Onwards Evertonians
Player Valuation: £8m
They've already agreed the spv a while back so surely if this didn't go through then they'd revert back to that.
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RobSpurs
Player Valuation: £2.5m
But if this plan is superior why does it feel like a Plan B? Surely it would've been the Plan A if it had more advantages and no more risk.
More money, fine. Good reason. I'm not convinced there's less risk in actually lending the money, however.
I still think it's odd that the change has happened.
Weirdly, at face value, it points to one of two extremes - either the club is doing such a bad job getting Plan A to work they've asked for a council loan in desperation, or they're doing such a good job that the council have asked to take on more risk to get more reward from the scheme. So....I guess the question surely is, who initiated this change?
Hickson9
Player Valuation: £30m
Going off Joe's tweets, the Council initiated the change having decided the reward was worth it.
The binman chronicles
Player Valuation: £80m
Whether you have ownership of the loan or you are a guarantor the exact same risk applies.
You have a point between plan A and plan B though, if we were going to borrow using the council as a backer before and then pay 4 million, how is it a better deal if we now need to pay 7 million? Could the interest rates change that much when they are in theory both council accessed loans? Or perhaps the lender won't accept the us as the principle borrowers and it has to be in the councils name to get access to lower rates forcing the change in tack.
HongKongToffee
Player Valuation: £6m
Terrible news if it's true.
GwladysBlue
Player Valuation: £70m
Where is this from?
rylojr
Player Valuation: £8m
Yes.... Heartbreaking, isn't it?
Achilles Heel
Player Valuation: £950k
Always going to get some heat this...just a case of answering all the wrong questions with all the right answers especially from those bitter Reds at pokey Analfield.
If I could borrow £10k, repay £11k but then loan it to somebody else for £15k, making me £4k, I would do it in a heartbeat. Joe would have taken advice that he was on a sure footing before going public with this. He knew what was coming his way so I cannot see a few bitters or ill-informed members of the public derailing the plan. He's used to that sort of flak. It's not just the income, its the whole North Docks acceleration programme at stake here - to the benefit of the whole city.
If I could borrow £10k, repay £11k but then loan it to somebody else for £15k, making me £4k, I would do it in a heartbeat. Joe would have taken advice that he was on a sure footing before going public with this. He knew what was coming his way so I cannot see a few bitters or ill-informed members of the public derailing the plan. He's used to that sort of flak. It's not just the income, its the whole North Docks acceleration programme at stake here - to the benefit of the whole city.
EFC78
Player Valuation: £25m
Is that part not because it's gone from paying it off over 40 years as opposed to the 25 years it's now changed to?
EFC78
Player Valuation: £25m
Exactly this. @RobSpurs - as @The binman chronicles has mentioned, the risk is the same.
I think some either don't understand what their role as Guarantor was or are getting confused somehow.
"A guarantor is a person who guarantees to pay for someone else's debt if he or she should default on a loan obligation. A guarantor acts as a co-signer of sorts, in that they pledge their own assets or services if a situation arises in which the original debtor cannot perform their obligations."
The Council was always at 'risk' as Guarantor as they are now in the event that complete catastrophe hits Everton Football Club where we get relegated for the first time in 63+ years, the TV companies decide they no longer have interest in Football, and we have no players that are worth any money.
The binman chronicles
Player Valuation: £80m
Apparently this is the part the council scoops off us so repaying the loan quicker should in theory create a smaller payment as you are not exposing them to a longer period of risk.
EFC78
Player Valuation: £25m
Where is the Esk when we need him...
Thetigerblue
Player Valuation: £5m
Ah but if they had bought Everton instead of City, imagine the sheer anger on here at where the money had come from.
And if we'd been given a stadium, some GOT people would never go to any games, in protest at public money being spent.
Let's not even go into shirt sponsorships...
For those few, Football and Everton must be pure, divorced from the world. Don't ever know a time when that's happened before but plainly it's the only acceptable state.
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A member who shall remain nameless. There’s a lot of pulling and pushing going on, this still needs to go through due diligence before being presented for approval.
Don’t know how long the report will be because they haven’t received any firm proposals from lenders yet