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Park End annexe - 'not going to happen now'

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Bah, this thread is everything that's wank about everton forums.

Next people will be quoting end of fiscal year figures and marketing predictions and loan interest payment annuity's maturing - (I made that last bit up).

Who gives an arse?

Who's gonna play in Pienaar's position?

Sometimes we may as well be on a business forum. Let's face it, nobody on here has a scooby doo about business otherwise they;d be in a position to buy Everton.

It's all bollocks lads.
 
neonleon said:
Bah, this thread is everything that's wank about everton forums.

Next people will be quoting end of fiscal year figures and marketing predictions and loan interest payment annuity's maturing - (I made that last bit up).

Who gives an arse?

Who's gonna play in Pienaar's position?

Sometimes we may as well be on a business forum. Let's face it, nobody on here has a scooby doo about business otherwise they;d be in a position to buy Everton.

It's all bollocks lads.
Click to expand...

You'd be surprised mate.

TX Bill could buy Everton, twice.
 
neonleon said:
Bah, this thread is everything that's wank about everton forums.

Next people will be quoting end of fiscal year figures and marketing predictions and loan interest payment annuity's maturing - (I made that last bit up).

Who gives an arse?

Who's gonna play in Pienaar's position?

Sometimes we may as well be on a business forum. Let's face it, nobody on here has a scooby doo about business otherwise they;d be in a position to buy Everton.

It's all bollocks lads.
Click to expand...

Is the right answer. It's been debated the crap out of for beards on here.

No one still agrees. Unless it's me, in which case davek has converted me. Good work davek lid.
 

Neiler said:
Woah horsey, why would BS/Pru have a legal right to make an objection to the annexe if the deal is secured against the gate and season tickets - which is currently what is the public domain. How does the annexe jepordise either part of that deal and how do they have a legal right to interfere, if they have a legal right to the free hold, footprint, land its news to me.

The rubbutal you give isnt relevent, why would BS/Pru be bothered once their loan is secured, surely increased revenue puts the club in a better position to pay back the terms. You made the point yourself in terms of S.T's and gates as security even at another site, the annexe doesnt influence that at all, infact isnt it supposed to increase capacity.

See what im getting at here, have a think.

Morpheus
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The initial loan of £30M will have come with covenants attached to it by Bear Stearns and then taken on by the Prudential which lay down the law to the loanee what they may or may not do in all matters financial at the club (they're calling the shots and want their cash to have top priority at all times). If they feel that an under the cosh Everton, with creditors knocking at the door, can make better use of their asset (the stadium) to make sure stability is maintained in order for them to repay their debt then they'll demand that. In this instance they may have looked at the annexe deal (which, as you maintain, isn't all that) and might feel it adds nothing substantial to the financial health of the club. They may also feel it fastens the club to the current site when they'd prefer the proposed Stonebridge Cross scheme up the road in Crocky...who knows what inter-locking directorships and connections between a financial house and the enabler (Sainsbury's) there are that would seek that particular outcome? Whatever the actual reasons, the point is that there's conditions that the club would have had to satisfy with the Pru - and should have done - before it went off half cock again and made a complete pigs ear of it.

"Complexities" FFS!
 
Neiler said:
Thats is why im waiting for a club statement, either this is massively bogey, or this is as serious a gaff as i can ever remember which basivly ties us to Goodison in its existing form for the next 12 years, given the info KEIOC etc are giving out.
Click to expand...

