October 23, 2019, 10:05:03 PM

Author Topic: Kenwright to step down this month  (Read 7770 times)

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March 06, 2018, 02:00:12 PM
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Waltzer



Some of the things we've heard about Kenwright, Moshiri and Usmanov manoeuvres have been mentioned in the same breath. If this is true - does it maybe give some credence to the rest of it?

Think the Usmanov talk is wishful thinking. If this was the long term objective why would we be borrowing money from the council and struggling to get our bit for the stadium, doesn’t make sense to me anyway.


March 06, 2018, 07:35:20 PM
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Waltzer


Neither of those things about the stadium are anywhere near true.

We are neither "borrowing" from the council, nor do we have "our bit" to find?
Have you woke up in 2002 and think we're talking about the Kings Dock?

This is taken from the echo:

'There is a blinkered perception amongst some that Liverpool City Council is paying for Everton’s proposed new stadium at Bramley-Moore Dock.
They’re not.
They’re borrowing money from a Central Government pot, which Everton will pay £6m-£7m interest on every year for 25 years, interest which goes back to the council.'
Mr Moshiri and Everton will be responsible for finding the rest of the money for the stadium which could cost up to £500m.

I didnt make it up im only reading what has already been said, from my understanding it reads that we are borrowing money from the Council or they're borrowing from a Central Government Pot' and were utilising that (280 million to be precise), either way without them as guarantor we dont get the funds.


March 06, 2018, 08:26:24 PM
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Waltzer


You're jumping to massive conclusions there.

The phrase "without them as a guarantor we don't get the funds" is based on zero evidence. This is the best financial vehicle available to us. That is not the same as this being the only financial vehicle available to us.

The central pot the council draws from is interest free and they charge us £6/7m a year for them facilitating it.

So. We are not borrowing from the council. They have facilitated a central government loan.
Nowhere has it ever been suggested that we are struggling to find the additional funds needed.


Its semantics though, we are borrowing money to help fund the stadium, we are paying interest back on this loan. The point I was making is if Usmanov is behind all this why would we need to borrow any money from anyone, he could easily afford to pay for it outright, or set up a loan himself, similar to what Moshiri has done where we pay him back over x amount of years. And surely paying back a 0% loan over 25 years is better than paying back circa 130 million to the council over the same period?

And I did jump to conclusions about us struggling to afford it but Elstone did say:

Robert Elstone, the club’s chief executive, confirmed the funding target “has escalated significantly and has occupied much of our efforts of the past 12 months. The premium for the waterfront site, an ambitious capacity that we will test with more rigour, a design we can all be proud of and the simple but painful impact of inflation, have all contributed to an increased overall cost and a funding target which continues to grow.”

Why would it have occupied their minds for the last 12 months if we had one of the richest blokes on planet earth pulling the strings? It wouldn't, we'd just get it done, but thats my opinion anyway.


March 15, 2018, 05:44:49 PM
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Waltzer