.

We have yet to find a captain who can lead the whole club. Denise Barrett-Baxendale certainly wasn't that and we certainly don't need interfering egotistical chairmen.

We need a modern day David Dein who knows the football world and how to make it happen.

We have so often lamented the lack of marketing creativity and emphasis. We need a plan to open up all the commercial opportunities that the new stadium at Bramley-Moore Dock presents.

I see the club has appointed someone to manage sustainability. I mistakenly thought this was to be someone with their pulse on the finances… but no, it is just somebody to keep us green.

So we need someone to manage the finances so we are never again in a position of being hit by Masters and his cronies.

Our scouting system and network needs dramatic improvement. Other top clubs are recruiting some of the best Directors of football going. While I am relatively satisfied with Thelwell, we need to beef up the network and support.

In short, we need to go in search of excellence — something that has been in short supply for so long.

John Keating
3 Posted 11/06/2024 at 18:50:50

Thanks, yet again, for your input.

I believe you have posted that the Manoukian consortium is a non-starter?

Could you possibly give your thoughts on why their proposal would not be acceptable?

Brian Harrison
4 Posted 11/06/2024 at 19:12:20

I certainly agree that Bell and Downing, with the backing of Dell ownership, would be the best outcome, but at this moment we have heard nothing from Moshiri about his intentions.

Bell and Downing have the business acumen needed to steer us from these muddy waters and create some stability, which this club have lacked during Moshiri's tenure. I don't want to be owned by someone who has other football clubs in their portfolio, we need owners who will be committed to Everton 24/7. Surely we have witnessed an owner who thought he could leave the running of the club from afar and that hasn't been very successful.

As you rightly point out, this will not be a quick fix and there will still be many challenges ahead, but I think our supporters are clever enough to know this club will take a while to get back to where we all want them to be.

I think the other big plus is I would imagine, with the business expertise of Bell and Downing and with Dell supplying the finances, they would have no problem passing the Premier League Directors and Owners Test.

David West
5 Posted 11/06/2024 at 19:33:32
Yes, there's no mention of the other bidders, but this looks like a peice on Bell & Downing. It's not biased to take an in-depth look at what was the first party to show their hand.

There's nothing in it against other parties. The Esk can have an opinion on who he thinks is best for the club. Just like every other poster on TW.

Mark Taylor
6 Posted 11/06/2024 at 19:35:20
If we are to believe the poster with alleged inside info on the other thread, parties have a vested interest to complete (pre compliance) by end of this month, so it would be a very short exclusivity period!!

Personally, I struggle to see that happening but the aforementioned poster will likely have a better insight than me.

Bill Hawker
7 Posted 11/06/2024 at 19:35:43

What I wouldn't give to have a stable Everton once again.

The last 3+ years have been a train wreck and good news on the owner/financing front is much needed.

Thank you for the assessment, Paul, and for keeping Evertonians up to date.

Anthony Jones
8 Posted 11/06/2024 at 19:53:44
Sorry to rain on the parade but the horse has already bolted in the Premier League, amongst others.

Just as the UK has fueled a rampant, deregulated and parasitic financial sector since the 1980s, the Premier League is stuffed with rich owners who really are only in it for themselves.

Ultimately, the majority of owners are gambling on continued club asset inflation to make a killing down the line.

It is a Ponzi Scheme. It is not about fans or history or local communities.

Barry Rathbone
9 Posted 11/06/2024 at 20:08:58
However, there is a path back, first of all to respectability, then to competitiveness, then to winning and finally back to being global leaders not also-rans"

Wishful thinking.

The only clubs to have won the Premier League are either loaded, or have been; the exception – Leicester – eventually got swallowed up because they lacked money to rebuild.

We need big money, oil sheikh money, to fulfil the above; fannying around with middle management speak and spreadsheets won't cut it. In fact, the various consortiums mentioned all have a whiff of Kenwright and his "jam tomorrow" era.

But yeah, let's be Brighton.

Mark Murphy
10 Posted 11/06/2024 at 20:10:29
I listen regularly to Talking the Blues.

Andy and George??

Shurley a coinshidence???

Steve Brown
11 Posted 11/06/2024 at 20:18:46
Didn't you say, Paul, that we would not be able to attract potential bidders due to our debt level, and that administration was the likely outcome this summer?
Roy Johnstone
12 Posted 11/06/2024 at 22:12:53
Was hoping for a balanced piece.

Considering the Esk's previous detailed stuff, it concerns me that only one bidder is mentioned in this. The stuff conspiracy theories are made of.

