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New Everton Stadium

Last accounts

Gross debt is £49m
Cash in Bank is £20.9
Net debt is £28.1m

Problem is that if you then spend the cash in bank on transfers like Lukaku, then you haven't paid off your gross debt and it remains in place.
 
I think I got confused, because the last lot of results said we had a debt of £28.1m and a profit of £28.2m. But these figures dont include the what we spent in the summer to sign Lukaku, Barry and to extend Barkley's, Coleman and Stones contracts, so we will probably be about £35m to £40m in debt again, but we wont know that until the next set of accounts, in October.

http://www.bbc.co.uk/sport/0/football/29843746
 
OneTrueLegend said:
I think I got confused, because the last lot of results said we had a debt of £28.1m and a profit of £28.2m. But these figures dont include the what we spent in the summer to sign Lukaku, Barry and to extend Barkley's, Coleman and Stones contracts, so we will probably be about £35m to £40m in debt again, but we wont know that until the next set of accounts, in October.

http://www.bbc.co.uk/sport/0/football/29843746
Click to expand...

The long term debt should be just over £22m. The short term debt largely depends on whether they took out the cash flow yearly cover that they usually take (normally referred to as the Vibrac loan) and could vary from £10m to £30m. So gross debt could be anywhere from £32 to £52m. No idea what cash in the bank is likely to be this year but without a major sale, I'd estimate that it will be under £10m. Purely a guess, but I think the next net debt figure will be somewhere between £40m and £45m
 

Reidy's Bottle Of Grecian said:
Is it built yet ?
Click to expand...

YESSSSSSSS
images
 

Visitor22 said:
Last accounts

Gross debt is £49m
Cash in Bank is £20.9
Net debt is £28.1m

Problem is that if you then spend the cash in bank on transfers like Lukaku, then you haven't paid off your gross debt and it remains in place.
Click to expand...

That is very misleading though to say that overall debt has increased to 49 million, what your doing is presuming that the liquidity is spent on Lukaku and other transfers. We dont know how those deals are structured. Yes the gross debt might be 49 mill, but given our signings im surprised its that small, but the net debt might be a variation of the 29.1 mill depending on how the deals our structured, i think its a bit melodramatic to say debt has increased gross debt is 50 odd million. Safe to say our debt situation has improved drastically given 20 odd millions is the prudential deal and cant be paid down.
 
Neiler said:
That is very misleading though to say that overall debt has increased to 49 million, what your doing is presuming that the liquidity is spent on Lukaku and other transfers. We dont know how those deals are structured. Yes the gross debt might be 49 mill, but given our signings im surprised its that small, but the net debt might be a variation of the 29.1 mill depending on how the deals our structured, i think its a bit melodramatic to say debt has increased gross debt is 50 odd million. Safe to say our debt situation has improved drastically given 20 odd millions is the prudential deal and cant be paid down.
Click to expand...

Agree to an extent (see my later post when I try to guess what will be in the next accounts - and it is a guess!!). However from previous accounts showing a pattern of how the current board operates and some knowledge of the structure of the debt, you can be reasonably certain that the cash in the bank has not been used to pay off existing debt in any great meaningful way. People who believe that Everton are practically debt-free are likely to be misguided
 

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