777 Partners / Whatever the hell you like

[pfim]

You'd like to think that the club would be a lot more careful about allocating loans specifically to the stadium so that the interest doesn't count for FFP. Although obviously that changes nothing from a financial health perspective.

You'd hope, but as you say, who knows with Farhad Moshiri, International Accountant of Mystery.

 

[Blue Willy]

Onana money, once Liege get their shar, will pay for Chermiti and Beto. Branthwaite money will be used to renew the contracts of those we want to keep. Therefore we'll be without 2 of our best players and no better off.

If we sold.

Onana money would be 50-70 mil? After any cut we would still have a fair chunk left.

No need for Chemiti and Beto money, thats on the drip over w few more years

If we sold Branthwaite that would been for a huge amount. Like 75mil.

Weve trimmed a fair bit and so renewing contracts is pretty sustainable now.

The new stadium will bring us a touch more cash income too. Slowly but surely.

Not sure what calculator you are using, or why you are scaremongering so much.

 

[Curtis]

According to the athletic , 777 is about to lose its main source of funding , from A-cap an insurance company , so that just heaps more doubt on already increasingly unlikely deal

 

[pfim]

According to the athletic , 777 is about to lose its main source of funding , from A-cap an insurance company , so that just heaps more doubt on already increasingly unlikely deal

Too many designer baseball caps.

 

[Curtis]

Too many designer baseball caps.

And axe body spray too I'm sure

 

[Tony’s Carp]

If we sold.

Onana money would be 50-70 mil? After any cut we would still have a fair chunk left.

No need for Chemiti and Beto money, thats on the drip over w few more years

If we sold Branthwaite that would been for a huge amount. Like 75mil.

Weve trimmed a fair bit and so renewing contracts is pretty sustainable now.

The new stadium will bring us a touch more cash income too. Slowly but surely.

Not sure what calculator you are using, or why you are scaremongering so much.

But don't forget Ashley Young's new 1.4m / week contract extension.

 

[Simon Buttle]

The Athletic saying there is no backup bidder unless all the creditors agree to large discounts on money owed, what a mess we are in.

 

[efcfanwirral]

You'd like to think that the club would be a lot more careful about allocating loans specifically to the stadium so that the interest doesn't count for FFP. Although obviously that changes nothing from a financial health perspective.

Mad thing is, these "sustainability" rules allowing us to go into that amount of debt for the stadium makes a mockery of the name of the rules also. Accounting technicalities can get you "compliant" while being completely up to our eyeballs in debt.

If they were serious on "sustainability", it would take into account all money going in and out of the club. At this moment, Everton are not sustainable, not even close. With what we know about the perilous state of the finances and all these crazy loans, we should in theory breach PSR for this season too. The fact that we might not just makes the rules and their supposed aims laughable

 

[efcfanwirral]

The Athletic saying there is no backup bidder unless all the creditors agree to large discounts on money owed, what a mess we are in.

Administration would mean they get even less, and aren't in control of the amount, so could happen

 

[Moderatelywarmwater]

Keep seeing huge amounts of interest being mentioned, but the reality is that if that was the rate, we will fail FFP again. The P&L simply doesnt have the room to fund that.

If 777 believe they will pass the O&D tests, then it would be counter productive to do that.

No, I don’t think we would. Stadium expenditure is ok for FFP generally
Going bankrupt is far more of an issue now

 

[pfim]

In all seriousness, this has to be the end of the line for these guys.

As stated earlier, this is what happens when an insurance company (or reinsurance in this instance) is downgraded.

Its customers (A Cap) flee the insurance company because they're not certain they would be repaid in the event of claims.

In this case, it starts to affect A Cap's ratings and solvency.

These guys are cowboys taking those premiums and investing them in high risk, low cash investments like football clubs in inferior leagues.

 

[Tony’s Carp]

The Athletic saying there is no backup bidder unless all the creditors agree to large discounts on money owed, what a mess we are in.

Backup bidders would say that though wouldn't they.

 

[micknick]

Amazed this hasnt happened already.

 

[Ruairi77]

The Athletic saying there is no backup bidder unless all the creditors agree to large discounts on money owed, what a mess we are in.

so there is a back up bidder?

 

[Tony’s Carp]

Mad thing is, these "sustainability" rules allowing us to go into that amount of debt for the stadium makes a mockery of the name of the rules also. Accounting technicalities can get you "compliant" while being completely up to our eyeballs in debt.

If they were serious on "sustainability", it would take into account all money going in and out of the club. At this moment, Everton are not sustainable, not even close. With what we know about the perilous state of the finances and all these crazy loans, we should in theory breach PSR for this season too. The fact that we might not just makes the rules and their supposed aims laughable

There's a big difference though between stadium debt and general operational debt I think. One is at least attached to the development of a significant asset, the other is just money borrowed going straight out the door. That's why infrastructure spending is excluded because this is investment in assets.

It's like the difference between a mortgage and credit card debt. You can be 200k in debt on your mortgage and absolutely fine because you own a corresponding asset, but you could be 20k in debt on your credit card and massively in trouble.