Moshiri Poll Reset: 31/8/16

[Woolly Blue]

Proof, like beauty, is in the eye of the beholder.


Which is a bollocksy way of saying I can't prove a thing.

Incidentally, if Mosh is, for me, a 7/10 then the previous regime is :-

Earl : 1/10, and he's lucky to get 1
Kenwright and Woods : 5.5/10

The old board overall would be a 4 or 5/10

 

[tirion]

If I can clarify for both of you the short term debt.

We arrange a facility through R&M Funding (they're not the lenders, they act as an intermediary for the true lender). In return for the facility we assign the final payments due to us from the Premier League broadcasting income received usually in June. As a result of that assignment the funds due to us are paid directly to the lender who nets off the outstanding balance, clearing the debt and they then forward the balance to us.

In previous years we've then renegotiated a new facility sometime in August and we draw down from that facility as our cash flow requires it.

Exactly the same process has taken place this year - debt cleared from the final payments made by the Premier League and a new facility negotiated in late August.

why would we do that? is it normal business practice for cash flow purposes? or are we financially still in the same position as usual? i.e. a mid table club with bottom of the table finances?

 

[The Esk]

why would we do that? is it normal business practice for cash flow purposes? or are we financially still in the same position as usual? i.e. a mid table club with bottom of the table finances?

Moshiri is an experienced finance man, he's clearly looked at our projected cashflows for the season ahead and determined we require a facility to be used at some point.

 

[ToffeeTim]

No.

And No. (despite the fact he's still involved an' all)

It's just my opinion. I feel this was a Kenwright summer in its nature. No way Martinez would have been here with or without Bill.

 

[tirion]

Moshiri is an experienced finance man, he's clearly looked at our projected cashflows for the season ahead and determined we require a facility to be used at some point.

one more question, are you as optimistic now as you have been all summer? or do you think something is not quite right? (2 questions actually!)

 

[The Esk]

one more question, are you as optimistic now as you have been all summer? or do you think something is not quite right? (2 questions actually!)

I am very optimistic (as ever) about our future prospects. I do think the summer has been poorly planned and poorly executed particularly with regards to transfers and that we need to address this by bringing proper experienced heavyweight footballing people into the business, particularly for the CEO and Chairman positions.

 

[tirion]

I am very optimistic (as ever) about our future prospects. I do think the summer has been poorly planned and poorly executed particularly with regards to transfers and that we need to address this by bringing proper experienced heavyweight footballing people into the business, particularly for the CEO and Chairman positions.

OK Esk, nice one, time to focus on the actual football and get ready for Sunderland

 

[Goat]

OK Esk, nice one, time to focus on the actual football and get ready for Sunderland

Nope, not for another week or so.

 

[bluesnake]

Personally I believe that if Moshiri wwasn't here we would of lost lukaku as well of stones and we would still have martinez in charge. That is a terrifying prospect. It's also proof to me that we are in a better position as a club and things have changed.

 

[davek]

If I can clarify for both of you the short term debt.

We arrange a facility through R&M Funding (they're not the lenders, they act as an intermediary for the true lender). In return for the facility we assign the final payments due to us from the Premier League broadcasting income received usually in June. As a result of that assignment the funds due to us are paid directly to the lender who nets off the outstanding balance, clearing the debt and they then forward the balance to us.

In previous years we've then renegotiated a new facility sometime in August and we draw down from that facility as our cash flow requires it.

Exactly the same process has taken place this year - debt cleared from the final payments made by the Premier League and a new facility negotiated in late August.

Why is this continuing, loaning cash from third parties? We have a billionaire on the board who, presumably, has the opportunity to loan the club money at less exacting interest rates or even none?

 

[tirion]

Nope, not for another week or so.

whatever.

 

[Goat]

whatever.

Stop fuming.

 

[The Esk]

Why is this continuing, loaning cash from third parties? We have a billionaire on the board who, presumably, has the opportunity to loan the club money at less exacting interest rates or even none?

I guess because he has other uses for his own cash/capital. He'll have taken the view that if we borrow £20 million (for argument's sake) between now and next July, assuming we borrowed equally over the course of the year it would cost us around £750,000 in interest payments. Whilst not an insubstantial amount, in a business that will turnover say £150 million it's not a huge expense either.

He may feel his capital is better used in land acquisition and stadium building than further cashflow funding of the business.

 

[nsno-chris]

Cart before horse. The only thing we can do before success on the pitch is to build a stadium. What club around our average league would you want to see matched in terms of comercial income?

No, before the stadium and before the infield success you need an income stream coming through which is sustainable 365 days a year. Our commercial deal is absolutely terrible, and that's what needs to be addressed first

 

[davek]

I guess because he has other uses for his own cash/capital. He'll have taken the view that if we borrow £20 million (for argument's sake) between now and next July, assuming we borrowed equally over the course of the year it would cost us around £750,000 in interest payments. Whilst not an insubstantial amount, in a business that will turnover say £150 million it's not a huge expense either.

He may feel his capital is better used in land acquisition and stadium building than further cashflow funding of the business.

I have to conclude that the figures involved here aren't worth the price that has to be paid in the way Moshiri will be portrayed. It's generating a lot of suspicion that nothing has changed (and on the back of a negative net spend window it has the potential to become toxic for him). You can see the wheels its set in motion now amongst those who keep a keen interest in all matters relating to Everton's finances - and that trickles down VERY quickly to most Evertonians.