New Everton Stadium Discussion

[ultra]

I will be especially interested in the involvement of our shadowy Russian overlord: will USM companies be a major funder or will they be involved in the stadium naming rights?

I will be utterly amazed if they are neither...

 

[bernie inn]

Really? Like whom exactly did they consult?
I'll guess those conservative types with little vision or risk-taking, that will settle for the 50k stadium for their pathetic reasons that suits the Board?[/QUOTE

I have no idea TBH, but I don't think it'll be a full scale consultation across the full fanbase, that's just my opinion and I think panicking the 50,000 number at this point is a little premature.

 

[kithnou]

Great news regarding the future of Goodison Park

 

[ant1878]

i think it is too! surely the fact that Dan Meis fella is already on board and has been for months. Designs must be done or close to done.
and if the council get behind the financing then i cant see them standing in the way when it comes to Planning permission.

maybe im jumping the gun with that but rough ideas the ones you wouldnt dare leave up to sections of our support they must be done! like shape of the stadium Dan Meis' favourite tweet is to say 'we hear what the fans want, and we've took it on board'

 

[Amw79]

So sort of like I thought.
We pay rent in advance each year.
It's only if we default that LCC takes any of these monies?

Well I didn't see anything in there about default. My reading is that the security package is just set up as the standard method of our rental payment to mitigate the risk of an inability to pay.

Just ensures the rent is paid off the back of season ticket sales/naming rights money first and foremost, before we can use it for normal operational cash flow.

 

[TrixyStevens]

Great news regarding the future of Goodison Park

View attachment 35584

Unlike the other lot, who created a ghetto.

 

[Sharpys top lip]

Dont get caught up in the "Have to purchase it after the lease ends". Its a mortgage in spirit, but for the benefit of the parties involved, its technically a lease. That means you have have to write it like a lease. You cant just slap the word "lease" on it and then write it like a mortgage, because if it ever came to court, the court would say its obviously a mortgage. So, part of that is a lease cant end with the person now owning the property outright, unless it has an option to buy at the end of it. That option to buy, MUST, by law have "consideration". That consideration can be $100,000,000.00, or it can be $1. It doesnt matter how much it is, but it MUST be there.

I can almost guarantee you, the option to buy at the end of the 40 years is $1. I work in real estate, albeit in a different country, but most countries real estate laws are based on the same general principles.

Thanks mate, clears it up abit.

 

[Shipped]

Well I didn't see anything in there about default. My reading is that the security package is just set up as the standard method of our rental payment to mitigate the risk of an inability to pay.

Just ensures the rent is paid off the back of season ticket sales/naming rights money first and foremost, before we can use it for normal operational cash flow.

I read it as we can pay the rent, from whatever fund we choose, in advance at the beginning of each year.
Should we fail to do this the SPV has access to our season tickets funds, merchandise etc. as security.
Let's say we pay every year on 30th August, we then have access to the cash flow account to do with as we please until the following 30th August where, as long as we keep paying, the same applies for the following year?
No matter what financial state the club is in when we default the access granted the SPV to our cash flow account will be enough to guarantee the modest (compared to TV money, gate receipts etc.) amount due to the SPV that year.
I've never had cause to try and understand this stuff before though so could be well wrong.

 

[zirc]

Yes we'll be going back into debt but the money we'all be paying out will now be for a new stadium. Our commercial revenues will greatly increase and I would guess the naming rights will mean the £14 million PA cost will be met with ease. It's a calculated risk but one that is easily manageable

People talk about debt like it's poison; there's nothing bad about debt as long as it's manageable. The US government is 20 trillion dollars in debt and their credit rating is still top tier. Debt is fine as long as you can service it.

 

[Amw79]

I read it as we can pay the rent, from whatever fund we choose, in advance at the beginning of each year.
Should we fail to do this the SPV has access to our season tickets funds, merchandise etc. as security.
Let's say we pay every year on 30th August, we then have access to the cash flow account to do with as we please until the following 30th August where, as long as we keep paying, the same applies for the following year?
No matter what financial state the club is in when we default the access granted the SPV to our cash flow account will be enough to guarantee the modest (compared to TV money, gate receipts etc.) amount due to the SPV that year.
I've never had cause to try and understand this stuff before though so could be well wrong.

You may be right. The effect is the same, certain revenue streams only accessible to us, after paying our rent in advance.

It's a great bit of security for LCC, as our season ticket sales alone would cover it in the event of default.

Not hugely risky for us, as I'm sure we've crunched the numbers, but represents us taking on the risk, For a long period.

Very neatly arranged if LCC go for it.

 

[kithnou]

Fan consultation has already been done I think didn't Meis post a Twitter suggesting they had listened? Can't be bothered looking back through the thread

Just seen this. I think the consultation is going to get extensive. Good news if so.

 

[kithnou]

Real good this for us internationals...

 

[James Patrick]

Due to FFP we can't do a City anyway now.The model needs to be a long term sustainable one.

Moshiri I am certain is here for the long haul, he's not in it to make quick few quid he's already done that time and again elsewhere. The leaps this club has made off the field are quite remarkable.

First team coaching staff replaced, wide and expansive scouting network in place, Further development of Finch Farm (Living quarters), Decent investment in playing staff, Record breaking commercial deals, New Ground further down the line than ever before. Such vast sweeping changes are not indicative of someone just passing through.

Stadium development costs are excluded from FFP so he would be allowed to pay for it if he wanted to - he won't though.

 

[Connor]

Still boss.

 

[a bell maul]

He's not going to be manager for 40 years. 'Kin hope not anyway.

I think everyone agrees with you there mate; if only for the reason that nobody wants to hear your moaning and whinging for another 40 years!! lol lol