Foot Long Hot Dog
Player Valuation: A packet of pork scratchings
The equity value is determined by the purchaser, whatever aspirational price is put on a football club by a current owner is merely a starting point for negotiations. The buyer decides what it's worth to him, end of.And how do you calculate the equity value of a football club? How do you determine asset values and liabilities when transfer fees and wages move at rates such as those seen in this window? The sale price is determined by the seller, Mr Moshiri will certainly not be writing off the money he has invested, he will simply incorporate it into the price at which he sells the club. Now maybe we get a nation state or genuine oligarch buying us or maybe we get a Glazers/Hicks and Gillette style purchaser. You have no more idea than I do about that. On the other hand, maybe Mr Moshiri decides to keep the club and decides to take repayments on his loan? Until that debt is converted to equity it is debt. And anyone trying to claim it is not is talking, how did you put it, pure nonsense?
I never said he'd not be looking to recoup that INVESTMENT did I? Of course he would, but in order to do so he'd have had to increase the value of the club by an equivalent amount.
This Directors loan is interest free and has no repayment schedule, once he takes full control I'd expect him to convert it to equity. If he doesn't and he chooses to withdraw it you can sharpen the rocks until that point his £80m stands as an investment by him, one that was essential to facilitate the ground move due to the securitisation of the Pru loan on Goodison