Topic: Everton - The 777 Unflushables

[rob1966]

Thing is, the accounts were submitted by legitimate independent auditors, so the PL would have needed to challenge their accounts in detail, which given the unprecedented times they didn’t really want to. The fact that the auditors then did a bunk for reasons known only to them, but which indicate they didn’t want to be involved with stuff they had uncovered, has seemingly led to the FA looking more closely at the accounts with the excuse that the auditors have basically raised a red flag. This will give the PL their “out”, saying the situation changed dramatically when the auditors pulled out.

BDO are my main employers auditors and I have to deal with them from an IT perspective every year - I hate it as they are so thorough, they don't let a thing go, they usually tie me up for at least 6 weeks. For them to refuse to sign the accounts off and walk away is very damning

[PeterTheRed ...]

I did think you were being serious. I was just putting my own piss-taking to one side in my reply. It's a good idea. Good for us and good for the local community.

How it would stack up financially I just don't know, but as an idea it seems like a good one to consider.

It doesn't need to be a massive investment. A 10,000 seater, with enough space for the local businesses to operate, with a big parking lot next to it ...

[Son of Spion]

^
That would look pretty good. Sympathetic landscaping could really lift the area too.

[rossipersempre]

So that's two World Wars, the war in Ukraine and Heysel that's stopped them from having 35 league titles and 20 European Cups ...Bummer

Don't forget Pierluigi Collina.

[Slippers]

Have you seen the mural on the side of the Hot Wok restaurant by the ground? Embarrassing.

'Jow Forbet Abost We Rest'.

I don't disagree.

[Fromola]

I was actually being serious. I agree that the ladies' game will only grow in popularity, and it would also be nice for the U-21's to play their games in a bigger stadium, with cheap tickets for the adults, and free tickets distributed through the schools ...

I do think we could do with another stadium in the city for the women's team and the reserve teams etc. Everton have built a mini stadium on Walton Hall Park for their women's team.

Goodison would fit the bill, hypothetically speaking. The revenue streams for the crowds the women's team would generate and reserves to a lesser extent (in a proper stadium in the city) would see it pay for itself.

Alternatively we could expand the site on Lower Breck or potentially Melwood itself.

[rossipersempre]

To be honest, we can build a nice stadium for our Ladies team and for the U-21's team at the site of Goodison. Something like this would be fine:

The obvious convenience of it aside, I wouldn't want anything to do with that site.

It's cursed land I tells ye, that not even Grobbelaar urine could exorcise.

[Son of Spion]

The obvious convenience of it aside, I wouldn't want anything to do with that site.

It's cursed land I tells ye, that not even Grobbelaar urine could exorcise.

Stone Tape Theory believers will agree with you completely.

[rob1966]

Stone Tape Theory believers will agree with you completely.

No idea what that is, but that site is haunted, all you hear is boo.

[Son of Spion]

No idea what that is, but that site is haunted, all you hear is boo.

https://en.m.wikipedia.org/wiki/Stone_Tape_Theory

Basically, their despair and trauma is absorbed into the environment and possibly replayed like a tape recording. In the environment, you may feel the sense of despair and depression yourself.

[12C]

BDO are my main employers auditors and I have to deal with them from an IT perspective every year - I hate it as they are so thorough, they don't let a thing go, they usually tie me up for at least 6 weeks. For them to refuse to sign the accounts off and walk away is very damning

I know we think the PL were in cahoots signing off the covid losses, but I think they realised that it was, no matter how we joke, unprecedented times. They were trying to keep an industry afloat and ultimately keep people in work.  I presume  BDO outdone have toothcombed the accounts previously, but ultimately would have only been able to work with figures  provided by the club. Moshiri was a mobsters book keeper so would know how to hide stuff from view.
As you say BDO walking away indicates they’ve uncovered something which presumably affects their previous audits that puts their reputation at risk and have distanced themselves

[rob1966]

https://en.m.wikipedia.org/wiki/Stone_Tape_Theory

Cheers mate. I've read about that kind of stuff before, didn't realise it was called that

[Son of Spion]

Cheers mate. I've read about that kind of stuff before, didn't realise it was called that

👻👍

[Red Beret]

Thing is, the accounts were submitted by legitimate independent auditors, so the PL would have needed to challenge their accounts in detail, which given the unprecedented times they didn’t really want to. The fact that the auditors then did a bunk for reasons known only to them, but which indicate they didn’t want to be involved with stuff they had uncovered,  has seemingly led to the FA looking more closely at the accounts with the excuse that the auditors have basically raised a red flag. This will give the PL their “out”, saying the situation changed dramatically when the auditors pulled out.

