£60 Million Chinese Deal?

[The binman chronicles]

You bought your house with an overdraft?

Not quite but my overdraft could at least fund a deposit for one...

I posted before reading the article, I now see the errors of my ways.

A thousand apologies.

 

[LouReedwalkonthewildside]

If we dip into it we pay interest?

 

[bluestevon]

No it's a credit facility not actually extra income. Just means we can buy players before needing to sell to finance them. Then when we sell we can pay it back

Ahhh missed the bit which stated that the loan can only be paid back by money gained from player sales rather than from other sources

 

[DownOnTheUpside]

 

[ianefc]

No it's a credit facility not actually extra income. Just means we can buy players before needing to sell to finance them. Then when we sell we can pay it back

Or it can be paid back with other revenues that will no doubt increase as time moves on.

 

[Woolly Blue]

Basically allows us to spend more and stay within FFP then??

Nothing to do with FFP really mate, it's more about managing cashflow.

 

[Kal El]

If we dip into it we pay interest?

 

[ianefc]

Ahhh missed the bit which stated that the loan can only be paid back by money gained from player sales rather than from other sources

Exactly.

 

[d4kyxx]

Ahhh missed the bit which stated that the loan can only be paid back by money gained from player sales rather than from other sources

Whichever way it still has to be paid back

 

[mutley]

Does this mean Mosh aint a sugar daddy ?

 

[Goat]

Its a rainy week fund, thats all.

On the other hand im sure the rates are disgustingly low, plus it gives us massive exposure in China, I would imagine some sort of sponsorship deal in the not so distant future.....

The ICBC Stadium!! ( soon )

 

[everton2004]

Dreading Dave getting hold of this.

 

[LouReedwalkonthewildside]

Ahhh missed the bit which stated that the loan can only be paid back by money gained from player sales rather than from other sources

Still would imagine there will be interest to pay as well?

 

[ianefc]

Whichever way it still has to be paid back

Shock horror. No one said it didn't. The biggest club in this country are in debt to the tune of £550m, it's about managing it.

 

[johnnydawg68]

So we are basically pre approved for a massive credit card?

I'm going back to the transfer thread, no offence.

It's a line of credit. Total common sense. Basic finance, but when we were skint stuff like this wasn't really on offer. It gives us a lot more flexibility, while being totally predictable.