How can you doubt the acumen of our wonderful board?
 
davek said:
The initial loan of £30M will have come with covenants attached to it by Bear Stearns and then taken on by the Prudential which lay down the law to the loanee what they may or may not do in all matters financial at the club (they're calling the shots and want their cash to have top priority at all times). If they feel that an under the cosh Everton, with creditors knocking at the door, can make better use of their asset (the stadium) to make sure stability is maintained in order for them to repay their debt then they'll demand that. In this instance they may have looked at the annexe deal (which, as you maintain, isn't all that) and might feel it adds nothing substantial to the financial health of the club. They may also feel it fastens the club to the current site when they'd prefer the proposed Stonebridge Cross scheme up the road in Crocky...who knows what inter-locking directorships and connections between a financial house and the enabler (Sainsbury's) there are that would seek that particular outcome? Whatever the actual reasons, the point is that there's conditions that the club would have had to satisfy with the Pru - and should have done - before it went off half cock again and made a complete pigs ear of it.

"Complexities" FFS!
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I have to say mate, although i take on your point and while the annexe may not be built, im certain Pru/BS cant legally act outside their security unless there is a breach - which to the best of my knoweldge their isnt. Your stabbing in the dark here without knowing the detail of the deal, or cant explain it. I can safely say, that this would set a precedent for this type of deal, take Newcastle and Utd who have similar deals albeit at larger borrowings and higher intrest rates, they have continually adjusted, built expanded etc on their sites, yet their debt - turnover ratio is worse then ours. Similarly Leeds who have done same thing. To be honest your reasoning isnt based on any fact and your not sure of the reasons, your just sure.

It remains to be seen wheather KEIOC or the individual in question actually have any sound fact to back up this disclosure, either way someones telling a whopper be it the club (detail of the deal) or KEIOC (unfounded allegation) whoever it is will get a pasting from me - though there is no basis i have seen to move from the offical line of the club at this point. There arent any news outlets running with this either - not even locally.
 
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"Everton are about to go into administration"

- Anonymous Everton fan, February 2011.


"Everton can't build the annex"

- Anonymous Everton fan, May 2011.

Load of ****e.
 
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Can somebody draw me a graph or pull a spreadsheet up?

I want links, meeting notes, end of year fiscal statements, projected budgets and architectural blue prints as a minimum.

Also what does anyone reckon the score will be against the baggies? I know its a bit of a mad question like.
 
Neiler said:
I have to say mate, although i take on your point and while the annexe may not be built, im certain Pru/BS cant legally act outside their security unless there is a breach - which to the best of my knoweldge their isnt. Your stabbing in the dark here without knowing the detail of the deal, or cant explain it. I can safely say, that this would set a precedent for this type of deal, take Newcastle and Utd who have similar deals albeit at larger borrowings and higher intrest rates, they have continually adjusted, built expanded etc on their sites, yet their debt - turnover ratio is worse then ours. Similarly Leeds who have done same thing. To be honest your reasoning isnt based on any fact and your not sure of the reasons, your just sure.

It remains to be seen wheather KEIOC or the individual in question actually have any sound fact to back up this disclosure, either way someones telling a whopper be it the club (detail of the deal) or KEIOC (unfounded allegation) whoever it is will get a pasting from me - though there is no basis i have seen to move from the offical line of the club at this point. There arent any news outlets running with this either - not even locally.
Click to expand...

Of course the precise reason for this latest scheme falling flat on its arse can only be guessed at. It can be acknowledged, though, that falling foul of the original securitization deal's proviso(s) is a good shout at this stage, given the news from KEIOC's sources. And those provisos do exist: one agreed with BS was concerning the need for the capacity not to drop below that currently existing at GP in any new stadium move.

As I said earlier in this thread: you pays your money and takes your chice on this matter. To me it's clear the club's last word on the subject was to bury the issue for a year (by which time the latest "oh look" deflection scheme will be on deck and no one will give a shit about the annexe). KEIOC have coughed uip what they say are part of the details of an explanation for the failure and you accept/reject them as you see fit. Up to you....although how anyone gives this boardroom of serial [Poor language removed] ups the benefit of the doubt I dont know. Let's just say there's some very gullible people knocking about and leave it at that.
 
Has anyone mentioned that the annex was a lure to get season tickets sold yet? If not, this is it!!!!
Or, could the jungle drums have sounded something about Stanley Park?
 

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