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Romey 1878

Record Losses

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Its probably him why our board seem so fucked up lately, whats wrong with going on the website and giving us some real information instead of all this " Deal close " etc for players, id like them to come out and say how much they really do have, its not gunna happen but it would be intresting...

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Accounts to show losses :

Sources have informed NSNO that at the AGM, due in late November or early December, Everton will reveal that the club made "record losses" in the last financial year.

If true, then this will be the second year in three that Keith Wyness has overseen a running loss at Everton, a clear sign that he is not the man to take this club forward.

.....

 

Bloody hell, :o its like Alice in Wonderland and Fawlty Towers rolled into one, Its just getting worse and worse, this adds even more ammunition to my "Heads must roll" thread. How much lower are we going to sink.

 

When you add up how much money has come into this Club in the last three years this is as Rafa would Say, unbelievable, its unbelievable, how can this be, its Unbelievable. ...... *shakes head and bursts into tears*.

 

But this is seriously not Funny.

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Lets try & remember the reason we haven't made loss's in the other years has been because we usually sold our better players. the books can be easly balanced by selling cahill or yobo if that would keep everyone happy.

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There's a story I heard once about a former baseball team owner in this country who was lamenting one day about his team losing $2 million the previous season. One of the people hearing these complaints was surprised, because he was sure the team wasn't anywhere near that badly off, so he asked another team executive if it was true, that they'd really lost so much, and the other fellow sort of smiled and said, "He means that we only made a $2 million profit instead of $4 million."

 

Amusement aside, there is a point to that story, which is that accounting figures are never absolute, and "profit" and "loss" are often in the eyes of the beholder and the creative tax preparer. In fact, I don't know how British tax laws work, but in the US it's often to a team's advantage to report a net loss, because then they can use their "losses" as a tax writeoff. If there's one thing I've learned watching sports over the years, it's to never trust a team who's crying poverty.

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The same principle applies in the country re taxes JD :)

 

There was some talk about Bob Kraft being interested in taking over EFC a while back. I think it was the usual rumours though.

 

This is a response on the toffeeweb message board:

I believe that Everton spent somewhere near 10 million more than they earned in the last year.

 

This is part of the reason why the club are so keen to move to Kirkby.

 

Basically, Goodison Park cannot give them the financial clout that they need to pay wages to the players and compete.

 

I think there's an article on ToffeeWeb, that compared Liverpool's executive facilities with some top chef who caters for 3,000 - 4,000 people a week, while Everton have a tent. (With meals bought in from that top executive dining solutions company - Sodhexo)

 

Other clubs, for example, Newcastle and Aston Villa, took out long term loans (like our Bear Sterns loan) and used the monies to rebuild parts of the ground. We didn't. Why? I don't know.

 

Basically, its the 'prune effect' that Alan Sugar described 8 or 9 years ago. Money comes in, then goes straight through the club, into the pockets of the players.

 

If you go back to the season when we were heralded as one of the "richest" clubs in the world, that was based on turnover, not absolute profit. That year, I think we made a profit of about 100,000 pounds.

 

Basically, we need a Jeffers or a Ball, or a Rooney to come through the academy system every few years, in order to tide us over. Without the monies raised from our academy players, we'd have long sunk without a trace.

 

The fact that Everton made losses isn't anything new, nor is it down to Keith Wyness exclusively. The whole board is culpable for the overall lack of investment, the overall lack of long-term planning, and the mend and make do philosophy that has been prevalent at this club since the early 90's.

 

Moving to Kirkby won't resolve a single one of those issues. But the pictures did look nice.

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And they really think building a stadium in Kirkby would improve debts??? If anything a stadium within the city would produce so much more revenue even if it did cost more initially. It obviously does take a scientist to work that one out if BK and KW couldnt see what was in store for them in the future.

 

Investment has got to come from somewhere but with these 2 on board its never gonna happen.

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