David West
13 Posted 11/06/2024 at 22:25:23
I do belive there is a path back to the top.
Look at villa, relegated not so long ago, now playing CL football !

Things can get better, it's not an easy road, 2016 villa relegated so it's took them 8 years.
We've not been relegated, we have a new stadium coming, we have to be realistic it's not 2- 3 years to right all the wrongs of the past.
New owners can have all the billions you want, you can't spend it all.

New owners need to invest in the management personnel, I've said before spend 10m on a top notch Cheif exec instead of 1 second rate player, pay the wages Dele has been getting to experts at growing income streams and revenue.

Above all as shown at villa, a manager is the key. The right manager at the right time can change everything, Emery has transformed them.
I'm not saying get dyche out, IMO he's the perfect guy for the job at the moment, stabilising the team but need to be ready to get the right manager at the right time for us.

It's still the most important job at any club !

Paul Kossoff
14 Posted 11/06/2024 at 23:24:21
Here is a scenario for you.

"Hi, I hear your business is in trouble, heavily in debt. I can fix that for you. I'll buy your business, I'll sort the debt out and all will be well."

"Oh that's great, how will you do that?"

"Well I'll borrow the money to buy your business, I'll restructure the debt."

"Oh okay, anything else?"

"Well, I'll need to borrow the money to buy your business because I don't have enough to buy it. Oh one other thing, I'm going to use your house as security so, if it all goes belly up, you will lose your house, is that okay? You're an Everton supporter, aren't you, so am I, so don't worry, you can trust me."

Have you heard this one before?

Kieran Kinsella
15 Posted 11/06/2024 at 00:07:00
David West

The other aspect to what you’re rightly pointing out is the unsinkable can sink unexpectedly,

Blackburn “bought the league.” Months later they were in a relegation scrap under Ray Hartford they never bounced back.

Juve twice and Marseille in the 90s had City like domination until scandals undid them. Chelsea nearly went to wall before Bates came along and nearly did the same when Mathew Harding died. In stepped Roman who took them into the stratosphere until the Ukraine war ended all that. Teams like Malaga, Parma, Deportivo La Coruna and Anahi Makhachkala had periods where spending was plentiful, success sustained then boom. Not to mention Glasgow Rangers, the entire Chinese League. Lyon not so long had won the French league 7 years in a row. An owner dies, a scandal unfolds, a war breaks out etc. There are manifold reasons the status quo could unravel.

Hopefully if we have sensible owners who steady the ship off the field as Sean has on the field for a few years then we can be poised to step in as Inter Milan were when Juve, AC, Lazio et al got relegated, fined points deductions etc and suddenly Inter dominated for five years. Or going back further, George Grahams frugally run Arsenal stepped up when the RS and Everton unraveled.

James Flynn
16 Posted 12/06/2024 at 02:10:37
Barry (1) - "Seems rather biased…"

Nothing gets past you, Sherlock, eh.

He was advocating for Moshiri to pick the local guys. Evertonians.

Of course, it was biased.

David (5) - Of course. Saying that, I'm "Team MSP" myself.

Steve (11) - No he didn't. Unless you can point out where he did.

Roy (12) - PQ was clearly advocating for the interested, local Evertonians group. Did you read Lyndon's piece? He covered all the known interested parties.

Eric Myles
17 Posted 12/06/2024 at 02:33:16
Isn't the MSP loan overdue to be paid? It was a condition set by the Premier League that 777 Partners paid off the debt so why wouldn't it be a condition of any other buyer's approval?

We're pretty much reliant on MSP largesse in agreeing to restructure the debt, I'd say, unless they become the preferred purchaser that is.

R&MF I see being in it for the long haul so no problem there… and then there's A-Cap's £200M. Given their potential woes, would it be better for them to convert that to equity and take a minor shareholding in the club and thereby have some enhanced security?

A piece I read in FT says that MSD have not yet agreed to back Bell and Downing, they are waiting and prepared to back the most credible buyer.

I too would like to hear why the only purchaser that doesn't need to borrow money to purchase the club is not a credible buyer?

Kieran Kinsella
18 Posted 12/06/2024 at 02:59:21
I'm wondering if this Textor guy was using us as a power play for his role at Palace? He waxed lyrical about us then said a takeover would happen before he could sell Palace.

Now he's pulled out as Moshiri wouldn't agree terms even while he still owns Palace and couldn't buy us anyway. That said, his track record is barely better than 777 Partners… so fuck him.

Derek Knox
19 Posted 12/06/2024 at 03:39:40
I like the comments in Jay's post @2, the longer it drags on, the more worrying it becomes for Evertonians and the future of our Club.

