DeanoAustin
Paul Walsh
The Harry Kane team…
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Everton
- Thread starter Danishfurniturelover
- Start date
Dicko
Pat van den Hauwe
Think I heard something about them still not being able to go crazy with spending until the summer (ie after end of June for new financial year) as they are still close to the limit again for this year. Unless they sold Branthwaite in January or something and spent that money
Considering how much debt they have, I can't see any massive splurges. Just keeping the lights on will be expensive enough.
Friedkin’s first attempt to purchase Everton faltered owing to concerns over the £200m loaned to the club by 777 Partners, one of several companies that have tried to buy out Moshiri in the past 18 months. 777 Partners is involved in a legal dispute with Leadenhall Capital, the London-based asset management firm, in a New York district court.
Those concerns have been alleviated, however, after talks between Friedkin and A-Cap, 777’s principal backer. It is understood Friedkin has an agreement to pay off A-Cap. The company has also agreed a deal to repay some or all of the £225m loaned to Everton by Rights and Media Funding. That loan has an interest rate of 10.25%. Moshiri will be paid off as part of Friedkin’s takeover, although he stands to lose most of his investment in Everton.
Friedkin also loaned Everton £200m during its period of exclusivity with Moshiri, when due diligence was completed on the club’s accounts. That sum paid off £158m of loans from MSP Sports Capital, formerly another prospective buyer, and the local businessmen George Downing and Andy Bell, and enabled Everton to finalise funding for their new stadium. It has to be repaid in the event of a takeover by another party or can be converted into equity should the US company finally end Moshiri’s turbulent reign. Friedkin will loan the club more money to cover day-to-day operations while awaiting regulatory approval on its takeover.
https://www.theguardian.com/footbal...grees-deal-to-buy-everton-from-farhad-moshiri
Friedkin’s first attempt to purchase Everton faltered owing to concerns over the £200m loaned to the club by 777 Partners, one of several companies that have tried to buy out Moshiri in the past 18 months. 777 Partners is involved in a legal dispute with Leadenhall Capital, the London-based asset management firm, in a New York district court.
Those concerns have been alleviated, however, after talks between Friedkin and A-Cap, 777’s principal backer. It is understood Friedkin has an agreement to pay off A-Cap. The company has also agreed a deal to repay some or all of the £225m loaned to Everton by Rights and Media Funding. That loan has an interest rate of 10.25%. Moshiri will be paid off as part of Friedkin’s takeover, although he stands to lose most of his investment in Everton.
Friedkin also loaned Everton £200m during its period of exclusivity with Moshiri, when due diligence was completed on the club’s accounts. That sum paid off £158m of loans from MSP Sports Capital, formerly another prospective buyer, and the local businessmen George Downing and Andy Bell, and enabled Everton to finalise funding for their new stadium. It has to be repaid in the event of a takeover by another party or can be converted into equity should the US company finally end Moshiri’s turbulent reign. Friedkin will loan the club more money to cover day-to-day operations while awaiting regulatory approval on its takeover.
https://www.theguardian.com/footbal...grees-deal-to-buy-everton-from-farhad-moshiri
I’d imagine they will use the loan to buy work around to delay any transfer fee.
You'd still pay a loan fee. Probably at the same rate as what the amortisation cost would be. Loan to buy doesn't really save you money if in the end you buy theplayer. Just gives you the option of not buying if they turn out not to be good.
Not sure it's as great a story
- Cost Liverpool (city of) to be stripped of UNESCO world heritage status
- 52K seats, 760M build (current stadium is 39.4K, so only 12K extra seats?)
- Debt is going to be on much higher interest rates
Don't think it's an elite level stadium, probably decent enough for them and long term right move, could be an utter disaster if they were to go down.
p.s. the seeding grass thing in video was really weird? I thought they just bring in new turf/sod in, not plant from scratch?
It's not so much about the number of seats added, it's the improved facilities for the wealthy that will bring in the cash. Plus Goodison is falling apart and would have needed a fair bit of spending as well. The fact that in the future you can actually see the whole pitch from every seat is just an added bonus.
Like I said, it's a good long term move for them, just it's more of keeping pace vs. giving them any kind of advantage, and bricky timing re loans/interest rates/their position in league.
Think West Ham is a really interesting example, much bigger/free stadium, hasn't massively impacted their income
Haven't West Ham practically been giving away tickets to fill it?
Certainly has been some aggressive "packaging"
Modern stadiums are so expensive, for it to work, you have to make it multipurpose (even Madrid copied our model on that) and the club has to be able to grow it's brand/participation significantly.
johnola
Justin Edinburgh
Are you asking me about turf? I was just pointing out I had not heard this stadium build was in progress let alone so far in.
I did not know Liverpool had been a UNESCO site but surely it’s a step in the right direction- this country has enough decay without slapping preservation orders on wastelands.
Lemonade Money
Nayim
At least Levy gives the manager until half time.