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Excellent financial results at Everton

Everton is the latest Barclays Premier League club to report an excellent set of financial results, boosted by broadcasting revenue.

Turnover was over £100m for the first time, up 39 per cent at £120.5m,   £88.5 m of this was accounted for by broadcasting revenue, up by £30m.   Gate receipts were also up by £2m to £19.2m.   One area for further development is commercial revenue and the plans for a new stadium should help there.

How firm are the foundations of Bournemouth's success?

Bournemouth are enjoying unprecedented success.  They are in the quarter finals of the league cup for the first time and two points off the top of the Championship.

But how firm are the financial foundations of their success?   The club is owned by Russian Maxim Victorovich Demin.  He has a petrochemical company registered in Germany and a mansion in nearby Sandbanks.

He bought  halft he club for a reported £850,000 in 2011 and the other half in 2013.   The club almost went out of existence in 2008 with debts of about £4m and a 17-point penalty.

Good financial results at Norwich

Norwich City have reported a good set of financial results for the year ended June 2014 when, of course, they were still in the Premier League.   Operating profits were £9.5m compared with £4.6m for a comparable period in the preceding year.  

Bulls battle on

Hereford United secured another adjournment of a winding up order at the High Court earlier this week.  It was postponed for six weeks until December 1st with the club promising £1.5m in investment.

Herefordshire Council tried to take possession of Edgar Street on Thursday evening, but were thwarted by the assistant manager who was there.   The next day they started proceedings for possession in the county court.   However, the club paid £50,000 in rent and legal fees on Friday afternoon.

Ashley makes ground at Rangers

Newcastle United owner Mike Ashley is tightening his grip on Rangers.  Financial consultant Philip Nash, one of the two directors he has been trying to remove, has resigned from the board with immediate effect.

This suggests that rescue plans from indviduals other than Mr Ashley are unlikely to succeed.  The offer of £16m for the club from former director Dave King looks set to fail because of opposition from Sandy Easdale who controls 26 per cent of the voting shares.

Billionaire to take over at Palace?

Crystal Palace may be on the verge of becoming the sixth Premiership club to be either American owned or to have an American majority shareholder.   American billionaire Josh Harris is being linked with an acquistion of the club.

Harris, who owns the NBA team Philadelphia 76ers, was linked with a possible takeover at Aston Villa earlier in the year.

Forest in breach of FFP rules

Nottingham Forest look likely to be hit with sanctions under the Football League's Financial Fair Play rules.  They may have exceeded their maximum permitted losses of £8m for the 2013-14 season.

Accounts for the period have yet to be published, but they reported a £14m loss in 2012-13.  Billy Davies, their former manager, spent £7m on players last term.

Villa mistaken for non-league club

It is often been argued that Aston Villa have been punching below their weight, but now they have been mistaken for a non-league club.   They have been drawn away to Pegasus Juniors in the first round proper of the FA Vase.

They have been confused with Aston FC, a junior non-league side representing the same district of Birmingham.

Rangers bid talks

Dave King, who in conjunction with two other businessmen, is seeking to make a £16m bid for Rangers has been in talks with influential shareholder Sandy Easdale.   King needs the support of 75 per cent of shareholders and Easdale controls 26 per cent of the voting shares.    King is said to be open to a deal which would avoid dilution of the stakes of existing shareholders.

Olympic Stadium costs rise

The overall bill for the Olympic Stadium is set to soar well beyond £600m before West Ham United move in after it emerged that installing the complex roof would be far more expensive than originally thought.

The complications will not cost West Ham – due to move into the 54,000-seat stadium from the start of the 2016-17 season – another penny on top of the £15m they have pledged towards the conversion.