New Everton Owners: The Friedkin Group

[jazzy]

I was thinking the same. He seems to have a lot of commitments. I imagine he will travel over occasionally and when required but handle regular business from the US.

His role as I see it is to be the lead the oversight of the executive team and help shape its strategy together with Dan Friedkin.

We have not had any oversight or accountability in that sense at the club since I don't know when.

I still hope that the full board will contain people outside of TFG also, though. I'm confident that TFG will run a tight ship and we finally will have accountability for performance at all levels.

But outside voices only add to that in my opinion and provide different perspectives. The CEO will be one of those people, but an additional one or two more wouldn't do any harm.

I'm conscious of the affects of groupthink which can happen blindly in any organisation where the same set of people work with each other and dissenting voices get filtered out. We've seen this at its worst under Kenwright.

It gives me real hope that we will be run properly when you look at the CV of this guy .

He has real gravitas unlike Blue Bill who was good at errrr lying and putting on pantos

 

[Neiler]

 

[paultheblue]

Live from heaven. Lest we forget the man that made this all possible.

He will need a bigger case than that to carry the money he has made from the club in his tenure.
Kenwright is a name i would never want to see associated with Everton ever again.

 

[Marius57]

That is fantastic news. I’m assuming Acap being ‘boxed off’ means it’s just been renegotiated at better rates.

I know Friedkins will ultimately want their money back at some point, but hopefully our imminent upcoming and long lasting glory and success will get that to them.

 

[Drico]

I'm feeling a new sensation today...

I think they call it...hope.

 

[blackie_jones75]

This is the same guy that said they bought Everton for £40 mill, how is that possible when they have paid of hundreds of millions of debt?

 

[badloaf]

Live from heaven. Lest we forget the man that made this all possible.

It’s hard to believe that this is the first time in decades that the running of the club will have nothing to do with him and his little band of sycophants. This is genuinely a new era.

Of course, it’s also still Everton, but it’s nice to feel vaguely optimistic for next year.

 

[Blueberry Muffin]

As someone with the financial literacy of a toddler, how's that loan repayment structured with R&M? I saw that Friedkin converted it into equity. So would the club owe him money if he left or is it just down to paying Moshiri less for the club and taking the difference out of the total value?

 

[Neiler]

 

[Bryan+]

 

[truebluejersey]

Now a job list

1) New Manager

Any one want to add more to the job list ?

Get rid of the existing one

 

[WA Toffee]

Surely can’t be worse that Moshiri, they just can’t.

Not happy they are going to keep Thelwell though, put together a horribly disjointed team, with no goals and zero pace.

He was better than Kenwright.
Better than I would be.
Better than you would be.

Yes, it could be worse (but hopefully not)

 

[ashwuk76]

As someone with the financial literacy of a toddler, how's that loan repayment structured with R&M? I saw that Friedkin converted it into equity. So would the club owe him money if he left or is it just down to paying Moshiri less for the club and taking the difference out of the total value?

no bascially by paying them off and then turning that debt into equity that becomes shareholding, thus taking it off the balance sheet. so assuming Mosh's shareholder loans have been turned into equity as well, the only debt we have left is the A-Cap loan, so circa £200m.

Fantasic news and gives us the power to spend and is in effect a financial reset.

Edit: Happy to be proved wrong, but thats how i see it. I assume Mosh's debt being converted to equity will mean hes effectively a shareholder and there will be an agreement to pay that off over time as and when (just a guess!) possibly why hes said he will still attend games. I also assume the TFG will have controlling interest over Mosh's equity to give them full control.

 

[PeregrineT]

WOOOOOO! Finally done, and no more "whats happening with the debt" crazy administration talk, and "will they, wont they".

A lot to do obviously, but excited to see the first board appointments and what they do in January!

 

[paultheblue]

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Do we know if he is coming in his spitfire on Sunday as I will be in the top balcony so hope to see him land