But it's not
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But it's not
Yes, I get that it's an "overdraft", but it's effectively the same thing - a line of credit. It is not investment, it's saddling a club with debt?
Again, unless I'm missing something here!
bluestevon
Player Valuation: £80m
It is not anything the same mate.
Vibrac was as dodgy a source as you can get.
This is from one of the worlds largest banks
One shows the club is on it's arse in a terrible state and can only utilise that to borrow money, the other shows the club is regarded as being on very very sound fiscal footing
It's not even a loan. It's a line of credit....good grief. Something we can use if we want, gives a feeling of security to debtors.
I don't understand anything so you are forgiven mate.
Vibrac was a loan, with set payments over the course of the year at an extortionate interest rate. It was used to cover the operations of the business over the summer
The credit facility gives us access to £60m when needed. No loan has been taken out, you only repay when you dip into it
The binman chronicles
Player Valuation: £80m
ICBC = something like HSBC
Vibrac = Mafia loanshark ready to break your legs and set Goodison on fire all for the pricey sum of 300% interest...
Why do you have to use the phrase "saddled with debt'? Companies thrive on debt and in particular liquidity lines such as this. A company becomes 'saddled' when it has no other option and needs it to survive. This so clearly is not the case here. It creates financial flexibility when we need it and gives us an advantage over other clubs who don't have the immediacy of funding when they need it.
Your phrase is unnecessary, inappropriate and misleading..
Because it's a form of debt mate?
If we borrow that £60m, we have to pay that back. So... debt?
That said, I agree with what you say about creating an 'immediacy' to act quickly in the market, but the problem is this is Everton - traditionally, we've taken out loans very much like this to cover the lack of investment from the board.
I'm not an expert on it, but if we needed a £60m overdraft, why didn't Moshiri front the money and have an account that acts the same way? There may be a simple reason, but I just see things like this as deeply suspicious.
Duncan Disordely
Player Valuation: £35m
Says its a Barclays one on CH, could that be related to the SPV? There was talk of more info coming on this this summer.
It isn't ICBC - I'm a tit!
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