Moshiri on Jim White show on TalkSport today....

[Jebus_lives]

"I'll give Everton all I have".

Feels like it doesn't it?

Sounds like a statement of future intent rather than what's already happened....

 

[davek]

"We needed a strong balance sheet so I paid off the debts. We are now very flexible financially. We need a big stadium, no question about it. We have done the hard bit because the club was restricted to move or expand Goodison by banking covenants but I have paid the debts so we are free to do what we want and we have the finances to do it"

An analysis of what he's said - if he'd just transferred long term debt to short term debt to remove the restrictive covenants then he could not claim (i) to have a strong balance sheet as the BS would not change, and (ii) the use of the word 'debts' rather than 'debt' suggests both long and short term debt.

As you know I have maintained for some time that the long term debt had been paid. He has gone further today and I look forward to further confirmation.

So the club is debt free then and the AGM will confirm this? I suppose we'll soon see whether that was imprecise language or whether he was being literal.

I somehow doubt it's the latter.

 

[Neiler]

"We needed a strong balance sheet so I paid off the debts. We are now very flexible financially. We need a big stadium, no question about it. We have done the hard bit because the club was restricted to move or expand Goodison by banking covenants but I have paid the debts so we are free to do what we want and we have the finances to do it"

An analysis of what he's said - if he'd just transferred long term debt to short term debt to remove the restrictive covenants then he could not claim (i) to have a strong balance sheet as the BS would not change, and (ii) the use of the word 'debts' rather than 'debt' suggests both long and short term debt.

As you know I have maintained for some time that the long term debt had been paid. He has gone further today and I look forward to further confirmation.

A strong balance sheet would enable financing a new stadium, also the free hold on Goodisom issue in the PRU deal needed to be satisfied.

There is a clear rationale and pathway there for future indications of progress especially on the new ground is my take, exciting stuff.

 

[The Esk]

So the club is debt free then and the AGM will confirm this? I suppose we'll soon see whether that was imprecise language or he was being literal.

I somehow doubt it's the latter.

I've explained the literal position. I was aware and published about the secured debt months ago, I have not been able to ascertain on the short term debt - yet.

One other thing, not only is the club free of covenants but Moshiri is now free to go beyond 49.9%.

Interesting times

 

[ToffeeTim]

If it's just been transferred to long term debt then it would still be on the balance sheet. So I expect significant reduction in that regard.

He's stuck his neck out so up to him to deliver on what he's said. He talked a good game like many at the club do, but for once I didn't feel I was being bluffed.

Time will tell and words alone are meaninglessness but I'm feeling a little more optimistic after today.

 

[ultra]

I've explained the literal position. I was aware and published about the secured debt months ago, I have not been able to ascertain on the short term debt - yet.

One other thing, not only is the club free of covenants but Moshiri is now free to go beyond 49.9%.

Interesting times

What makes you say this? (I hope it's true, btw...)

 

[The Esk]

One other thing, the short term debt facility (if used) is costed at a rate significantly lower than the previous 8%.

That reflects the increase in broadcasting revenues and award payments from the Premier League.

I'm not at liberty to disclose the rate.

 

[The Esk]

What makes you say this? (I hope it's true, btw...)

One of the restrictive covenants on the long term debt related to change of control, thus Moshiri did not want to go beyond 49.9% before repaying long term debt.

 

[blulouie]

I've explained the literal position. I was aware and published about the secured debt months ago, I have not been able to ascertain on the short term debt - yet.

One other thing, not only is the club free of covenants but Moshiri is now free to go beyond 49.9%.

Interesting times

Forgive my ignorance , is this the trigger to take up the option on further shares ? Or would it be more to do with assurances
of funding for the proposed new stadium ?

 

[griffla]

Moshiri, all sounds very positive to me, thought as much since he arrived.
Surprised some remain sceptical but I suppose it's hard to believe good things can happen to Everton, especially if you've been on this crazy train for as long as me

 

[scratchnsurf]

Are you ever happy David?
Can we, your forum Friends, club together and get you a brass and some lemo?
Might cheer you up a bit. For an hour at least. Let us know mate.

You believe the club is debt free. I'm just addressing that mate. The club aren't. The AGM will clear that one up.

Well, he hasn't refused the offer so I'd say we're good to go.

 

[The Esk]

Forgive my ignorance , is this the trigger to take up the option on further shares ? Or would it be more to do with assurances
of funding for the proposed new stadium ?

We don't know mate what the terms are for exercising the options.

 

[Aar_the_Toffees]

I hope he doesn't start acting like that mekon that ran QPR and ended up sitting with the fans behind the goal .......
Actually I do , would love to see him in the midst of The Lower Gwladys as Firminio slots the 4th on Dec. 19th !

Haha. It would actually be really funny if they scored four own goals.

 

[blulouie]

We don't know mate what the terms are for exercising the options.

Thanks.
We've waited best part of 20 years for this change , a little longer wont do us any harm.

 

[Toffeemeister]

If true that is great news about the debt!

When would he have payed it off and why have Everton not mentioned we are debt free ?!!