Everton Finances
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Topic: Everton Finances
Posted By: Roberto Baggio
Subject: Everton Finances
Date Posted: 18 Aug 2011 at 5:31am
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http://news.bbc.co.uk/sport1/hi/football/14570624.stma - http://news.bbc.co.uk/sport1/hi/football/14570624.stm
I've always wondered why teams like Everton are skint. Is it mainly due to wages?
Theyve been in the EPL since it began, so the TV cash is coming in every year, they haven't exactly been big spenders in last 5+ years, the likes of Cahill, Arteta, Jagielka, Baines, Howard, Beckford all came relatively cheaply i think (could be wrong) Fellaini is the only big signing i can think of?? they have had a steady stream of young players they developed themselves breaking through to the first team every year for the past decade
The received over 50m for the sales of Lescott and Rooney
They have a 40,000 seater ground full every other week and havent had to build a new stadium like a lot of teams have
Is the wage bill milking them dry or what?
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Replies:
Posted By: horsebox
Date Posted: 18 Aug 2011 at 5:50am
Living in the shadows of Liverpool's success ------------- It was far across the sea, When the devil got a hold of me, He wouldn't set me free, So he kept me soul for ransom. na na na na na na na na na na na na na na na na na. I'm a sailor man from Glasgow to |
Posted By: Vivakenbarlow
Date Posted: 18 Aug 2011 at 5:52am
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Not every club is bank rolled by oil money! Everton have done fairly well considering they have fook all money moyes really gets the most out of that squad ------------- It took City 44 years to win the league and 10 months to lose it |
Posted By: horsebox
Date Posted: 18 Aug 2011 at 5:54am
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You'd have to question Moye's ambition though.
Moyes former Celtic player bord and bred in Glasgow deserves a shot at a bigger club with ambitions something that Everton clearly dont have. ------------- It was far across the sea, When the devil got a hold of me, He wouldn't set me free, So he kept me soul for ransom. na na na na na na na na na na na na na na na na na. I'm a sailor man from Glasgow to |
Posted By: Vivakenbarlow
Date Posted: 18 Aug 2011 at 5:57am
Not too many big clubs out there lookin for a manager though where exactly would he go? Look at the likes of mclaren and allardyce- they would probably have been better sticking with bolton and boro and trying to build the clubs up I have big respect for moyes think hes a top manager sure he has many years left in management plenty of time to move on to bigger things eventually ------------- It took City 44 years to win the league and 10 months to lose it |
horsebox wrote:Posted By: Roberto Baggio
Date Posted: 18 Aug 2011 at 6:04am
im asking where their money goes?
I know Moyes has done well, im asking why year in year out they have fook all money? .
and i also know that you dont have to be owned by oil rich billionaires to be able to sign players
Maybe an Everton fan will provide a decent answer, im just curious
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Posted By: Bob Hoskins
Date Posted: 18 Aug 2011 at 6:09am
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Gonna be a real slog for Everton this season, will do well to get above 10th
------------- Romario 2016: And the ticket mafia gets caught! Well, four years ago I had already told the government. |
Posted By: horsebox
Date Posted: 18 Aug 2011 at 6:10am
AFAIK there is only 2 in Ireland.
