Apparently that's what he is doing. It sounds like there's no immediate payment but payments depending on the outcome of the PL investigation, staying up and completion of the stadium.
- Status
Terrarian
Player Valuation: £50m
AKA The Esk'Financial background 'that's me convinced, do they work in the bookies?
Administration is a period of legal protection from creditors, essentially they are unable to get us declared bankrupt (and force our liquidation) whilst we are in administration and external experts (administrators) are brought in to temporarily run the business, determine whether they can get it trading sustainably and repay an acceptable amount to creditors and then sell the business as a going concern.
In some circumstances it can result in a reduction in total debt. Doesn't seem likely in our case.
Mostly, as with Wilko, it is a precursor to the end of all things.
The binman chronicles
Player Valuation: £80m
If you include the extra to complete the ground then the figure would be much higher, so I'm thinking they are talking about day to day costs and interest servicing the loans.
Remember we pay for the stadium in advance so technically worst comes to worst we pause the build and it stops becoming an issue bar from the interest we are paying out on the part we've already funded on klarna.
We're AndyC'd, right?
We've seen in the past clubs changing hands like Leeds for a £1 pound. For that the buyer gets a distressed asset with debts that needs to be managed and saved - Moshiri could do that - but hes looking for the highest return for himself. 777 are trying to get in before that punch in my opinion as if administration were to happen we would be infinitely more attractive to investment from others and their would be more competition as wed be worthless.
If he dropped his price now we suddenly would have a lot more interest and possibility of investment, its his hope of a return that might drive us into administration. We've seen before he is willing to chase his losses toward ruination.
Last edited:
No mate, they are including the payment schedule for the stadium as well. It all comes from the same source - or rather doesn't.
Martin Alvito
Player Valuation: £50m
Right, that's the only way out. If Moshiri takes less, and the remaining money (from a more qualified buyer) goes to paying off debt, nice things happen. One is that the more creditworthy borrower, with access to the UK banking system, can finance the rest of the stadium at a more attractive rate. The loan would also be better collateralized, which would help with the interest rate problem. The other would be that we would simply have less debt.
Any sale that does not result in Moshiri fully realizing his losses resulting from the fiscal mismanagement of the club will destroy the club. He is the only one that wins, if he receives an above-market price for his shares. The buyer and the club both lose.
I agree.
In the long run administration ( although catastrophic in terms of relegation) could be the best long term solution to acquiring stable and responsible future owners.
Its the only way i can see mate. Then roll up and restructure the rest of the debt into one - or when interest rates come down.
He seems determined to go down with the ship.
The binman chronicles
Player Valuation: £80m
I'm not saying it isn't. I'm saying it would go from a very real threat to an almost instantaneous reality if we needed one million per day.
If you say we need normal costs plus the interest burden for x months and in 6 months we need the remainder of 182 - the monthly costs already paid then that might be something I could believe. As it makes us assume we can run up to the point and get a sale and so on. No one is taking on a business where we use twice as much as we earn, so no one would be lending us more money as it stands. Seeing they have the business cannot be in quite as precarious state as the writer of the article states.
davek
Player Valuation: £150m
No one wants to admit this because it's a sacred cow, but that new stadium has killed us.
Still, I've been hearing stories of Everton's imminent decline since before Johnson was ousted and we're still here. I'm not for a second doubting how much trouble we're in but for Everton to be allowed to go into administration would be about the last thing a lot of people who have control or want control would want to happen.
Fans like us need to stop worrying ourselves sick and multiple threads of this nature (apologies to Andy and his anonymous contributor) don't do us any favours.
What's that saying again...
......grant me the serenity to accept the things I cannot change, Courage to change the things I can, and Wisdom to know the difference.
Still, I've been hearing stories of Everton's imminent decline since before Johnson was ousted and we're still here. I'm not for a second doubting how much trouble we're in but for Everton to be allowed to go into administration would be about the last thing a lot of people who have control or want control would want to happen.
Fans like us need to stop worrying ourselves sick and multiple threads of this nature (apologies to Andy and his anonymous contributor) don't do us any favours.
What's that saying again...
......grant me the serenity to accept the things I cannot change, Courage to change the things I can, and Wisdom to know the difference.
- Status
