Finances explained

It is a good article, not the usual TW style. A few assumptions, but he highlights them as such.

Nice work

Regarding the Other Operating Costs - some people like to suggest that Board members are on the take or something . . .

It's a load of rubbish!!

Everton's accounts are audited by one of the big 4 and such a material amount could never ever get past them !!! It's like saying David Cameron has nicked £100m from the government purse.

Large companies operate under tough financial controls.

The only way a Direct can legally draw money out of a comp[any is by way of a dividend, salary or pension contribution.

Items passing through the Profit & Loss account are purely business items relating to the costs of running the business.

I don't know what is in other operating costs though - no idea - it could relate to one off costs such as legal fees/failed projects etc but it certainly isn't anything dodgy.

It has increased substantially over the years - that's why I'm thinking it is costs relating to projects so I do understand people asking for transparacy on the matter.

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I plan on going the fans group meeting on Saturday in Liverpool.

I just want to observe.

See what is being said and what type of people are involved.

It will be interesting either way.

dixie might see you there planning to go myself see what is being said. Judging by Twitter could be a bigger turn out than they thought

One concern with all this is how sustainable is this approach long term. Future does look bleak so does kind of support the push to find new owners. Maybe short term hit of an interim board may be solution.

I'm not saying that I'm not upset that arteta has gone as he was my favourite player but I really do think that in the long run this summer may have been a blessing. If it means we just have the long term loan and get rid of overdrafts etc and have reduced our wage bill by 7 million or so we could be in a position where we can spend 8 million a year net on new players. If the two new loans turn out to be good than this could be the start of good times.
The only worry is that our players may get demoralised reading the news and answering all the pessimistic tweets, some more may leave in Jan and we get relegated.

Toblerone made a very good guess at why we were probably reducing debt in an earlier article. By the looks of this very astute explanation of Evertons probable finances, Toblerone could inadvertently hit the nail on the head. It doesn't help much I know but this financial explanation shows that Bill Kenwright is perhaps going the right way to keeping us as a viable business.

The meeting should be very interesting,see you there.

Hopefully more will be revealed, i think the numbers are definitely growing.
Enough is enough.

Why dont we organize a chara from Yorkshire

Interim board, who and why would they agree to pay these people to get no buyers?

The chara is cancelled.
Thier bottles went when a whip around for the driver was mentioned

Can you hold off the bailiffs until October? Would be sweet if it was exactly a year after Tobes, Socks and LETTUCE were dancing on our supposed grave...