------------- It was far across the sea, When the devil got a hold of me, He wouldn't set me free, So he kept me soul for ransom. na na na na na na na na na na na na na na na na na. I'm a sailor man from Glasgow to |
Posted By: PhilliyK
Date Posted: 18 Aug 2011 at 6:39am
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http://www.ybig.ie/forum/forum_posts.asp?TID=31423&title=mid-table-epl-teams - http://www.ybig.ie/forum/forum_posts.asp?TID=31423&title=mid-table-epl-teams
Half way down Emerald explains why they are in so much crap with the banks ------------- 1312 |
Posted By: Emerald
Date Posted: 18 Aug 2011 at 9:23am
This article (and the SSN interview) is the official confirmation of what we fans have been saying all summer. Unfortunately Chairman Bill has been forced to speak in order to put his own spin on the outcome of a meeting he had last Friday with the 'Everton Union', a delegation comprised of representatives of the various supporters groups who have been pressing for something do be done regarding the current situation the club finds itself in. It confirms what I and others have always suspected: 1) That following last summer's net spend of £0, this summer was going to be even more difficult financially. 2) That we would have to sell to buy to generate any transfer funds at all, even to finance the wages for a loan signing. 3) That even if a top player is sold, a large portion of the transfer fee will be given to the banks to reduce interest payments on the mortgages. This is where I suspect the money from the transfer fees of Pienaar and Vaughan has already gone. To answer your questions directly: We spend 70% of the turnover on the wage bill, last year that was £55m out of £79m. The rest of the income goes on 'other operating costs', of which I would assume a large portion is debt-servicing. Only this morning the chairman has said that ' our income is around £80m but our costs are £85m so you don't need a calculator to work out what the problem is'. The money from the sale of Rooney has long disappeared. It is readily accepted now among supporters that it was basically used to keep the club afloat by paying off the debts at the time. It also suspected by many that despite his pleas to the contrary, Kenwright was actually desperate to sell Rooney at the time for this purpose. The money from the sale of Lescott was spent on Distin, Heitinga, and Bilyaletdinov. Fellaini's transfer fee is being paid in instalments of around £3m per year. Despite the turnout at Goodison, the stadium issue is a major stumbling-block in the whole investment issue. It is not income-generating in the way that other modern PL grounds are. For example there is limited scope for corporate hospitality, with few executive boxes. There are obstructed views all around the stadium. This is why the board have tried to railroad the fans into supporting a move away from GP. The first one in 2002/03 was to be to the Kings Dock in the centre of Liverpool. This was supported by most fans, but in the end the board failed miserably to come up with their part of the finances. (This was due to internal politiking which I won't bore you with here). The second proposed move was to Kirkby in 2008/09, outside the city and to be funded in partnership with Tesco. The fans were split down the middle on this, and in the end it was shelved by a government enquiry, which was concerned about the effects that the move would have on local residents. The cost of re-developing GP is the preferred option for the fans, but the cost would be prohibitive (so we are told). So we are stuck in a financial mess. Nothing will happen until the board sell their shares to a new buyer (if they are in fact for sale). Apparently Kenwright is searching "24/7" for investment/a buyer but so far it has proved fruitless. As far as I and most other fans are concerned he is not trying hard enough, and has proved himself incompetent at running a football club. The fact that the stadium issue has to be sorted out has to be a major factor which is putting potential investors off. The problem is further complicated by the fact that Kenwright's mates who are the other major shareholders in the club, Robert Earl and Sir Philip Green (both Spurs fans would you believe), wish to see a return on their investment before selling up. They had thought that moving stadium was going to make this happen, but that hasn't materialised and they have since tightened the purse strings, leaving bank loans as the only form of further investment. The banks have now decided that they won't lend Kenwright any more money, and that they want some of their money back. It is a sorry tale of financial mis-management as far as I am concerned. You can bet that when the latest exceptional talent (Ross Barkley) breaks into the first team this season, he will be sold off to the highest bidder. Kenwright out. |
Posted By: Emerald
Date Posted: 18 Aug 2011 at 9:32am
Agree with you. Moyesie is happy enough on his £3m per year, having total control of the club, and having the full support of the chairman. He is also well respected by his peers and has built a good reputation for over-achieving. There is no reason to risk all that at this stage. |
