Everton warned over material uncertainty in case of relegation
Everton have reportedly been warned that there is “material uncertainty” over their ability to trade as a business should they be relegated from the Premier League.
According to the Times on 31 March, this has also shown the over-reliance on owner Farhad Moshiri.
Auditors Crowe UK LLP also warn about the repercussions of dropping down to the Championship and the dependence on their majority shareholder.
Via Twitter, the Times wrote, “Everton have been warned there is a ‘material uncertainty’ over the club’s ability to trade as a going concern should they be relegated from the Premier League this season.”
Total chaos
The rotten nature of how the club is run from top to bottom is slowly getting exposed and it’s not a good look for the people in charge.
Everyone knew that Moshiri has been incompetent as an owner, but these financial statements reveal that the problem is not entirely blamed on him.
The entire boardroom needs to be changed if there are any hopes of Everton going to the next level, which appears to be a dream right about now.
If the club cannot function as a going entity, there seems to be very little point in anyone investing any money into it and that’s not how things should be.
All this is happening while there is a relegation threat from two different places as there is the direct option based on results and the other due to them allegedly being on the wrong side of the Premier League’s financial rules.
They also have their new stadium project ongoing which only are likely to lead to higher costs incurred by Everton.