Front page article - The Harsh Reality

Status
Not open for further replies.
The binman chronicles said:
You wouldn't really take out a loan until you have to either which assumes at least some of the build had been interest free or at a lower percentage than 4.
Click to expand...

You would have a term sheet that would lock in the rate for a specified period. Yes, the equity portion would need to be funded first and then the financed portion would take it to completion. It's possible the period passed or Moshiri, in a different time, decided to finance it himself.
 
blueblueskies said:
Because it’s complete guesswork and there is no evidence to back it up. Once all the facts are known it may turn out to be correct but right now I don’t think pieces like this help anybody
Click to expand...
There's a difference betweeen "guesswork and no evidence" and not publicising the evidence. The evidence may well be in the writers possession. You're right to a degree, that if there is any evidence, it should be shown. To stop any doubt. But, let's not kid ourselves and begin to believe that the club is anything but a disaster.

We're selling assets at every opportunity, cutting costs, increasing prices, silent on all rumours and silent the vast majority of the time.

If the club wanted to dispel the rumours and worry that has been talked about recently, they could very easily release a statement. They could calm fears. Instead, it's silent. There's a reason for that. Whilst the figures may or may not be true, there's no denying this club is in a mess and even worse, it's only just begun....
 
neil999 said:
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?
Click to expand...
It keeps the club out of administration, which will end 777's bid, and begins the process of loading the club up with debt so they can profit on the spread between what they borrow at and what the club repays them.

pfim said:
You have to know the terms of the deal. A real bank is not going to finance 100% of the construction cost, you may get 50-60%. There are also more stringent rules to follow.
Click to expand...
Right, it would have locked the club out of further financing using the stadium as security. The construction of a white elephant stadium (notorious for cost overruns) is not the construction of a home, and the associated risks are reflected in the LTV and the interest rate.

I still would have told the club to snap their hand off for four percent, but a lot of people made the mistake of thinking interest rates would stay low forever.
 
blueblueskies said:
The article has no basis of evidence based fact in it at all nor does it claim to be based on inside knowledge so it’s a fair assumption to call it ill informed.
Click to expand...

It isn’t ill informed just because you don’t like it and don’t want it to be true. The Athletic writers will have a damn sight more of a clue what’s going on at the club than you or me.
 
Would'nt this japanese bank have knocked moshiri back anyway coz of the war. That seems to be the percieved wisdom of why moshiris money is tied up and his ability to get credit has been stopped.
 

Tilling said:
Hindsight is a beautiful thing - this is pre-covid remember (aka its before interest rates went absolutely crazy after near three decades of global policy to keep interest rates low). It's also pre-sanction of Usmanov, so Moshiri will have been able to lean on dealings with USM to finance huge chunks of the stadium build.

There's plenty of idiotic things happening at board level at Everton - a little bit unfair to say knocking back that 4% fixed interest is one of them
Click to expand...
See your point on calling them out but these are allegedly Business with great Acumen and knowledge/experience at their disposal, many, many people foresaw this hike in interest rates just after Covid and called it out in relation to the economics globally and how it would affect countries and their people, the low interest rate phenomenon was never sustainable and was not helped pre and post covid by simply "printing money" or QE as they like to phrase it to appear of superior intellect. It is essentially a bad practice as if uncontrolled, as we have seen, it just spirals, look at Americas debt level, so my point here is that all these "clever bods" will have ssen this coming and if that offer of 4% from Japan was genuine they should 100% have taken it and the restructure of our finances would have "future proofed" us to some degree so they get no credit from me or many if they actually didnt see it coming as it was blindingly obvious.

Someone has to pay for it and its always us, as trickle down economics rarely benefits those at the bottom. They Will have known what was coming economically.

This has come out like a rant, apologies this is stressful stuff as far as the Future of Everton is concerned and i do expect our current guardians to look after it and they haven't.
 
Dixieslaces said:
See your point on calling them out but these are allegedly Business with great Acumen and knowledge/experience at their disposal, many, many people foresaw this hike in interest rates just after Covid and called it out in relation to the economics globally and how it would affect countries and their people, the low interest rate phenomenon was never sustainable and was not helped pre and post covid by simply "printing money" or QE as they like to phrase it to appear of superior intellect. It is essentially a bad practice as if uncontrolled, as we have seen, it just spirals, look at Americas debt level, so my point here is that all these "clever bods" will have ssen this coming and if that offer of 4% from Japan was genuine they should 100% have taken it and the restructure of our finances would have "future proofed" us to some degree so they get no credit from me or many if they actually didnt see it coming as it was blindingly obvious.

Someone has to pay for it and its always us, as trickle down economics rarely benefits those at the bottom. They Will have known what was coming economically.

This has come out like a rant, apologies this is stressful stuff as far as the Future of Everton is concerned and i do expect our current guardians to look after it and they haven't.
Click to expand...

All evidence to the contrary.

Again, there are no particulars in his assertion about the financing. It's tough to discern what actually happened.
 

cjuk87 said:
There's a difference betweeen "guesswork and no evidence" and not publicising the evidence. The evidence may well be in the writers possession. You're right to a degree, that if there is any evidence, it should be shown. To stop any doubt. But, let's not kid ourselves and begin to believe that the club is anything but a disaster.

We're selling assets at every opportunity, cutting costs, increasing prices, silent on all rumours and silent the vast majority of the time.

If the club wanted to dispel the rumours and worry that has been talked about recently, they could very easily release a statement. They could calm fears. Instead, it's silent. There's a reason for that. Whilst the figures may or may not be true, there's no denying this club is in a mess and even worse, it's only just begun....
Click to expand...
As I said before it could well turn out to be true but my issue is someone writing an anonymous piece that is based on guesswork.

You are right in saying it might not be but I can only assume it is as it has no reference to any actual facts. To attempt to give it some substance the writer claims to have a financial background but so have I and I don’t know nearly enough about the finances of the club to write an accurate article about it. I could write one based on complete guesswork but I really don’t see the point in that and that’s why I don’t think now is the time for what is apparently (without any evidence to the contrary) uninformed.
 
MikeH72 said:
It isn’t ill informed just because you don’t like it and don’t want it to be true. The Athletic writers will have a damn sight more of a clue what’s going on at the club than you or me.
Click to expand...
It’s ill informed because it has no evidence to support it and has nothing to do whether I like it or not. I’m sure the Athletic writers have a much better idea what’s going on than I do and I’m pretty sure more than the anonymous person that wrote the article and I haven’t seen any of them say we need an additional £1m per day in funding to survive.
 

Status
Not open for further replies.

Welcome to GrandOldTeam

Get involved. Registration is simple and free.

Register
Back
Top