Newcastle Utd and Anthony Gordon

It seems pretty clear that without any new investment over the next 3-4 months, we'll be looking to sell one or two “assets” in the January window.

I would guess the prime candidates would be Branthwaite, Pickford and Calvert-Lewin (if fit) as Onana's higher book value would yield a lower profit than those three.

Although I have read, that as of last week, that loan hasn't yet gone into the club, but that might be untrue, who knows?

Paul the Esk mentioned last week on the County Road Bobblers podcast (an interesting listen - you can find it on the Esk's twitter feed, 8 September) that there remained no evidence of the MSP money having arrived.

Unless Mr Moshiri is putting in more funding for the stadium, then it seems likely that at least part of the money realised from the sales of Gordon, Simms, Iwobi, Cannon, Gray is going in the direction of the stadium - and part going to fund general overhead costs.

Unless this situation changes by Xmas then it's not too difficult to predict what will happen in the last day or two of the January window.

To be honest, I'm not sure. But, depending on which figure we believe, we still need to find £250-350m to complete the new Everton Stadium at Bramley-Moore Dock.

If that money doesn't come from Mr Moshiri or external investor(s), it's difficult to see where else it can come from other than the sale of assets (=players).

Almost certainly these are legally separate entities.

I wonder if the people who don't see a player in Onana are the same who didn't fancy Lukaku or Stones? No player is perfect but best to try and enjoy these young talents while we have them.

You may well be correct. But in your opinion, if Mr Moshiri isn't putting in more investment, we are maxed out on the overdraft and borrowing, and no investment arrives, how do we complete BMD?

We could of course be down the gurgler but I prefer to believe we will be in the new stadium, with new owners and a competitive team.

You used to see...'Xxxxxx' a wholly owned subsiduary of 'Yyyyyy'.

Can anybody provide cast iron proof of just what is the relationship between the 'Club and Owner' financial entity and the 'Stadium' financial entity?

Thomas by name – Doubting is the game. The cynic in me thinks that Moshiri's definition of 'a separate financial entity' is - Any profits (Ha!) from either or both will accrue to the column marked 'Farhad Moshiri Esq' and any debt will appear in the column marked 'EFC Co Ltd'

I know rules may differ between US, UK and Australia – just how much and in what way I've no exact idea.

A number of businesses here have created subsidiaries... Grocery retail expands into Liqour, then home improvement, then for whatever reason, sells them off, sometimes at a 'loss' sometimes for big cash.

Nobody knows; nobody knows what Moshiri wants to get away with... (as much as he can?)... what he thinks he can get away with... (even more than that? or maybe just with the shirt on his back and not tar and feathers?)

Nor for that matter what he actually can or can't get away with...(everything's legal if you don't get caught?)

As always with Everton: more questions than answers.

I wish I could be as positive as you but I think we are close to the edge. The reason all the previous efforts to build a new stadium failed before they started was because we had no one to pump in the money.

Suddenly Moshiri & Usmanov come along and Blue Bill sees a new stadium with a stand with his name on, the Kenwright legacy! If Putin had not have invaded Ukraine, would we now be owned by Usmanov oligarchy money?

Does anyone know how long Usmanov held shares at Arsenal? I have a suspicion David Dien kept him away from the board and was very glad when he pissed off to us!

Derek #16, both the club and the stadium are non-public business entities with no public reporting responsibilities. It's not like they're traded on the stock exchange. So of course no one will provide "cast iron proof" to anyone whose only interest is watching games in the new stadium.

But will they ever sing "we're going to Wembley twice" and "thrice" and be champions of England twice in three years?

My Sheedy, we could do with an Amanda Staveley type, couldn't we, someone who knows how to wheel and deal across borders in today's never mind Premier League but global financial/corporate worlds.

Instead, we have a bulbous walrus, droopy jowls impresario who she ran rings around in the Gordon deal, who belongs in the Peter Swales shaggy sheepskin, Littlewoods Pools, Spot the Ball, cigar and champagne bottle bigger than head, chopper bike, ker plunk, and podgy Franny Lee and muddy pitch era, whose unfortunate and sad personal long-term sickness is an abiding metaphor for his far too long time at our helm and the sick state he has plunged us into.

Once again – pure speculation on my part but some "entity" somewhere will have already run the numbers on completing the stadium and buying Moshiri out – provided we are not relegated.

If I am correct they will step in when we reach safety.

I have decided it is better for me to be optimistic rather than pessimistic about this.

There are five subsidiary companies listed:

● Goodison Park Stadium Ltd
● Everton Investments Ltd
● Everton Football Club Women Ltd
● Everton Stadium Development Ltd
● Everton Stadium Development Holding Co Ltd

Together with the umbrella Company, Everton Football Club Co Ltd, they are referred to collectively in the Accounts as the Group.

It's stated that: The Company directly owns 100% of the ordinary share capital of all the subsidiary companies.

If you have any inclination to go through the accounts, you'll see they are sometimes split, showing Group and Company numbers; then they are combined as "Group and Company".

When it comes to Borrowings the numbers quoted for the Group and the numbers quoted for the Company are identical.

To me, this would appear to counter some of the claims made above by Mr Gaynes. It's tempting to say on this basis that they appear to be one entity at the end of the day — but I'm no accountant!

When it comes to paying for the new Everton Stadium:

The Group has a fixed-price contract for the development of the new stadium. The contract includes termination provisions which, although management do not currently anticipate will be enforced, result in the contract not being included as a capital commitment.

A lot more analysis of the numbers would be required to see if income from players and payments for stadium construction go through the same pot. But at the end of the day, all the numbers are totalled for Everton as a whole, which suggests to me there really is only one pot.

Happy to be schooled on this point by wiser minds…

Onana will “almost definitely” be our our second biggest transfer deal ever.

How does that work out, Sam?

My comments at #14 above are largely based on information and comments provided in recent weeks by Paul the Esk, Rodger Armstrong and others with much more business and accounting experience than me.

However, the loan from MSP appears to come with an annual interest cost of around £9M pa – which added to the estimated £20M+ already being paid to R&MF, suggests more will be needed (from somewhere).

I don't think the money is going to the stadium, I think it's all going back to the fat Ruskie. He's getting the hell out of Dodge asap.

Some of us will choose to think, "What do they KNOW?"

Interesting read though. Thanks.

PS; Is Philip "Mozart of Money" Green one of their consultants?

:)