Overlooked but big news

[Blue Lou]

Four mortgages settled last week... one a year early. This was before Rodwell was sold so they haven't been paid off using Rodwell's transfer fee. They were paid using income from the Premier League.

Three are from Barclays, the other is the infamous Vibrac loan.

What I have posted is that four mortgages have been settled.. they were taken out on:

01 October 2008
05 August 2009
20 December 2010
11 August 2011

Four years worth of mortgages have been settled. No new mortgages have been taken out. I presume some of Rodwell's fee will be kept back from transfer funds so that Everton don't need another bridging loan. This will save the clubs millions this season alone.

 

[canuckblue]

Just clears the way for more such mortgages in the future. And 'round and 'round we go. Where we'll stop, nobody knows, but likely the Championship.

 

[Brennan]

 

[tenerifeblue]

Four mortgages settled last week... one a year early. This was before Rodwell was sold so they haven't been paid off using Rodwell's transfer fee. They were paid using income from the Premier League.



Three are from Barclays, the other is the infamous Vibrac loan.

Bloody hell Lou, posting facts like this will upset the doom merchants....why spoil their day ???????

 

[Zatara]

Four mortgages settled last week... one a year early. This was before Rodwell was sold so they haven't been paid off using Rodwell's transfer fee. They were paid using income from the Premier League.

Three are from Barclays, the other is the infamous Vibrac loan.

They clear them off every year....then apply for more loans.

 

[Goat]

They clear them off every year....then apply for more loans.

This.

 

[pfim]

Just clears the way for more such mortgages in the future. And 'round and 'round we go. Where we'll stop, nobody knows, but likely the Championship.

Yes, most businesses have debt.

 

[Goat]

They are bridging loans we take out every Year untill the Sky money comes in.

 

[Blue Lou]

They don't.

They've never cleared them all in one go before. The only one big one left is from 2002 and that is for 25 years.

 

[canuckblue]

Yes, most businesses have debt.

But most businesses also have at least some injection of capital from the people running them. Not one cent of their own money has ever been put into the club by these clowns, certainly not in recent years. It's become a vicious circle: Take out loans, bring along a top player, sell said player to pay off loans, take out more loans. Repeat ad nauseum. And believe me, I'm nauseum to the back teeth.

 

[steken1]

Hopefully the money from the sale of Rodwell means we can get through a season without taking out bridging loans which is £2m a season extra give or take.

Gets you a decent player when Moyes is doing the buying.

 

[pfim]

But most businesses also have at least some injection of capital from the people running them. Not one cent of their own money has ever been put into the club by these clowns, certainly not in recent years. It's become a vicious circle: Take out loans, bring along a top player, sell said player to pay off loans, take out more loans. Repeat ad nauseum. And believe me, I'm nauseum to the back teeth.

As stated above, this for all intents and purposes is an advance on the tv money for this season. So yes, it will happen every year.

Debt isn't the club's issue.

 

[pfim]

Hopefully the money from the sale of Rodwell means we can get through a season without taking out bridging loans which is £2m a season extra give or take.

Gets you a decent player when Moyes is doing the buying.

Except you have no money to run the club until next season, and won't be buying anyone for the upcoming season.

 

[canuckblue]

As stated above, this for all intents and purposes is an advance on the tv money for this season. So yes, it will happen every year.

Debt isn't the club's issue.

It will be when the TV money drops or stops altogether. It's just a matter of time.
This process of geting loans as an advance on the TV money means we're just treading water. For now.
Debt is fine as long as you can service it. But, to me, continuously getting loans like this is not an intelligent way to service debt.
It would be like taking out one credit card to pay another off, and then takling out a third to pay the second off, and so on. There are only so many credit cards out there and sooner or later you get bitten on the ass.

 

[pfim]

The TV money isn't stopping. It's growing, if anything.

Look, it'd be nice to have an oil sheik running the club, but that isn't the case at the moment. Borrowing against future revenues, which we know will be there, isn't a bad strategy. This comes up every summer and every summer it's the same argument.