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So if all that is true you'd imagine Moshri is getting a hand down all his settee's to make sure they get paid off before this happens?
Ferguson1878
Player Valuation: £35m
Offering himself a straightenerThread derailed by @matty1878 so much so that hes got @Rich1878 replying to himself.
quality work Matty.
I can understand wanting us to own the stadium on an emotional level but if the economics stack up I have no strong feelings about it either way- it would be nice if the club owned the stadium but look at who owns the club now and potentially in the future - I don't really care if Farhad Moshiri owns the stadium, if 777 own the stadium, or if some third party owns the stadium. It will be Everton's stadium, it can't be anything else, and ultimately it will be what the fans and the players make it.
it would all come down to the terms but if we are being crippled by interest and sale and leaseback allowed us to finally bin off R&M and all the other vultures maybe that's better, I don't know. Either path, be it heavy debt repayments or paying rent will eat into the revenue so I guess it's just a case of how much for how long, barring some knight it's just about less bad options at the moment and priority one is keeping the club going.
Also worth remembering, on the positive side, that if the PL moves to the proposed revenue v squad cost model for PSR we'll still reap all the benefits either way, because the increased revenue would be all that would count. As far as I can see outgoings, whether that's debt repayment or rent on the ground would not matter as we'd be away from a P&L based model.
wainy
Player Valuation: £35m
Well this is all thoroughly depressing. Question is moshiri and 777 have known about this loan so why wait until now to start asking for extensions on the payment. Everyone connected in the running of this club for the past 35 years has been an utter clown, it’s all coming home to roost now.
I could agree with that apart from the fact the suffering the club has endured for the entire period since the plans and build started. It's split the club and fanbase and made us worse for it both off and on the pitch. To not own it outright after the sacrifices and pain would be unacceptable and quite honestly not worth it. No sentimental gush either just plain fact as I feel mate. The owners will be in debt when it's finished and we'll be tenants, bodes well for us, Not.
The inescapable reality for Everton’s Directors
Directors of limited companies have a number of duties, their primary duty of course, being to look after the interests of the shareholders (members) through the wellbeing (promote the success of) …
theesk.org
If you want depressing, read that.
Esk sees nothing else but Administration on our horizon.
wainy
Player Valuation: £35m
Hard to disagree with him. 3 seperate entities all with their own agendas but one important thing in common, none of them have the funds to get us out of this mess. No doubt the club will hold on (hopefully) until the season has ended before this happens.The inescapable reality for Everton’s Directors
Directors of limited companies have a number of duties, their primary duty of course, being to look after the interests of the shareholders (members) through the wellbeing (promote the success of) …
If you want depressing, read that.
Esk sees nothing else but Administration on our horizon.
@Dixieslaces @ saying rich replying to himself lol lol
Timinenfield
Player Valuation: £225k
Not with those fake stamps I hope
hallamblue
Player Valuation: £40m
We're not going bust yet. History tells us that if we stay up this year, then we sell Pickford, Branthwaite and Onana and replace them with free transfers. Then we got relegated, then we go bust.
pfim
Player Valuation: £40m
The inescapable reality for Everton’s Directors
Directors of limited companies have a number of duties, their primary duty of course, being to look after the interests of the shareholders (members) through the wellbeing (promote the success of) …
If you want depressing, read that.
Esk sees nothing else but Administration on our horizon.
Oh brother.
The board will act in the best interests of the man who appointed them. If they don't, they'll be replaced. It's as simple as that, "duties" and "responsibilities" are irrelevant, practically.
This is a very long winded way of saying:
EFC is not insolvent until they can no longer meet their obligations. The first of those is MSP, who could call their loan due, give an extension or take over the stadium and/or the club.
The 2nd is working capital (payroll etc). We need about 8 weeks of working capital to get us through to the next transfer window when we can turn assets into cash.
The 3rd is the builder, I don't think anyone has knowledge of timing of payments
The 4th is a question mark, if 777 don't take over I don't know the terms of their debt. This is less urgent as their rights to repayment are mitigated by their lack of security against the clubs assets: if they try and force repayment, it won't happen. If that sets of Admin, they still aren't likely to see a dime. They've put themselves in a very tough spot.
If we are relegated, all bets are off. RMF could call their loans due (remember their debt is secured by PL revenues) etc.
This and i think its ok to take pride in owning our own home and being masters of how its used as an asset. If we needed a loan in the future what are we using as security - god knows we have mortgaged everything at Goodison.
However - the key thing is the revenue, we're giving away 100 years of potential revenue streams - regardless of what match day terms we come to (if any).
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