I think the main worry is can we strengthen, or at least get some sort of clarity about comings and goings in the transfer market while all this is dragging on?

Apart from the few who are out of contract and those who may be considered surplus to future requirements, we basically need to retain as many of our young, and also the experienced players alike, if we are to hopefully improve our league position.

I can't believe that we may get hit again by points deductions, if true, how can that be? Since Dyche has been here, everything has been running better and no rash forays into the market.

Getting back to Jay's point about lack of commercial activity, surely the time is right that this was rectified, especially with the opportunities the new stadium will bring in.

Eric Myles
20 Posted 12/06/2024 at 05:08:15
"An incoming owner is likely to have to offer in excess of £400 million in equity funding"

Surely this £400 million goes to Moshiri to purchase his equity so is not actually "funding" going into the Club?

Or are you suggesting that Moshiri will be nice enough to take nothing for himself on the condition that the purchaser provides the £400 million to keep the Club going?

Jerome Shields
21 Posted 12/06/2024 at 06:25:52
A Chelsea supporter friend said to me, because Moshiri and Associates are a bunch of crooks, they will be looking for a bunch of crooks to sell to, to try to recover the money they put into Everton.

Such is the beneficial structure of Everton ownership, I could not argue with him. Because to deal with the connections possibly involved would be breaking Government sanctions.

777 Partners are in court in numerous countries and parties connected with 777 Partners are fighting fraud charges in a USA Court. I suspect A-Cap is a follow-on replacement.
MSP Sports Capital's reluctance to go forward with their agreement and their extension of payment deadlines could be a sign of trying to use a get-out-of-jail card.

Any legitimate party's involvement could be a sign of giving up the ghost. The multiple parties now involved may suggest that the search is still on.

I think we are a very long way off what the senorio should be, as outlined by the excellent Paul the Esk.

Sam Hoare
22 Posted 12/06/2024 at 07:45:13
Bell and Downing would seem like good custodians for the club and their experience and connection in the the local property world would seem to tie in well.

But I suspect it will come down to resources and ultimately to Moshiri. He has no love for us and I doubt he feels much in the way of responsibility.

I hope he proves me wrong but I suspect that whoever offers him the best exit financially will end up successful and that could well come down to the wallet size of the buyer and might make the Manoukian consortium favourites.

Of course this is how we ended up in bed with 777 Partners but I'm not convinced that Moshiri is someone who learns from his mistakes quickly.

Colin Glassar
23 Posted 12/06/2024 at 08:05:31
I wouldn't trust Moshiri as far as I could throw him.

It's now obvious, to me, that he was simply a frontman for his Uzbek boss. He was also easily manipulated by the now former, greatest Evertonian of all time.

Plus, a man of his age who has a mullet and wears turtle neck pullovers is not a man who inspires confidence in my book.

Steve Brown
24 Posted 12/06/2024 at 08:12:22
James @ 16, erm yes he did.

“He and they’ve got us to this point. A point in which realistically, despite there having been alternatives, the only realistic outcome is insolvency. Whilst I’ve stated previously (and stick by) the belief that the acquisition by 777 Partners was the worst of all outcomes, the second worst, administration is seemingly inescapable.”

And another:

“There is no simple solution here. The scandalous way the club has been run, the choice of preferred purchaser in 777 Partners, and the delay in Moshiri realising 777’s inability to complete (a realisation only dawned upon by endless reports of their financial failings) has put us in this position.

Removing 777 Partners from the equation is only the first necessary step to a solution. More accurately, by their own deeds, 777 have removed themselves despite any further denials that may be offered. Their position is likely to deteriorate further in the coming weeks, again with considerable human cost – take the Bonza employee treatment as clear evidence of such.

Sadly, the idea that Everton can escape all of the above without administration is in my opinion, wishful thinking.“

Paul correct me if I am wrong.

Tony Abrahams
25 Posted 12/06/2024 at 08:24:41
Having brushed through this report then maybe The Esk has shown a bias towards Bell & Downing because there are “no other creditable buyers”?

I don't think I've ever heard anyone throw their name into the hat because it's just mainly been speculation, especially the Palace chairman, who praised Everton but then said our club would have already been sold before he was in a position to do anything.

Let's just hope that Textor was correct because something needs to be done soon and even Moshiri must be aware of this.

Barry Lightfoot
26 Posted 12/06/2024 at 08:56:27
James Flynn,

I was just being careful about wording, there's no need to be an arse about it.

