Not sure I agree with that. Goodison is so limiting. It was a problem that was always going to need to be tackled.
Yes, but that doesn't mean that the business case for BMD was strong (or even sustainable) as has been shown.
When Arsenal and Spurs were putting their stadium proposals together, they clearly demonstrated viability with their projections for increased incomes covering the cost of the loans, principally via much increased corporate offers. As a consequence, those clubs had no real problems raising the required finances. They had 150 and 80 boxes and high-capacity, high-end executive/corporate in whole dedicated tiers, versus our 20ish boxes and mainly corporate-lite in shared tiers.
Our model was always far more speculative and sugar-daddy-loaded. Initially, the owner was only supposed to be funding site acquisition, planning and initial construction phases, with the club seeking finance for the balance to complete it. Our sponsor was then going to help cover those loans via a lucrative naming rights deal. All seemingly plausible, until people started applying the actual numbers. At no point was the club able to demonstrate viability to the banks to secure the finances and that initial plan didn't even get over the first hurdle. However, the club was still in "money-no-object" mode, and pushed on regardless in the hope that at least starting it would convince lenders. It didn't! Moshiri has had to cover it all, up to recently. In the meantime costs have spiraled by 50% (if you believe Moshiri) and the sponsor is no more. Our previously parlous financials have only worsened (possibly due to the stadium) and the club is completely financially hamstrung, on and off the pitch. Moshiri now appears desperate to sell ASAP. He is in loss-cutting mode and has even had to go cap-in-hand to any would be (potentially shark) investors to partially plug the funding gap and to try to help meet the lenders risk requirements, to finally secure those loans (that will be loaded onto the club) to get the stadium built. Even that seems to have backfired due to the nature of other outstanding loans.
Unfortunately, this is where we could enter that rocky territory where the owner's and club's wishes become divergent. His hope now is that the stadium will boost the value of the club sufficiently enough for him to recoup as much of his money as possible. Our hopes are that any subsequent debts are not loaded onto the club and its new owners going forward, and that those new owners represent the best option for us and not necessarily just those of someone desperate to sell.
None of which was mentioned in the brochure!