New Everton Owners: The Friedkin Group

[zebedee]

I have read a few times on here that Bramley Moore will lead to an increase of around £80m per year income for the club. Honest question but is that realistic or just plucked from the sky?

Sounds about right with potential concerts using it as an exhibition hall etc.. trouble becomes how sustainable that is when the rest of the waterfront gets the benefit and investment is needs.

 

[PeregrineT]

Andy Hunter and Paul Joyce have said similiar in their articles that TFG have negotiated a cut-down price on the 777/ACap loan that they'll pay off and that they're paying close to, if not all, of the £225m owed to RMF.

Right, I dont have any details but from what Ive heard discussed in the media, which to me seems to suggest:

Current debt
1. 200m to Friedkin at unknown interest rate
2. 200m to 777/ACap at what we believe is like 10-11%
3. 225m to RMF at 10.5%

Annual interest costs of 62.5m a year. Next years plan:

1. 200m Friedkin converted to equity
2. They pay something like 150m to pay off the 200m 777/ACap loan.
3. They pay off a portion of RMF, but renegotiate or refinance the rest at a much lower rate secured on the stadium. Lets say 180m at 6%.

Annual interest costs of 10.8m a year. Savings of 51.7m, and stadium brings another 50-60m in new revenue. Next years budget is 100m to the better. Now I can also see them taking some of what they pay off the 777 with and just do a bigger loan secured on the stadium, like 300-350m. Id love for them to pay it all off but from what I heard in the media(could of course be wrong) it seemed they want to secure some of it on the stadium for now.

 

[Ed_Winchester]

I have read a few times on here that Bramley Moore will lead to an increase of around £80m per year income for the club. Honest question but is that realistic or just plucked from the sky?

Let’s say they charged an average price of £40 a ticket, so from 38,000 to 52,000 capacity, that’s only £500K more per home match than they get today, so £10M per year through the gate.

 

[Jebus_lives]

Well that's not true is it.

As we've seen the PL actually done us a massive favour by scrutinising 777 and not just waving them through.

Sorry I should qualify:

The PL will wave through anyone who isn't an absolute chancer(s) who can't demonstrate where the money they are using to try to buy a club, is coming from.

 

[Brett Angell Delight]

Whether you like the result or not, he's invested massively in the club.

The position he leaves us in off the field is that we will be relatively debt free, we will have a brand new stunning stadium and a relatively low wage bill.

That wouldn't have happened had he not been the owner.

Mate, it took Russian sanctions, PSR penalties and a last-minute rescue from the clutches of 777 to get here. Let's not paint the fella as Robin Hood just yet, eh?

 

[milks]

777 assets been seized I believe and RMF will be settled by Friedkin group.

Essentially will be debt free, with any others re-financed at much more favourable rates.

The club will still be in debt to the owners - they aren't shelling £500m out for charitable reasons.

 

[Jebus_lives]

Mate, it took Russian sanctions, PSR penalties and a last-minute rescue from the clutches of 777 to get here. Let's not paint the fella as Robin Hood just yet, eh?

I'm not painting him as anything. I'm just stating that he's thrown a fortune at the club. Unfortunately he has had his fingers burned badly.

 

[pfim]

He could've borrowed more and tried to hold on until the stadium was finished and looked to sell to clear his debts.

From whom? He already milked every interested in party in the club as well as a straight ponzi scheme.

 

[Jebus_lives]

From whom? He already milked every interested in party in the club as well as a straight ponzi scheme.

There are always people willing to lend money. Especially if they think they can get 10-15% back.

 

[pfim]

There are always people willing to lend money. Especially if they think they can get 10-15% back.

I think that's a pretty rosy thought. TFG loaned it as they had security on the stadium, RMF have security on PL revenues, 777 loaned the money as they needed the next level of the ponzi scheme to work. There are no assets left to borrow against.

 

[PeregrineT]

Let’s say they charged an average price of £40 a ticket, so from 38,000 to 52,000 capacity, that’s only £500K more per home match than they get today, so £10M per year through the gate.

Current matchday revenue(2023) comes out to 23m a year for PL matches at 590 per fan. At 40 per ticket thats 760 per fan. Include some hospitality to lets say 900 per fan(9th in the league) and matchday revenue increases by 24.6m to 47.6m per year. That only counts PL matches.

 

[Jebus_lives]

I think that's a pretty rosy thought. TFG loaned it as they had security on the stadium, RMF have security on PL revenues, 777 loaned the money as they needed the next level of the ponzi scheme to work. There are no assets left to borrow against.

I suppose desperate people will find a way to cling on with the hope of future funding.

But, as others have pointed out, the options were becoming limited, especially with the Usmanov bust up.

It's probably a case, as I made earlier, of taking the hit now, rather than trying to cling on and risk further debt in the months ahead.

 

[Lob]

The mirror are literally making that date up as they know it was reported yesterday that it would take 8 - 12 weeks so they just have said December.

Everything that comes from the mirror is regurgitated codswallop. It will be done when its done and could take a while but i would be very surprised if it took as long as December. Probable more like November imo.

 

[kiss the crest]

Let’s say they charged an average price of £40 a ticket, so from 38,000 to 52,000 capacity, that’s only £500K more per home match than they get today, so £10M per year through the gate.

It will be closer to £70 per ticket for Bramley Moor believe me

 

[pfim]

But he didn't. He waited for a credible buyer.

And this applies

He didn't wait for a credible buyer. Again, if he had his way we would be owned by 777/Acap right now. Only the league prevented that, not Moshiri.