Paul [The Esk]
27 Posted 12/06/2024 at 09:22:12
Morning everyone - just a comment on bias, or perceived bias. The fact is that there is currently no other viable bid on the table to be analysed - I would love there to be so, and if there was I'd give it exactly the same attention as previous would be purchasers.

Regarding Bell, Downing and MSD, it's true I know more than is in the public domain, and more than I can communicate openly. Why is that the case? Not because I have any financial interest, nor because I purport to represent the fan base in any capacity - I solely represent myself and my own beliefs.

I am party to some discussions given my knowledge of the 777 position, other creditors and MSD in particular.

Ultimately all I want is a successful or at least functioning Everton - I also very firmly believe that with two passionate local Evertonians, one well versed in property development that they represent a great opportunity for the club and also the regeneration of the area surrounding Bramley-Moore for the benefit of the club and city

Hope you don't mind me clarifying matters

Paul [The Esk]
28 Posted 12/06/2024 at 09:30:52
Steve (24),

I believe my comments regarding the prospect of administration were entirely correct and if you don't mind me saying so, given with some detailed knowledge of the club's finances.

The fact that we got to the end of the season with 777 Partners somehow still providing financial support, a slightly better than forecast final league position, and the upcoming opening of the transfer window with (and this is critical) the grace and goodwill of MSP extending their facility, stopped us from going into administration.

The MSP point is perhaps the most pertinent – had they chosen to take us into administration when we were technically in default or likely to go into default, then we had no defence. They chose not to, but that decision was never guaranteed nor could ever be relied upon until it actually happened.

All of my comments re administration were made for a considerable period of time prior to MSP's decision to extend their facility.

Paul Hewitt
29 Posted 12/06/2024 at 09:40:50
Would any new owner have to pay MSP back before getting permission to buy the club, like 777 had to?
Dave Cashen
30 Posted 12/06/2024 at 09:42:55

You have been a Godsend to people like me who don't have the inside knowledge. The business acumen, nor the understanding of law.

You clearly love the club and only have the best interest of everyone connected with it at heart.

Your work has been and is, very much appreciated.

Paul [The Esk]
31 Posted 12/06/2024 at 10:05:30
Paul (29) contractually yes - and I think anyone buying the club would have to factor that into the cost of acquisition
Paul [The Esk]
32 Posted 12/06/2024 at 10:06:15
Thank you, Dave (30), much appreciated.
Brian Harrison
33 Posted 12/06/2024 at 10:10:32
There is just 18 days left before the accounts have to be filed, and there are reports in the press that Everton along with other clubs will have to sell players before the 30th June to make sure they comply with P&S rules. There is also an issue from last season which the Premier league said they didnt have time to investigate which involved payments which the club said they were above board. So decisions will have to be made about player sales and its unlikely that new owners would be in place to make those decisions before the June 30th deadline. I don't think the club or the fan base could withstand yet more points deductions so action will need to be made to avoid that and I am not sure who will make those decisions. Thelwell has already said players will be sold, so I guess that will leave us with a weaker squad than last season in what I believe will be a more competitive league than the season just finished.
Peter Mills
34 Posted 12/06/2024 at 10:36:29
Paul, I tend to get lost with the high finance and various permutations and complexities of possible deals.

To me, your post #27 is probably the most understandable thing I have read, so I certainly don’t mind the clarification, I’m very glad of it - thank you.

Brian Wilkinson
35 Posted 12/06/2024 at 10:46:36
Hi Paul,

Thanks for a great summery yet again, I like Brian@33 is wondering how our accounts are for the previous 12 Months and if we will have to sell to stop us breaching again, have you any inside knowledge if we have gone over again.

Also I mentioned if we switched our accounts from June to July, would that be an option, or is there no option to switch so our end-of-year accounts are the end of July?

I'm sure some other clubs have switched in the past, but there might have been a ruling since then where all accounts have to be submitted end of June.

Brian Harrison
36 Posted 12/06/2024 at 13:44:44
Brian @35,

I believe all clubs have to submit their accounts by 30 June, it's part of the Premier League rules, so you can't unilaterally decide to submit your accounts any later.

Niall McIlhone
37 Posted 12/06/2024 at 14:16:11
I echo what Dave Cashen (#30) said, Paul: Moshiri has basically put the lid on any meaningful consultation with the FAB – or, indeed the club's wider fanbase in general – so any informed, pertinent comment on the intricacies of club finances and ownership models is to be welcomed, and it is clear you have put a lot of effort into this, thank you.

