2011 Accounts

[qprdad]

Thanks qprdad.
We still owe Bernie £10 mill?

Whilst I can't gurantee it, it's very unlikely.

These accounts are up to 31st May 2011 so, prior to the takeover; I'ds have thought that the loans were all repaid in August 2011.

[robloft]

If you read the accounts you will see that we owe all the outgoing shareholders many millions (most via their own companies), howver the payment terms run to the year 2013 which shows a good bit of negotiation by TF when he brokered the takeover deal!

[ollyhoops]

Wow that is a lot of debt.

If we fold in a few years at least we won't be surprised.

[QPRDave]

Whilst I can't gurantee it, it's very unlikely.

These accounts are up to 31st May 2011 so, prior to the takeover; I'ds have thought that the loans were all repaid in August 2011.

Thanks mate I'd have thought they were paid up too.

[TBLOCKRANGER]

Yes to the first bit... a loss of £25m ouch!

Re: liabilities, the total liabilities of the club are £72.775m (this is the liabilities at note 15 and note 16. However, remember, this is the liabilities, without taking into account any assets!.....

The overall deficit, e.g. total assets, less total liabilities is £43.843m.

Evertons debt last year was about the same at £45m, is the premiership really the land of milk and honey?

Talk of new ground and more players could make us the most indebted small club in history. Concern about debt is that it often attracts sharks, if TF or Amit leave I could imagine Craig Whyte making an offer