Front page article - The Harsh Reality

[neil999]

So 777 have given has a 20 mill loan which apparently will only cover us for 3 weeks,but takeover could take months...so what's the point in the 20 mill loan?

 

[davies1878]

I cant believe we managed to spend money this summer, probably should have tried to sell Pickford and Onana of your existence is up in the air.

 

[BlueStevie35]

Ukraine war did for us.

"Events, dear boy, events"

We"ll end up renting BMD or playing home games at Bolton.

The latter day Coventry City FC.

Why would we go to Bolton to play games? If the stadium fell through we’d cancel the legacy plan and stay at Goodison

 

[hallamblue]

So 777 have given has a 20 mill loan which apparently will only cover us for 3 weeks,but takeover could take months...so what's the point in the 20 mill loan?

Where does it say it only covers us for 3 weeks?

 

[BlueStevie35]

I cant believe we managed to spend money this summer, probably should have tried to sell Pickford and Onana of your existence is up in the air.

We didn’t, we kicked the can down the road on two transfers

 

[neil999]

Where does it say it only covers us for 3 weeks?

Well we 'apparently' according to this article need 1 mill a day

 

[Lob]

People fixated with having a go at The Esk when it doesn't matter who wrote it or whether the figures are accurate. It is plain to see that the business i.e club has been failing catastrophically for quite some time and is currently showing all of the signs of being very close to going into administration. Every single aspect of it is in disarray.

 

[ChrisPW75]

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.

I think its much worse than that. If we go into administration, then we have the points deduction, but we still owe the debts. We are only allowed out of administration if the creditors (such as the clubs we owe transfers fees to, the stadium builders, the staff) agree to wave their debts/accept a reduced amount. If they don't, then we go into liquidation. If that happens, we disappear as a club.

Usually at the admin stage there are real efforts to sell the business and football being football, this is where we will get a new buyer. Generally speaking only football clubs in distressed get bought.

The concern about this for me, is someone being interested whilst having the stadium debt. I keep reading that its only the last 250m that needs paying, however thats very unlikely. We will have loaned the money for the build so far, so we will still have that debt and we will still have to service that debt plus the future costs of the build. Therefore any new buyer in the admin phase will have to agree to pay those debts to our creditors, otherwise they wont agree that we can come out of administration, then its liquidation.

 

[hallamblue]

Well we 'apparently' according to this article need 1 mill a day

Written by somebody who doesn't know anything about the finances of the club.

 

[The binman chronicles]

No mate, they are including the payment schedule for the stadium as well. It all comes from the same source - or rather doesn't.

Our normal costs are running deep into 100-200 million range a year even if they've jettisoned a load of staff to offset this, add the stadium cost like you say 250 and we are already pushing 400 million before you add the massive interest payments that are now being accrued.

 

[Tigger]

Knew we were in trouble when our preseason was a tour of the north west, obviously couldnt afford a holiday.

 

[Shibbywiggles]

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 don't do us any favours.

100%

 

[Terrarian]

People fixated with having a go at The Esk when it doesn't matter who wrote it or whether the figures are accurate. It is plain to see that the business i.e club has been failing catastrophically for quite some time and is currently showing all of the signs of being very close to going into administration. Every single aspect of it is in disarray.

There's only me mentioned the Esk so far and it was a bit tongue in cheek so get off your soapbox

 

[Bruce Wayne]

I don't really get the financials of the new stadium. This may have changed but it was originally spoken of as something that might generate an extra £10 million or so in revenue. So if the stadium is set to cost £750 million, that's a bloody long time to pay that investment back. You'd get a better return sticking the money in the bank.

 

[PKwalnuts]

...but when will the fruit be back in the Liver Building Everton offices??