John Textor / Everton Takeover

Everton is not an attractive option for the truly rich that have lots of cash to spend. The Moshiri demands seem to primarily attract buyers that desire to own a Premier League team but want to do it by leveraging their other investments to the max. While getting rid of the current owner should be a priority, getting someone that has to work month to month to pay bills is just going to cause a future problem.
 
CalBuckeye_Rob said:
Everton is not an attractive option for the truly rich that have lots of cash to spend. The Moshiri demands seem to primarily attract buyers that desire to own a Premier League team but want to do it by leveraging their other investments to the max. While getting rid of the current owner should be a priority, getting someone that has to work month to month to pay bills is just going to cause a future problem.
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Lots of very wealthy owners wanted Everton before. That will likely increase when the new stadium is built.
 
Neiler said:
Wishful thinking though mate isn’t it.

Remember when people were telling us not to worry about our finances because, we had a billionaire accountant.

We want more then he’s a second cousin of real money, had a skateboarding show and had a few shares in Facebook. We need substance, we want money coming from a group into the club - like TFG we’re prepare to wiped out the MSP debt in a week.

What we do have here is a track record of how Eagle group invested in other football clubs and how they raised that money - I’ll happily be corrected but just going on and reporting the trodden factual step stones.

To be honest I’m not sure I believe any of this…..
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Well my default setting on the takeover saga is that we really dont know the half of it. The best sourced fan-experts out here are really not at the races in terms of who has offered what and who's now owning this part of the club / stadium and that.

To me its a matrix. I look at all these actors that swirl about and suspect them all - not just Textor. But one of them will own Everton and whoever it is will look to exploit that stadium and the fanbase to the max to pay for their investment.

Short of another Mansour riding to the rescue we'll get roughly the same type of owners circling and swooping. Let's just hope whomever we get has a decent business plan.
 

I read two weeks ago he had a consortium to buy a premiership club - know ye has exclusivetivity on us I also read if true he has had a fair bit of interest on his shares at Palace .....allegedly he us holding out as he has made a good profit on those shares at Palace & has had at least 3 offers for them - maybe hence the announcement of an exclusivetivity today ...
 
davek said:
You are definitley right to ask such questions. There's stuff there to occupy our thoughts.

However, is it really possible that all this borrowing / leveraging doesn't have a foundation in real wealth? If this was Joe Blow we should be very concerned. But this feller is from an old money family in corporate terms and though he may be a distant relative is it likely he;d be a complete huckster? I doubt it.

He's invested in digital broadcasting sports and various other entertainment media and has gotten involved in sports club ownership. Surely that's the source of his own personal wealth? I remember a time when we were desperate to get Kenwright out of the club to sell up to an outfit like Clear Channel - a similar prospect to Textor and his area of business interests.

Ilm not saying rush in where angels fear to tread, but I do think we need to stop believing there's clearly good guys and bad guys out there in terms of our ownership. All of them will be speculators and they'll all come with a history of using other people's / organisation's cash to get ventures off the ground.
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His personal wealth is utterly irrelevant to this. Does he have real wealth himself? Probably.
Has he spent a bean of it on his football clubs? It’s seems it’s nearly all leveraged debt.
He’s borrowing money by loading the debt onto the clubs and at least some of it is at 7-12% above base rates.
Clubs leeward debts are financed by security against another club… it’s a viper’s nest, especially for a club with already huge debt and interest issues.
 
Neiler said:
It’s what I was saying earlier mate, you always have to see where the money is coming from. It appears Textor or Eagle Group holding are no strangers to debt, in fact they borrow at rates higher or equal to our own which begs the question are they a serious upgrade on what we have- how do they intend to buy Everton, how do they intend to manage the debt and how do they intend to fund the business - the club has a liquidity and debt management issue and Eagle group seem to take out debt to manage liquidity - that’s not a good mix.

A little bit more digging showed that they bought Lyon for 300 odd million Euros, that money was borrowed and actually secured against their stake in Crystal Palace. So the group is holding a lot of debt with high interest payments. Despite the assets it has (like 777) it doesn’t seem to have the ready liquidity, so meet the shortfall with debt and a high rate of interest - not quite the sugar daddy some may think he is.

Personally, this makes no sense to me - it’s not logical - to the point that it can be true, for a few reasons.

1) The stupidest thing he could do is enter exclusivity with Everton trying to sell his Palace stake, no serious buyer will offer him what it’s probably worth - if they know he has a deadline and pressure to sell. Doing a deal for Everton collapses his Palace stake. If he has done just that - we don’t want him here.

2) The loan he has for Lyon is secured against his Palace stake - so that’s a mess.

3) They don’t seem to have the liquidity.

4) This hasn’t been confirmed by the club and if it is…..

5) Based on the above and timing I’m suspicious it may be cozy agreement between Moshiri and Textor, to gain notoriety, with the season starting Moshiri heads off any fan unrest and keeps the plates spinning, 3 months of the stadium completion. Ultimately ending with non completion.

The only way this works is if he has a buyer and a deal done for Palace but based on the above, not sure this is any type of upgrade on Moshiri, be likely more of the same.

Overall Textor wants to float Eagle group on the Stock Exchange, his motivation is he wants Everton as a historical brand to be part of that.
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If that latter part is true, then this makes total sense. I don't think Textor is serious..

However if they were public, it would likely give some access to funds/liquidity. It's kind of why people IPO to the public markets.
 

davek said:
Well my default setting on the takeover saga is that we really dont know the half of it. The best sourced fan-experts out here are really not at the races in terms of who has offered what and who's now owning this part of the club / stadium and that.

To me its a matrix. I look at all these actors that swirl about and suspect them all - not just Textor. But one of them will own Everton and whoever it is will look to exploit that stadium and the fanbase to the max to pay for their investment.

Short of another Mansour riding to the rescue we'll get roughly the same type of owners circling and swooping. Let's just hope whomever we get has a decent business plan.
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Think there are clear distinctions mate. To me Textor on the evidence thus far, is no change from Moshiri really. I don’t see how his approach to the funding of purchases or clubs in the group thus far raises any boats for us.
 
Damo_1878 said:
It is when that shareholder has to sell those shares FIRST before being able to acquire the new company shares

Anyone saying this is normal is talking nonsense. It isn't.
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I didn't say normal, I said it's not abnormal. Moshiri had to do the same here too.

And look, The PL will grant him time to sell. The wider issue for me is I don't think he's credible, or has access to the liquidity.

I don't think it goes further, but the announcement is mutually beneficial for FM/JT in certain ways.
 
catcherintherye said:
If that latter part is true, then this makes total sense. I don't think Textor is serious..

However if they were public, it would likely give some access to funds/liquidity. It's kind of why people IPO to the public markets.
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A lot of the groups debt matures in 2028, I suspect this may be the plan.

It would be the group offering an IPO as opposed to Everton mate.
 
I am football finance expert and I always say it's the last bidder when everyone else has been scared away, that's the one you want.
 
Moderatelywarmwater said:
His personal wealth is utterly irrelevant to this. Does he have real wealth himself? Probably.
Has he spent a bean of it on his football clubs? It’s seems it’s nearly all leveraged debt.
He’s borrowing money by loading the debt onto the clubs and at least some of it is at 7-12% above base rates.
Clubs leeward debts are financed by security against another club… it’s a viper’s nest, especially for a club with already huge debt and interest issues.
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I dont think it's irrelevant is it? I mean, the leveraging has to have at least some material basis to it.
 

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