in the guardian this wednesday

[davek]

That is a fine question. Disregarding the value of the actual playing staff that are contracted to Everton, we should consider how much we stand to lose in terms of assets if we do not get the go ahead 3 miles from Goodison at Kirkby. A club with adequate corporate facilities is obviously more attractive to a would be buyer than the state of what we have currently. .

Apparently not: Portsmouth - stadium to build, higher debts than Everton, lower turnover.

And that is not paying any due to the lost revenue on match days because our current stadium cannot cope with demand, either in terms of staffing, or delivering the quantities of goods from kiosks built in the stone age. A nice shiny stadium that Everton own with no obstructed views would be a serious step forward off the actual playing field. And wherever it is if it only contributed an extra £2 million a season to the transfer kitty, then its an extra Pienaar, Cahill or Arteta a year if the Boss stays true to form.

Servicing the existing club debts + the likely £80M to £100M debt run up funding the new stadium will take precednce over trifling matters like squad building. Of course, we might get that donor Bill's been looking for to help us out.

 

[SuitsBlueX2]

So which 'K' are you against most?

 

[davek]

So which 'K' are you against most?

davek. This is all self loathing this mate.

 

[lordyefc]

Thanks for your work in amending that debt figure. As for the securitisation deal, I remember the Leeds case where they used theirs (£60M) to buy players during the 'living the dream' period. So we clearly know what happened there. What did our £30M go on? Clearing debts? I know at the time it was trumpeted as a way of funding the academy, but we dont own the academy do we? Buying players? I think Moyes' relative onfield success plus the Rooney sale pretty much takes care of this spending since 2002.

I'm pretty sure the "securitisation deal" was just swapping one form of debt (unsecured overdraft) for another (debt secured against assets and future income), the latter being cheaper and more stable (the bank has no right to demand instant repayment unless we default on a payment). Maybe there was some extra cash borrowed and spent at the time, I don't know.

I know you want a simple answer on where the money went, but financing is a bit more fluid than that. Some probably went on existing debts, some probably on players etc, some on the academy. My recollection (which could be wrong) was that we paid for the academy ourselves, and then at a late date did a sale and leaseback with a bank.

 

[chicoazul]

Apparently not: Portsmouth - stadium to build, higher debts than Everton, lower turnover.



Servicing the existing club debts + the likely £80M to £100M debt run up funding the new stadium will take precednce over trifling matters like squad building. Of course, we might get that donor Bill's been looking for to help us out.

Hello there!

 

[Neiler]

Hello there!

Lold!