Louis

I had similar thought to you about two years ago. We could sell players to bring down wage expense, this would have four main effects: Ticket sales will reduce The board will become unpopular because we are letting our better players leave. The manager is more likely to leave The playing quality of the team could mean a relegation fight It's an entertainment business and I don't think many people could care less about financial background of the club as long as there is a strong team playing football. It sounds very similar to what Mike Ashley is now doing at Newcastle, despite putting over £100m into the club he is unpopular and cutting back on wages (selling Jose Enrique and all but axing Joey Barton) is making him more so. I don't think prudence pays in football, because people are paying to be entertained and are attracted to the big names.

Confirmed - http://www.scribd.co...c-Charge-190811 In plain English, we have we've borrowed against the Premier League Basic Award Fund value (valued at £13.8m in 2010/11 for Premier League clubs and £7.6m for clubs relegated from the Premier League in the previous season), year one of a three year television deal) for the season 2012/13 AND Overseas Broadcasting Money, Title Sponsorship Money, Commercial Contract Money and Radio Contract Money of the 2011/12 season, at a cost of £1.3m from a company called Vibrac Corporation based in the British Virgin Islands. This was taken out on the 5th of August. It's not likely to be for new signings, it is for cashflow. Without it, we'd be in serious trouble. I think this is the "document to the bank which says you can’t stop the football club from trading" that Kenwright spoke of. It's also a better price than the previous arrangements although borrowing from a BVI-based company may be an indication to some that Everton couldn't get another one from Barclays, South African bank Investec or another reputable bank, as Kenwright's comments may have you believe. The mysterious company, Vibrac Corporation, registered in Road Town, Tortola seems to be an entity established by http://www.icazalaw.com based on the postal address. It is also the same address as Robert Earl's BCR Sports which owns 8,146 shares in Everton: Vanterpool Plaza, Wickhams Cay 1, Road Town, Tortola, Virgin Islands (British) It is feasible that Robert Earl has enabled Everton to continue trading, albeit at a cost of £1.3m. Similar deals taken out: December 2010 Borrowed against 2010/11 Central Funds*, Overseas Broadcasting Money, Title Sponsorship Money, Commercial Contract Money and Radio Contract Money Cost of arrangement £1.6m Bank: Barclays Interest: 3% + Barclays base rate "Central funds" is UK Broadcasting Money, Overseas Broadcasting Money, Commercial Contract Money, Radio Contract Money or Title Sponsorship Money. August 2010 Borrowed against 2011/12 Basic Award Fund, 2010/11 Overseas Broadcasting Money*, Title Sponsorship Money*, Commercial Contract Money* and Radio Contract Money* Cost of arrangement £1.6m Bank: Investec *Refinanced in December 2010 loan August 2009 Borrowed against 2009/10 Basic Award Fund and FAPL Merit Payments Fund Cost of arrangement: Unknown Bank: Barclays Interest: 3% + Barclays base rate I may have posted this elsewhere but Everton made £49m from Premier League in 2010/11. This figure was £42m the season before. In other words, despite record turnover, we still can't afford to sign new players because existing funds are soaked up by player wages.

Mixed views on the radio after the game.. It's in the Observer: http://www.guardian.co.uk/football/2011/aug/21/said-done-ricardo-teixeira-brazil On Twitter, ThePeoplesGroup insist there was "no tape". From The Independent on Sunday: http://www.independent.co.uk/sport/football/premier-league/rangers-bounce-back-as-everton-suffer-from-lackof-cash-and-ideas-2341327.html

http://www.people.co.uk/sport/2011/08/21/exclusive-moyes-willing-to-sell-stars-to-raise-funds-for-desperate-everton-102039-23359799/

It'll be the ones where Bill doesn't have any trophies!!

Moyes on possibility of a transfer window signing: "No I don't think so"

That's what I thought but I'm sure that Arteta has played behind Rodwell before. I'm not sure if that's because of Rodwell's inexperience and Arteta was required to cover for him. He's gone from being Everton's answer to Steven Gerrard to Everton's acceptable answer to a transfer fund.

