Toffees in the glue

[Airfix]

Bank hindering deals, says Everton chief Bill Kenwright

Everton's transfer plans are being hampered by their inability to borrow from the bank, chairman Bill Kenwright has said.

The Toffees have not signed any players this summer, leading to much frustration amongst their supporters.

"We've come to a stage with our bank where we just can't borrow any more," Kenwright told Sky Sports News.

"The banks are tightening in. We just can't borrow any more money, to protect the football club and the fans."

Kenwright added: "The world is in a recession and I don't know any business that isn't suffering at the moment and I include football in that, other than the financial elite.

"At the AGMs, EGMs, the shareholders' meeting I've said year after year, what we do is we beg and borrow from the bank. That's what we've been doing."

This summer, Everton rejected an offer of £10m from Arsenal for defender Phil Jagielka and this week turned down a £3m-bid from Leicester for striker Jermaine Beckford.

The only transfer activity the cub have undertaken during this transfer window has been to re-sign teenage defender Eric Dier on a season-long loan from Sporting Lisbon.

On Thursday, it was reported that they had made a bid to sign Manchester City defender Nedum Onuoha.

Kenwright, 65, also said the club's inability to sell players has also contributed to the lack of players coming in to the club this summer.

"We knew we were going to get to a point where things were going to get very, very tight. We knew we had to trade," he admitted.

"There has not been a lot of trading in football itself this summer. We've not been able to trade yet and that's the reason that we've not bought in a new player."

Toffees midfielder Mikel Arteta has said he understands fans' concern about the lack of signings and also stressed they must keep their top players.

"We know the situation at the moment: we cannot spend money like other clubs," he said. "That is sensible, even if it is not very popular.

"But at least we have been able to keep our best players. If we cannot sign new players we must keep the ones we have."

Kenwright has often stated his desire to bring new investment into Everton to assist their improvement on the field, stating that he does not possess the personal wealth to do so himself.

In September 2008, he claimed the club needed a billionaire owner if they are to remain competitive in the Premier League.



I suspect we will see more and more of this.

[Blingo]

The real severity of the global recession has yet to rear it's ugly head to any serious extent in the world of football. When it does, I think that more than one club (prem and championship) will go out of business.
The solution is so so simple though. Stop paying the ridiculous wages and transfer fees that players and agents demand and bring the business back into the real world. Until that is done, the world of football will continue to have serious problems. Clubs have to reach agreements in the UK and MOST of the rest of the world to control their finances properly and bring the financial side of the game into line with the Bundesliga. You simply cannot run a business where 70% plus is spent on players salaries, it just does not work.

[AlFayedsChequebook]

The real severity of the global recession has yet to rear it's ugly head to any serious extent in the world of football. When it does, I think that more than one club (prem and championship) will go out of business.
The solution is so so simple though. Stop paying the ridiculous wages and transfer fees that players and agents demand and bring the business back into the real world. Until that is done, the world of football will continue to have serious problems. Clubs have to reach agreements in the UK and MOST of the rest of the world to control their finances properly and bring the financial side of the game into line with the Bundesliga. You simply cannot run a business where 70% plus is spent on players salaries, it just does not work.

I think that if the recession was going to impact football it would of all ready.

I don't think we will be seeing a premier league club go out of business anytime soon (even Pompy are relatively fine now)

[sunburywhite]

Someday the whole thing with unravel with a Tsunami type effect. It may not even start in England but the whole thing will come down like a deck of cards.
A number of clubs will default which means other clubs will default on what they owe other clubs. These clubs will then have their banks withdraw support and the whole thing will implode.
Sky will not have as much money as advertising is down so cant pay out such silly sums to clubs.
Shame really but it will happen.
Governments have had to wake up to it but football clubs think they are immune.

[Blingo]

All it takes is one billionaire to pull out AFC and it goes to pot. You cannot spend a tenner if you only have a fiver now, you could before, but not now.
The recession is far far from over if you look at all of the indicators, so no one can say that it will not affect clubs in the near future. My personal belief is that somewhere along the line the bubble will burst, just as it has with the housing market, and football will have to put it's house in order. They simply can not continue in the way they are going, it is a very precarious road they are walking, in a business sense.