Well the PL were supposed to be working with Everton from around November 2021 on that years' accounts, but it hasn't stopped them announcing this investigation into accounts they supposedly signed off on.

My personal believe is that the PL signed off on the accounts on the understanding that Moshiri/Everton would take certain steps and undertakings to steady the financial ship; I think Moshiri either reneged on that agreement when he had to pay off Lampard, or the damage just proved too bad to fix, which is why the PL launched their investigation.

They've had a lot of preferential treatment have Everton, yet you would think the entire footballing establishment were out to get them, to hear them talk.

[Red Beret]

I know we think the PL were in cahoots signing off the covid losses, but I think they realised that it was, no matter how we joke, unprecedented times. They were trying to keep an industry afloat and ultimately keep people in work.  I presume  BDO outdone have toothcombed the accounts previously, but ultimately would have only been able to work with figures  provided by the club. Moshiri was a mobsters book keeper so would know how to hide stuff from view.

As you say BDO walking away indicates they’ve uncovered something which presumably affects their previous audits that puts their reputation at risk and have distanced themselves

Yeah, we have to remember about this stuff, especially when people express scepticism that Everton could cease to exist. Auditors don't just walk away. Whatever's going on over there, it has to be pretty bad.

When you look at Rangers, they got done over unpaid tax and NI. They had been in financial difficulty before being sold to Craig Whyte, but the guy was in charge for less than a year before the club went into administration. Moshiri's been doing the damage to Everton for a lot longer than that.

I'm vaguely reminded of when Gillett put up his 50% stake in LFC as collateral for a £75m loan from Mill Financial. They essentially took ownership of his stake and tried to buy the club outright, but were refused permission by the PL to take the fit and proper person's test, because they had to be referred by the board, which was being run by Broughton.

[PeterTheRed ...]

The obvious convenience of it aside, I wouldn't want anything to do with that site.

It's cursed land I tells ye, that not even Grobbelaar urine could exorcise.

We'll exorcise the place in no time. That site is thirsty for cheer and joy ...

[J-Mc-]

https://news.sky.com/story/amp/english-football-clubs-will-not-face-sporting-sanctions-from-independent-regulator-government-says-12956743

Does this mean they’re safe from a potential points deduction?

[disgraced cake]

Could you imagine the fume if we built a mini stadium over the ruins of Goodison Park 

I remember Barca used to have a mini stadium which looked quite cool for the youth team/B side to play in and they replaced it with something shit.

I do think a smaller stadium would be really useful though, could do quite a bit with it. Always thought they could try it when the first team left Melwood but can't do it their now with the women moving in. Who knows, maybe we just take BMD off their hands soon 

[MrGrumpy]

I know we think the PL were in cahoots signing off the covid losses, but I think they realised that it was, no matter how we joke, unprecedented times. They were trying to keep an industry afloat and ultimately keep people in work.  I presume  BDO outdone have toothcombed the accounts previously, but ultimately would have only been able to work with figures  provided by the club. Moshiri was a mobsters book keeper so would know how to hide stuff from view.
As you say BDO walking away indicates they’ve uncovered something which presumably affects their previous audits that puts their reputation at risk and have distanced themselves

A relative of mine is a retired chartered accountant. When I asked him by BDO or any auditor might quit mid cycle, he informed me that such an action is normally (but not always!) because there are severe financial problems with the company and the company’s directors can not provide acceptable answers to the auditor. Quitting mid audit is very rare.

Would the charges Everton would face if they abandon the Bitter Bowl outweigh the cost of completing it? If the company is in as much financial **** as we think it as and BDO might think it is, they ought to be doing more than culling squad players.

[lobsterboy]

Could you imagine the fume if we built a mini stadium over the ruins of Goodison Park 

I remember Barca used to have a mini stadium which looked quite cool for the youth team/B side to play in and they replaced it with something shit.

I do think a smaller stadium would be really useful though, could do quite a bit with it. Always thought they could try it when the first team left Melwood but can't do it their now with the women moving in. Who knows, maybe we just take BMD off their hands soon 

we could call it the Boocamp as a tribute to them.

