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Monday, September 8, 2008

Majority of Everton Shareholders Left Disappointed

On Wednesday 3rd September 700 Everton Shareholders gathered to hear the board explain their position and dispel the concerns of ordinary shareholders and supporters surrounding the proposed move to Kirkby. The next day, through the press, the general public were reliably informed that for every question there was a logical answer and for every concern there was an explanation. KEIOC want you to read the transcript of what actually happened, you can then decide if the EGM was accurately reported, whether the questions were answered and the concerns addressed, these included:

  • An explanation for the apparent departure from what had been promised on transport, namely that Kirkby would represent the best served stadium in the North West, if not the UK, involving changes to M57 junctions, total redevelopment of Kirkby train station and use of park and ride and park and walk schemes.
  • An explanation as to why Everton claim LCC has offered them nothing.
  • The details surrounding the actual cost of the Kirkby stadium in light of significant price rises in the construction industry
  • The plan to raise Everton's contribution to the total cost of the stadium
  • What is the status of the promised Plan B

The evening began with Robert Elstone giving the assembled audience a presentation on the reasons why Everton need to increase their capacity, how Everton, having worked with LCC, had concluded that there was no suitable sites in the city, how Kirkby ticked all the boxes and why re-development of Goodison appeared unsuitable including a projection that indicated the redevelopment of just one stand, Bullens Rd, would cost 80% of the cost of constructing the whole of the Kirkby stadium.

You can read it all here.

When the result was announced the club's solicitor declined to reveal what the individual vote was on the night, this was thought to be 60/40 in favour of the resolution but indications now estimate that it was nearer 70/30.

It was hoped that the board would take the concerns of the majority of shareholders present seriously, instead, the next day; they claimed that the result of the poll somehow confirmed the mandate they had claimed after the fan ballot. The CEO may have changed but the spin and hype, sadly, remains the same.

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