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Everton almost  £1billion in debt 😱😱😱

 

John Textor, Sixth Street or any other American investor will not take over Everton with their current debt issues, according to The Athletic. 

The outlet reported online on Monday (3 June) that it is unlikely any “American white knight” will ride to the Toffees’ rescue following the collapse of 777 Partners’ takeover whilst they possess debts of almost £1billion.

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16 hours ago, Elwood P Dowd said:

Everton almost  £1billion in debt 😱😱😱

 

John Textor, Sixth Street or any other American investor will not take over Everton with their current debt issues, according to The Athletic. 

The outlet reported online on Monday (3 June) that it is unlikely any “American white knight” will ride to the Toffees’ rescue following the collapse of 777 Partners’ takeover whilst they possess debts of almost £1billion.

Sounds like a good way for Marinikas to dispose of money earned by his “special goods “.  Watch him dump his feeder club and dive in there. 

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17 hours ago, Elwood P Dowd said:

Everton almost  £1billion in debt 😱😱😱

 

John Textor, Sixth Street or any other American investor will not take over Everton with their current debt issues, according to The Athletic. 

The outlet reported online on Monday (3 June) that it is unlikely any “American white knight” will ride to the Toffees’ rescue following the collapse of 777 Partners’ takeover whilst they possess debts of almost £1billion.

Half of that on near enough is Moshiri personal loans funded by his non tax, very insolvency forgiving Isle of Man company.  The laws of their insolvency are tightening up however in line with mainland UK.  Basically, they're saying write off half the debt and we'll bring in the horse to sort out the rest before 2025 hits.  I expect they'll get that but with him retaining a small stake as part of the write off. 

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On 03/06/2024 at 21:28, Elwood P Dowd said:

Everton almost  £1billion in debt 😱😱😱

 

John Textor, Sixth Street or any other American investor will not take over Everton with their current debt issues, according to The Athletic. 

The outlet reported online on Monday (3 June) that it is unlikely any “American white knight” will ride to the Toffees’ rescue following the collapse of 777 Partners’ takeover whilst they possess debts of almost £1billion.

…and yet it’s expected that PL clubs will vote through a proposal from Villa that the amount of acceptable annual losses should be increased by 30%

For the sake of their fans I’d hate to see any club go bust, but it really needs a big name such as Everton to go down the pan before the authorities will be forced to bring in some proper control or completely change the model. For example, they could scrap the sustainability rules but also stop the’ loans’ - if the owner wants to gift part of their fortune to the club, then fine, but do it in the understanding that the money ‘invested’ is non recoverable….

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Unsurprisingly, Villa are amongst 6 Premier clubs, the other 5 being forest, fester, Everton, Newcastle and Chelsea, who need to sell players before the June 30th deadline, to comply with FFP.

It shouldn't come as a surprise to them that between them they need to offload tens of millions of pounds worth of players and that there are a limited number of clubs out there with spare funds available from their 23/24 accounts year. It's going to be a buyers' market out there and teams like forest should realise that they're going to struggle to get what they want for these players or will have to let go players that they would rather keep. 

Now the Premier League have set a precedent, maybe they will think that a £35m excessive loss is worth a 4 point penalty, if it means keeping a top player.

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Go on then - who can pick the bones out of this word salad

https://www.premierleague.com/news/4034099

Quote

 

At the Premier League’s Annual General Meeting today, clubs agreed to trial an alternative League-wide financial system next season (2024/25) on a non-binding basis. 

The existing Profitability and Sustainability Rules (PSR) will remain in place, but clubs will trial Squad Cost Rules (SCR) and Top to Bottom Anchoring Rules (TBA) in shadow. 

This will enable the League and clubs to fully evaluate the system, including the operation of UEFA’s equivalent new financial regulations, and to complete its consultation with all relevant stakeholders.

The overall system aims to improve and preserve clubs’ financial sustainability and the competitive balance of the Premier League, promote aspiration of clubs, facilitate a workable alignment with other relevant competitions and support clubs’ competitiveness in UEFA club competitions, while providing certainty and clarity for clubs, fans and stakeholders.

SCR will regulate on-pitch spend to a proportion (85 per cent) of a club’s football revenue and net profit/loss on player sales.

TBA is a League-level anchor linked to football costs, based on a multiple of the forecast lowest central distribution for that season. It is designed to be a pre-emptive measure to protect the competitive balance of the Premier League. This protection is intended not to have an impact unless significant revenue divergence of clubs occurs.

 

 

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