Chairman on Signings/Finance

[davek]

Everton now borrowing against next seasons revenues from an offshore financial group in order to pay down this years bills and stave off disaster? Colin Fitz over at TW:

"Remember what he said on Sky Sports News this morning? That he was reluctant to saddle the club with further debt on top of the £45m they already owe the banks. Like the “other operating costs” he doesn’t know about he also must not know about the millions they borrowed last week!

Even before a ball has been kicked in anger this season we’ve borrowed millions, not against revenues from this coming season but from the 2012/13 season! That’s not the worst thing though, we all know the club’s business policies mean we have got the proverbial pot; the worst thing is where we have borrowed it from; not from Barclays, not from Investec, not from some minor Scottish bank, no, we now owe millions to a company called Vibrac....a company from the BVI -you honestly couldn't make it up."


This club is going to go under if it isn't selling some of its players very soon. This is the Rooney scenario revisited. We've come full circle back to 2004.

A disgrace.

 

[somuchfun]

What's this about borrowing money from Vibrac, a company registered to the British Virgin Islands, this week against 2012/2013 revenues? (sauce: random post on nsno)

 

[davek]

What's this about borrowing money from Vibrac, a company registered to the British Virgin Islands, this week against 2012/2013 revenues? (sauce: random post on nsno)

Yes, because it'd be a complete bolt from the blue for Everton's board to borrow money against assets wouldn't it?

Are you listening to the chaiman of this club who's confirming the club is financially ****ed, by the way?

 

[somuchfun]

Why a new thread davek?

 

[davek]

Why a new thread davek?

Because it wan't the chairman speaking on it.

Merge if it's a problem like.

*shrugs*

 

[Cash]

We all know that one of the ''banks/lenders'' is Phillip Green. Hes calling his money in & thats that. The banks stopped lending to us years ago. It was Phillip Green who has bankrolled us over the past 7 or 8 seasons behind closed doors. BCR Sports is essentailly Green with earl as the puppet. Wake up.

Green has done Bill a favour and now sees no return so has called his loans in.

 

[Reidy's Bottle Of Grecian]

We all know that one of the ''banks/lenders'' is Phillip Green. Hes calling his money in & thats that. The banks stopped lending to us years ago. It was Phillip Green who has bankrolled us over the past 7 or 8 seasons behind closed doors. BCR Sports is essentailly Green with earl as the puppet. Wake up.

Green has done Bill a favour and now sees no return so has called his loans in.

he doesn't really have any reason to hide the fact that he's loaning the club money, he guaranteed some loans so maybe he's had to cough up that and wants reimbursing.

in fact him loaning the club cash would have painted him in a more positive light, maybe the way that it has been done means the banks can't force the club to directly do anything.