The Everton Board Thread (Inc. Bill Kenwright / Blue Union)

[Foot Long Hot Dog]

The new training ground build was THE main reason for taking out the £30M securitisation deal. The funding was there. You tell us what happened.

Was it? Since when?

The original securitisation of £25.6M was done in 2002 & the prime driver was to lose the £19M overdraft facility that was a hang over from the Johnson era. I don't remember anyone professing that it was to build a new training facility.

 

[Neiler]

The new training ground build was THE main reason for taking out the £30M securitisation deal. The funding was there. You tell us what happened.

Why do you think that mate?

Going of memory the deal was well in place, before the plans were even annonced. For me it had more to do with the only cashflow we had was a 5mill overdraft and an almost 100% Debt to turnover ratio from Hamper man.

 

[nsno-chris]

The new training ground build was THE main reason for taking out the £30M securitisation deal. The funding was there. You tell us what happened.

Please provide me with any reference from our CEO which states that the this was used for FF.

As Neiler said, it was to free up cash flow.

 

[davek]

Was it? Since when?

The original securitisation of £25.6M was done in 2002 & the prime driver was to lose the £19M overdraft facility that was a hang over from the Johnson era. I don't remember anyone professing that it was to build a new training facility.

Why do you think that mate?

Going of memory the deal was well in place, before the plans were even annonced. For me it had more to do with the only cashflow we had was a 5mill overdraft and an almost 100% Debt to turnover ratio from Hamper man.

http://www.efinancialnews.com/story/2002-03-22/uk-football-club-raises

"The proceeds will be used to repay existing bank debt, develop training facilities and make transfer funds available to David Moyes, Everton's new first team manager."

 

[davek]

Please provide me with any reference from our CEO which states that the this was used for FF.

As Neiler said, it was to free up cash flow.

No, it was for "the development of the business" - P. Carter.

 

[paulbefc]

It's quite fitting that Davek takes the 8000th post in this thread.

 

[davek]

It's quite fitting that Davek takes the 8000th post in this thread.

We'll reach 20,000 with Billy Liar still here too.

 

[edge]

We'll reach 20,000 with Billy Liar still here too.

you have missed a few 000000 off that

 

[davek]

you have missed a few 000000 off that

Apparently Bill hasn't been well for years. You just know he'll outlive nearly everyone posting here and hang onto the club for the next 50 years.

Year 2062...page 85,000 of this thread, they'll still be wondering if Bill's found a Martian to takeover.

 

[Foot Long Hot Dog]

No, it was for "the development of the business" - P. Carter.

The CASH was always to clear the £18M+ overdraft that was left behind by Johnson, as it's an expensive & very exposed way of funding debt. It was no secret at the time, we were paying the piper.

 

[edge]

Apparently Bill hasn't been well for years. You just know he'll outlive nearly everyone posting here and hang onto the club for the next 50 years. Year 2062...page 85,000 of this thread, they'll still be wondering if Bill's found a Martian to takeover.

you have more chance of me finding maggie thatcher bollox naked in bed with you wearing your boxing shorts as a mask, after a drunken night out on county road than bill selling.

 

[davek]

The CASH was always to clear the £18M+ overdraft that was left behind by Johnson, as it's an expensive & very exposed way of funding debt. It was no secret at the time, we were paying the piper.

...and to develop a training facility....which they did and then sold off...which to pay down more debt...and pay through the nose to rent out what should have been owned. Strange way to use a securitisation loan. The business wasn't developed very much by that little circus side-show trick was it?

 

[edge]

The CASH was always to clear the £18M+ overdraft that was left behind by Johnson, as it's an expensive & very exposed way of funding debt. It was no secret at the time, we were paying the piper.

2010 loan has 21.5 payable after five years, it will be here soon looking forward to that.

 

[davek]

you have more chance of me finding the maggie thatcher bollox naked in bed with you wearing your boxing shorts as a mask, after a drunken night out on county road than bill selling.

If that's what it takes to shift Bill out, I'm up for that.

 

[edge]

If that's what it takes to shift Bill out, I'm up for that.

no davek, i wouldnt wish that on anybody, not even for everton