New Everton Stadium

[Del-boy]

Indeed. We are paying RMF £24M annually (12% on £200m) and now also paying 777 £3.6M (18% on £20m) excluding likely fees added to both and there is also another overdraft with a spanish bank. That's 15-20% of all of our income on interest and unlikely we are paying down any of the principal.

The fact we have gone from 12% to 18% on the most recent borrowing should be a flashing warning sign as to our credit worthiness and why no reputable institutions will touch us with a barge pole right now. The club's finances need a fundamental reset and my sense is they will indeed get worse and trigger a credit event (to likely include a work stoppage on BMD), before they will get better. Longer term, the debt (excluding loans to Moshiri which will be written off in a transaction or credit event) will be restructured and stretched out a sub 10% rate to a pension fund. What happens between here and then may not be pleasant.

In the very first stages of the project when we sought lending from financial institutions. Mitsubishi bank offered us a loan of £500 million at 4%. This was at the very early stage mind, way before the interest rates went up.

Being Everton. We obviously turned it down. I think we then went down the government regeneration/infrastructure funding via the local council. This had a rate of around 2-3%. The council obviously take the loan and we then pay them back with interest.

This was jibbed as well. Think too much pressure for the council to lend to us hundreds of millions even though it was a government initiative and the money can’t be obtained any other way.

Oh what could have been.

 

[ChrisPW75]

Indeed. We are paying RMF £24M annually (12% on £200m) and now also paying 777 £3.6M (18% on £20m) excluding likely fees added to both and there is also another overdraft with a spanish bank. That's 15-20% of all of our income on interest and unlikely we are paying down any of the principal.

The fact we have gone from 12% to 18% on the most recent borrowing should be a flashing warning sign as to our credit worthiness and why no reputable institutions will touch us with a barge pole right now. The club's finances need a fundamental reset and my sense is they will indeed get worse and trigger a credit event (to likely include a work stoppage on BMD), before they will get better. Longer term, the debt (excluding loans to Moshiri which will be written off in a transaction or credit event) will be restructured and stretched out a sub 10% rate to a pension fund. What happens between here and then may not be pleasant.

Thanks for this. Do you or anyone else know how much capital we are paying back annually on the loan in addition to the interest?

 

[BullensRoad]

Where are these figures from / substantiated out of interest?

Esk. So ignore.

 

[BullensRoad]

In the very first stages of the project when we sought lending from financial institutions. Mitsubishi bank offered us a loan of £500 million at 4%. This was at the very early stage mind, way before the interest rates went up.

Being Everton. We obviously turned it down. I think we then went down the government regeneration/infrastructure funding via the local council. This had a rate of around 2-3%. The council obviously take the loan and we then pay them back with interest.

This was jibbed as well. Think too much pressure for the council to lend to us hundreds of millions even though it was a government initiative and the money can’t be obtained any other way.

Oh what could have been.

. We never took the government loan option, please stop using guess work as a fact.

 

[Del-boy]

. We never took the government loan option, please stop using guess work as a fact.

I know that’s why I said it was jibbed…

 

[Tom Hughes]

I see Tom's back to make everyone miserable and to praise the RS for their giant hole punch approach to stadium building.

Where did I mention Anfield in those last posts? Why make things up? Another one who cant dispute what I've said so tries to rabble rouse and misrepresent.

 

[Tom Hughes]

In the very first stages of the project when we sought lending from financial institutions. Mitsubishi bank offered us a loan of £500 million at 4%. This was at the very early stage mind, way before the interest rates went up.

Being Everton. We obviously turned it down. I think we then went down the government regeneration/infrastructure funding via the local council. This had a rate of around 2-3%. The council obviously take the loan and we then pay them back with interest.

This was jibbed as well. Think too much pressure for the council to lend to us hundreds of millions even though it was a government initiative and the money can’t be obtained any other way.

Oh what could have been.

 

[Stephen Gibson]

 

[oglop44]

This has to be good news for us: https://www.bbc.co.uk/sport/football/67003581

 

[EFC_FRANCIS]

Is the pictures inside pitch level? Because it looks really small inside the ground but massive from the outside

 

[The binman chronicles]

Is the pictures inside pitch level? Because it looks really small inside the ground but massive from the outside

What picture are you referring to?

 

[Onwards Evertonians]

 

[GoldenToffee]

Can we get any kind of grant or funding for that?

 

[davep]

the last 2-3 years of negative net spends keeping us in a relegation battle for the last 2 seasons

Toxic Spin? Try toxic debt...... it's currently threatening our club

Tom, mate, we're all depressed enough. Can you just give us all a couple of days off from your incessant doom mongering? You're probably right, everything probably will be terrible but I'm not sure what you want any of us to do about it. Just let us have what's left of the weekend in peace. What is the point of all of this browbeating? Does it make you feel good to make others feel bad?

let me guess, redevelop goodison, yada yada, sight line angles, yada yada, transport links, yada yada, roof acoustics, yada yada, redevelop goodison, yada yada. A level home work, no finance yada yada, Meis is a divvy, yada yada.

Some people are wired to get dopamine from bringing up unnecessary issues.

As another infamous account does regarding finances, I struggle to ignore it when it's clearly bull and brings people down for no reason.

Negative net spend on the team over the past 2+ yrs, while in back to back relegation battles.... selling valuable playing assets

The new stadium has not caused the mess at Everton, that is separate.

In my opinion the new stadium is one of the very few optimistic things about this club at present.

I don't know why he and others keep on going on about the transfer spend in relation to the stadium, as if the reason we haven't spent any money the last couple years and keep selling players isn't because we spunked ~£4-500m on rubbish players and now under threat of falling foul of FFP. They're two seperate issues, and even if the stadium wasn't costing more (which is being covered by loans, so not money from the club anyway???) we wouldn't be able to spend more on the squad. How do ppl not get that? Or is it just the case, as several of you have mentioned, that some ppl just like to take anything they can and twist it to moan and have a pop at the club/ppl running it?

Let's get back to Stadium updates.


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It is going to be so amazing. Can't wait to visit.

 

[Tom Hughes]

I don't know why he and others keep on going on about the transfer spend in relation to the stadium, as if the reason we haven't spent any money the last couple years and keep selling players isn't because we spunked ~£4-500m on rubbish players and now under threat of falling foul of FFP. They're two seperate issues, and even if the stadium wasn't costing more (which is being covered by loans, so not money from the club anyway???) we wouldn't be able to spend more on the squad. How do ppl not get that? Or is it just the case, as several of you have mentioned, that some ppl just like to take anything they can and twist it to moan and have a pop at the club/ppl running it?


It is going to be so amazing. Can't wait to visit.

So, they spunked several hundred million on [Poor language removed] players, but people are twisting everything to have a go at the club and the way its being run?

P&S status is also subject to consideration of loans for the stadium and/or if any of the stadium debt has been loaded onto the club. If FFP was balanced, then the money recouped by player sales and wage reduction of the last 2-3 seasons could've been reinvested back into the team. It looks like it hasn't because the well has dried up.... the billionaire is attempting to cut his losses and doing a runner by selling us to the first sharks he can and we're now living on pay-day loans at extortionate rates. Apart from that everything is just hunkydory.