Finch Farm Sold

[Bluesnapper]

Of course it is. The original article makes it sound like the club were in a precarious position regarding Finch Farm, when that's not the reality.

If the company that owned FF went into liquidation has nothing whatsoever to do with EFC, the Echo's interpretation of the law after that happened is down to the Echo and again nothing to do with EFC.

I find it amusing that club officials can deduce what the thought process of two companies re garding land ownership is but cannot get the story right regarding its 'own land' at Everton Place. You cant make it up!

 

[BoysInBlue]

In the mean time three important questions go unasked:

Why did Everton and the city council sit on the news it had been bought?
Why did Everton not attempt to buy it?
Why did the council lower the rent when there was no need to (financially speaking)?

Hey Lou, why did those important questions go unasked and what are the answers ?

http://news.xinhuanet.com/english/sports/2013-03/29/c_132269636.htm

The deal could be in breach of EU State Law, if a similar case on-going involving PSV Eindhoven & Eindhoven City Council is anything to go by.

 

[BoysInBlue]

Who's arsed?


"KENWRONG OUT FFS WHERE'S THE ARTETA MONEY BILL?'.


Will this make any difference to anything? No.

Wrong. Worst case scenario:

- The deal gets investigated by the European Commission.
- The deal gets found to be illegal, falling foul of EU State Law.
- LCC are unable to purchase Finch Farm as a result.
- Finch Farm then automatically becomes the property of the Crown, as a result of Hudson Capital Properties being liquidated, who then sell to the highest bidder.
- Someone else buys Finch Farm and bumps up the rent.
- We can no longer afford the new rent.
- We no longer have a training ground.

It definitely does matter.

 

[BoysInBlue]

Of course it is. The original article makes it sound like the club were in a precarious position regarding Finch Farm, when that's not the reality.

Everton weren't in a precarious position, but Hudson Capital Properties was. Everton being unable to take out a £12.9m loan over 25 years - but a cash-strapped local council being able to do so - makes Everton look really bad, especially when you consider how much money is swimming around in football every year. It's not exactly a newsflash, but it's bad press Elstone didn't want. Plus he likely didn't want a light shone on the deal, given the on-going investigation in Holland over a similar municipal deal that may have an impact on the legality of the Finch Farm deal. Basically lots of people (including Blues) do not feel the council should be bailing Everton out of their continued financial incompetence. If you can't afford something, SELL IT. If you can't find a buyer, DROP YOUR ASKING PRICE. It's really quite simple economics.

 

[formerly manx toffee]

Everton weren't in a precarious position, but Hudson Capital Properties was. Everton being unable to take out a £12.9m loan over 25 years - but a cash-strapped local council being able to do so - makes Everton look really bad, especially when you consider how much money is swimming around in football every year. It's not exactly a newsflash, but it's bad press Elstone didn't want. Plus he likely didn't want a light shone on the deal, given the on-going investigation in Holland over a similar municipal deal that may have an impact on the legality of the Finch Farm deal. Basically lots of people (including Blues) do not feel the council should be bailing Everton out of their continued financial incompetence. If you can't afford something, SELL IT. If you can't find a buyer, DROP YOUR ASKING PRICE. It's really quite simple economics.

Who is bailing everton out mate ?

Clearly I am failing to understand here.

 

[Foot Long Hot Dog]

Wrong. Worst case scenario:

- The deal gets investigated by the European Commission.
- The deal gets found to be illegal, falling foul of EU State Law.
- LCC are unable to purchase Finch Farm as a result.
- Finch Farm then automatically becomes the property of the Crown, as a result of Hudson Capital Properties being liquidated, who then sell to the highest bidder.
- Someone else buys Finch Farm and bumps up the rent.
- We can no longer afford the new rent.
- We no longer have a training ground.

It definitely does matter.

Oh behave yourself ffs, doom mongering on a scale previously thought impossible.

The council bought the place as a safe investment using cash reserves, no amount of **** stirring by those desperate to find wrong doing is going to 'uncover' anything but a property investment.

Even if your doomsday scenario unfolded & a new owner ended up taking over the freehold, the lease needs to be affordable to the sole occupant, wtf would someone look to buy it & make it unaffordable & beyond it's market value, thus losing it's specialist occupant?

I wonder about the mindset & agenda of some of our fanbase at times, I really do.

 

[pfim]

Wait a minute, are you saying Elstone found the investor for Finch Farm? If that's the case, hopefully he can find one for the club.

And, exactly what is the risk in a training ground anyway??

1. Yes, Finch Farm Ltd. (ROM)

2. Ask Finch Farm Ltd., they couldn't make the numbers work.

 

[peteblue]

Wrong. Worst case scenario:

- The deal gets investigated by the European Commission.
- The deal gets found to be illegal, falling foul of EU State Law.
- LCC are unable to purchase Finch Farm as a result.
- Finch Farm then automatically becomes the property of the Crown, as a result of Hudson Capital Properties being liquidated, who then sell to the highest bidder.
- Someone else buys Finch Farm and bumps up the rent.
- We can no longer afford the new rent.
- We no longer have a training ground.

It definitely does matter.

Sounds like a great business plan. Pay more money for a football training facility, drive out the only premiership club that wants to use it, then what turn it back into a farm.......we're doomed.......

 

[Moomin]

1. Yes, Finch Farm Ltd. (ROM)

2. Ask Finch Farm Ltd., they couldn't make the numbers work.

1. It was Keith Wyness who done that deal with ROM actually.

2. I think it may have been other ventures which made Hudson Capital go pop, not Finch Farm.

Anyway, Finch Farm was not a good deal for us, it was the only deal for us.