| Marcus Evans Group Business Model 07:16 - Mar 19 with 1174 views | TLA |
I genuinely wish we knew more about the MEG business model.
My suspicion is that when he took over, other parts of the business were doing well, with a forthcoming Olympics in London and a better general economic climate. Converting money from other parts of the business into debt at a football club, particularly one with a decent chance of reaching the Premier League riches, was probably low risk for potential high gain.
Now things probably don't look as good elsewhere in the MEG, with the challenges of the aftermath of Brazil and more uncertain economic times. I wonder if that means money from transfers is moved around the business, rather than going directly into our coffers. Minimising losses until things change elsewhere in the MEG may well make sense, especially when there's £80m+ to recoup.
It might be the difference between having a rich fan and a business man as owner. It's definitely depressing to know our club is one division of a business, rather than an entity in it's own right. It definitely means that ME won't sell in our interests, only those of the MEG. |  | | |  |
| Marcus Evans Group Business Model on 07:21 - Mar 19 with 1148 views | ElderGrizzly |
Have a look at the accounts. It shows exactly where our money goes & is independently audited. He certainly can't load debt from other parts of his businesss onto us as you describe.
A lot of clubs are part of wider 'holding companies' too. Not some giant conspiracy here, just the simple truth that Evans can't afford to keep up with the top 8 or so in the league. |  | | |
| Marcus Evans Group Business Model on 07:24 - Mar 19 with 1135 views | TractorWood |
Even with Ipswich his estimated worth is just shy of £800m and this is increasing by around 5-10% annually. He's doing something right but it's not anywhere close to Portman Road. |  |
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| Marcus Evans Group Business Model on 07:29 - Mar 19 with 1122 views | ElderGrizzly |
| Marcus Evans Group Business Model on 07:24 - Mar 19 by TractorWood |
Even with Ipswich his estimated worth is just shy of £800m and this is increasing by around 5-10% annually. He's doing something right but it's not anywhere close to Portman Road. |
His net worth is i agree, but it doesn't mean he has any more cash in his pocket.
One small house i own is worth 5 times what i paid for it. It doesn't mean i have a penny more to spend though and that is the situation Evans is in now. And he is so risk averse he won't remortgage to move up to a bigger house in a nicer area. | | | |
| Marcus Evans Group Business Model on 07:37 - Mar 19 with 1094 views | TractorWood |
| Marcus Evans Group Business Model on 07:29 - Mar 19 by ElderGrizzly |
His net worth is i agree, but it doesn't mean he has any more cash in his pocket.
One small house i own is worth 5 times what i paid for it. It doesn't mean i have a penny more to spend though and that is the situation Evans is in now. And he is so risk averse he won't remortgage to move up to a bigger house in a nicer area. |
Well you'd imagine his majority share in in the consolidated, group companies would be partly compromised of cash as it's not a very asset intensive industry. Your unrealised gain point is relevant if the consolidated balance sheet has lots of property or longer term, intangible assets. We wouldn't know though as top co is incorporated in BVI or alike and there is access to the statutory accounts 😉.
You have no idea how much is cash, I have no idea how much is cash. | |
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| Marcus Evans Group Business Model on 07:53 - Mar 19 with 1058 views | ElderGrizzly |
| Marcus Evans Group Business Model on 07:37 - Mar 19 by TractorWood |
Well you'd imagine his majority share in in the consolidated, group companies would be partly compromised of cash as it's not a very asset intensive industry. Your unrealised gain point is relevant if the consolidated balance sheet has lots of property or longer term, intangible assets. We wouldn't know though as top co is incorporated in BVI or alike and there is access to the statutory accounts 😉.
You have no idea how much is cash, I have no idea how much is cash. |
We don't. Someone on here posted it was as low as 15%, which isn't a lot if true.
His company makes very little profit from the documents that are available, so something is increasing his worth and it isn't purely business trading performance.
But my point to the original post holds, that he can't load us with debt from another company in MEG and the accounts show it isn't happening too. | | | |
| Marcus Evans Group Business Model on 08:07 - Mar 19 with 1015 views | No9 |
| Marcus Evans Group Business Model on 07:53 - Mar 19 by ElderGrizzly |
We don't. Someone on here posted it was as low as 15%, which isn't a lot if true.
His company makes very little profit from the documents that are available, so something is increasing his worth and it isn't purely business trading performance.
But my point to the original post holds, that he can't load us with debt from another company in MEG and the accounts show it isn't happening too. |
How can you review the accounts of his holding companies e.g. ME WW is not a UK listed Company, nor is ME Guernsey, nor ME BV.
You may have noted that he has moved a lot of his 'holdings' from Bermuda to the Isle of Man?
If you have the links to corporate accounts please forward them to me as I would like to review these accounts |  | | |
| Marcus Evans Group Business Model on 08:08 - Mar 19 with 1012 views | TLA |
| Marcus Evans Group Business Model on 07:21 - Mar 19 by ElderGrizzly |
Have a look at the accounts. It shows exactly where our money goes & is independently audited. He certainly can't load debt from other parts of his businesss onto us as you describe.
A lot of clubs are part of wider 'holding companies' too. Not some giant conspiracy here, just the simple truth that Evans can't afford to keep up with the top 8 or so in the league. |
I suspect that you understand finance much better than I do, and I certainly wasn't thinking of a conspiracy!
As I understand it, MEG is a business with different arms transferring money in the hope of maximising profit, not loading debt. I've never thought that we're a huge tax relief because I do know a little bit about how that works.
I thought I did read in our accounts that some money had been loaned to another part of the group but I may be wrong. However, ME is not investing his own money so if our profit from transfers saves him moving several million to cover our debt, that money is available elsewhere in the group surely?
Again, I may be wrong and ME might be covering our shortfall personally. As I understood it, it's converted into debt, owed to MEG - so not debt-loading but adding to the accounts of the whole group. | | | |
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