I don't think that any-one is saying that Everton don't need to increase matchday income, nor that Goodison as it is, can readily achieve that.
However, the fact that even at this stage in the project, no-one appears to be able give an actual projected income for BMD, is probably quite telling.
Normally, clubs addressing their infastructure/stadium issues would produce a cost/benefit analysis of all of the options, and weigh them all up. Of course, assessing all of the benefits can be quite difficult, as projecting the added value of "changes of perception/image" and other "new stadium effects" is a bit like trying to knit fog. However, it is usually fairly straight forward to at least compare costs with projected income ranges to demonstrate an achievable margin of economic viability. Yet, apart from in very broadbrush terms, this basic comparison doesn't appear to be available for any of the options. Even the chosen one at BMD. Why is that?
It would appear that because of our owner's (and possibly more importantly) his backer's wealth, this kind of analysis and the cost generally, wasn't of great concern. As with our on-pitch investment, the money was there, spend it, and keep spending it till we get it right! The same scattergun economics of a lottery-winner who builds a race track in his back garden and has a spending extravaganza "because he can", and then wonders why he's suddenly bankcrupt.
BMD was also attractive because at the beginning of the project, there was the promise of potential major enabling funding via a CWG bid that could've covered much of the costs. Unfortunately, Durban's cancellation shifted that window, bringing it forward by 4 yrs, making Brum's alternative plans far more achievable. Hence the reason why talk of 62k+ was quickly muted and became 52k+ soon after... with a projected total cost of £500m.
Moshiri then stated that he would fund the initial phases and the club would secure funding for the rest (approx half)..... These loans would then be covered (at least partially) by a sponsorship deal, for which USM had already paid £30m just for first dibs, (which in itself was essentially a FFP dodge) to go along with all of his other sponsorship deals. The basic fact that no finance was secured at any point before or after this, would suggest that the financial institutions have never looked too favourably on our proposals and/or the associated risks.
Since then, those costs have supposedly risen by 50% and the sponsorship deals with USM are no more! So the whole viability equation became even less balanced than the one that had already generated no interest from the banks. Moshiri ploughed on regardless, despite the fact that there was very little above ground at BMD when Russia invaded Ukraine and USM was sanctioned. He reassured the fans that he would continue to fund the build and could afford to fund the lot if necessary. This was then amended to up to the year's end. Yet here we now are, still unable to get support from the financial institions and having to kowtow to loan sharks and ultimately having to sell to the bottom-of-the-pile venture-capatalists on the drip, with Moshiri's and the club's whole funding bubble completely burst.
Even if our matchday income doubles (which is by no means certain), that uplift would be less than the interest payments on our loan debts alone (apparently these were running at £34m pa before the last loan went through). Nevermind if more of the stadium and other debts are also offloaded onto the club by carpet-baggers on a potential leveraged buyout.
At these levels of expenditure, this was always a sugar-daddy-led money-no object development. However at some point the figures have to balance and/or that debt has to land somewhere, hence the reason for our current parlace state. As far as I can see, our only hope is that the out-going owner takes the hit and bears the bulk of the pain so that the incoming one can at least finish the stadium. This could then package the club for a sale to someone who can readily absorb the remaining debt. The other option is that somehow the multi-club model can generate the cash to do similar. Something that it doesn't appear to have done for any other club in their portfolio thus far.
great job moshiri thanks. 
