Business expert shares terrifying Everton 'bankruptcy' verdict as document revealed
Relegation for Everton could likely result in bankruptcy with their ability to finance day-to-day operations severely tested, according to Business expert Mike Gow.
According to the Times on 31 March, the Toffes have been warned there is a “material uncertainty” over the club’s ability to trade as a growing concern should they be relegated from the Premier League this season.
And Business expert Gow took to his Twitter account [31 March] to reveal documents of Everton’s financial statements from the 2016/17 campaign to 2018/19, which could “absolutely terrify” fans.
He tweeted: “Basically if Everton are relegated, their ability to finance day-to-day operations would be severely tested. This would likely result in administration (bankruptcy).
“Assurances have been made by Moshiri to continue financing, but this is not ‘legally binding’.”
Gow also went on to reveal that the future of Everton football club is in doubt should relegation occur.
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Not a good look
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 at the top.
Years of mismanagement and incompetence are finally being brought to the fore for which the board and Moshiri should be held accountable and put under further scrutiny.
Moshiri has known to be an incompetent owner, but these financial statements reveal that the problem is not entirely blamed on him, but on those at the top as a whole.
The entire boardroom needs to be changed immediately if there are any hopes of Everton going to the next level, which certainly looks unlikely right now.
Relegation could have damaging consequences for the club and there is now the threat of administration as pointed out by Gow in an entire worrying Twitter thread and also pointed out by the Guardian too.
The club also have their new stadium project ongoing which only are likely to lead to higher costs incurred, so imagine the huge ramifications should they fail in their quest to secure their Premier League safety.
It’s in fact unimaginable but a huge likely outcome if Sean Dyche and his men aren’t at their best in the coming weeks. Wow.