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The Esk has basically laid out exactly what the club's situation is on his blog. For anyone who hasn't read it I'll try to put it in layman's terms.
777 are rejected = Chances of administration are about 90%. MSP are owed £140m and are due repayment very shortly. They just want out now and probably regret ever getting involved at all. Rights and Media Funding (Kenwright's mates) are owed £150m and it's rising. Their debt though is guaranteed, so the club possibly going bust they couldn't care less about because they'll be unaffected. Hence why they blocked MSP's proposal to takeover and restructure their deal. We also have to pay Laing O'Rourke their next installment to keep construction under way, if we fail to do this the penalties would be huge. Tragically the club generates no money except through TV money and (hypothetical) player sales. But that's just not enough to keep our heads above the water at this point. No sponsorship and or prize money to help out (thanks Putin you absolute bell).
777 are approved = A group that can't even pay the bills to keep Standard bloody Liege running day-to-day basically handcuffs us to them, their fate would be our fate. They are taking out loan after loan from dodgy US insurance companies just to stay alive in a zombie form. Staff are being laid off in droves, have got debt-recovery lawsuits coming out of their ears, their other clubs (with monthly bills far lower than us) are barely keeping the lights on. It's so bad at Standard they've already had two transfer bans because they've failed to pay fees (which are tiny by PL club standards), and unless they can pay the ex-owner what he's owed by this April then under Belgian law he can officially re-take ownership of the club from them. And to put a bow on it all, they're even being investigated in the US for fraud and racketeering. Even those investigations come to nothing, this a company with extremely bad credit that any reputable organisations surely won't want to do business with. Even their Chief Operating Officer has decided he can't be arsed anymore and has walked away.
We're in a terrible way and trauma is in our immediate future, tragically. All I want is for the club to still be around in the decades to come, so future generations at least get the choice of becoming an Evertonian or not like we all did.
The furore would be apocalyptic though. Screwing us over with P&S, then, to the untrained eye screwing us over by kiboshing the take-over (admittedly that would be for the right reason, so it's unlikely the Prem do right by us).Kind of wish the PL would just kibosh this now tbh
The Esk has basically laid out exactly what the club's situation is on his blog. For anyone who hasn't read it I'll try to put it in layman's terms.
777 are rejected = Chances of administration are about 90%. MSP are owed £140m and are due repayment very shortly. They just want out now and probably regret ever getting involved at all. Rights and Media Funding (Kenwright's mates) are owed £150m and it's rising. Their debt though is guaranteed, so the club possibly going bust they couldn't care less about because they'll be unaffected. Hence why they blocked MSP's proposal to takeover and restructure their deal. We also have to pay Laing O'Rourke their next installment to keep construction under way, if we fail to do this the penalties would be huge. Tragically the club generates no money except through TV money and (hypothetical) player sales. But that's just not enough to keep our heads above the water at this point. No sponsorship and or prize money to help out (thanks Putin you absolute bell).
777 are approved = A group that can't even pay the bills to keep Standard bloody Liege running day-to-day basically handcuffs us to them, their fate would be our fate. They are taking out loan after loan from dodgy US insurance companies just to stay alive in a zombie form. Staff are being laid off in droves, have got debt-recovery lawsuits coming out of their ears, their other clubs (with monthly bills far lower than us) are barely keeping the lights on. It's so bad at Standard they've already had two transfer bans because they've failed to pay fees (which are tiny by PL club standards), and unless they can pay the ex-owner what he's owed by this April then under Belgian law he can officially re-take ownership of the club from them. And to put a bow on it all, they're even being investigated in the US for fraud and racketeering. Even those investigations come to nothing, this a company with extremely bad credit that any reputable organisations surely won't want to do business with. Even their Chief Operating Officer has decided he can't be arsed anymore and has walked away.
We're in a terrible way and trauma is in our immediate future, tragically. All I want is for the club to still be around in the decades to come, so future generations at least get the choice of becoming an Evertonian or not like we all did.
The Esk as ever paints a bleak picture. Did he actually quantify the chances of administration as 90%? I skimmed the article (from 9th February) and did not find this. Maybe I missed it?The Esk has basically laid out exactly what the club's situation is on his blog. For anyone who hasn't read it I'll try to put it in layman's terms.
777 are rejected = Chances of administration are about 90%.
Before i blag off, Does this Esk character do a podcast with two others they sound older lads, think one of three has been ill recently?The Esk is a very dangerous fella.
For me, he's an absolute blag artist who's made his name by blagging he's an "ITK", prior to his most recent venture into financial "expert", he was a transfer "expert", who had no qualms about finance when he was claiming he had signed Witsel, Mata and Mourinho.
No one has met him, no one has seen him, I wouldn't be shocked if he's sat at home in his box room somewhere locally having a right laugh.
I give him as much credit as I'd give anyone of you here who are not claiming to he ITK.
