Everton F.C.
Everton F.C. is a limited company with the board of directors holding a majority of the shares. The club's most recent accounts, from May 2014, show a net total debt of PS28.1 million, with a turnover of PS120.5 million and a profit of PS28.2 million. The club's overdraft with Barclays Bank is secured against the Premier League's "Basic Award Fund", a guaranteed sum given to clubs for competing in the Premier League. Everton agreed a long-term loan of PS30 million with Bear Stearns and Prudential plc in 2002 over the duration of 25 years; a consolidation of debts at the time as well as a source of capital for new player acquisitions. Goodison Park is secured as collateral.
What is the Premier League's "Basic Award Fund" for?
competing in the Premier League
The club's overdraft with Barclays Bank is secured against the Premier League's "Basic Award Fund", a guaranteed sum given to clubs for competing in the Premier League.
the Premier League's "Basic Award Fund