I suspect we won't have any utterances from the owner until some sort of sale is "in the bag" which probably won't be until the cones are out for pre-season training at Finch Farm knowing how long it is likely to take for the Premier League to offer approval to our "fit and proper" new owners!!!

Eric Myles
38 Posted 12/06/2024 at 15:15:08
Paul #27 "The fact is that there is currently no other viable bid on the table to be analysed"

I'm sure I'm not the only TWebber that would love to know why the other reported interests are not viable?

Gary Rimmer
39 Posted 12/06/2024 at 16:14:49
Paul #27 - I have read on another thread and in the media that Bell, Downing, MSD proposal is being reported as ‘Toffee Ventures Ltd’ and that a new company has been registered at Companies House. Having looked at it, the company has been registered under SIC classification 85510 ‘Sports & Recreation Education’ which covers ‘Riding School’, which he/and wife now have at Blythe Hall, Lathom. I appreciate that a business type can be changed in due course but is it people jumping to conclusions or is the Everton proposal called ‘Toffee Ventures’?
Kieran Kinsella
40 Posted 12/06/2024 at 16:23:08
Brian Harrison,

The tricky thing about all the proposed fire sales at Everton, Forest, Villa, Leicester etc is the Euros and Copa America. Generally, national team managers don't like their tournaments being interrupted so players can negotiate deals.

Two of our three players who generate any kind of substantial fee are at the Euros. So unfortunately, that means Jarrad is best placed to be sold quick.

Paul [The Esk]
42 Posted 12/06/2024 at 20:14:29
Gary (39)

Toffee Ventures is a complete red (blue) herring to be honest — it has no impact on the deal.

Mike Dolan
43 Posted 13/06/2024 at 04:28:25
Surely by now it just screams: "Our actual owner is not Moshiri but is in fact Usmanov."

Whilst Usmanov is not the flavor of the of the day in the UK, it's interesting to note that entities such as 777 Partners exist almost entirely on the secrecy afforded to the almost pragmatically bandit nature of their investors.

I think Farhad has always been a D-type excuse for an owner. This was always actually stupid because I think Everton was sold by Bill to a Russian money-laundering scam.

Mike Allison
44 Posted 16/06/2024 at 10:58:59
All I want is a plan that improves our situation year on year.

Football-wise, that means three things:

1. Intelligent player trading. It’s going to become harder to ‘do a Brighton’ as there are very few clubs who can afford to buy players for the sums that Cucurella, Sanchez and Caicedo went for, but we have to have a scouting network and DoF who can buy players that both improve the team in the short term and could generate trading profits in the long term.

2. Intelligent use of the free agent market. Player wage demands may be the stumbling block to this, but every year there are a few quality, experienced players who could have a positive impact but we rarely seem to take advantage.

3. Youth Development. The big one. Obviously we have produced some very good players over the years, but I’ve always thought that there is still so much untapped potential on Merseyside. We also seem to fail in that crucial 18-21 age group where players need to go from promising youngsters to first team footballer. There is expertise out there, including at the FA whose programmes have improved hugely in the last decade. We don’t seem to produce even decent squad players. The recent release of Lewis Warrington and McKenzie Hunt are a clear example. A couple of lower league loans and then released for nothing. I can’t judge these individuals as I don’t watch them much, but their careers don’t seem to be managed intelligently enough. Even just giving them some first team exposure occasionally would improve them as players and increase their value for sales, but we don’t seem to do it. I can’t believe that they’re so bad that they would have cost us points by coming on fresh in the second half of games when we were tiring. We could either raise ‘pure profit’ through sales or have a deeper squad of cheaper players who care more about the club if we get this right.

At the moment we seem to be fire-fighting both on and off the pitch, and we’re just about managing, but it’s costing us in terms of building anything for the long term. The new owners need a clear plan, which they can explain openly and honestly, about what small improvements are going to be made year on year.

Whilst it’s not what we dreamed of, it will be enough to engage me (and most Evertonians I suspect) to see that we are at least moving in the right direction. We will just have to accept that the destination is a long way off.

Kevin Molloy
45 Posted 04/07/2024 at 11:18:05
it can definitely affect things, who gets to sit in the hot seat.
I was reading on grand old team, Bill joined the Board at Everton and we were literally top of the league, having just thumped the champions Arsenal three nil. We then went down to villa and promptly got thumped six two. Thirty four wonderful years later, TO THE DAY, Bill passed on with us in a billion pound debt having just received our second points deduction. But then our fortunes took a violent upswing, us winning seven of the next nine. Almost like a curse lifting. And look at us now, about to be bought by people who actually know what they're doing.

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