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Marcus Evans - surely skint soon?

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I know we shouldn’t talk about that lot down the road but I had a thought today. Surely Marcus Evans, whose core business is putting on conferences and a failing league one football team, has got to be making huge losses right now?

I mean, I know he hasn’t got to worry about inconvenient costs like “tax” or anything but surely he’s got to be losing a lot of cash

I would actually not like Ipswich to go out this way. Blaming coronavirus is too convenient an excuse for total collapse. 

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Not like he was putting any money into the club, in fact the interest payments on his loan to Ipswich might be his most lucrative source of revenue at the moment!

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Except if the scum’s revenue streams are drying up they won’t have the dosh to pay his loans interest. I expect their debt to be well over £100 million by the end of this season.  👍👍👍
 

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He stopped charging interest on the Ipswich loan about 3 years ago. 

I wouldn't worry about him going bust. He is extremely wealthy. Covid just means he stops making more. 

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2 hours ago, Canary Wundaboy said:

Not like he was putting any money into the club, in fact the interest payments on his loan to Ipswich might be his most lucrative source of revenue at the moment!

He lends the club about £4m-£6m per year, every year, to keep them going. 

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1 hour ago, TeemuVanBasten said:

He lends the club about £4m-£6m per year, every year, to keep them going. 

I’ve got some money I can’t get out of Nigeria. Do you think he’d be interested?

 

Also some Viagra going - any takers?

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1 hour ago, TeemuVanBasten said:

He lends the club about £4m-£6m per year, every year, to keep them going. 

Yeah he hasn't taken anything out for ages if at all. Ipswich owe him in the region of £100m. 

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1 hour ago, Beefy is a legend said:

Yeah he hasn't taken anything out for ages if at all. Ipswich owe him in the region of £100m. 

Not sure how the ownership is structured, but there may be some smart tax accounting involved if Ipswich is owned by an umbrella company which owns other companies of his.

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5 hours ago, Beefy is a legend said:

Yeah he hasn't taken anything out for ages if at all. Ipswich owe him in the region of £100m. 

I'm not sure whether he charges them rent for the training ground he bought from the club or adds this to the debt ... same thing really.

They will still have to pay the local council rent for the ground unless some arrangement has been made.

There have been problems with the payment of this rent in the past.

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As much as it is good to poke fun at the Scum and their finances 2020 has not done us the favours we were hoping for and self financing will be severely tested if the current situation extends into next spring. Some seem to think we are wallowing around in piles of cash and it may well be that things are not quite that rosy.

Of course we will not be in their perilous state but our income streams are suffering greatly.

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Would people like to see ipswich go bust or do you prefer the rivalry? I do enjoy the rivalry but I’d prefer them to go bust just to devastate the fans 😁 

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1 hour ago, TIL 1010 said:

As much as it is good to poke fun at the Scum and their finances 2020 has not done us the favours we were hoping for and self financing will be severely tested if the current situation extends into next spring. Some seem to think we are wallowing around in piles of cash and it may well be that things are not quite that rosy.

Of course we will not be in their perilous state but our income streams are suffering greatly.

Indeed.

If the current situation carries on for a long period then City could run out of money before Evans.

Whether he will be prepared to stomach the loss is the big question. I, personally, cannot see that he will. Even with fans they lose C. £6m per annum. Their losses at the moment could be double this.

 

It's one hell of a commitment. 

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12 hours ago, Nuff Said said:

I’ve got some money I can’t get out of Nigeria. Do you think he’d be interested?

 

Also some Viagra going - any takers?

Thing about viagra is that if you dont wash it down with a full glass of water, all you end up with is a stiff neck !!! ....well that's what a friend  told me.

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Somebody must be supplying the weapons to all the nutjob groups arming themselves in the USA-he’s probably making something out of the situation.

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1 hour ago, BroadstairsR said:

Indeed.

If the current situation carries on for a long period then City could run out of money before Evans.

Whether he will be prepared to stomach the loss is the big question. I, personally, cannot see that he will. Even with fans they lose C. £6m per annum. Their losses at the moment could be double this.

 

It's one hell of a commitment. 

I think you'll find that level of losses won't be allowed in League 1. The financial restrictions are much tighter than in the Championship. If memory serves me right wages can't exceed 65% of turnover. There are adjustments for relegated teams but they don't last long. 

Edited by dylanisabaddog

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3 hours ago, TIL 1010 said:

As much as it is good to poke fun at the Scum and their finances 2020 has not done us the favours we were hoping for and self financing will be severely tested if the current situation extends into next spring. Some seem to think we are wallowing around in piles of cash and it may well be that things are not quite that rosy.

