Adman Posted July 19 Share Posted July 19 If they go under, they could take many of their creditors with them. How much do they owe to the building company for the stadium? I'd be pooing life sized bricks if I was them Link to comment Share on other sites More sharing options...
StewieGriffin Posted July 19 Share Posted July 19 Problem's going to be that they're slowly running out of sellable assets. Onana is about to leave, so they've only really got Pickford and Branthwaite left who'd command really big money - they'd probably get £100m for the pair I'd say. Might not be enough... Link to comment Share on other sites More sharing options...
Zatman Posted July 19 Share Posted July 19 Dont think they are getting more than 20 million for Pickford if honest 1 Link to comment Share on other sites More sharing options...
CarryOnVilla Posted July 19 Share Posted July 19 Can someone give a quick summary of their problems? they’re ****, but by how much Link to comment Share on other sites More sharing options...
Davkaus Posted July 19 Share Posted July 19 £100m for that pair would really surprise me, I think they'll be lucky to get £25m for Pickford Link to comment Share on other sites More sharing options...
Davkaus Posted July 19 Share Posted July 19 40 minutes ago, Adman said: If they go under, they could take many of their creditors with them. How much do they owe to the building company for the stadium? I'd be pooing life sized bricks if I was them From what I've read from Everton fans, the stadium is fully paid for, but partially financed by loans, so it'll be some big finance companies that suck up the loss, not the builders Every cloud. Link to comment Share on other sites More sharing options...
Demitri_C Posted July 19 Share Posted July 19 Someone will buy them i think. If **** blose can find a buyer there is hope for anyone Link to comment Share on other sites More sharing options...
sidcow Posted July 19 VT Supporter Share Posted July 19 At this point, you've just got to have a firesale. Get rid of as many first teamers as you can. It's about reducing the wagebill as much as realising big transfer fees. Better to be left with the reserves and get relegated than go bust. Once their outgoings are under control they at least have this year's PL money then 3 years of parachute payments to exist with. And that stadium alone will generate revenues any other Championship team won't be able to get remotely close to. Link to comment Share on other sites More sharing options...
villa4europe Posted July 19 Share Posted July 19 they'll blag £25m for DCL off someone, maybe £15m for that ex burnley winger too Link to comment Share on other sites More sharing options...
ender4 Posted July 19 Share Posted July 19 (edited) 1 hour ago, CarryOnVilla said: Can someone give a quick summary of their problems? they’re ****, but by how much They might owe lots of different parties hundreds of millions of pounds, but that's ok for now. None of those creditors are going to call in the loans, because if they do then Everton goes into administration and the creditors lose the value of their debt. So it's all about keeping the plates spinning for the next 12-24 months until they can move into that new stadium. They can then consolidate the debts against the stadium and future income if needed. In the meantime, they just need to make £50m (net) on transfers each summer which keeps them solvent, lights on and wages being paid. Edited July 19 by ender4 Link to comment Share on other sites More sharing options...
CarryOnVilla Posted July 19 Share Posted July 19 7 minutes ago, ender4 said: They might owe lots of different parties hundreds of millions of pounds, but that's ok for now. None of those creditors are going to call in the loans, because if they do then Everton goes into administration and the creditors lose the value of their debt. So it's all about keeping the plates spinning for the next 12-24 months until they can move into that new stadium. They can then consolidate the debts against the stadium and future income if needed. In the meantime, they just need to make £50m (net) on transfers each summer which keeps them solvent, lights on and wages being paid. Uchhh sounds like a grim situation Link to comment Share on other sites More sharing options...
ender4 Posted July 19 Share Posted July 19 This makes it ermmm clearer? 2 Link to comment Share on other sites More sharing options...
Xela Posted July 19 Share Posted July 19 3 hours ago, villa4europe said: they'll blag £25m for DCL off someone, maybe £15m for that ex burnley winger too We'll buy Iroegbunam back at a discount. Another Mochi masterstroke. Link to comment Share on other sites More sharing options...
Czarnikjak Posted July 19 Share Posted July 19 4 hours ago, ender4 said: This makes it ermmm clearer? £625m in secured loans. Apparently the issue Firedkin had was to do the with A-cap loan. They couldn't/wouldn't restructure it. Link to comment Share on other sites More sharing options...
Lichfield Dean Posted July 19 VT Supporter Share Posted July 19 I have a suspicion that if you peeked inside the box just at the very top you'd find another, much more extensive diagram, and each box inside that diagram would itself lead to more diagrams, each box of which refers to one of the other boxes in an endless recursion. 1 Link to comment Share on other sites More sharing options...
oishiiniku_uk Posted July 20 Share Posted July 20 14 hours ago, ender4 said: This makes it ermmm clearer? Ahh, the beautiful game... 1 Link to comment Share on other sites More sharing options...
trekka Posted July 20 VT Supporter Share Posted July 20 (edited) Unless some knight in shining blue armour comes in to save them, I fear they may well be buggered. Such a shame for an historic club - mismanaged for years and they place all of their hopes on the new stadium to bring up revenue which seems mortgaged/secured loaned up to the hilt. As others have said, time to sell sell sell, take the hit of relegation if needed but remain a club and then slowly rebuild knowing they'll have the revenue from the stadium that they can leverage other funds on. That could have been us once upon a time (not that long ago too) . Edited July 20 by trekka Link to comment Share on other sites More sharing options...
LondonLax Posted July 20 Share Posted July 20 There is a pretty detailed article here about their problems and it doesn’t sound good. Quote To cut a long story short, 777 left quite the trail of disgruntled customers and investment partners. The most disgruntled and frightening of those is Leadenhall Capital Partners, a London-based investment firm that specialises in the insurance industry. In a blistering lawsuit filed in New York in May, Leadenhall accused 777 and A-Cap of fraud. The central claim is that 777 borrowed hundreds of millions of dollars from Leadenhall secured on assets it had already used as security on other loans, most notably from A-Cap. Known as “double-pledging”, it is like you or I mortgaging our house with multiple banks. And, if that is not serious enough, Leadenhall says 777 also used collateral it did not even own to secure loans. https://archive.is/ItO1f Link to comment Share on other sites More sharing options...
Popular Post BG_Villa_Fan Posted July 20 Popular Post Share Posted July 20 Sounds like an alternate reality of us under Xia in the premier league. Ugh. 7 Link to comment Share on other sites More sharing options...
trekka Posted July 20 VT Supporter Share Posted July 20 3 minutes ago, BG_Villa_Fan said: Sounds like an alternate reality of us under Xia in the premier league. Ugh. Yep, it's depressing. We would have been in serious doo-doo had NSWE not come in to save us. I fear Everton have so many financial issues and "hands in the pie" that it would put off similar well-intended owners. We were looking bad back then but Everton are in a right mess with potential lawsuits etc. Terrible. Link to comment Share on other sites More sharing options...
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