Everton take out new mortgage

[SteveSC]

Its not a MORTGAGE.

Its a BRIDGING LOAN

FFS.

http://www.evertonfc.com//news/archive/2011/09/20/officials-confirm-no-new-lending

Elstone's felt the need to comment. I've taken note he's kept it short and to the point.


Unlike allowing Derek Hatton, to comment on the website, or the "no one's interested" - to - "no one's knocking down the door"



But it is a bridging loan. And there is no new lending, its just a re-negotiation of an informal "overdraft" through borrowing the money in advance in times of low cash flow.

Football is seasonal. But if Everton improved the infrastructure that cashflow wouldn't be squeezed since cashflow would continue 24/7 from these assets - such as Hotels, bar(s), museum, CONFERENCING, EVENTS etc

So we can build the annex now?

 

[Quackerman]

One interesting point to note is that the lending is against next years TV money? What does this mean because I understand that the payments are made in phases so is next 'next years TV money' the part payment of the 2011/2012 money or is it the part payment on the 2012/2013? That is not made clear because one would put us in a lot worse position than the other. The Matt Scott article in the Guardian should not be ignored because this bloke understands and researches sports politics so he is not just your typical journalist rehashing old news.

If the money is borrowed against 2012/2013 TV income then the situation is not good. As with most businesses, when they get so deep in the mire how can they possibly trade out of a bad position like that - it is nearly impossible, therefore with even the most rosiest of rose tinted spectacles on, our position is unlikely to get better without something drastic changing.

Everton FC are bumping along ground financially with no immediate prospect of that changing. At some point the football performance on the pitch will correlate with the performance off the pitch and at that point I worry for the future.