shackattack said:kenwright is a total crank and i agree re him bleeding the club dry. he says each year that the club is for sale yet no buyer ever appears. All of the club's assets have either been sold or mortgaged: this includes the stadium, which acts as security for a £30m loan; future season ticket sales for many years into the future, the method by which the loan is repaid; and the club's own ability to generate future commercial income as they have uniquely sold the rights to both their catering (Sodexo) and merchandising operations (Kitbag). This is why the club has very little money and is always skint; the areas in which they could have made some money, they were completely out of their depth, to the point they made losses. Rather than employ specialists in-house to get these areas profitable, they took the easy option of outsourcing, which got the immediate losses off the books (making them look good to the banks), but at the same time sacrificing any potential growth or profitability for many years to come.
With £45m of debt, no tangible assets to speak of and the smallest squad in the Premier League, Everton now have a negative balance sheet with £35m of liabilities – when Kenwright took control there was £20m of assets.
So the sale of Lescott was no doubt driven by the Banks. I stand corrected.
So why all the s*** from Moyes pre and post sale? And the fallout since.
Let's be honest. Without that money Everton football club would have been........