New Everton Stadium

[Dixieslaces]

Nice sunny Sunday afternoon update

Wow, so much done since last week, coming on at a fair lick this, Screw You Guardian!!

Superb work, as always Noggsy, and the Royal Blue Mersey, really is Royal Blue!!

Bloody Love it

 

[Tom Hughes]

Folks in here need to give their heads a wobble, of course it will be completed and Morshiri’s said that he can pay for it himself if needed.

If he want to sell Everton then completing it is a pre-requisite so yes it will be completed.

Everton are way to far down the track no to, basically we’re way past the point of no return

He may well be able to pay for it all, but that's not really the issue.... that was never his original intention, and may greatly affect his ability to recoup his investment in any sale.

The financial model was built on the owner paying for the planning, stadium design, site acquisition, prep and intial construction phases only, with the club securing a loan for the rest, supported by a naming rights deal to balance/offset that debt from USM.

Since then, the cost may have increased by 50%, the naming rights sponsor has been sanctioned and no loan has been secured. He is having to pay for the lot and our finances are under the scrutiny of an independent commision while we are hamstrung in the transfer market, in a relegation battle for the 2nd season running!

So lots of things are being severely "wobbled" in the whole process.

 

[Toffeeslam]

He may well be able to pay for it all, but that's not really the issue.... that was never his original intention, and may greatly affect his ability to recoup his investment in any sale.

The financial model was built on the owner paying for the planning, stadium design, site acquisition, prep and intial construction phases only, with the club securing a loan for the rest, supported by a naming rights deal to balance/offset that debt from USM.

Since then, the cost may have increased by 50%, the naming rights sponsor has been sanctioned and no loan has been secured. He is having to pay for the lot and our finances are under the scrutiny of an independent commision while we are hamstrung in the transfer market, in a relegation battle for the 2nd season running!

So lots of things are being severely "wobbled" in the whole process.

Tom bottom line

Will this stadium get built or not ?

I think I can say resoundingly yes the rest the billionaire can sort out as it’s in his interest and Everton is his asset

 

[Tom Hughes]

Tom bottom line

Will this stadium get built or not ?

I think I can say resoundingly yes the rest the billionaire can sort out as it’s in his interest and Everton is his asset

Actually, our "bottom line" is a financial basketcase that is currently being scrutinised by an independent commission.

The whole club is his asset.... and it is not looking particularly well "sorted" at the moment, regardless of his billionaire status. The financial model for the stadium has fallen apart and descended into "bank of daddy", with cap in hand to potential investors who seem to be conspicuous by their absence.

We've been making substantial losses with even our stand-in auditors questioning our sustainability as a "going concern".

That's before we even consider how, where and when the stadium debt eventually comes to rest..... on our owner, new owner or club.

It's never been about if or not the owner can build it.... but about if the club can sustain any resultant debt going forward.

 

[The binman chronicles]

He may well be able to pay for it all, but that's not really the issue.... that was never his original intention, and may greatly affect his ability to recoup his investment in any sale.

The financial model was built on the owner paying for the planning, stadium design, site acquisition, prep and intial construction phases only, with the club securing a loan for the rest, supported by a naming rights deal to balance/offset that debt from USM.

Since then, the cost may have increased by 50%, the naming rights sponsor has been sanctioned and no loan has been secured. He is having to pay for the lot and our finances are under the scrutiny of an independent commision while we are hamstrung in the transfer market, in a relegation battle for the 2nd season running!

So lots of things are being severely "wobbled" in the whole process.

The USM money was effectively his (well Usmanov’s) anyhow. So by not paying out to the club the only thing we lose is the ability to help with profit and loss to meet the PL regulations.

 

[Tom Hughes]

The USM money was effectively his (well Usmanov’s) anyhow. So by not paying out to the club the only thing we lose is the ability to help with profit and loss to meet the PL regulations.

USM were also the naming rights partner. A major element of the stadium's financial model. They were prepared to sponsor fresh air to help balance the books. As shown when they paid £30m just for first dibs on that. That funding source is gone and we're under a microscope because of our failure to post any operational profits despite those funds previously.

 

[The binman chronicles]

USM were also the naming rights partner. A major element of the stadium's financial model. They were prepared to sponsor fresh air to help balance the books. As shown when they paid £30m just for first dibs on that. That funding source is gone and we're under a microscope because of our failure to post any operational profits despite those funds previously.

How is it gone? The owners instead of paying out officially to the club just square that off internally.

As you say they were paying for fresh air, it's not like USM miss out on brand awareness through it not being named that.

 

[Tom Hughes]

How is it gone? The owners instead of paying out officially to the club just square that off internally.

As you say they were paying for fresh air, it's not like USM miss out on brand awareness through it not being named that.

How do you square off £500-750m internally, and how do you hope to recoup it if you have no long term interest and especially if you cannot operate at a profit, despite hundreds of millions in investment? What is the ROI for them or any new owner?

They were paying for fresh air to ultimately put their name all over it. They cannot do that now.... (but that may change).

The whole thing is still a bag of imponderables and unknowns.... several years in, and the wolf is at the door!

 

[The binman chronicles]

How do you square off £500-750m internally, and how do you hope to recoup it if you have no long term interest and especially if you cannot operate at a profit, despite hundreds of millions in investment? What is the ROI for them or any new owner?

They were paying for fresh air to ultimately put their name all over it. They cannot do that now.... (but that may change).

The whole thing is still a bag of imponderables and unknowns.... several years in, and the wolf is at the door!

They will recoup with the sale of the club once built. My point is for now if they were going to pay out 50 million a season then they can afford the build. Whether they give it to the club (which they now can't) or keep it is the exact same thing APART from it would have allowed us more headroom as income.

 

[Tom Hughes]

They will recoup with the sale of the club once built. My point is for now if they were going to pay out 50 million a season then they can afford the build. Whether they give it to the club (which they now can't) or keep it is the exact same thing APART from it would have allowed us more headroom as income.

Perhaps.... but would you pay full cost for a business that has hemorrhaged cash repeatedly, is under investigation and in a relegation battle? A business that has also been unable to secure any funding or investment for the stadium project? He's already £750m down....
So if he's going to recoup his investment you're talking well north of £1bn.

 

[everton1953]

To paraphrase W Churchill, never in the field of..... oh fooknit Can't be bothered repeating it.

 

[Mademan]

Stadium website says safe standing will be available in the lower south stand. I’m sure it said previously that the lower north stand would have it as well. Anybody know?

 

[Tom Hughes]

Stadium website says safe standing will be available in the lower south stand. I’m sure it said previously that the lower north stand would have it as well. Anybody know?

I think it was only for a part of the away section in that lower tier.... not all of it.

 

[Berkshire blue]

Was on the ferry yesterday some amazing views of the stadium looks so impressive was wondering if there will be a ferry to the stadium from town would be a great way to travel to the game

 

[BNJ1878]

Stadium website says safe standing will be available in the lower south stand. I’m sure it said previously that the lower north stand would have it as well. Anybody know?