[Football] The ticking Profit and Sustainability (FFP) timebomb...

[The Mole]

Anyone else bored of people comparing us to Southampton. Today I was at the dentist in leamington spa - he was a Liverpool fan. He asked about my team and when I said Brighton he straight away said this season showed we are going to be like Southampton. Obviously it is tricky to explain while a man is shoving sharp implements around your mouth but he was very happy with the comparison and also very happy that Liverpool has made Alexis a baller. I tried explaining our injuries but he was not having it.

I have never liked the dentist but now I hate them even more.

And you can’t even answer back when he’s putting a drill in your mouth

 

[Acker79]

This seems as appropriate a thread as any to put this in. Michael Spicer found fame as 'the man next door' in some online comedy videos where he would pretend to be the adviser speaking into the ear of politicians giving bad interviews. He has pivoted away from that and now does longer opinion pieces (still with a humorous slant).

 

[Hiheidi]

Wonder what they want to keep quiet

 

[HastingsSeagull]

I believe in U.S. if 6/30 team go over and pay a combined 630M then that is split 24 ways and paid out evenly to the other clubs. Zero to thd F.A.or a nominal amount. Shirley if running a % of revenue model, that would then raise the other 24 team's available money the next year but without being able to commit to long term wages and contracts as the following year anything could happen! (Though we all know it would only increase).

I do however wonder if we'd see more like 15 teams pay over the cap, with us, brentford and non-massive promoted teams getting rich.

Too many issues for it to happen as above but would be funny.

 

[CHAPPERS]

Everton paid £30m in interest to lender with links to tax exile, documents suggest

Exclusive: Charges relate to £225m debt with Rights & Media Funding, with records suggesting a trail leading to Michael Tabor

www.theguardian.com

However, most of that cash outflow has now been excluded from Everton’s most recent profit and loss account after a controversial change in accounting policy by the club that has allowed it to report lower losses – and which may give rise to a further points deduction by the Premier League.

The change in how the club accounts for debt interest comes amid intense scrutiny of its finances by the Premier League. On Monday, Everton was deducted points for the second time in the season for breaches of profitability and sustainability (PSR) rules.

Hard to see how any relegated clubs do not take action at the end of the season innit.

 

[Hiheidi]

So it looks like Chelsea tightly met 22/23 PSR by selling a hotel to themselves for £76m.

 

[Rookie]

So it looks like Chelsea tightly met 22/23 PSR by selling a hotel to themselves for £76m.

Yes, I’m sure the sale of a hotel was all above board and for value …

 

[Hiheidi]

Perfectly above board apparently. Guess Everton, Forest, Newcastle etc. will be looking at saleable non player assets to pass the next wave of FFP.

 

[pigmanovich]

Perfectly above board apparently. Guess Everton, Forest, Newcastle etc. will be looking at saleable non player assets to pass the next wave of FFP.

Ridiculous

 

[CHAPPERS]

Everton call in insolvency advisers amid fresh doubt over 777 takeover

Everton have called in a firm of restructuring and insolvency advisers, the Guardian understands, raising further questions about the proposed takeover by 777 Partners

www.theguardian.com

Everton are calling in a leading firm of restructuring and insolvency advisers, the Guardian understands, raising further questions about the proposed takeover of the Premier League club by 777 Partners.

The move comes as the club are believed to still be waiting for a further £15m of loans that 777 had pledged to provide Everton with during April, according to one 777 source.




Blow to would-be Everton owners 777 Partners as airline enters administration

Read more
The latest loan would have taken the amount the club had borrowed from the American firm to more than £200m during the seven months since it was announced it would acquire Everton.

However, 777 appears to be experiencing further financial difficulties, with its low-cost airline Bonza entering voluntary administration in Australia on Tuesday. Meanwhile, 777 Partners is understood to have parted company with its UK PR advisers after falling behind on paying its fees.

 

[Tom Bombadil]

Everton are a huge f***ing mess

 

[Jim in the West]

The whole 777 thing is seriously bad - it will be a miracle if they are able to complete the purchase of EFC. I thought Everton were desperately trying to find the cash to get to the end of the season without going into Administration, then flog some players quickly. But it looks like they perhaps can’t survive much longer without more cash!! What can they sell!

 

[Crispy Ambulance]

The whole 777 thing is seriously bad - it will be a miracle if they are able to complete the purchase of EFC. I thought Everton were desperately trying to find the cash to get to the end of the season without going into Administration, then flog some players quickly. But it looks like they perhaps can’t survive much longer without more cash!! What can they sell!

Is their new stadium going to be called Bramley-More Docked Points ?

 

[pigmanovich]

The whole 777 thing is seriously bad - it will be a miracle if they are able to complete the purchase of EFC. I thought Everton were desperately trying to find the cash to get to the end of the season without going into Administration, then flog some players quickly. But it looks like they perhaps can’t survive much longer without more cash!! What can they sell!

Fine, we'll take Onana and Branthwaite off their hands if we must.

 

[Justice]

You build a decent business why on earth would you want to get involved in a football club. You could say look at us although it’s very rare any of them make a profit.

 

[Audax]

The whole 777 thing is seriously bad - it will be a miracle if they are able to complete the purchase of EFC. I thought Everton were desperately trying to find the cash to get to the end of the season without going into Administration, then flog some players quickly.

From reading the Guardian article, it sounds like they were doing exactly that ... but the cash was coming in the form of loans from 77 ahead of their purchase, but 777 themselves are stuffed - their Aussie airline has gone bust, they've parted ways with their UK PR agency due to non-payment of fees. Sounds to me like 777 is stuffed, and as a result Everton will also be stuffed.

 

[hans kraay fan club]

The whole 777 thing is seriously bad - it will be a miracle if they are able to complete the purchase of EFC. I thought Everton were desperately trying to find the cash to get to the end of the season without going into Administration, then flog some players quickly. But it looks like they perhaps can’t survive much longer without more cash!! What can they sell!

Surely the existing owners can just set up a new company, called say, 'Everton II' within the Everton Football Club structure, and sell the stadium, training ground or groundsman's hut to that new company for £50m

 

[pigmanovich]

Surely the existing owners can just set up a new company, called say, 'Everton II' within the Everton Football Club structure, and sell the stadium, training ground or groundsman's hut to that new company for £50m

taps badge

 

[timbha]

Surely the existing owners can just set up a new company, called say, 'Everton II' within the Everton Football Club structure, and sell the stadium, training ground or groundsman's hut to that new company for £50m

Perhaps they should get some tips from that B****** Bill Archer

 

[Nobby Cybergoat]

Got to admit, I don't really know if Everton are screwed or not, but it sounds fun to say it, so I think i'm just going to join in.

Everton are properly screwed aren't they! In all sort of deep doo doo. Maybe a league fixture up against Worthing next year