Of course we will not be in their perilous state but our income streams are suffering greatly.

The shortfall figure of £5m presumably fed by the club to Michael Bailey seemed overly optimistic at the time, which was a while ago and certainly looks on the small side now. That said, I don't see the self-financing model being unable to cope this season. And that is in isolation. In comparison to many other Championhip clubs we are probably in a reasonably safe position.

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3 hours ago, vlad666 said:

I do enjoy the rivalry but I’d prefer them to go bust just to devastate the fans 😁 

If you really want to devastate their fans I hope they don't go bust. What could be more devastating than paying to have their expectation of promotion dashed year after year?

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3 hours ago, vlad666 said:

Would people like to see ipswich go bust or do you prefer the rivalry? I do enjoy the rivalry but I’d prefer them to go bust just to devastate the fans 😁 

I hate the s(um and love to see them struggle and lose but at the end of the day of the day the majority of their fans are just doing the right thing; following their local club. I actually have more respect for Ipswich-born people supporting Ipswich than I do Ipswich-born people supporting Man Utd or Chelsea. Those fans deserve to have their club continue, even if the number of loyal fans is dwindling to embarrassing levels and they are now a club too small for their stadium (all things I enjoy laughing at).

But it'd be a sad day for a few thousand dedicated supporters who are doing football the right way, and for them the hard way. I don't want them to go bust at all. I'd quite enjoy them to plummet into non-league and still witness some of their fans tie themselves in logical knots to claim they are East Anglia's biggest club, whilst Lowestoft beat them regularly, but go out of existence? I can't understand why any proper football fan would want that of any club.

Edited by canarydan23
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2 hours ago, PurpleCanary said:

The shortfall figure of £5m presumably fed by the club to Michael Bailey seemed overly optimistic at the time, which was a while ago and certainly looks on the small side now. That said, I don't see the self-financing model being unable to cope this season. And that is in isolation. In comparison to many other Championhip clubs we are probably in a reasonably safe position.

I have just come across a survey which puts our income  loss per match day at £1.1m (ticket sales, catering and commercial), which is a bit above a rough figure I produced a while back. The survey has our deficit just below Derby's, who are supposed to have the largest loss, but we do  have parachute payments. Whether these figures take into account money that gets saved because of the lack of football is a question.

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9 hours ago, TIL 1010 said:

As much as it is good to poke fun at the Scum and their finances 2020 has not done us the favours we were hoping for and self financing will be severely tested if the current situation extends into next spring. Some seem to think we are wallowing around in piles of cash and it may well be that things are not quite that rosy.

Of course we will not be in their perilous state but our income streams are suffering greatly.

We would be in a much bigger mess if we were carrying a load of debt! I think that we are much better placed to face the crisis than many of the club with "sugar daddy" owners. 

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4 hours ago, PurpleCanary said:

I have just come across a survey which puts our income  loss per match day at £1.1m (ticket sales, catering and commercial), which is a bit above a rough figure I produced a while back. The survey has our deficit just below Derby's, who are supposed to have the largest loss, but we do  have parachute payments. Whether these figures take into account money that gets saved because of the lack of football is a question.

But we will still presumably be getting parachute money of around £2 million per home game - a radically different position to 2 years ago.

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10 hours ago, vlad666 said:

Would people like to see ipswich go bust or do you prefer the rivalry? I do enjoy the rivalry but I’d prefer them to go bust just to devastate the fans 😁 

I would love it, love it (Keegan style) if they go bust. I have, do and always will hate them and anything that hurts them is good for me. Ideally, it would be a slow gradual decline, culminating in them going out of business with a whimper, and so insignificant that nobody cares and nobody runs a story. However, I'd still be happy with them going bust next season and the news caring for 5 minutes.

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I don't get this whole Marcus Evans / Ipswich thing. People have tried to explain it to me before but I'm too thick I guess.

I look at things through my understanding of the world. When people talk about millions of pounds as if it's throw away amounts I try to imagine that money in real terms. So I just read that by the end of the season they could owe Evans £100m. At what point didn't that seem a good idea? Or has it always seemed a good idea to keep throwing money in that bottomless pit. Is the guy married? With kids? At what point did the family begin to worry about their inheritance? Has Marcus junior asked daddy for a car yet? "Sorry son, can't even manage an old jalopy this year because I have to chuck another six million into the portaloo". Does Mrs Evans have to make every penny count and get more for less in ASDA because the portaloo needs feeding? It's not like Evans even had any history with the binners. He wouldn't be able to pacify the family by pointing his love of the club since before he could remember. No happy childhood with pictures with Eric Gates on the bedroom wall. I just don't get it...

