Always thought they were a well run club but to be in a position of a £80 million turnover and losing £9 million is crazy. We hope to stay in the PL for the sake of money seems they are now hoping to get in the Champions Leauge for the sake of money Why don't we all just cut the wage bills to the overpaid ball kickers and get back to a sense if reality I say make all teams move their financial year to suit the season start and impose a one point fine for every £1 million lost in the previous season
the reason they have such a large debt is because their wage bill is astronomical. everton get a lot of credit for not spending large sums of money on transfers but people forget just how much they spend on wages. THAT is the reason they are able to compete every season despite seemingly spending little money on deals - they can keep their best players happy!
When you're paying upwards of 80% of your revenue on wages then something clearly isn't right with the business model. It makes me laugh when people always go on about Everton as being paupers who operate on a shoe-string budget - Fellaini cost them £15m, Mirallas, Jelavic, Pienaar, Jagielka, Baines and Heitinga were all £5m+, they spent over £10m on that Bilyadinatov bloke who was a flop, and a few years back they spent something like £8m on Andy Johnson so whilst not in the league of Citeh or Chelsea for example they are still way, way bigger spenders than the majority of the Premier League. I'd say year-on-year they are probably something like the sixth biggest spenders on transfers and wages and they usually finish around sixth in the table, which is pretty much par for the course. I rate David Moyes as an excellent manager and a great guy, but I always stop short of calling him the "miracle worker" that many do as apart from one trip to Wembley to lose in the FA Cup final it's not as if he's ever come close to winning a trophy in his time
Can't believe the banks take it if you can't sort your costs out in 24 months and post such crazy losses how on earth does their bank allow them headroom if you were a small business working hard and honest they would soon pull the plug
The fact Arteta although a good player took a pay CUT to move to Arsenal shows they don't mind paying the wages. If rumour is to be believed the reason they struggled to shift Yakubu before he went to Blackburn is because he was on £75k a week
I remember they had a phase in the 90's where they were churning out players from their academy left right and centre some were absolute flops but they sold a lot of players. Bill Kenwright has been trying to sell Everton for years, I really don't understand how they haven't been sold because lets face it they are a massive club, they are based in a decent city and they have a good infrastructure. I know their not happy with Goodison and are looking to build a new ground but it will take a lot of investment for to happen, still astonished they haven't been sold though.
I'm sure I read somewhere Evertons revenues are not that much bigger than ours. I think I worked out when the new deal arrives we will be somewhere near that 80 million mark.
