And Moshiri walks away with nothing?
hallamblue
Player Valuation: £40m
Correct, same as Hicks and Gillette
Hicks and Gillette had external debt, Moshiri is an Everton creditor in the event of Administration, so Administration is worth more to him than giving his shares away.
Librarian
Player Valuation: £60m
I would have thought that a lot of the debt is ultimately stadium related and would be wrapped up in a mortgage type of refinance in the end
Would they not effectively need to convert their (MSP) debt to equity, keep Moshiri, raise what is needed to complete the stadium maybe 100m or so (that satisfies the PL requirements) and the 777 and R&M debt gets restructured into a more manageable mortgage (would be a lot less than what the stadium is valued at).
Dublin blue 75
Player Valuation: £40m
Entirely deserved.
Are you lending money to a club when its "financial experts" and auditors keep saying its going into Administration?
I mean you get the loan against the Stadium, but what is that Stadium worth, without a tenant?
Librarian
Player Valuation: £60m
The lender would be taking away the very reasons for possible administration and have full control over that possibility.
This will why the club brought in restructuring advisers a week ago and we now know that Bell and co were in talks at that stage
Whether it works or not, I would think that’s the plan.
Imagine the interest rate we get tho.
Its an utter mess, as I said last week, only an oil state saves us at this point.
Sensible ownership and debt restructuring will certainly help, but the amount of debt we have will take a massive chunk out of our pockets for a long time.
Moderatelywarmwater
Player Valuation: £10m
Yep, we’re high risk debt and will be for a while. No 5% loans for us
Librarian
Player Valuation: £60m
What would the debt be at that point though?
Let’s say the 160 owed to MSP is now gone as equity, Moshiri is still in situ so his debt won’t count, the 3rd party put in whatever it takes to finish the stadium and join up with MSP and convert to equity.
That just leaves 777 and R&M and some other small loans. Add that together into a mortgage that’s probably half the value of the stadium. (You still have Goodison to sell)
And we are back to assuming Moshiri is just gonna sit there and watch his 800m "investment" given to somebody else.
I doubt Goodison is worth much.
Librarian
Player Valuation: £60m
For reference
‘’Spurs borrowed £637m from Goldman Sachs, Bank of America Merrill Lynch and HSBC for the £1bn project and the money was due to be repaid by April 2022. But through US investors Levy has converted roughly £525m of the debt into a bond scheme, with staggered maturities of between 15 and 30 years.‘’
‘’Spurs borrowed £637m from Goldman Sachs, Bank of America Merrill Lynch and HSBC for the £1bn project and the money was due to be repaid by April 2022. But through US investors Levy has converted roughly £525m of the debt into a bond scheme, with staggered maturities of between 15 and 30 years.‘’
Librarian
Player Valuation: £60m
A. It’s actually his best bet at the minute of getting any of it back
And B he doesn’t have a choice since MSP have that option to take 51%
It relies on finding a lender, and I suspect our biggest obstacle to that is the flirting with relegation the last 3 seasons more so than anything else
Spurs' total revenue for the year increased by 24% to 549.6 million pounds.
