New figures have revealed that despite being 11th on the list of the top players wages paid by football clubs in 2012, Everton are actually only 16th on the list of Net Spend by Football clubs since 2006 in research conducted by Sport Magazine
Even more worrying for Everton fans is the fact that 2 clubs that are below Everton are Arsenal in bottom place on minus £40m; who’s player sales include Robin Van Persie (£29m), Alex Song (£15m), Cesc Fabregas (£35m), Samir Nasri (£22m), Emmanuel Adebayor (£25m), Kolo Toure (£16m) and Alexander Hleb (£11.8m), yet have still managed to spend over £184m on players in that time. Also below Everton are Newcastle on minus £8m (£8m profit) who’s player sales include Jose Enrique (£6.3m), Andy Carroll (£35m), Sebastien Bassong (£10m), Obafemi Martins (£9m), James Milner (£12m), Shay Given (£8m), Charles N’Zogbia (£6m), Kieron Dyer (£6m) and Scott Parker (£7m). Newcastle have spent well over £128m in this time.
The other 2 clubs that are below Everton in this table are Wigan (minus £5m) and Reading (minus £8m). Everton Norwich, who have spent much of the time in the lower league have spent £10m net spend.
Looking at Evertons spend since 2006. They have sold £87m worth of players including Jack Rodwell (£15m), Andy Johnson (£10.5m), Joleon Lescott (£23m), Mikael Arteta (£10m), yet have only spent £89m on players, which is over £100m less than Arsenal and £30m less than Newcastle, despite Newcastle suffering relegations in that time.
Wigan in this time have spent over £74m on players, which is only £15m less than Everton in this time, despite being a much smaller club in terms of Fanbase, History and stadium size. Infact even Stoke have spent £92.5m despite spending the first 2 seasons of this report in the Championship, having a much smaller capacity stadium and raising less in player sales.
Looking at the above figures, it seems clear that firstly, David Moyes has done a tremendous job in stabalising the club and secondly, the club is being severely mismanaged financially and making a loss, despite only spending £2m net in player sales since 2006.
What are your thoughts on the current goings on at Everton? Have your say on www.theevertonforum.com
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Why is this mismanagement? Is it not sensible to try to live within your means? The club does not generate enough revenue. It is stuck in an old stadium that needs rebuilding.
We have not had the money to spend so we have not spent it. Newcastle have spent more than us but have not achieved anything except relegation. I don’t understand the point this article is making other than Everton are broke and so are not spending stupidly. Should we be more irresponsible with our transfer budget?
Chris, It depends if you are happy to be competing along the same lines as Reading and Wigan. Wigan don’t have a massive stadium, they don’t generate loads of money, they made a profit on transfer fees, yet still spent close to what we did. David Moyes has hidden the details of our spending by outperforming what his low budget is. The question you should be asking yourself is Why Everton are broke, when we are midtable on the wages league and just about bottom of the net spend league. Why have we sold all our assets, rarely spend a high amount on a player and fill our stadium most weeks – yet do worse financially than teams like Stoke, Fulham, Norwich, Aston Villa, West Brom etc….
It may surprise you, but none of these clubs have have top class stadiums, yet their wage bills are often more than ours and they spend more in transfer windows.
I’m not pro the board or anti the board, BUT I do run businesses and believe in maximising profits and being open with finances and where they come from.
So we should spend more money and get deeper in debt? Buy more players and pay bigger wages would make us more successful?
So a £2mil lose since 2006 is mismanagement?
It’s lost me?????
Football must be the only business where its consumers want it to go bankrupt. You couldn’t make it up.
Nowhere has wanting a club to go bankrupt been mentioned. Take a look at Jay’s comment and it may explain.
Everton made a profit and had net assets when Peter Johnson was run out of the club.
Since the day Kenwright took over Everton have consistently made operating losses despite selling off ALL of our assets and having record income levels from Sky etc.
Of course Everton have been mismanaged and the supporters constantly lied to.
Kenwright must have something to hide as he banned AGMs for the first time in the club’s history to avoid awkward questions.
YEAH we were fighting for survival every season as well!
I think the AGM was banned because folks were pointing finger’s at the board about things to hide but, with no evidence to back it up and nothing was being achieved from it so what was the point?
EFC operate at a loss each year and their outgoings exceed the incomings. Hence the policy of selling players to pay debt interest. Wage bill has risen too, not least moyes on 80K a week. Unless we are taken over by a billionaire with money to burn without a new stadium with corporate and other facilities this policy will continue. Jack Carter
And some fans recently were saying Blue Bill is really good, seems he’s selling us down the swanny in reality and the sooner he goes the better! He’s only been looking for investment for 6 years with the so-called help of experts! FFS if I performed like that over 6 Months or less id be out of a job! Kenwright is a useless fat lying git who hasnt given Moyesy a dime for years and his time is well overdue!
I think the main issue with Everton’s finances is the total lack of investment from the board. It’s fairly clear that Kenwright has the backing of other larger shareholders by the way they always back his decisions. It makes me wonder why? I can only conclude that their interest is not in the club or its success but in turning their investments into a massive profit when the club is sold. In return for his promise of great profit they back Kenwright until he sells: they don’t invest, they don’t involve themselves in the running of the club, they don’t promote the club. They are the circling vultures around Goodison Park.
Isn’t it because we were broke when he took over ? and we’re still broke ! Think I read we pay about 3 million a year in interest on our debt over the years that 30 odd million those other clubs you mentioned in the comments haven’t had to find ?
Ant, I understand exactly what it means. I think you are missing the point in the article completely. Looking at the bigger picture.