New Everton Stadium

[Tom Hughes]

All we can do as supporters is try and enjoy as much of what goes on as possible. Whether that's the stadium we probably can't afford or the drama off the pitch.

I think the only problem with "trying to enjoy" misery, is that the misery-makers then have less incentive to fix it.... and in some self-destructive cases, are only to happy to pile on more.

 

[Exeter_Gently]

Everyone knows I'm the truest Evertonian.

I thought I was...I make my Kopite bird iron my Everton curtains every Saturday morning.

 

[Toffeelover]

I thought I was...I make my Kopite bird iron my Everton curtains every Saturday morning.

Grounds for saying bye bye form her.

 

[Dr Baxter]

I assumed he meant a True Evertonian
as in a "discerning" Evertonian who only wants what's best for the club as he sees it.

So you're a mind reader now as well, Tom? There really is no end to your talent.

 

[Tom Hughes]

So you're a mind reader now as well, Tom? There really is no end to your talent.

Not at all.....That's why I said I "assumed".

 

[Mikey_Fitzgerald]

Would anyone be remotely surprised if we ended up as tenants rather than owners aT BMD and the current plans for Goodison got canned, with the land just being sold instead?

Wouldn't shock me in the slightest with 777 coming in

Sell the stadium to lease it back and Goodison gets torn down with the land being sold to someone to bolster the bottom line

Companies like 777 don't care about anything other than that

It will be a sad brutal day amongst a number of sad and brutal days when it happens, and the worst thing is that many won't care

 

[The binman chronicles]

Why would we have this situation without the stadium? The stadium is now driving the situation.

Increased finances are very much dependable on the debt incurred and on us still being in the top flight. No bank has gone near this project and the only people now interested are shark investors smelling a corpse..... even despite it being 2/3rds built (to date paid for by the current owner).

Our only hope is that either Moshiri takes a big hit to lessen that debt (without falling out of an open window) and/or that 777 or whoever gets the stadium over the finish line can attract a major sponsor or sell on to real wealth to help release the stadium's potential.

People are moaning because of the results on the pitch, if we were top of the league this would more or less be an irrelevance. Because it's doom and gloom people are firing off at all angles without much idea to what is really going on.

The team's performance has not been capped by the stadium, it's due to us spending badly and having a too high wages to income percentage. We have spent the last couple of years adjusting that but we are still yet to post on positive set of accounts or even a small loss. That tells us regardless of this situation we would still roughly be where we are struggling along on the pitch.

The stadium will look after itself once finished and we are in it, until then it was always going to be tight and that looks like it has finished off Moshiri without his backer. He did say they now have a fully funded stadium so it looks like 777 will start picking up the tab until the bank loan is sorted.

 

[Mrbluenose]

I think the only problem with "trying to enjoy" misery, is that the misery-makers then have less incentive to fix it.... and in some self-destructive cases, are only to happy to pile on more.

Those in charge, be it Moshiri, Kenwright or 777 don't care what we want or listen to what we say.

Enjoy the ride best you can.

 

[Kever10]

Did anyone notice on the most recent vids how the concrete terracing had changed to a much darker grey?

Some might say its probably just wet, from the rain.

But to me it is obviously way more sinister.

We are doomed.

 

[The binman chronicles]

Wouldn't shock me in the slightest with 777 coming in

Sell the stadium to lease it back and Goodison gets torn down with the land being sold to someone to bolster the bottom line

Companies like 777 don't care about anything other than that

It will be a sad brutal day amongst a number of sad and brutal days when it happens, and the worst thing is that many won't care

People need to take a step back and ask themselves what benefit would an owner have to sell the stadium and what benefit would it be to someone who wants to buy it.

