When is a New Loan not a New Loan?
The internet has empowered the ordinary football fan like never before Ė the ability to swap views, air opinions and circulate breaking stories has never been better. But itís not always a force for good.
The number of conspiracy theories, the profusion of well written but seriously flawed articles masquerading as investigative journalism and the basic mischief-making is staggering.
Websites which are unpoliced and not subject to the legal and journalistic boundaries which govern the printed press have the capability to whip up the masses into, at best, indignation, at worst outright anger.
The latest conspiracy, presented as fact, concerns a £13m loan taken out by Everton from one of their own directors.
The loan came from the Vibrac Corporation based in the British Virgin Islands, which is also a business address used by Robert Earl. Hence some fans putting two and two together and making five.
The facts are far less sinister.
The loan is not a new loan. And Robert Earl, or anybody even remotely connected to him, is not the lender.
Itís a renewal of the same loan Everton have had in place for the past two seasons. The old one is paid back every year and a new one is taken out.
Everton have used a different lender this season because they offer a better rate.
The loan is £14m and is absolutely not an increase in borrowing. Bang goes that conspiracy theory. But there are plenty more.
Editors' note for the record: Whether he intended it or not, and given that this site was the only one of the major websites to report on the loan the Board took out earlier this month, the implication of Mr Prentice's assertion is that it was ToffeeWeb pushing a conspiracy theory regarding Robert Earl.
Our news report was entirely fact-based and made no assertion or suggestion of any impropriety on the Board's part whatsoever.
Original Source: Liverpool Echo
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