£60 Million Chinese Deal?

[The binman chronicles]

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.

Before it used to be to pay off the debt we ran up the season before to keep the wolf from the door. Probably covering things like wages. I hope this is purely just a transfer dip-in fund until the TV income is paid out.

 

[hibbo'sclass]

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.

I know mate - was on my phone which doesn't let you go in as such so just saw charge, saw the date and put 2 and 2 together getting 467!!!

I'm a tit.

Went into it on PC and it uses similar language in the summary as GPSL/EIL did.

Not going to make a bigger fool of myself so saying nothing!!!

 

[Tubey]

Before it used to be to pay off the debt we ran up the season before to keep the wolf from the door. Probably covering things like wages. I hope this is purely just a transfer dip-in fund until the TV income is paid out.

Yeah, that's the "hope". But... you know... Everton.

Actually, the hope is it's simply paid off by Moshiri every year. Or something, I dunno, I don't know the

about how such funding works. But when you see Everton spend big money and then suddenly news comes out about a lending facility, then it's hard not to connect the dots given our history.

 

[maccavennie]

It isn't ICBC - I'm a tit!

Your not a tit at all mate, always posting excellent information on here. If my pea sized brain actually worked I'd probably understand more about the accounts and what's posted by good folk like yourself

 

[hibbo'sclass]

Your not a tit at all mate, always posting excellent information on here. If my pea sized brain actually worked I'd probably understand more about the accounts and what's posted by good folk like yourself

I am a prize tit mate - instead of looking properly on my PC, I peed myself and knee-jerked.
Will now try and work out why Barclays need a fixed and floating charge on property.
Sad life I lead!

 

[Duncan Disordely]

I know mate - was on my phone which doesn't let you go in as such so just saw charge, saw the date and put 2 and 2 together getting 467!!!

I'm a tit.

Went into it on PC and it uses similar language in the summary as GPSL/EIL did.

Not going to make a bigger fool of myself so saying nothing!!!

lol Definitely not

 

[roydo]

I am a prize tit mate - instead of looking properly on my PC, I peed myself and knee-jerked.
Will now try and work out why Barclays need a fixed and floating charge on property.
Sad life I lead!

My limited understanding would be a fixed charge is on tangibles, like bricks and mortar, a floating would be on variable valuables, like player values.

 

[Woolly Blue]

Not going to make a bigger fool of myself so saying nothing!

Your not a tit at all mate

I am a prize tit mate

LOL
I'm with hibbo here, he's a tit, but a true gent with it !

 

[Blue_Berry]

Yeah, that's the "hope". But... you know... Everton.

Actually, the hope is it's simply paid off by Moshiri every year. Or something, I dunno, I don't know the

about how such funding works. But when you see Everton spend big money and then suddenly news comes out about a lending facility, then it's hard not to connect the dots given our history.

Mate I completely understand scepticism, given we are, yanno, Everton. But Moshiri is a completely different gravy to Gregg, Wyness, Kenweight et al.

This appears to be a commercial deal which has real benefits. The facility is a 'nice to have. Debt is good, in the right hands.

 

[a bell maul]

It's a working capital facility...no big deal imo

 

[hibbo'sclass]

My limited understanding would be a fixed charge is on tangibles, like bricks and mortar, a floating would be on variable valuables, like player values.

Weird thing is that Barclays already have a specific charge against bank balances and a floating charge from 2002/2003 from memory.
PL rules do not allow the use of player registrations to be used as security.
Given my underwhelming performance this evening, will wait to see the redacted detail before any further assertions.
Embarrassed here!

 

[Woolly Blue]

Or something, I dunno, I don't know the
about how such funding works. But when you see Everton spend big money and then suddenly news comes out about a lending facility, then it's hard not to connect the dots given our history.

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.

 

[hibbo'sclass]

LOL
I'm with hibbo here, he's a tit, but a true gent with it !

Er, is that a back-handed complement?

 

[Woolly Blue]

Er, is that a back-handed complement?

It's more of a compliment really mate.
You're having a 'mare here.

but I still love ya

 

[hibbo'sclass]

It's more of a compliment really mate.
You're having a 'mare here.

but I still love ya

Thank you for your help and support during this difficult time.