And then I think how apparently if we had someone putting in just a fraction of this £100m we'd be established in the PL. I don't get that either...

I don't think things can ever be what they appear to be.

Can they?

 

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If Evans owns Ipswich, does Evans owe himself 100 million? It’s not like he’s borrowed the money from elsewhere to fund the club!

Does he stump up 6 million a year too? But yet he’s running the club into the ground...I’m lost to what benefit there is in it for him, he’s pumping in millions for what gain? Even if they got to the land of milk and honey it would take years in the Premiership to gain the money he’s pumped into them back.

So if he has no love for the game or club, why is he doing it?

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Exactly Indy.

People try to explain it to me but it makes no sense. Evans should be in the nuthouse. Family surely must have bailed long ago.

Unless of course...

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21 minutes ago, Indy said:

If Evans owns Ipswich, does Evans owe himself 100 million? It’s not like he’s borrowed the money from elsewhere to fund the club!

Does he stump up 6 million a year too? But yet he’s running the club into the ground...I’m lost to what benefit there is in it for him, he’s pumping in millions for what gain? Even if they got to the land of milk and honey it would take years in the Premiership to gain the money he’s pumped into them back.

So if he has no love for the game or club, why is he doing it?

I don’t see what’s in it for Evans now, but equally I am not sure what way out there is now. It is hard to see anyone buying the club and paying Evans what he has put in, and he may feel some responsibility not to sell the club down the river just to extricate himself. 

I assume this what not what he intended or expected when he bought the club, but has found himself getting sucked further and further into a position where there is no easy solution.

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9 hours ago, PurpleCanary said:

I don’t see what’s in it for Evans now, but equally I am not sure what way out there is now. It is hard to see anyone buying the club and paying Evans what he has put in, and he may feel some responsibility not to sell the club down the river just to extricate himself. 

I assume this what not what he intended or expected when he bought the club, but has found himself getting sucked further and further into a position where there is no easy solution.

He was sold a pup. His lack of genuine knowledge of the game led him to believe that a bit of (quite a lot actually) investement in the club for player purchases and the appointment of the high-profile Roy Keane as manger would lead to an automatic ticket to the Premier League and lots of profit and increased status for himself. He has not been the only one guilty of pursuing this mistaken path and Derby County's owner (?) seems to be at the top of a very large list of such failures.

He made a decent stetment yesterday which was full of good sense re: the current situation. It was recounted on TWTD. He estimated that his club's loss this coming season would be up to £10m.

How can this go on?

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1 minute ago, BroadstairsR said:

He was sold a pup. His lack of genuine knowledge of the game led him to believe that a bit of (quite a lot actually) investement in the club for player purchases and the appointment of the high-profile Roy Keane as manger would lead to an automatic ticket to the Premier League and lots of profit and increased status for himself. He has not been the only one guilty of pursuing this mistaken path and Derby County's owner (?) seems to be at the top of a very large list of such failures.

He made a decent stetment yesterday which was full of good sense re: the current situation. It was recounted on TWTD. He estimated that his club's loss this coming season would be up to £10m.

How can this go on?

I don’t get that, everyone knows prolonged time in the premiership doesn’t make profit as the wages and other expenses mean most clubs run up massive debts getting there and then treading water when there.

So the 100 million debt would require a southampton style stay where fringe players are bought developed and sold for big profits.

Like Nutty I don’t get him, why keep ploughing good money after bad, pull the plug, take the hit will be the outcome at some point.

But they won’t be alone with the current lockdown additional measure, I think football will need to reset and yet we still see the likes of United bidding 90 million for Sancho!

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I didn't, at first, think your reply was intended for me Indy.

 

I'm referring to the time Evans bought the club. At the time he anticipated PL football for his club, undersestimated the difficulties involved with achieving this and at the time  thought it would be an easy route to profit and esteem. As I stated and even for that time he exhibited a genuine lack of real knowledge of the game.

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31 minutes ago, BroadstairsR said:

He was sold a pup. His lack of genuine knowledge of the game led him to believe that a bit of (quite a lot actually) investement in the club for player purchases and the appointment of the high-profile Roy Keane as manger would lead to an automatic ticket to the Premier League and lots of profit and increased status for himself. He has not been the only one guilty of pursuing this mistaken path and Derby County's owner (?) seems to be at the top of a very large list of such failures.

He made a decent stetment yesterday which was full of good sense re: the current situation. It was recounted on TWTD. He estimated that his club's loss this coming season would be up to £10m.

How can this go on?

I agree that Evans made some overly optimistic assumptions in buying the club, and I agree that from the outside it seems as if this cannot go on, but my question remains - how actually does he get himself out of the mess he finds himself in?

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