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Monday, August 4, 2008

Everton proposed sale brings adverse pressure on Kirkby decision process

Speculation over the weekend and confirmation by the Liverpool Echo that Everton are for sale, a story carried on Everton's official site over the weekend, represent a colossal own goal of epic proportions even for the Everton public relations department. KEIOC's insider at Knowsley's planning department explained that this admission could make the claimed material consideration attached to the non-sale by the directors of the club null and void. The problem being that by selling the club the Everton board directors would be direct beneficiaries of the land transfer and cross subsidy, derived from the total value of the project, estimated to be £52M.

The Tesco application still contains the regeneration and job creation material considerations but many believe that Kirkby could still obtain regeneration with a smaller development and the number of jobs is questionable as the impact assessments provided by neighbouring authorities highlight potential job losses in other retail centres thereby negating this particular aspect of the application. There remains an additional concern that all phases of the development may not be completed to the satisfaction of the Secretary of State.

In an separate article, in The Mail on Sunday, Daniel King reveals that Philip Green not only introduced Robert Earl to Bill Kenwright but also paid Paul Gregg for his shares, many suspect Philip Green is the de facto owner of Everton Football Club and as such the Secretary of State, as a result of these articles, will have been given ample ammunition to hold a public enquiry by bringing into question Philip Green's role as alleged Everton owner and beneficiary of the massive retail development in Kirkby if Arcadia were to be heavily involved, the impressive portfolio of companies under that umbrella makes it almost impossible for them not to have an involvement.

Let's hope that the eagerly awaited EGM will bring the answers that many shareholders and supporters of the club have demanded for a long time.

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