777 Partners / Whatever the hell you like

[Streetender1878]

Would be nice if maybe a stayaway owner/Moshiri/ Chairman (lol) Kenwright/ Head of Communications Prentice, would even try and put an end to the speculation. God knows in the case of Kenwright and Prentice, they are being paid enough.

I know hahaha

 

[Moomin]

If you look at our costs as well, player salaries last financial year was £99m and currently its £65m, so we are heading in the correct direction to bring that down. We also brought in over £70m in player sales, we committed to spend £35m, but the Beto Fee around £22m, we don't start paying till next year.

I think this is probably around cash flow for the stadium, Moshiri probably doesnt want to pay the next payment that is due for the stadium, as hes going. 777 are taking over so they are paying it instead, through this loan.

Our salaries last year wasn't 99m

 

[ForeverEverton]

Yeah and what about the four years before that?h They all show around 100 million in losses.

If we assume that the 50 mil lost last year will be reduced by wages coming off the books and sold players then we might be somewhat breaking even.

That's a big assumption though as it's been widely known that the last two years of transfer business have all been installments deals. Maybe we spent nothing up front this summer but we still have installments for Mykolenko, Maupay, McNeill and Onana to pay off.

Any shortfalls to operating expenses are being covered with these loans, and incurring more interest servicing payments.

Part of me suspects that this loan from 777 is to prevent the club from continuing to extend the ridiculous agreement with Rights and Media funding Ltd as they're due immediate repayment at their terms and rates upon any takeover.

Agreed, that would be my assumption not this cataclismic story of this money stopping Everton falling in to administration....

 

[Blue83]

Yes I know DBB headlock didn't happen, the point is because of that, they have shown themselves to be liars so it's difficult to tell what is real and what is not concerning our finances because it's totally believable they could have ran up massive debts. But, it's equally believable it's just a made up story to get us on board with 777 being the new owners, by framing them as saviours of the club

 

[OneTrueLegend]

Our salaries last year wasn't 99m

its on sportrac.

2022-23 Everton F.C. Payroll Table

An updated look at the Everton F.C. 2022-23 payroll table, including team totals, retained figures, and complete breakdowns of player salaries, and bonuses.

www.spotrac.com

its listed under "Total Salaries"

Total Salaries

£99,937,000

 

[Streetender1878]

When does the stadium become a £500m asset again a positive, a part of the rejeuvenation of the club and the north of the city? Instead of a £500m millstone dragging us down.

 

[Moomin]

its on sportrac.

2022-23 Everton F.C. Payroll Table

An updated look at the Everton F.C. 2022-23 payroll table, including team totals, retained figures, and complete breakdowns of player salaries, and bonuses.

www.spotrac.com

its listed under "Total Salaries"

Total Salaries

£99,937,000

Sportrac is a load of crap. From our last set of accounts

 

[matty1878]

Yes I know DBB headlock didn't happen, the point is because of that, they have shown themselves to be liars so it's difficult to tell what is real and what is not concerning our finances because it's totally believable they could have ran up massive debts. But, it's equally believable it's just a made up story to get us on board with 777 being the new owners, by framing them as saviours of the club

are we guna no?

 

[PhilEFC]

Where’s these Asian’s waiting in the wings Alan Myers mentioned?

 

[Efcjake]

Do those accounts you refer to include the losses on the stadium? I thought for ffp reasons they were legitimately kept separate?

If they are then the stadium costs will be in addition?

I've just looked over the accounts and no, the stadium expenses are not accounted for in the operating expenses. Moshiri is out of cash he can or will access to fund the stadium and any club losses. They make a point in the accounts to state Moshiri gave a letter to the directors indicating a commitment to fund the club's losses for a period of no more than twelve months but that this wasn't a legally binding arrangement.

In those latest accounts the first 200 million or so of the stadium build is from a loan converted to equity by Moshiri.

Whatever new accounts we have will feature these new short term funding agreements for the stadium and operating costs and we will likely see interest payments ballooning in these next accounts as we never had to pay much besides what was used on the R&M facility since Moshiri didn't charge us interest and converted the debt into equity.

This very well could be a loan to service our loan repayments and cash flow issues beyond increasing our position with R&M which will be repaid in the event the takeover goes through. It makes sense to lend from the future owners who could convert it to equity and remove the liability rather than extending an already expensive loan facility with a different financer.

 

[RomanReigns]

Where’s these Asian’s waiting in the wings Alan Myers mentioned?

They traced the number back to the hot wok establishment

Turns out it was a prank call

 

[ForeverEverton]

I've just looked over the accounts and no, the stadium expenses are not accounted for in the operating expenses. Moshiri is out of cash he can or will access to fund the stadium and any club losses. They make a point in the accounts to state Moshiri gave a letter to the directors indicating a commitment to fund the club's losses for a period of no more than twelve months but that this wasn't a legally binding arrangement.

In those latest accounts the first 200 million or so if the stadium build is from a loan converted to equity by Moshiri.

Whatever new accounts we have will feature these new short term funding agreements for the stadium and operating costs and we will likely see interest payments ballooning in these next accounts as we never had to pay much besides what was used on the R&M facility since Moshiri didn't charge us interest and converted the debt into equity.

This very well could be a loan to service our loan repayments and cash flow issues beyond increasing our position with R&M which will be repaid in the event the takeover goes through. It makes sense to lend from the future owners who could convert it to equity and remove the liability rather than extending an already expensive loan facility with a different financer.

The stadium company has it`s own set of accounts....

EVERTON STADIUM DEVELOPMENT LIMITED overview - Find and update company information - GOV.UK

EVERTON STADIUM DEVELOPMENT LIMITED - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, charges, business activity

find-and-update.company-information.service.gov.uk

 

[mahermi1]

Where’s these Asian’s waiting in the wings Alan Myers mentioned?

In a Manchester bedsit ? It's happened before.

 

[Bazlar]

Yes I know DBB headlock didn't happen, the point is because of that, they have shown themselves to be liars so it's difficult to tell what is real and what is not concerning our finances because it's totally believable they could have ran up massive debts. But, it's equally believable it's just a made up story to get us on board with 777 being the new owners, by framing them as saviours of the club

That's not the only "untruth" we have been told either

 

[Efcjake]

The stadium company has it`s own set of accounts....

EVERTON STADIUM DEVELOPMENT LIMITED overview - Find and update company information - GOV.UK

EVERTON STADIUM DEVELOPMENT LIMITED - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, charges, business activity

find-and-update.company-information.service.gov.uk

It does but it is a subsidiary of Everton Football Club Ltd.

The money for that is coming from the club. It has so far only been reflected in the accounts as a loan converted to equity by Moshiri.

Now it will be coming from loans, new liabilities, with interest payments against Everton Football Club Ltd those will be included the operating expenses for the club but they won't be calculated for determining FFP impact which is partly why they're kept separate.

So even if the club was set to break even this year after sales and wage savings there is still around 200 million more of debt and the servicing payments to go with that.