Bigmaclad
No mate
Your will never walk alone.
*backs out of thread slowly*
Your will never walk alone.
*backs out of thread slowly*
Loans of the scale we're talking about aren't just done on "what's your credit rating, see what the computer says"
I don't see how, given the way these loans are worked out, we would be unable to borrow money, considering that we have the GUARANTEED large increase in income from the new TV deal next year, and Fellaini as a huge tangible asset that would easily sell in the summer if required. Not to mention the POTENTIAL increase in income if we were to finish top 4.
If it was your money, would you lend it to Kenwright ?
I don't believe that Everton have a bad credit rating or are perceived as a bad risk by banks.
Over the last number of years the club has been run frugally,we have not defaulted and have lived within our means....just.
The most recent set of accounts are disappointing but not really surprising in that last season our turnover was down and consequently wages increased as a percentage of overall costs.I would expect that this year the wage bill will be similar but our turnover from gate receipts etc has increased and wages as a percentage of overall turnover will drop.Next seasons increased money from the television deal would mean that we will be profitable if all other costs and income stay the same and that wages will fall dramatically as a percentage of income.
The real problem at Everton is that we are not owned by wealthy people and the club has to pay it's way.There is no injection of cash from outside during a transfer window to help us sign a player.
I don't believe that Everton have a bad credit rating or are perceived as a bad risk by banks.
Over the last number of years the club has been run frugally,we have not defaulted and have lived within our means....just.
The most recent set of accounts are disappointing but not really surprising in that last season our turnover was down and consequently wages increased as a percentage of overall costs.I would expect that this year the wage bill will be similar but our turnover from gate receipts etc has increased and wages as a percentage of overall turnover will drop.Next seasons increased money from the television deal would mean that we will be profitable if all other costs and income stay the same and that wages will fall dramatically as a percentage of income.
The real problem at Everton is that we are not owned by wealthy people and the club has to pay it's way.There is no injection of cash from outside during a transfer window to help us sign a player.
I don't believe that Everton have a bad credit rating or are perceived as a bad risk by banks.
Over the last number of years the club has been run frugally,we have not defaulted and have lived within our means....just.
The most recent set of accounts are disappointing but not really surprising in that last season our turnover was down and consequently wages increased as a percentage of overall costs.I would expect that this year the wage bill will be similar but our turnover from gate receipts etc has increased and wages as a percentage of overall turnover will drop.Next seasons increased money from the television deal would mean that we will be profitable if all other costs and income stay the same and that wages will fall dramatically as a percentage of income.
The real problem at Everton is that we are not owned by wealthy people and the club has to pay it's way.There is no injection of cash from outside during a transfer window to help us sign a player.
Wrong. I've seen it.
WHAT HAVE I DONE?!
Exactly. You can find this information online for a small fee. When I last looked last year we had a 19/100 rating on one of the most common reference sites which if translated into e.g. a Standard & Poors type rating would leave us unrated/junk.Lenders only start to worry about future cash flows, interest cover etc. IF certain basics are in place. The first basic is the overall balance sheet health and standard debt/equity liability/asset and liquidity ratios. They also consider existing claims against the assets we do have and we already have security against our assets, season ticket revenue and future tv revenue.
EFC have substantial net liabilities and ongoing/recurring losses continue to increase the funding deficit (a horrid ten year trend graph) and seriously unhealthy key indicators across the Board with no robust security to offer.
The only potential sources of funds are dodgy/offshore high interest or the directors themselves/their mates. The latter is not happening. The former just continues to make a big hole bigger.
Financially this Board have asset stripped the club, racking up operating losses and debts. The best that can be said is this has been to fund/retain the present squad and manager rather than for personal gain but the consequences are the same. We live on a financial tightrope with no room to move and with the big increase in tv revenue next season already in effect committed to cover our underlying/ongoing trading losses (driven by a wage bill we cannot afford) and the already committed/still being negotiated contract extensions (driving that wage bill still higher).
At some point we'll have to sell a couple of high earners to reduce this wage bill, address an aging squad and provide some limited flexibility to a new manager to bring in their own players...as Moyes will be gone.
For this window if we hold onto everyone and manage a couple of loans/frees/super cheap deals, one of whom has an impact that is frankly the VERY best we can expect.
We'll sign someone from this list: Etienne Capoue, Yann M'vila, Moussa Sissoko, Steven Defour, Vadis Odjidja-Ofoe, Mohamed Diame, Tello, Landon Donovan.
That's a pretty big list lad.
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