Latest Takeover Rumour. The Moores / Noell one

[Rayzad]

Its happened, announced in next 24 hours. wait and watch lads

 

[orchard]

50pc of tv money for 7seasons???
Can't be right surely

 

[Baines' left foot]

I'm a bit of a hopeless optimism with Everton, but it seems to me like there's too much to this for it not to be true.

 

[Woolly Blue]

Private company mate - doesn't count.
Only way shareholders would know is if a 100% takeover was on -scheme of arrangement possibly needed to mop up all shares.

Fair point from a legal perspective.
But I wouldn't be surprised to see an EGM being called though for them to put forward their plans.

 

[Dymak]

(apparently the rules for announcing the deal are complex because of the unique way the club has been purchased.

34.7% of the club has been purchased by the consortium directly, 14.7% has been sold to a mystery 3rd party and the remaining shares though not actually owned by the Moores consortium are to be owned by a finance company that have structured the ownership of their shares in a way that they can "loan" these shares to the moores consortium for a "rent". The Moores consortium are paying the rent for this with Half the TV money over a season for every season for 7 years.

The consortium are not planning on massive player investment, its more along the lines of infrastructure with a site in sefton mooted.

Dont shoot the messenger)

Off another site.

What does the rent bit mean?

It's a euphemism trying to hide the fact that the takeover has partially been leveraged. These people are rich enough to buy the club without leveraged finance if they wanted to, but they are choosing not to, and if the takeover is being structured in the way reported above then I think this is an indication of their intentions. Any investment will be via debt.

 

[TheAlmightyFloater]

I need @The Esk to explain this to me like I'm a 5 year old

 

[dublinbluenose]

Seems they are part-buying the club with the TV money and getting paid interest on that from club finances. A leveraged takeover in anyone's language.

 

[Walken]

instantaneous new party line: "*fume* it's all Kenwrong's fault for not selling the team! *fume*"

when one of the chief lines of his support was he would only sell us to someone with the clubs best interests at heart, so if he doesn't it only proves he was a greedy self interested beaut all along, and it was about his asking price and profit, nothing else

 

[hibbo'sclass]

Fair point from a legal perspective.
But I wouldn't be surprised to see an EGM being called though for them to put forward their plans.

Done deal apparently mate and if the structure and terms are anything like the ones outlined above, God help us.
EGM would require a notice period anyway.

 

[Chimpy Glassman]

Its happened, announced in next 24 hours. wait and watch lads

Yeah?

 

[joger]

Very disappointed with BK if the terms are correct.

 

[ijjysmith]

I need @The Esk to explain this to me like I'm a 5 year old

Same here. Everything sounds really bad. Hopefully @The Esk can make things seem less awful.

 

[Azza]

Do they not realise we ain't Man U?

We don't get £70m a season from out kit supplier, we get £3m from kitbag... We don't get £50m a season from Chang like Chevrolet give United...

 

[Woolly Blue]

Done deal apparently mate and if the structure and terms are anything like the ones outlined above, God help us.
EGM would require a notice period anyway.

Don't get me wrong mate, I can't see a situation occurring where the three board members don't all sell, so everything else is just background noise. Any EGM would be of the type "This is what we're doing" and any offer to buy minor shareholders out would be pretty much secondary business.

Anyway, I'm nervous about the match and can't focus on two Everton things at once so I'm just going to worry about Aguero and his mates for the moment !

 

[Ring master]

Mystery 3rd party eh!

our whole club is a mystery,its like a game of cluedo,or something lol