Everton

From today's athletic, about Everton:

"Summarising their findings, new auditors Crowe LLP cast “significant doubt” on the club’s ability to continue as a ‘going concern’ in the event of relegation.

Crowe noted that demotion to the Championship would necessitate additional funding from majority shareholder Farhad Moshiri, who remains “supportive” but is not “legally obliged” to cover the shortfall.

Key to their assessment was the potential repayment of debt to long-term lenders Rights and Media Funding. To date, monies owed to Rights and Media Funding sits at around £150million.

“Some of these facilities include a covenant that assumes the club will remain in the Premier League, therefore the board have had to consider the scenario of relegation and the availability of these facilities in that scenario,” Everton wrote in their accounts.

“The providers have indicated that they remain supportive under each scenario. However, at the time of approval of the financial statements, there are no contractual commitments in place that would guarantee a waiver of the amounts payable in full or in part and therefore relegation would require a material repayment of debt as per the contract.”

For a club already stretched beyond its means at Premier League level and has posted losses totalling over £430m in the past five seasons, not to mention currently financing a new stadium project worth £760m, it is a chastening prospect. Some would say the kind of “existential moment” mentioned by Moshiri in his message to supporters earlier this year. But it is also one that could well become reality if survival is not secured on the final day of the season."
 
Adumass said:
From today's athletic, about Everton:

"Summarising their findings, new auditors Crowe LLP cast “significant doubt” on the club’s ability to continue as a ‘going concern’ in the event of relegation.

Crowe noted that demotion to the Championship would necessitate additional funding from majority shareholder Farhad Moshiri, who remains “supportive” but is not “legally obliged” to cover the shortfall.

Key to their assessment was the potential repayment of debt to long-term lenders Rights and Media Funding. To date, monies owed to Rights and Media Funding sits at around £150million.

“Some of these facilities include a covenant that assumes the club will remain in the Premier League, therefore the board have had to consider the scenario of relegation and the availability of these facilities in that scenario,” Everton wrote in their accounts.

“The providers have indicated that they remain supportive under each scenario. However, at the time of approval of the financial statements, there are no contractual commitments in place that would guarantee a waiver of the amounts payable in full or in part and therefore relegation would require a material repayment of debt as per the contract.”

For a club already stretched beyond its means at Premier League level and has posted losses totalling over £430m in the past five seasons, not to mention currently financing a new stadium project worth £760m, it is a chastening prospect. Some would say the kind of “existential moment” mentioned by Moshiri in his message to supporters earlier this year. But it is also one that could well become reality if survival is not secured on the final day of the season."
Click to expand...
there's a £150 million loan that is not due until 2027 but has an automatic trigger payment if relegation happens.
 
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