New Everton Stadium

[Stuartisitc1878]

But they as an authority would be borrowing it and leaving themselves open to likely interest rise payments on it. They'd have to pass that onto the club and therefore increase our debt. That's all besides being politically ridiculous to try and sell. It's no-go now. All parties have to recognise that.

Great idea, great location, but poor execution of a plan because Moshiri wanted the public sector to take the hit and get a free ride...as all business people do.

just out of interest Dave, is there anything you find positive about Everton at this moment in time?

 

[Lee Smith]

But they as an authority would be borrowing it and leaving themselves open to likely interest rise payments on it. They'd have to pass that onto the club and therefore increase our debt. That's all besides being politically ridiculous to try and sell. It's no-go now. All parties have to recognise that.

Great idea, great location, but poor execution of a plan because Moshiri wanted the public sector to take the hit and get a free ride...as all business people do.

But that is no different at all to the original SVP model. If we had gone the SVP route and borrowed privately and interest rates rose, then EFC would be liable to increased payments anyway. But anyway I would assume that any rates would be 'fixed' in at least some way.

I also don't agree that it's 'politically ridiculous to try and sell' either. I am sure there would be a lot of support for this, as it offers LCC much needed additional annual revenue at a time when government funding is on the decline, for what will likely be viewed as a minimal risk.

 

[Lee Smith]

Dont get why theres a change in tack from LCC or indeed Everton.
Cant see it being more benefit to either from the previous plans.

As I said earlier, by cutting out the middle man of a private lender, it will mean increased revenue to LCC (for no additional risk compared to the SVP model), and reduced expenditure for EFC through probable lower interest rates

 

[davek]

just out of interest Dave, is there anything you find positive about Everton at this moment in time?

We have good young talent coming through. I we can find an appropriate manager to bring them on to be top players we can build again from this rubble..

 

[davek]

But that is no different at all to the original SVP model. If we had gone the SVP route and borrowed privately and interest rates rose, then EFC would be liable to increased payments anyway. But anyway I would assume that any rates would be 'fixed' in at least some way.

I also don't agree that it's 'politically ridiculous to try and sell' either. I am sure there would be a lot of support for this, as it offers LCC much needed additional annual revenue at a time when government funding is on the decline, for what will likely be viewed as a minimal risk.

If it were no different mate it wouldn't be changed. There's been a debate with LCC and EFC and one party has impressed upon the other that they need to shift more of the risk onto them. That's the reality here.

I cant see LCC cabinet allowing this one through.

Overall it looks and feels like constructive dismissal of this plan by two parties who know it's beyond them now in this climate.

 

[DanB90]

Still think this will happen purely because the city will want this waterfront project kickstarted.

 

[ultra]

10 for me. Free money for LCC, low interest loans for EFC: what's not to like?

 

[blulouie]

if USM were to be involved then they already would be. why the need for a statement from Elstone last night saying that they 'hope' to secure funding.

he could have said we are very confident, esp if USM are involved.

Just my guess as I've previously posted , there must be a "trigger" for this extra funding.It could be depending on planning permission.
Only my opinion but I think a lot depends on it and things will move at a pace from then.

 

[Lee Smith]

If it were no different mate it wouldn't be changed. There's been a debate with LCC and EFC and one party has impressed upon the other that they need to shift more of the risk onto them. That's thew reality here.

I cant see LCC cabinet allowing this one through.

Overall it looks and feels like constructive dismissal of this plan by two parties who know it's beyond them now in this climate.

There is no difference in risk to either party from what I can see (which is what I was trying to imply in my previous post), but there are benefits in the change of model. I'm repeating myself a bit here but it would mean increased revenue for LCC and lower interest payments for EFC. What have you got against that?

 

[Frang]

I'm still waiting for @AndyC to tell us what he had seen or heard regards the stadium project! not wumming, as i genuinely think he had some credible info .

 

[Stephenlloyd]

That probably covers half the funding gap. He still needs to find 80 odd million I reckon. But if they don't find that the capacity will be lowered and they will build regardless.

I don’t much about the financial side of football, but listening to the business matters podcast. They mentioned a rights issue, which could raise £300 million.

 

[Frang]

Just my guess as I've previously posted , there must be a "trigger" for this extra funding.It could be depending on planning permission.
Only my opinion but I think a lot depends on it and things will move at a pace from then.

i think we need complete funding in place before going all out for a costly full planning proposition.

 

[blulouie]

just out of interest Dave, is there anything you find positive about Everton at this moment in time?

Whisper it quietly he has a crush on Big Sam.

 

[blulouie]

i think we need complete funding in place before going all out for a costly full planning proposition.

Crucial.

 

[davek]

There is no difference in risk to either party from what I can see (which is what I was trying to imply in my previous post), but there are benefits in the change of model. I'm repeating myself a bit here but it would mean increased revenue for LCC and lower interest payments for EFC. What have you got against that?

I doubt very much that exposing the authority at first hand to hundreds of millions of pounds of loans is only as onerous as setting up a SPV to facilitate investment from the private sector. If it was the same risk why wasn't this done before hand? The private sector have not backed the old model seeing it as risky, so LCC are putting their neck out further here....and no doubt the club will pay more for that to it.

It;s all fraught with too much risk for all parties.

Just pull the plug and end this now.