[Lighthouse]

Meanwhile Fulham are being linked to 15 million pound players and Carlton Cole. It is hard to speculate as our club has a millionaire owner and we have no idea what is possible and what isn't. Banks and the financial world collapsed because the inmates thought the good times would never end. The same we know will happen in football. Truth is we will be in financial trouble for generations. Good thing is Fulham will be around for some time and will not be the first to go under. Unless our millionaire tires of his plaything.

[TonyGilroy]

The truth is that Everton are behaving sensibly but it's strange that other clubs find buyers but for some reason not them.

The football bubble is caused by Sky money and I'm not sure that even in the deepest recession that will be lost because the last thing Sky want is for that bubble to burst.

Some clubs will hit trouble as and when their owners fail but that's the administration/points loss/ possible relegation that we've seen constantly.

If MAF went bust tomorrow we'd still survive after administration but probably in a lower league and possibly at a different ground. Brighton like in fact and now they're on the rise.

[AlFayedsChequebook]

All it takes is one billionaire to pull out AFC and it goes to pot. You cannot spend a tenner if you only have a fiver now, you could before, but not now.
The recession is far far from over if you look at all of the indicators, so no one can say that it will not affect clubs in the near future. My personal belief is that somewhere along the line the bubble will burst, just as it has with the housing market, and football will have to put it's house in order. They simply can not continue in the way they are going, it is a very precarious road they are walking, in a business sense.

That is not the recession though, that is the various dodgy owners.

Football clubs rarely go out of business, there will always be a club in one form or another.

[FC Silver Fox]

Further to the Beamer's post above, MAF isn't getting any younger. When he moves on, we will be in a position of financial instability even if a new owner is found. When you look around and see what type of people nowadays have the money to buy a football club, the future doesn't look bright. I would hope that MAF has a provision in his will to avoid, or at least minimize, the financial risk to the club.

[AlFayedsChequebook]

Further to the Beamer's post above, MAF isn't getting any younger. When he moves on, we will be in a position of financial instability even if a new owner is found. When you look around and see what type of people nowadays have the money to buy a football club, the future doesn't look bright. I would hope that MAF has a provision in his will to avoid, or at least minimize, the financial risk to the club.

I am just hoping that Al Fayed will be one of those guys who people continuously ask 'how are they still alive' as he heads towards 100!

[Riversider]

Shouldnt we help our scouse friends out, and kindly offer them £3 million for Louis Saha !!  098.gif

[Blingo]

All it takes is one billionaire to pull out AFC and it goes to pot. You cannot spend a tenner if you only have a fiver now, you could before, but not now.
The recession is far far from over if you look at all of the indicators, so no one can say that it will not affect clubs in the near future. My personal belief is that somewhere along the line the bubble will burst, just as it has with the housing market, and football will have to put it's house in order. They simply can not continue in the way they are going, it is a very precarious road they are walking, in a business sense.

That is not the recession though, that is the various dodgy owners.

Football clubs rarely go out of business, there will always be a club in one form or another.

So the various dodgy owners are immune from the recession???????????

[AlFayedsChequebook]

All it takes is one billionaire to pull out AFC and it goes to pot. You cannot spend a tenner if you only have a fiver now, you could before, but not now.
The recession is far far from over if you look at all of the indicators, so no one can say that it will not affect clubs in the near future. My personal belief is that somewhere along the line the bubble will burst, just as it has with the housing market, and football will have to put it's house in order. They simply can not continue in the way they are going, it is a very precarious road they are walking, in a business sense.

That is not the recession though, that is the various dodgy owners.

Football clubs rarely go out of business, there will always be a club in one form or another.

So the various dodgy owners are immune from the recession???????????

Not at all, but for there to be major problems in football, the financial bubble would have to burst, but with an ever expanding global audience and Sky happy to keep using the premier league as its cash cow, things will not change soon

[Blingo]

And with subscriptions dropping due to unemployment, advertising dropping and things getting tighter economically, you think that Sky will not suffer either? Look at the longer term picture AFC, it is not as bright as you would like it to be.