Yes, we're a mess, but everyone knows that, but it's not right that the Esk is scaremongering people.
so basically doom and gloom, like every blog theEsk has ever written. He’s a muppet and who even takes him seriously any moreThe Esk has basically laid out exactly what the club's situation is on his blog. For anyone who hasn't read it I'll try to put it in layman's terms.
777 are rejected = Chances of administration are about 90%. MSP are owed £140m and are due repayment very shortly. They just want out now and probably regret ever getting involved at all. Rights and Media Funding (Kenwright's mates) are owed £150m and it's rising. Their debt though is guaranteed, so the club possibly going bust they couldn't care less about because they'll be unaffected. Hence why they blocked MSP's proposal to takeover and restructure their deal. We also have to pay Laing O'Rourke their next installment to keep construction under way, if we fail to do this the penalties would be huge. Tragically the club generates no money except through TV money and (hypothetical) player sales. But that's just not enough to keep our heads above the water at this point. No sponsorship and or prize money to help out (thanks Putin you absolute bell).
777 are approved = A group that can't even pay the bills to keep Standard bloody Liege running day-to-day basically handcuffs us to them, their fate would be our fate. They are taking out loan after loan from dodgy US insurance companies just to stay alive in a zombie form. Staff are being laid off in droves, have got debt-recovery lawsuits coming out of their ears, their other clubs (with monthly bills far lower than us) are barely keeping the lights on. It's so bad at Standard they've already had two transfer bans because they've failed to pay fees (which are tiny by PL club standards), and unless they can pay the ex-owner what he's owed by this April then under Belgian law he can officially re-take ownership of the club from them. And to put a bow on it all, they're even being investigated in the US for fraud and racketeering. Even those investigations come to nothing, this a company with extremely bad credit that any reputable organisations surely won't want to do business with. Even their Chief Operating Officer has decided he can't be arsed anymore and has walked away.
We're in a terrible way and trauma is in our immediate future, tragically. All I want is for the club to still be around in the decades to come, so future generations at least get the choice of becoming an Evertonian or not like we all did.
And yet, the FCA gave approval and FA approval supposedly a done deal but not announced. It does look an absolute nightmare. Just seems very odd.The Esk has basically laid out exactly what the club's situation is on his blog. For anyone who hasn't read it I'll try to put it in layman's terms.
777 are rejected = Chances of administration are about 90%. MSP are owed £140m and are due repayment very shortly. They just want out now and probably regret ever getting involved at all. Rights and Media Funding (Kenwright's mates) are owed £150m and it's rising. Their debt though is guaranteed, so the club possibly going bust they couldn't care less about because they'll be unaffected. Hence why they blocked MSP's proposal to takeover and restructure their deal. We also have to pay Laing O'Rourke their next installment to keep construction under way, if we fail to do this the penalties would be huge. Tragically the club generates no money except through TV money and (hypothetical) player sales. But that's just not enough to keep our heads above the water at this point. No sponsorship and or prize money to help out (thanks Putin you absolute bell).
777 are approved = A group that can't even pay the bills to keep Standard bloody Liege running day-to-day basically handcuffs us to them, their fate would be our fate. They are taking out loan after loan from dodgy US insurance companies just to stay alive in a zombie form. Staff are being laid off in droves, have got debt-recovery lawsuits coming out of their ears, their other clubs (with monthly bills far lower than us) are barely keeping the lights on. It's so bad at Standard they've already had two transfer bans because they've failed to pay fees (which are tiny by PL club standards), and unless they can pay the ex-owner what he's owed by this April then under Belgian law he can officially re-take ownership of the club from them. And to put a bow on it all, they're even being investigated in the US for fraud and racketeering. Even those investigations come to nothing, this a company with extremely bad credit that any reputable organisations surely won't want to do business with. Even their Chief Operating Officer has decided he can't be arsed anymore and has walked away.
We're in a terrible way and trauma is in our immediate future, tragically. All I want is for the club to still be around in the decades to come, so future generations at least get the choice of becoming an Evertonian or not like we all did.
He was on a twitter space a Couple of years ago, when we looked like going down under Lampard and didn’t even get the parachute % payments correct and it’s easy to find the percentages. A guy on the space tried to put him right but wouldn’t listen. Of course the figure he was quoting was a lot worse than the actual figure.The Esk is a very dangerous fella.
For me, he's an absolute blag artist who's made his name by blagging he's an "ITK", prior to his most recent venture into financial "expert", he was a transfer "expert", who had no qualms about finance when he was claiming he had signed Witsel, Mata and Mourinho.
No one has met him, no one has seen him, I wouldn't be shocked if he's sat at home in his box room somewhere locally having a right laugh.
I give him as much credit as I'd give anyone of you here who are not claiming to he ITK.
Yes, we're a mess, but everyone knows that, but it's not right that the Esk is scaremongering people.
Absolutely notPoints deduction apart, would it have been better to go into administration? There's bound to be someone here who knows the problem scenarios.