by Clyde1998 »
03 May 2024 20:06
From Despair To Where? Keep hearing a lot of Everton fans saying "Just sell x, y and z and we'll save £30m in wages".
Err, no one's going to pay Neil Maupay anywhere near the £70,000 a week you're paying him so he's got zero incentive to go anywhere til his contract runs out next summer.
They signed Deli Ali and Ashley Young on a combined £185k a week.
Well done, shave £30m off the wage bill and you'll still be losing £50m a year. When clubs give out shit contracts like that,it's rarely just player wages they're pissing money up a wall on.
It's exactly the same sort of shit you saw on here for 7 years. "We'll be ok when Pog leaves", We'll be ok when Aluko and Baldock leave", we'll be ok when Moore leaves".
" We'll be ok with the new stadium". Guys, you can't even pay for it. 777 looking more and more like dead ducks, Peel Ports apparently bailing out the stadium and renting it back to them. I'm not sure they realise just how much shit they're in. I think they believe they're too big to be oxf*rd.
It's one thing someone sinking £50m into us, a billionaire could spend that on a yacht and we've struggled to find a buyer, but not £500m, that's a major project.
Exactly. No-one's going to buy these players, unless they're willing to take a huge wage drop, so they're stuck with them until their contracts expire and they'll get no money for them when they leave. I think Alli's is up this summer, but it won't free up enough funds to bring in another player into their squad.
Even if Everton could find £500m for the stadium, they'll be paying off the debt for a long time - at a time when interest rates have shot up. Everton were initially going to have a huge loan from Liverpool City Council, who borrow at a very low rate from the Government - a deal which would've seen the council receive £7m p/a profit. That was when costs would've been £280m for the stadium.
Let's say, therefore, Everton will be paying £15m annually in debt payments on the stadium - that's over £250k p/w or the wages of four or five good Premier League players. Not considering the costs of running and maintaining the stadium. They'll probably get increased revenues (as long as they're in the Premier League), but it's an enormous cost for even the richest clubs.
That's on a conservative estimate and assuming costs don't continue to increase (as they typically do).
As we've found out, these financial red flags tend not to be a quick fix - and can often get much worse before they get better.
