davek
Player Valuation: £150m
Good work mate.
It's secured then.
So much for all the talk about how this Chinese lot see us as having such an excellent credit rating one weren't required.
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It's secured then.
So much for all the talk about how this Chinese lot see us as having such an excellent credit rating one weren't required.
CRIMHEAD
Player Valuation: £40m
What asset is it secured by, then? Love to read the answer to this one.
The dude who worked for E&Y and Deloitte is apparently a dodgy accountant, the biggest bank in the world is shady, and a perfectly normal line of credit has resulted in 30 pages of posts because someone doesn't understand basic concepts of finance.
davek
Player Valuation: £150m
It's a couple of days that will have given many pause for thought.
There's nothing wrong with dreams about the club's progress mind you - it's what most football fans run on (if they dont follow a financial elite club).
YellowSweat
Player Valuation: £500k
At least we know how we are funding Van Dijk then...
Touche`
ChesterBlue
Player Valuation: £35m
Credit facilities can have the same, or a similar model with vastly different amounts of capital.
Without meaning to be rude, you seem to have massively missunderstood how this facility will work.
Everton will have numerous different accounts, all containing large amounts of capital. This can result in it being difficult to move money from one, to another quickly (i.e. From an account dealing with marketing, to an account dealing in transfers)
The way this credit facility will work is similar to how either an overdraft or credit card works (depending on the clubs usage of the facility) This means that the club can use this credit facility nigh-on instantly, as opposed to having to free up funds - which again - can be time-consuming and inefficient.
This is not taking on an unmanageable debt, this is a clever move by a financial advisor to one of the worlds richest men (Moshiri)
davek
Player Valuation: £150m
Yes, anchored to collateral (along with the soon to be funding for the stadium) and for a fee.
If this club ever got relegated we would sink like a 'kin stone.
ChesterBlue
Player Valuation: £35m
If I take out a credit card and default, then it's going to be anchored to all of my assets - that's how credit works.
Also, do you think if Liverpool, or Man United got relegated they wouldn't sink like a stone? The risk in this credit facility is very low - as you pointed out earlier, United have a credit facility double the size of ours - and if Liverpool went down their owners would jump out of that ship ASAP
davek
Player Valuation: £150m
Thats what I said. And if something intervenes and you cant make repayments you are up against it.
This is massive money we are talking about and we are not a commercial gold mine like United. The stadium spending will be on the club soon enough.
As said: stay in this division or we will be floundering.
ChesterBlue
Player Valuation: £35m
That I will agree with, but I honestly don't see this as a massive risk - the chances of us getting relegated are pretty slim, and we are under good ownership.
I'm CII Qualified, and have nowhere near the financial knowledge that Mosh has, I think that this is a relatively smart move personally - though I do understand your reservations of the fact if we get relegated we will be in trouble
Sentinel
Player Valuation: £8m
That might may well be true. It would also apply to a number of other clubs though, including United.
I think you're right to be cautious and skeptical. But I can't help getting the feeling from your posts that the concerns you raise are from a general distrust and not just specifically Everton related. The game has changed and Everton have to evolve or die. You may not agree with the direction of this evolution, which is fair enough but it's going to happen. My hope is that the financial rewards garnered by the individual major players will mirror successes on the pitch for the club. And ultimately isn't that what it is all about, winning trophies?
Do you propose we don't do things on the off chance we might get relegated ?
davek
Player Valuation: £150m
I do distrust this lot. It pays to distrust whoever is holding the reins of power at Everton because they've all been garbage for a very long time. I have last summer's evidence to go on with Moshiri and the pace the stadium issue is travelling at. I'm unimpressed to say the least.
This summer he has a chance to put that (partially) right.
My mind is still open to believing in Moshiri, but this window just looks same old same old beyond the inevitable spin being orchestrated by Moshiri's army of helpers.
Sentinel
Player Valuation: £8m
The incompetency we've had to suffer as supporters for decades is truly staggering. In a way though it's made us who we are, informed and rightly skeptical. As for Moshiri, history will judge him. If we are to be run via debt successfully, then I don't think it will be too harsh considering the damage that has gone before.
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