Taking the first part, what are the benefits of selling it on? Someone pays 500 or so million to 777, that does sound good and gives them a cash boost, however by selling it off they've just knocked off the same value or likely more from Everton. If they've got the club for the amount touted around it's possible they could flip us for that amount as soon as we are in if they are looking at that kind of quick profits. Secondly Everton would have to pay more to rent than loan and lose additional benefits of the stadium further devaluing the club and making it harder to compete which will further devalue the club. If you have a business in rude financial health and playing well then they have better chances of bigger returns.

The second part to this is even more crucial, who would buy a stadium for 500 million with only one natural tenant and has several other large stadiums on its doorstep? If the stadium had a roof and could become the central concert venue for the area then there would be something in it. If it was able to transform like Spurs' stadium to allow a gig midweek before a match at the weekend would be another. If it was in the Midlands and had good transport links might yet be another factor in it's favour to make it worth while for a buyer. Basically anyone who did buy it wouldn't see a penny of profit for 20 years and that's if they have the cash ready and not have to borrow it from another 3rd party.

Using Coventry as an example they sold the stadium for 17m, if you have clauses to have some of the naming rights cash as the operator and you arrange some concerts and other events then you can quite quickly get a return for your money with a much smaller risk factor. Much harder to do that with a 750m, 53k super stadium.

So imho we would only be able to sell it for way less than what it cost to build which then has to go on to the scales of is it worth it? As long as who owns Everton can facilitate a bank loan or similar then the club pay for the stadium anyhow and the owners can take dividends from profits it makes.

 

[WA Toffee]

Because 777 are taking over, we can’t win a game, we are probably going down this season, players look uninterested, the manager looks already out of his depth, this was supposed to be a fresh start and something to look forward to, it’s turning into a nightmare.

I'm still not following. Because we are not very good at football, building a new stadium is silly?

 

[WA Toffee]

Because it's obvious it's crippling us right now and we're very likely to not enjoy the financial benefit of it.

Isn't it the P&L regulations that are preventing us spending? And the stadium spend is not included in P&L regulations?

 

[tommye]

This new stadium is immense but it all looks a bit silly now doesn't it.

Not as silly as your ITK posts but hey ho

 

[Street end man]

Not at all.....That's why I said I "assumed".

You are correct Tom 100% thank you.

 

[Tom Hughes]

People are moaning because of the results on the pitch, if we were top of the league this would more or less be an irrelevance. Because it's doom and gloom people are firing off at all angles without much idea to what is really going on.

The team's performance has not been capped by the stadium, it's due to us spending badly and having a too high wages to income percentage. We have spent the last couple of years adjusting that but we are still yet to post on positive set of accounts or even a small loss. That tells us regardless of this situation we would still roughly be where we are struggling along on the pitch.

The stadium will look after itself once finished and we are in it, until then it was always going to be tight and that looks like it has finished off Moshiri without his backer. He did say they now have a fully funded stadium so it looks like 777 will start picking up the tab until the bank loan is sorted.

"If we were top of the league".....? Seriously? We are in danger of actually dropping out of that league, yet again....... as we have been almost throughout the build.

Yes, much of the initial financial mess was down to atrociously poor player recruitment/management etc.... . But we are now 18th in the net spend league for the past 5 years. The same money-no-object scattergun economics was then applied to the stadium project.

We have sold off most of our players of real value and massively reduced the wagebill, yet we are still having to get further high interest loans off shark investors to finish the stadium. I believe we were already paying over £34m per year on the interest on the last lot of loans alone. That's just been expanded. If the new owners are a essentially a leveraged buy out, then further debt will be loaded onto the club.... at which point any income uplift from the new stadium (if we still own it) could be completely swamped by those interest payments. Several years into the build and we still don't know what that projected income uplift will be.

Unless there are substantial new TV/Sponsorship or other windfalls in the pipeline, it's quite hard to see any operating margin.

As far as I can see, the only real hope is that Moshiri takes a massive hit, to minimise that debt and that the new owners pass the club on to real wealth asap, but whichever way you look at the process, it has been a highly speculative gamble on the club's whole future.