Posted By: Emerald
Date Posted: 18 Aug 2011 at 9:35am
Jesus wept. Now I know kopites are as thick as pigsh*t, but that is pathetic even for a redsh*te. There were around 3,000 Everton fans at Dalymount on Monday night, most of them Irish. |
Posted By: Roberto Baggio
Date Posted: 18 Aug 2011 at 9:41am
Good answer
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Posted By: Emerald
Date Posted: 18 Aug 2011 at 9:50am
Desperate situations call for desperate measures.... Manchester City have responded to the loss of the Community Shield by launching a huge transfer raid on North West rivals Everton. Speaking earlier today, Everton manager David Moyes confirmed that his club had received a substantial offer from City but that nothing had been agreed: “I can confirm that Manchester City have bid £30 million for the 6 points that we take off them every season and our Board are considering the offer.” “I don’t like this kind of thing but I have to think about the financial future of the club and this might actually allow me to bring in some new players, the only thing I would say is that if Edin dzeko is worth £27 million then surely a guarenteed 6 points must be worth £50 million plus?” concluded Moyes. City’s move comes on the back of 4 straight defeats to their North West Neighbours and many within Eastlands believe that it is the only way they would ever take anything from this fixture. “If we’d have known that signing Julian Lescott was going to cost us 6 points every season we’d never have bothered.” Said CityChief Exec Garry Cooke, “if it makes things any easier they can have him back plus the £30 million.” “We can’t miss out on the Title for the sake of these points and I just hope we can do a deal before the end of the month.” The FA issued a statement that said as long as both Clubs agreed prior to the end of the transfer deadline there was nothing that could be done to prevent the transfer. |
Posted By: t_rAndy
Date Posted: 18 Aug 2011 at 11:05am
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Yeah seems to be the stadium the main issue. Any buyer that comes in knows they need to basically fund a new stadium from scratch. This is what put people off buying liverpool until Warner came in, but Liverpool have a much more significant income from around the world than what Everton have.
It was good they were able to hold onto all their players in the summer, at least the squad didn't get worse. Maybe if some of these youngsters break into the team and are decent they might have a chance of qualifying for Europe which will bring in extra finance.
Wonder if they had of qualified for the Champions league that time they finished 4th would've it had made a difference to them. With the emergence of Man City and Spurs now the chances of them getting into it without anyone buying the club are slim to nil.
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Posted By: horsebox
Date Posted: 18 Aug 2011 at 11:08am
Jezus Emerald..
 ------------- It was far across the sea, When the devil got a hold of me, He wouldn't set me free, So he kept me soul for ransom. na na na na na na na na na na na na na na na na na. I'm a sailor man from Glasgow to |
Posted By: Carmody 10
Date Posted: 18 Aug 2011 at 11:27am
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Justice does it as a piss take, but you are genuinly bitter Emerald. Quite sad. ------------- Out of order |
Posted By: Emerald
Date Posted: 18 Aug 2011 at 12:10pm
Aha! The old 'get out of jail card.' Your belly is looking quite well there btw HB  . |
Posted By: Emerald
Date Posted: 18 Aug 2011 at 12:14pm
Aw cheer up lid, you clearly haven't experienced a Merseyside derby yet! You've got all the bitterness in the world to look forward to ya spring chicken . I don't normally bother with birthdays but a belated happy 21st to you and I wish you many more derby defeats ahead! Bitter ? You bet. |
Posted By: Emerald
Date Posted: 18 Aug 2011 at 4:19pm
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Summed up well by Mc Nulty in his BBC website blog. Further confirmation of our worst fears. http://www.bbc.co.uk/blogs/philmcnulty/2011/08/bank_squeezes_blue_half_of_mer.html - http://www.bbc.co.uk/blogs/philmcnulty/2011/08/bank_squeezes_blue_half_of_mer.html |
Posted By: Carmody 10
Date Posted: 18 Aug 2011 at 5:47pm
Didnt think winning Merseyside derbies won you trophies ? Then again a small time club like Everton will are happy with their derby win usually once a year at a push. Just like when Liverpool beat Man United really  ------------- Out of order |
Posted By: Emerald
Date Posted: 18 Aug 2011 at 6:05pm
OMG that's genuinely bitter Carmody!  Quite sad really. |
Posted By: Carmody 10
Date Posted: 18 Aug 2011 at 6:20pm
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------------- Out of order |
Posted By: Carmody 10
Date Posted: 20 Aug 2011 at 10:57am
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------------- Out of order |
Posted By: Emerald
Date Posted: 20 Aug 2011 at 1:44pm
Is right lad. Good to see you're getting the hang of this bitterness lark anyway.
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