I think 800 mill is high, I’d say a bit lower, but WHU have become big earners and don’t have big external debt, it’s a far better business with some natural advantages we don’t have.
Both grounds now are used for security mate, Goodison, BMD and believe if not the land at Finch farm too.
Moshiri is a disaster that’s already happened.
ForeverEverton
Player Valuation: £40m
Correct, the only way I can see the club moving forward again is if someone can clear the debt, I don`t think 777 will do that and if they do, like I say it will be internal from their usual borrower but perhaps that would release the mortgages on all our property.
But we are all in the dark and have no power to do anything...
Would disagree mate, the first team squad could do with £200 mill of investment at a minimum and playing contracts are ending, if you look beyond the summer it’s threadbare - we’re a football club let’s not forget it’s how we make our money. It needs investing in. While the club will also continue to pay for the ground until the end of the year as a capital cost and service, so far 500 mill at least of external debt in interest at not insignificant rates.
We don’t know that we are cash neutral, we haven’t posted a profit since the mid teens and we are facing a PSR charge for our last set of accounts (that haven’t even be released) - it doesn’t stack up does it.
Moshiri will get very little for his interest in Everton. Again I don’t know how different I can say it, if you build something for 700 mill, but borrow the money to it, haven’t paid it back and need to pay interest on it, then it doesn’t hold any value unless it’s gone up in price - Moshiri is essentially selling his debt.
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We lease Finch Farm.
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But own either the land or the buildings mate - can’t remember which, someone told me last week, when I saw a charge against it. I thought we leased the whole thing to.
But own either the land or the buildings mate - can’t remember which, someone told me last week, when I saw a charge against it. I thought we leased the whole thing to.
We did own Finch Farm originally, but, as far as I can remember, we had to sell it to the Corpy and rent it back from them. We may well own the buildings on there, but, they are of very limited value as could only ever be a leasehold investment, so, very difficult to raise any money against, as only a sporting business would have any use for what we have built down there. Realistically that means Liverpool, I think their facilities are already better than Than Finch Farm.
Lads were saying last week, we own the land but the Council own the buildings mate.
777 Partners - Revised Poll Added 07/05/2024
I`m conflicted with 777, perhaps the deal is done with Moshiri as he says but pending the approval of the Premier League. Being part of a group like this really appeals to me, so many positives to sharing scouting knowledge from other countries, 1st dibs on good players in the group, sharing...
Nah, I remember us having to sell the land to Liverpool Corpy and they gave us a very long lease at a reasonable price. I could be wrong, but, it really wouldn't make sense for the Corpy to build state of the art structures on our land, I'm pretty sure the Corpy own the site.Lads were saying last week, we own the land but the Council own the buildings mate.
777 Partners - Revised Poll Added 07/05/2024
I`m conflicted with 777, perhaps the deal is done with Moshiri as he says but pending the approval of the Premier League. Being part of a group like this really appeals to me, so many positives to sharing scouting knowledge from other countries, 1st dibs on good players in the group, sharing...www.grandoldteam.com
Liverpool city council buys Everton's Finch Farm training ground
Liverpool city council has purchased Everton's Finch Farm training ground in a £12.925m deal that will reduce the club's rent on the complex
I trust 777 not a lot mate. If they can’t pay wage bills, miss payments and cant provide audited accounts then they certainly aren’t managing 700 mill in external debt.
The difficulty with capitalising the stadium development is we have been cut off from usual lines of sustainable credit from reputable lenders, they won’t touch Moshiri because he’s toxic and frankly see him as too much of a risk given his own situation. Thus we have been pushed to investment funds and are paying high rates of interest, to continue the development not only that we were desperate so have had no leverage and I imagine have agreed to all sorts - like big penalty clauses if we pay back early.
Two things change with new ownership and when the stadium is built, one is Moshiri drops out of the equation in terms of toxicity and this may open up new lines of credit to get the stadium over the line and two when the stadium is actually finished conversely it will be easier to get credit. Banks and the like are far more likely to lend to a finished stadium then a half finished or planned stadium.
So the clever strategy would be get the stadium over the line and take out one big construction loan for all the debt we have accumulated to build it and pay down R&M, MSP and 777, but negoatiate a better rate on interest with the banks/lenders. This in some way though prob increasing our debt paying penalty clauses - would give the club surreality and stability, particularly if we agreed it long term. The downside is we prob wouldn’t see much upturn from the stadium initially.
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Tony’s Carp
Player Valuation: £40m
All a bit confusing, the council do appear to still own Finch Farm, but there is reference to land at Finch Farm in the R&M charge so we must still own some land there.
I thought the same, but the lads corrected me last week mate, I really don’t know, we defo have a charge against us for some land at Finch Farm, know that for certain.
Save us timothy filiga Cahill
Inshallah
Inshallah