[rossipersempre]

we could call it the Boocamp as a tribute to them.

Camp Boo if we're being accurate

[4pool]

https://news.sky.com/story/amp/english-football-clubs-will-not-face-sporting-sanctions-from-independent-regulator-government-says-12956743

Does this mean they’re safe from a potential points deduction?

Not to me.

This is about the Government appointing a Football Regulator and what the regulator would or would not do.

Imho, has nothing to do with the Independent Commission looking into Evertons situation.

[JRed]

I had a listen on Twitter/X to one of those Everton group discussion things last night and I laughed almost instantaneously, but then it dawned on me how bad it must be for them. Merely a few seconds in, a fella who is always on there (who I know to say hello to as it happens) said things to the tune of 'I fucking hate Everton, I do, I hate what they do to me and how they make us feel' and I just burst out laughing. You could just hear the anger, the frustration in his voice, the sullen cry for something to change but it was so obvious to anybody listening that the club is so far down the rabbit hole now that you can't just go back to what it was even a few years ago.

Getting into bed with 777 shows that they are so fucking desperate, but it also shows that no other investment arm or firm would touch them with a barge pole. They're in so much trouble on and off the field and it really is hard to see a positive outcome.

Yeah it’s a shame they went so bitter and celebrated their players injuring ours, I might give a fuck about them then.

[TepidT2O]

So this £20m loan from 777.  That’s clearly to stop them going into receivership.  They are in every sort of trouble there is.  I read somewhere that they’re currently paying £34m a year in interest.  On their turnover that’s unsustainable

[Romford_Red]

we could call it the Boocamp as a tribute to them.

Maybe An(other)field?

[Fromola]

What's really fucking them now is the vanity project next to the sewage plant.

If it was just a case of overspending on players they could have stemmed the losses by selling players and they perhaps get relegated and rebuild in The Championship (i.e. Southampton or Leicester). Instead they've got this white elephant to pay for, that they've massively overstretched themselves for and after they broke ground they lost Uzi's roubles. It's too late to go back on it so they have to take out payday loans to complete the thing and if they're not careful will end up paying rent on the new ground to one of their lenders.

[emitime]

It doesn't need to be a massive investment. A 10,000 seater, with enough space for the local businesses to operate, with a big parking lot next to it ...

That's off by a year.

[TepidT2O]

Still, could be worse. They could have a profit and sustainability case to answer for….


Oh dear…

[Ghost Town]

I reckon they had no real understanding of the Everton mentality.
They thought it would all be logical and reasoned like their investment in Arsenal. They saw their investment in Arsenal rocket due to a new stadium on a financial bedrock of support with Arsene providing stability, boost the brand and sell.
They landed up on the Liverpool Shore. Joe the Blow sells them a pup, based on his tales of a fanatical support, with a footballing history, in a city with a storied history of football glory and a free stadium on a WHS location.
They look across the park and see what could have been if not for the rent arrears. They decide that a decent wedge will have them challenging for the limelight in the city and taking the reflected glory.
Then reality bites. The insanity of the fans expectation, and the need to keep the Bullens Wall onside means they burn through world class managers, and spend a fortune trying to build Rome on the Mersey, in the space of a couple of years. And when it all goes wrong they start chasing their losses, and the fans start chasing their cars, and the main source of liquidity gets sanctioned. They are reduced to payday loans and mortgaging terraced houses in Goodison Road.

Yeah that's about the size of it. Must have been a huge culture shock after the relatively sedate experience at Arsenal.

We keep saying, don't we, that other people just don't realise how fucked up and toxic Everton and its fans are. Only when you spend time with them do you realise it. I've had fans of other clubs think I was making things up when I tried to explain what the Ev fans are like; they just don't believe it can be true, and showing them a few examples just leaves them thinking they're a few extreme examples and not representative.

Only a sustained exposure to that thing we call Everton can really clue you in to what they are really like. That's what Moshi and Uzzy and every manager they have ever appointed, and most players as well, learned too late.

[Ghost Town]

“Look on my works and despair…” should be their motto.

With apologies to Shelley
Moshimandias

I met a traveller from an antique land
Who said: "Two vast and crumbling football grounds
Stand in the North End. Near them on the BMD sand,

Half sunk, a shattered visage lies, whose frown

And wrinkled lip and sneer of cold command

Tell that its sculptor well those passions read

Which yet survive, stamped on these lifeless things,

The hand that mocked them and the heart that fed.

