You'd have to question the terms of the deal if default is even a remote possibility.
Just like a mortgage on a house i'd imagine they would be able to repossess. The land value would be quite something if the rest of Liverpool Waters is up by then. I guess Moshiri can act like a guarantor for Everton anyhow.
Plus like anything, in 10 years time they would have got that 350 million down to 250 million, (& thats if we don't put an initial payment on it, you would like to think they could front up 50 to 100 million) at that point they could remortgage for lower payments over a longer term.