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Elstone's Cross Examination


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#1 Louis

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Posted 04 Dec 2008 - 08:35

I don't know if anyone knew but Elstone was being cross examined yesterday by people opposing the plans.

The following was established:

  • Keith Harris has not been requested by either the club or Bill Kenwright to find a buyer for the club or Kenwright's shares. I don't fully understand this as Kenwright has said Harris was "out there, looking" for him and Harris appeared in the Liverpool Echo saying he hadn't found a buyer etc.
  • No current Everton director (combined wealth in excess of 250m) has invested a single penny into the club aside from purchasing shares but are expecting 52m from the state to help them afford a stadium.
  • Everton are looking to obtain the enabling fund from uplift in land value leased from Knowsley Council
  • Everton are confident they can fill a 50,000 stadium capacity because 90,000 different people have bought at least one ticket in the past three seasons.

There's more but they are the most salient points.
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#2 DangerMouse

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Posted 04 Dec 2008 - 08:43

Im allways one of the first to defend how the club is run as I believe that in todays world you must run a football club as a business and as a consequence of that the fans dont allways like what they hear coming out of the club.....

they just dont make it easy for themselves though do they............ with comments like the one highlighted in your first point.... where could they possibly be going with that one??????????????????????
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#3 Randomness

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Posted 04 Dec 2008 - 12:48

  • No current Everton director (combined wealth in excess of 250m) has invested a single penny into the club aside from purchasing shares but are expecting 52m from the state to help them afford a stadium.



Could you Explain this point further, Because my understanding is, it referring to no personal stadium investment or as is written no investment at all.
Because all those sob stories about BK selling all his stuff to bankroll everton, that would mean that they were lies surely?
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#4 Louis

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Posted 04 Dec 2008 - 22:43

No investment into the club at all.

I think the stories about Kenwright mortgaging his house etc. may be linked with him making the initial purchase of shares?
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#5 Romey 1878

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Posted 04 Dec 2008 - 22:51

So we have a board who have put nothing into the club, a board who still refuse to put money into the club but plunge us further into debt by taking out loan after loan? And this board want to put us into a dead zone in a shitty stadium and then line their pockets by selling the club? Well that sounds rosey for them when they haven't invested at all.
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#6 Everton_Worshiper

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Posted 05 Dec 2008 - 09:13

OK before the usual lynch mob come out, we need to look across the Premier League to see if this is common practice. So do all board members at Wigan plunge their money into Wigan or is it only Dave Whelan?

Louis, how was it established that Keith Harris has not been tasked to find a buyer? Did he say so, or did someone from Everton say there was no instruction?
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#7 Louis

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Posted 05 Dec 2008 - 14:46

Elstone was asked whether any member of the board had ever invested a penny into the club, he said they hadn't.

Elstone denied that Keith Harris, Seymour Pierce or anyone had been instructed by the club or Mr Kenwright to find a buyer.

He was asked by someone representing the combined authorites whether the board had ever considered reducing their ownership to 51% (currently own around 76%) and re-investing the money into stadium redevelopment from the shares into the club (via loan for example), Elstone said they hadn't.
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#8 StevO

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Posted 05 Dec 2008 - 18:54

im starting to think this public inquiry could do a fair bit of damage, it seems the project is already dead, yet the club and the board are going to be asked very difficult questions leaving fans frustrated with them. these questions elstone is answering are questions the club have hidden away from a quite a while, but they have to be answered in this arena. i like elstone, and as the new guy (ish) i see him only as the messenger, he has a hard enough task cleaning up the mess fatty left behind to have more mess to clean up after this.
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#9 Louis

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Posted 05 Dec 2008 - 19:33

The Everton part is all done and dusted now really so you won't get any more juicy bits ;)
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#10 Everton_Worshiper

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Posted 05 Dec 2008 - 19:37

im starting to think this public inquiry could do a fair bit of damage, it seems the project is already dead, yet the club and the board are going to be asked very difficult questions leaving fans frustrated with them. these questions elstone is answering are questions the club have hidden away from a quite a while, but they have to be answered in this arena. i like elstone, and as the new guy (ish) i see him only as the messenger, he has a hard enough task cleaning up the mess fatty left behind to have more mess to clean up after this.


I agree with that, I like Elstone too. Maybe he has different views in general that will come out in time.
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#11 Everton_Worshiper

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Posted 05 Dec 2008 - 19:40

Elstone was asked whether any member of the board had ever invested a penny into the club, he said they hadn't.

Elstone denied that Keith Harris, Seymour Pierce or anyone had been instructed by the club or Mr Kenwright to find a buyer.

He was asked by someone representing the combined authorites whether the board had ever considered reducing their ownership to 51% (currently own around 76%) and re-investing the money into stadium redevelopment from the shares into the club (via loan for example), Elstone said they hadn't.


Not sure what to make of this, is Elstone being truthful or covering the fact that Kenwright has instructed Keith Harris for some strange reason...?
Either way, frustrating you never get a consistent message on selling the club.
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#12 StevO

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Posted 06 Dec 2008 - 14:43

Elstone has to be honest here, im sure he could be in hot water if he lied in a case like this.

i hope he gets the job full time, i'll support him, hes asking for a lot of fans opinions to fill the place, hes getting closer to the corporate fans to fill their seats. but there is a lot of damage to clean up
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#13 Louis

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Posted 09 Jan 2009 - 00:13

It's interesting because in the guardian yesterday it says Keith Harris was looking for a buyer and apparently Harris himself was on talksport saying he was asked by Everton to find a buyer.
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