From Neville on twitter: http://bit.ly/p9yjQP

They drew 1-1 with Tranmere today.

Barkley - Needs to sort his hair out.

Do you reckon that's down to injury?

His development has stalled, hasn't it? I remember watching a few years ago now in the Victory Shield thinking he would be great. He played defence then. If a player is sold, I wouldn't be surprised if it was Rodwell. He doesn't add much to the team and his reputation is largely because of his goal against Man Utd.

You see, I didn't want to say that but I tend to agree with you, both of you.

http://www.telegraph.co.uk/sport/football/teams/everton/8712257/Everton-manager-David-Moyes-walks-financial-tightrope-between-keeping-stars-and-not-jeopardising-clubs-future.html The best paid-player in Everton's history.. a similar deal was offered to Rooney, let's hope that it doesn't turn out the same way. Equally, can we afford to offer the contract ? It must be pushing £4m a year.

You may want to reconsider the good news on a mortgage being paid off: http://www.toffeetalk.com/index.php/topic/23096-new-mortgage-taken-out-by-efc/ Only 13 of them to go!

Quote from Everton's head of PR:

Warnock previews the game: http://www.independent.co.uk/sport/football/news-and-comment/neil-warnock-rollercoaster-week-but-with-fernandes-on-board-we-can-now-enjoy-the-ride-2340726.html

There was nothing in the interview that we didn't already now about the state of the club's finances. Personally, I don't think anyone came out of the interview with their reputation enhanced. On the one hand, I think that Bill Kenwright should have a better grasp of what is going on. He didn't know what £24m of "other operating costs" were or what the money was spent on. Matt posted that it's not his job to know, but he owns a quarter of the club and should know where a third of the income is going. Equally he should know about the retail partnership with Kitbag. He comes across as more hands-off than I expected. On the other, those who interviewed Bill Kenwright shouldn't be asking silly questions about the Steinbrenners and allegations of pocketing money. It seemed a bit too confrontational at times too. Having said that, I think that it's a good thing that the financial situation is now in the open, I don't think the fans should be kept in the dark about that. We've been treading water for a while now and borrow against tv revenue years in advance. I don't agree with the interview being recorded covertly but I was intrigued reading the interview. Newspapers are today writing about how Moyes is unhappy about the meeting being leaked, but it was yesterday that the same newspapers printed quotes from the meeting which would have been read all over the country. Blue Union have denied they broke a confidential agreement, but haven't refuted the meeting was recorded. There's one line in their rebuttal that reads like a threat. Two days later, the national papers are still talking about it: Brian Viner: There's no ducking the issue: Everton will only fly high if Moyes gets cash to splash - News & Comment, Football - The Independent David Moyes: I decide who comes and goes at Everton – not the bank | Football | The Guardian Everton manager David Moyes walks financial tightrope between keeping stars and not jeopardising club's future - Telegraph Moyes condemns fans' 'betrayal' of Kenwright - Premier League, Football - The Independent Everton FC will not become a selling club insists David Moyes - Everton FC News - Everton FC - Liverpool Daily Post David Moyes doesn’t expect a top 10 hit | The Sun |Sport|Football

I'm half expecting Barkley to start against QPR.

It's a one year contract: http://www.bangkokpost.com/news/sports/251128/big-cola-is-big-partner-of-four-epl-clubs

I should remove Bill's arcade privileges

and here it is: http://peoplesgroup.wordpress.com/2011/08/19/the-blue-union-statement/

I'm disappointed to see him go. Do you remember when we signed him, on the back of an excellent World Cup for Nigeria where he even kept Michael Owen at his peak at bay? Yobo was young, athletic and we even beat Juventus and Arsenal to his signature - he was an exciting signing, Moyes' first, He was the poster boy for Moyes' new young, ambitious and industrious Everton alongside Rooney, Yobo raised Everton's reputation in West Africa considerably.

http://www.evertonfc.com//news/archive/2011/08/19/blue-union-explanation?utm_source=rss_everton&utm_medium=rss_feed&utm_term=Blue+Union+Explanation Apparently there'll be a response to this shortly

Hi Willo!