Oh! No You Won't

[Guest Cisse's mate]

The home Office reported yesterday that a large majority of offenders released early from jail offend again. Well they can add Bill Kenwright and the Everton board of directors to that long list. Bull Craper Billy has made it his lifetime?s ambition to build a stadium. A few years back he begged money off the local taxpayers and fleeced the Government quangos who are funded by the taxpayer in 2001 while mesmerising them into a trance towards an all Blue and shiny chrome and steel stadium on Liverpool?s water front. It was to become the Kings Dock pantomime, apt that this Christmas time Billy has decided to put on a virtual reality show called Kings Dock 2. Bigger and more grandiose than Kings One, it dwarfs it by nearly 100m pounds. The Kings Dock would have cost Everton 30m for their share of what was claimed a 150m project, 300m if you include the rest of the development. The new production will be a staggering 125m. Now all those who own calculators get them out and start with these figures. In the year 2001 Everton where 25m in debt, but could not get a backer to lend them their first instalment of 15m towards the Kings Dock One. Billy could be seen day after day down Threadneadle Street with his begging bowl, all to no avail bless him. What was hard to believe was the Billy Tale that Everton as partners in the development would own 76% of the holding company Houston Securities and SFX the remainder. It sounded like a novel way to print your own cash. The reality was very different.**

 

Today Everton have managed to shift around mountains of debts so well nobody has a clue what they owe, but if you do some simple sums (calculators at the ready) it shows that Everton?s turn around in fortunes amounted to a double flip and a backward pike of approximately 25m Now we know that Rooney donated 20m, a further 2m came from the sale of some land and a windfall from TV/ Prem. money made up the rest.

 

So you could argue that the books balanced at the years end, but the figures show a turnover of 60m against the previous year of 47.7m that amount to a 12.3m increase. Balls Eye Bill in his report would like us all to believe it was down to TV and a 4th placed finish, in his report he more or less states that case. He claims the increase in revenue ?is largely due to these two factors? (page07) As is Bills way of doing things he has to change course on the next page, for he has never learnt that a fib can only be kept going if it is always believed and this one was so outrageous even the gullible shareholders of EFC where squirming in their seats as soon as they read his report. He went on ?Predictably the most significant increase from the prior year was in player trading. Where we recorded a profit of 23.4m?? (2004 = 1.6m), so what is it Bill the sale of Rooney and Gravesen which brought in the lions share of the 23.4m, or the success on the field? Which ever, the profit and loss don?t dovetail as cleanly as the Liverpool Echo and Bills good self would have us believe. Looks like he has started the double speak early on this project.

 

But that?s ok we can see through that clearly, what is blinding us is the staggering claim that the debts or as Billy calls them The Borrowings where reduced by 40% now a company like Chelsea Village would be over the moon if they had that kind of a swipe at their debts and they are a far big earner with plenty of liquid cash behind them. How is it then that Everton have slashed the debts as well as giving the manager the profits they say they amassed last year. Aprox. 20m was spent on players after the books where closed. Not taking into account the new players wages either. Or the Beattie purchase. Like his position of the field nobody knows where to put him.

Why would the board have the accounts juggled around in this way, it is not illegal, it is a way of dealing with debts, paying off tomorrows debts in 5years at a higher premium to the lender, risky but it is a part of the futures market. If you get away with it and a gullible client who is lazy or greedy and believes all the hype, you are on easy street. It might be the reason why the well respected Trevor Birch who preceded Wyness as C.E.O. left the company after only 6 weeks. Is it possible he didn?t like the way the books where to be garnished ??. if not cooked.

 

 

Yesterday we got some of the answers we all thought would be hidden deep within Billy Liars Lair (along with the mysterious 10m from 2004?s accounts)

 

There is to be some serious long term borrowing down at Goodison Road in the near future, if we believe Billy Liar and Fat Keith?s latest grandiose plan.. Who would lend a company that shows a loss year in year out the lions share of 125m? This is a desperate act of a company who see themselves being left behind in the slip stream of their neighbours and rivals, Liverpool Football Club. It is either a plea like a child to be recognised as equal to its sibling, and maybe the first shout for another bite at the public cash apple. It could of course be a genuine and sincere though reckless act to bankrupt Everton Football Club. To go down all guns blazing like a latter day Custer at The Big Horn. They know they are at the back end of Liverpool?s slip stream and in danger of floundering and finally sinking to the bottom without a trace. Gregg reported last year that ??when Liverpool build their new stadium within 6 months we will be the poor relations in the city,?? Gregg should have been told that has been the state of play since the late 60s but we know what he meant.

A new ground with added capacity playing in Europe, with an exciting team, lead by a young ambitious and successful manager. A world wide name that captured the hearts and imagination of the world last May. The floating voters of Liverpool would surely vote with their feet and become Reds in the New Anfield. As well as buying match tickets they would be spending more money in the shops and bars owned by the club. The more LFC get the less EFC get, simple economics. The city corporate clients would want to wine and dine their customers in the best and swishiest restaurants and bars while surrounded by 5 European Cups and all the other shining trophies and signs of success. Is it this luxury they would clamour for or the Blue alternative, to shiver like pigs waiting for slaughter in an old tent at the back of the Park Stand? Desperate to get as near as possible to the tea earn for some warmth while Billy and Wally tell jokes about North Wales and a shaky faded video is shown of the 1985 E.C.W.C. Final.

 

Wyness is trying hard to talk up the Everton knocking shop, but once the curtains are drawn back what is revealed is an old, haggard, poorly dressed and badly painted lady of ill repute, who needs to practice her business with the lights down so as not to show the wrinkles and worry lines to her clients.

Even her oldest and loyalist clients know too well she will never be replaced by a younger fitter more vibrant model, she will just fade away and die.

 

*** Toffeeweb have a very comprehensive Kings Dock site within their fansite.