And on the Bullens wall these words appear:

`My name is Moshimadias, King of The Blues:

Look on my works, ye mighty reds, and despair!'

Nothing beside remains. Round the decay

Of that colossal wreck, boundless and bare,

The lone and level sands stretch far away".

Bysshe bash bosh. Nice one.

Though I'd have maybe gone for (Uncle) Uzzymandias

[Ghost Town]

https://news.sky.com/story/amp/english-football-clubs-will-not-face-sporting-sanctions-from-independent-regulator-government-says-12956743

Does this mean they’re safe from a potential points deduction?

That's pretty pathetic if it's true. It's the government backing away from installing a regulator with actual teeth. What exactly would such a regulator do, then, if it won't apply sporting sanctions and, as per that article, won't apply financial sanctions in most cases either? Give them a stern telling off? Send them into the corner to think about what they have done?

This sounds like the gov getting cold feet and no longer wanting to get involved in regulating the game. The PL will be delighted. With the threat of government regulation removed they can go back to doing the square root of fuck all, so as not to hurt their 'brand', which is clearly their preference.

So in that regard it may well have an impact on the Everton and Man City cases. The PL have been trying to show how tough they are in order avoid losing regulatory control to an independent government-backed regulatory body. If the gov are now backing away from robust regulation and meaningful, consequential sanctions, the PL will no longer need to be seen to be tough on rule-breakers.

The chances of the Ev and Man City getting a meaningful punishment have probably gone down significantly if the above is true.

[moondog]

It really would be salt in the wound If they do end up at BMD as tenants rather than owners,  then all of this bluster about the best stadium in the city (as if) will have been for nothing.

[End Product]

That's off by a year.

 

[Black Bull Nova]

Well the PL were supposed to be working with Everton from around November 2021 on that years' accounts, but it hasn't stopped them announcing this investigation into accounts they supposedly signed off on.

My personal believe is that the PL signed off on the accounts on the understanding that Moshiri/Everton would take certain steps and undertakings to steady the financial ship; I think Moshiri either reneged on that agreement when he had to pay off Lampard, or the damage just proved too bad to fix, which is why the PL launched their investigation.

They've had a lot of preferential treatment have Everton, yet you would think the entire footballing establishment were out to get them, to hear them talk.

Don't forget there are/have been a number of unhappy clubs who have lost £ms because of their relegation which may not happened but for their book cooking

[PeterTheRed ...]

It really would be salt in the wound If they do end up at BMD as tenants rather than owners,  then all of this bluster about the best stadium in the city (as if) will have been for nothing.

Being tenants at BMD is the least of their problems at the moment. Moshiri would gladly sell BMD as it is, if he could get the money he has invested in it back ...

[Skeeve]

It doesn't need to be a massive investment. A 10,000 seater, with enough space for the local businesses to operate, with a big parking lot next to it ...

If we were going to do something like that, taking a longer term view and expecting demand/interest to continue to grow, you'd hope that they went for a design that could be expanded further than that.

[Bobinhood]

I'm happy to see them relegated but I don't gleefully anticipate their destruction.  Knowing we helped save them would rankle them even more, which is something I can get on board with.

Exactly. Would be more than happy to see the end of the twice annual useless blood baths 3 points and 3 injuries, and the back of the worst of the fan base for a while, but they are a founding member of the Football League and the dirty money and fools are going to kill them. Its not right.

Kinda liked the idea of buying the stadium and charging them rent a lot    not likely practical but man that would be fun.

doesn't look very good for them atm.

[4pool]

Why would LFC buy BMD and charge Everton rent? We know their history. They're skint now.

We'd end up with their Blue Elephant.

No ta..

[Schmidt]

Why would LFC buy BMD and charge Everton rent? We know their history. They're skint now.

We'd end up with their Blue Elephant.

No ta..

Think of all the Tay Tay concerts we could host though.

[Bobinhood]

Why would LFC buy BMD and charge Everton rent? We know their history. They're skint now.

We'd end up with their Blue Elephant.

No ta..

Yeah, im not serious financially. Plus its next to a sewage plant. 

But the bantz! we could print shite on the tickets "100% of your donation goes to helping Liverpool secure better players. Remember, if it weren't for us, you'd be dead. thanks for your support, and enjoy the game."