glasshalffull
Well-known member
Reported to have called in insolvency advisers after their potential new owners have hit financial difficulties and look like they might not be able to complete the deal after all.
Everton (again)
- Thread starter glasshalffull
- Start date
straightatthewall
Well-known member
For all the moaning and groaning about City. This is the real point. City are solvent and can afford to spend the obscene amounts they spend. Other clubs are blatantly not.
585 = never give up
Well-known member
At times it's frustrating being a lifelong Seasider, but I can only imagine what it's like being a toffee 
SeasideTizz
Well-known member
Be careful what you wish for.the clubs in safe hands with SS.
basilrobbie3
Well-known member
I don't think City's ability to afford their spending is really the issue SATW. It's more that they are accused of having misrepresented the nature of that spend and of obstructing the enquiry.
Going back to Everton, there have been red flags raised about 777 by umpteen financial experts and journalists, and yet there seems to have been little attempt by the EPL to intervene. This is an organisation that reckons that football is quite capable of regulating itself, of course.
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Halifax71
Well-known member
Their situation is ridiculous. They've secured another payday by retaining their Prem status, but they have done it by paying for a squad they can't afford.
The game needs a big club to fail - only then will proper control be considered.
The analysis below from march clearly steered towards going into admin as soon as relegation avoided.
theesk.org
The game needs a big club to fail - only then will proper control be considered.
The analysis below from march clearly steered towards going into admin as soon as relegation avoided.
The crisis created by Moshiri deepens – is administration an option?
Warren Buffet once said “Time is the friend of the wonderful company, the enemy of the mediocre.” Time is certainly running out for Everton. Hamstrung by the indifference and intransigence …
theesk.org
Matesrates
Well-known member
If Charlie Adam was a toffee, he’d eat himself.At times it's frustrating being a lifelong Seasider, but I can only imagine what it's like being a toffee
St_Ives_Seasider
Well-known member
And yet they’re able to build a new £850 million stadium? Try as I might I’ll never never be able to understand football finances
straightatthewall
Well-known member
If they have misrepresented the nature of the spend its because they've been 'forced' to do so through rules that would block them from progressing as a business (I know...) The obstructing of the enquiry is - sadly - a classic rich mans tactic. Keep pushing till the other can't afford to carry on etc.
My original point is around the fact that there's obviously a big difference between the financial stability and health of City and Everton. One is spending 10 times the amount of the other, but can actually afford to do so...
basilrobbie3
Well-known member
(1) I would agree with you that the rules aren't very good (and I'm being very polite there), but they were agreed by the EPL club owners, so I have little sympathy with any club that breaks them.
(2) I agree with you completely. However it does make the breach even more egregious than it already is. The rules aren't there to punish institutional arrogance, but if they were........
(3) Yes, and these latest proposed spending rules are designed to bake in the huge competitive advantage that the bigger clubs already enjoy. Especially when they simultaneously lobbying for clubs in receipt of parachute payments to get favourable treatment under EFL rules. 'Twas ever thus.
777 have never passed the fit and proper persons test, which is why the takeover hasn't happened. They need to provide more evidence which they clearly haven't been able to do. I'm not supporting the existing regulation of the game but at least it's done this much.
But City, and others that can afford it, spending the huge and obscene amounts on agents fees and players wages means that every club in professional football is effected.
For example Connolly on £7000 a week!
The wages need reigning in at the top so it is easier all the way through the game for clubs to offer realistic, affordable wages which will also help to keep ticket prices down.