Well the latest is not as bad as people feared. The word administration has not been discussed by the board, but financially, the club is pretty much going down the *******. But, but, but.... I'm wondering. When Carson Yeung appeared at the club in 2009, there was no debt, finished 9th in the prem, and as a result got itself a nice bit of money as a result. 20 months later.....bang. A massive black hole has appeared, and sucked all the money from the club. In June 2010, the balance sheet showed, that £24 million had to be raised to keep within the banking arrangements. December 2010, another loss of over £5 million. This is even though, the club recieved over £9 million in merit money from the PL.
And it doesn't end there. The £13.9 million from television revenue. £4.8 million from live match screening, and £9.1 from overseas tv rights. And of course, merchandising, gate receipts....and the other usual bits and bobs. Something just does not add up here at all. It just smells very bad, and the fans have a right to know what the **** is going on. It's no good just telling people that they have to make "un-popular decisions arising from pressure from HSBC bank". They just want to know how they allowed the club to collapse so spectacularly, and so dam quickly.
And this fit and proper test, in my opinion, is just an absolute joke. It's so wafer thin, it's beyond a joke. They should take a book out of Bill Kenwrights book. It may sound strange with so many Everton fans calling for him to leave the club for the investment, and I admit I used to be one of them, until I thought about it rationally. The reason we don't have a buyer, is because he has checked every single company that were interested; checked financial backgrounds, checked past history, checked for any debts...and thankfully turned them down. Even though one of them just required a handshake to complete the takeover, the investor scarpered, after BK wanted more information re: the company's financial background. He just doesn't want debt being landed with the club.
If the FA bothered to do something similar, maybe these sort of situations wouldn't happen with alarming frequency. Though Gold and Sullivan shoudn't be totally exempt from blame either. I'm just sick and tired of seeing things like this destroying clubs in countries. And it always seems (most of the time) to be traditional clubs that are suffering. But most importantly, it's the fans of these clubs that suffer the most.