Everton finances and transfer kitties......

[hibbo'sclass]

Oh wow...did we really?

The structure was identical to Leeds (from memory) and the only purpose behind it was allegedly consolidation of the overdraft of c 16m and player purchases I think.
The problem being that we had an overdraft again within a couple of years, and not much was spent on playing staff.
So short term stuff done with long term debt.
Similar to Leeds, but we didn't squander as much on awful players that got relegated.
In fairness I think our debt was manageable as long as we remained in Premier League.
As an aside, the 5 new charges at Companies House would lead me to the conclusion that ICBC are funding part (if not all) of the required stadium borrowings on top of the credit facility - that accounts for 3 of the 5.
The other 2 are intercreditor shennanigans between Barclays and ICBC, which would lead me believe that there is either a new overdraft facility with Barclays, or Barclays may be involved in the funding too.

 

[ilikecheese]

The structure was identical to Leeds (from memory) and the only purpose behind it was allegedly consolidation of the overdraft of c 16m and player purchases I think.
The problem being that we had an overdraft again within a couple of years, and not much was spent on playing staff.
So short term stuff done with long term debt.
Similar to Leeds, but we didn't squander as much on awful players that got relegated.
In fairness I think our debt was manageable as long as we remained in Premier League.
As an aside, the 5 new charges at Companies House would lead me to the conclusion that ICBC are funding part (if not all) of the required stadium borrowings on top of the credit facility - that accounts for 3 of the 5.
The other 2 are intercreditor shennanigans between Barclays and ICBC, which would lead me believe that there is either a new overdraft facility with Barclays, or Barclays may be involved in the funding too.

When was this?

IIRC Leeds was spending TV money based on them reaching the Champions League...which was the beginning of the end for them.

 

[Joey66]

When was this?

IIRC Leeds was spending TV money based on them reaching the Champions League...which was the beginning of the end for them.

Did Moshri have to pay off all our Vibrec loans abroad?

 

[hibbo'sclass]

When was this?

IIRC Leeds was spending TV money based on them reaching the Champions League...which was the beginning of the end for them.

Must admit I thought Leeds was mortgaging income streams from ticket sales - but I will stand corrected.
If it was PL money, then it was Vibrac/JG Funding/RMF territory.
If it was both, identical to EFC!!!

 

[ilikecheese]

Did Moshri have to pay off all our Vibrec loans abroad?

@hibbo'sclass

 

[ilikecheese]

Must admit I thought Leeds was mortgaging income streams from ticket sales - but I will stand corrected.
If it was PL money, then it was Vibrac/JG Funding/RMF territory.
If it was both, identical to EFC!!!

You'd have thought selling Rio for £30 mil back then would have saved them.

 

[hibbo'sclass]

Did Moshri have to pay off all our Vibrec loans abroad?

By the time Moshiri arrived,Vibrac was finished, but I suspect that exactly the same people were behind the Carroch/Kirkton/RMF money.
Moshiri (via Blue Heaven Holdings Limited) paid both RMF and Pru Trustees off with part of the 80m along with Martinez amd other compos.
May have had enough left for the cladding.

 

[Joey66]

@hibbo'sclass

Why do you always take the P?
Have you tried your yarg cheese yet ?
I had some last week it's lovely!

 

[hibbo'sclass]

You'd have thought selling Rio for £30 mil back then would have saved them.

Not a follower of Leeds finances, but weren't they paying daft money + daft wages as well?
And was that during Ridsdale's tenure?

 

[Joey66]

By the time Moshiri arrived,Vibrac was finished, but I suspect that exactly the same people were behind the Carroch/Kirkton/RMF money.
Moshiri (via Blue Heaven Holdings Limited) paid both RMF and Pru Trustees off with part of the 80m along with Martinez amd other compos.
May have had enough left for the cladding.

Hope it's safe I know we did have loans everywhere!
The banks lost patience with BK!

 

[ilikecheese]

Why do you always take the P?
Have you tried your yarg cheese yet ?
I had some last week it's lovely!

I didn't know the answer so I tagged in someone who probably did. Just trying to help.

Still have not found any Joey. Had some extra aged Gouda on toast this morning...fantastic.

 

[Duncan Disordely]

Not a follower of Leeds finances, but weren't they paying daft money + daft wages as well?
And was that during Ridsdale's tenure?

They ended up having a massive fire sale if I remember correctly. Loads of players shifted out in a short amount of time.

 

[ilikecheese]

Not a follower of Leeds finances, but weren't they paying daft money + daft wages as well?
And was that during Ridsdale's tenure?

I am just going off a couple of tidbits of memory. Yeah think it was Ridsdale...sounds right.

 

[Joey66]

I didn't know the answer so I tagged in someone who probably did. Just trying to help.

Still have not found any Joey. Had some extra aged Gouda on toast this morning...fantastic.

Oh sorry about that there's a farmshop that stocks it - that's the type of place you may get yarg cheese from its expensive , but a nice treat do not attempt to eat the encased nettle skin some people say you can, but not advisable the cheese is great delicacy

 

[ilikecheese]

They ended up having a massive fire sale if I remember correctly. Loads of players shifted out in a short amount of time.

I think that was after they were relegated from the PL. Sold Rio and Southgate to try to stabilize before relegation...at least that's what my memory says.