To be fair I agree that the risk is low. But with Elstone involved that's hardly surprising as he probably wouldn't risk it without a coat in 40 degree heat the clown .
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To be fair I agree that the risk is low. But with Elstone involved that's hardly surprising as he probably wouldn't risk it without a coat in 40 degree heat the clown .
roydo
in memoriam - 1965-2024
Like Elstone could have facilitated this.
davek
Player Valuation: £150m
"It looks like perfect sense to me...". It might look like "perfect sense" to you now but this is for 40 years.
Anyone cutting a deal that hands over control of Everton Football Club to outsiders for a couple of generations on the say so of a feller no one had heard of here this time last year just aren't being rational.
Stop dreaming of state of the art stadiums and focus on the future of Everton...and by future I dont mean next season or three or four seasons time when a stadium may be here.
The miserable git will be involved and his influence would rub off on the jollyiest of souls.
The binman chronicles
Player Valuation: £80m
This is my last attempt at explaining, my mortgage is 6 times my annual income, the monthly repayments take up 38% of my income.
Everton's mortgage would be 2.9 times income. (From last years accounts) You have to say this is largely an untapped source that has had no real effort to increase it yet, already from the new deals we've struck that might come down to 2 times income by next year. The monthly payments would be 14% of income if it was a 350 million pound stadium paying back 17 million annually. (including council fee)
That's not counting naming rights, extra ticket sales, the sponsorship boost of having a iconic stadium on the waterfront. Taking back control of our shirt sales etc. from kitbag, not to mention inflation rising the cost of tickets/merchandise over the years to come.
That figure could well be 8.5 percent of income on a brand new stadium within a few years. Or put another way almost what we were paying out in interest payments for historical player trading screw ups/general accountancy failures when we were turning over around the 80 million mark.
8% of turnover for a nice new stadium exactly where we want it to be, don't you think that is affordable? Take quite a doomsday scenario to get to the point that we can't end up meeting the payments if you ask me.
The beauty of paying for it on the drip like this is that the naming rights income can be used for anything, it's not like the Arsenal model where we have to have a fire sale to pay back the bank as much as money possible else you are left with crippling interest being accumulated.
Everton's mortgage would be 2.9 times income. (From last years accounts) You have to say this is largely an untapped source that has had no real effort to increase it yet, already from the new deals we've struck that might come down to 2 times income by next year. The monthly payments would be 14% of income if it was a 350 million pound stadium paying back 17 million annually. (including council fee)
That's not counting naming rights, extra ticket sales, the sponsorship boost of having a iconic stadium on the waterfront. Taking back control of our shirt sales etc. from kitbag, not to mention inflation rising the cost of tickets/merchandise over the years to come.
That figure could well be 8.5 percent of income on a brand new stadium within a few years. Or put another way almost what we were paying out in interest payments for historical player trading screw ups/general accountancy failures when we were turning over around the 80 million mark.
8% of turnover for a nice new stadium exactly where we want it to be, don't you think that is affordable? Take quite a doomsday scenario to get to the point that we can't end up meeting the payments if you ask me.
The beauty of paying for it on the drip like this is that the naming rights income can be used for anything, it's not like the Arsenal model where we have to have a fire sale to pay back the bank as much as money possible else you are left with crippling interest being accumulated.
davek
Player Valuation: £150m
It looks flaky as anything to me.
Honest to God, I opened that LCC document last Thursday and it was a horror story. At least we cant ever accuse Anderson of not telling us the gory details up front.
We are not handing then over though for generations to come are we? Yet again you are just doom mongering for the sake of your own agenda and using bits of information to slate him.
Have you read the document? In it's entirety?? They only have control of the finances and can dip into them IF and it's a big IF we don't have the money to pay it... which is something totally unlikely to happen.
Are you this way with the mortgage on your house? Or did you get someone else to pay for it for you.. .
Sapie88
Hi @Donald Twain
You're alright calling people idiots though so don't all of a sudden take some moral stance.
roydo
in memoriam - 1965-2024
How does that happen then?
Unless I have missed something, we will have a lease/mortgage in all reality. We pay that off, and then own BM. In the meantime, as long as we pay the cash each year/dont go bust, we run the club as a private company. Like we have forever.
And as a handy aside, we can generate tons more income and stuff from a brilliant ground making ^^^ less likely than currently.
davek
Player Valuation: £150m
They have control: they pay themselves and funders and then they hand the remainder to EFC.
I think it's you that needs to pay attention, tbh.
roydo
in memoriam - 1965-2024
Why? The bit about LCC having first dibs on stuff if it all goes tits up?
Read your mortgage small print. Pretty much the same thing.
No they dont have control... read the document.. . We pay money into an account and they take the rent from that.. you know.. like a normal bank account works. They only have control of the money if and when we run out of money so that they can paid first before anything else.
ianefc
Player Valuation: £70m
I'd just get used to it, if I were you. It's happening.