£60 Million Chinese Deal?

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At the risk of people ( not you btw ) bedwetting about us following the Utd model, they have a 125 million revolving credit facility which doesn't sound much different to ours.

As an aside, certainly up to last year, they hadn't actually used that facility since 2009. I doubt very much we'd have agreed our 60 million facility with the Chinese without intending to use it though.
Everton commercial revenue: £21M

Man utd commercial revenue £282M

The same model indeed.
 
Doesnt sit right with me. And Im not sure its needed.

If Everton currently need to spend money they have to decide, talk to the other club, agree a price, go back to our board, agree the price is good, then they have to go cap in hand to Moshiri and wait for him to green light.

This despite him only being a 49% owner and having other assets to work on. So we wait, it takes time, we lost our target.

This £60 million will allow us to be reactive in the markets and when the money is needed it can be used there and then. It's then paid back at the normal pace.
 
Everton commercial revenue: £21M

Man utd commercial revenue £282M

The same model indeed.

Just about the right proportion to take into account the difference in the current revenues and the ambition shown by Everton,I'd say.

But hey, I'm trying to be progressive. I know I'm smashing my head against a wall here.
 
I haven't read all this thread as a lot of financial stuff goes right over my head so apologies if this has already been covered, but is it possible that this is, in part, a flex of our financial muscle towards potential stadium investors?
 

@hibbo'sclass apparently all the docs for this are up on CH now
https://beta.companieshouse.gov.uk/company/00036624/charges/7Z6CMJd3nJ3nRQtgAK5VeMPZn0c

EVERTON FOOTBALL CLUB COMPANY,LIMITED(THE)

Company number 00036624

Follow this company
File for this company
  1. Charges
  2. Charge code 0003 6624 0057
Charge code0003 6624 0057
Created
30 June 2017
Delivered
5 July 2017
Status
Outstanding
Transaction Filed
Registration of a charge (MR01)
Persons entitled
  • Industrial and Commercial Bank of China Limited, London Branch
Brief description
Contains fixed charge.
Contains negative pledge.
 
@hibbo'sclass apparently all the docs for this are up on CH now
https://beta.companieshouse.gov.uk/company/00036624/charges/7Z6CMJd3nJ3nRQtgAK5VeMPZn0c

EVERTON FOOTBALL CLUB COMPANY,LIMITED(THE)

Company number 00036624

Follow this company
File for this company
  1. Charges
  2. Charge code 0003 6624 0057
Charge code0003 6624 0057
Created
30 June 2017
Delivered
5 July 2017
Status
Outstanding
Transaction Filed
Registration of a charge (MR01)
Persons entitled
  • Industrial and Commercial Bank of China Limited, London Branch
Brief description
Contains fixed charge.
Contains negative pledge.
There have been 5 charges created, 1 for Barclays and 4 for ICBC.
Interestingly, been tweeting to @The Esk and he has the same view as me - one of the charges to ICBC relates to the mandatory payment/stabilisation bank accounts. This whiffs of being stadium related in addition to the 60m revolving credit facility.
May be wrong, but interesting.
Welcome to our new source of dream building money (possibly)!!!
;)
 

There have been 5 charges created, 1 for Barclays and 4 for ICBC.
Interestingly, been tweeting to @The Esk and he has the same view as me - one of the charges to ICBC relates to the mandatory payment/stabilisation bank accounts. This whiffs of being stadium related in addition to the 60m revolving credit facility.
May be wrong, but interesting.
Welcome to our new source of dream building money (possibly)!!!
;)
Is this good or bad mate?
 
Debt is the future ..... You have to have so much debt that the banks simply cannot close you down
 

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