Are we bankrupt?

Number_25 · January 17, 2009

Thinking about the late 1990's and early 2000's, we were in financial [Poor language removed].
With the lack of signings coming in I'm wondering are we still in the [Poor language removed] when it comes to finances?

Discuss

Number_25

Reidy's Bottle Of Grecian · January 17, 2009

no , of course we arent, did you not hear, a flock of golden seagulls [Poor language removed] their golden deposits on the car park. all we had to do was scrape it up and weigh it in.
ffs, are we skint.

Goat · January 17, 2009

Moyesy says: "There's nothing to report at the moment. Obviously we are working hard and looking to see what is available but I keep seeing things linking us with buying whoever and whoever - but I have let it be known that at the moment there is no cash and we will be loaning players. If they are not loanable then they are not gettable at this present time for Everton.

Animal Farm · January 17, 2009

All loans are being paid on time so we are nowhere near going bankrupt.

But we are in a bad financial state. We are in about 70million pound debt and have very little assetts, allthough we do apparently have a 30million pound overdraft.

Any transfer funds come from loans or the sale of existing players. We cannot afford to take out anymore loans because we would not be able to pay the loan payments back.

Number_25 · January 17, 2009

Animal Farm said:
All loans are being paid on time so we are nowhere near going bankrupt.

But we are in a bad financial state. We are in about 70million pound debt and have very little assetts, allthough we do apparently have a 30million pound overdraft

Any transfer funds come from loans or the sale of existing players. We cannot afford to take out anymore loans because we would not be able to pay the loan payments back.

2000/2001 said we're in only £30m debt. That was when Johnson was in charge. How the [Poor language removed] have we increased that into £70m!

Kenwrong out.

Reidy's Bottle Of Grecian · January 17, 2009

Number_25 said:
2000/2001 said we're in only £30m debt. That was when Johnson was in charge. How the [Poor language removed] have we increased that into £70m!

Kenwrong out.

servicing the debt and the state we were left in, even the anti kenwrighters have to say that no matter how they reckon bill may have got the club, if we'd been left in the hands of johnson then what wouldve happened to us.
we are in a bad state financially but we could be a lot worse off, if we'd been able to borrow more money at that time, around the same time that a certain leeds united were doing it, then we could well have been playing them in a now annual league game.

davek · January 17, 2009

You know, leaving B**l K*******t out of this for a second, we do have a fantastically wealthy man in the Everton boardroom: Robert Earl. He's no billionaire, but he is worth a tidy £150M and his HardRock Cafe is expanding under a new name last time I heard. Maybe lines of credit could be extended from that source? (y)

GrandOldTeam · January 17, 2009

No, I checked when worked for Insolvency service

Robin Sisland · January 17, 2009

davek said:
You know, leaving B**l K*******t out of this for a second, we do have a fantastically wealthy man in the Everton boardroom: Robert Earl. He's no billionaire, but he is worth a tidy £150M and his HardRock Cafe is expanding under a new name last time I heard. Maybe lines of credit could be extended from that source?

Being worth a given amount and having that amount to spend/lend out are two very different things.
That £150m will be the sum total of the nominal value of the assets he holds, like his stake in the Hard Rock chain, not how much cash he has in bonusbuilder account.

And for us to be bankrupt, whoever we owe money to would have to be sure that we would not be able to meet the interest payments out of our incomings. Which is always possible, if for example the next round of TV rights goes for substantially less than the last one, as seems pretty certain.

davek · January 17, 2009

Robin Sisland said:
Being worth a given amount and having that amount to spend/lend out are two very different things.
That £150m will be the sum total of the nominal value of the assets he holds, like his stake in the Hard Rock chain, not how much cash he has in bonusbuilder account.

And for us to be bankrupt, whoever we owe money to would have to be sure that we would not be able to meet the interest payments out of our incomings. Which is always possible, if for example the next round of TV rights goes for substantially less than the last one, as seems pretty certain.

I see. In that respect, then, he's just another chocolate teapot.

TsarDiniyar · January 17, 2009

Are we dancer?

Slight_Return · January 17, 2009

Some debt was renegotiated wasnt it? ie, the former long term debt was added too and the duration of the payments also increased? finch farm was built. bellfield is still an asset. but the over riding factor in all of this is, that the value of the squad has been increased. assets like lescott, arteta, yakubu, pienaar, fellaini, jags, howard. all had to be bought at some point, that we bought and player prices seem to be on the rise means we are in a position of strength. This coming summer should see valente and meyde off the books, and possibly castillo - freeing up cash from the wage structure or simply meaning there is space for new faces on said wage bill.
Its all too easy to get hung up on the fact the debt has increased, but banks have been happy to facilitate that because of the increased league and tv monies.

Heres a question for you, lets say their numbers were spot on regards kirkby providing an extra £10 mill a season for moyes, what do you want most? to see moyes get the players he wants or to continue to see the back of a set of pillars.

There is no mid ground, so choose.

Nebbiolo · January 17, 2009

Slight_Return said:
Heres a question for you, lets say their numbers were spot on regards kirkby providing an extra £10 mill a season for moyes, what do you want most? to see moyes get the players he wants or to continue to see the back of a set of pillars.

There is no mid ground, so choose.

It's a loaded question, SR. How about this:

Supposing that location X in Lancashire/North Wales/Wirral/St. Helens would provide an extra £20m in revenue. What do you want most, Moyes to get the players he wants or for us to continue to seek a Kirkby move?