Everton extend loan agreement with Rights and Media Ltd
Everton have agreed to extend their existing loan agreement with Rights and Media Limited to keep the club’s coffers ticking over.
Financial expert Kieran Maguire, who has worked for The Times in the past, shared the news via his personal Twitter account as Farhad Moshiri looks to keep the balance in the black at all costs.
The extended loan could be because of a very busy transfer window at Goodison Park where the club made a number of late additions after selling Richarlison to Tottenham Hotspur.
James Garner, Idrissa Gana Gueye, Amadou Onana, Neal Maupay and Dwight McNeil all cost the club a transfer fee and Anthony Gordon did not bring in any further investment despite prolonged interest from Chelsea.
“Everton renew/extend loan arrangement with Rights and Media Ltd. Could be the £100m loan shown in the 2021 accounts, equally it might not be,” Maguire said.
Interest
Loans are all well and good in the short term when the need for extra cash is desperate but it always comes at an overall loss when the time comes to pay all of that money back to the banks.
One day, Moshiri will find himself giving over nine figures worth of money because he was forced to take a loan at a crucial time in the club’s history and it will almost certainly come back to bite them.
And with Frank Lampard’s side currently struggling to kickstart their 2022-23 Premier League campaign with two defeats and three draws, there is no obvious place where the money will appear from.
TV money should be enough to break even but the club is far from profitable at the moment and if they end up going down there will be parachute payments to come too.
But no one wants to have to rely on such incoming if at all possible and Moshiri has a big job on his hands to ensure that the future of the Toffees is secure.