The Friedkin Group - Dan & Ryan Friedkin [19/07/2024] Purchase Talks Over.

[mikew1878]

Maybe there's no need to panic (yet).

We’ll be alright

 

[Damo_1878]

"Everton are worth more than their debts."

That's an opinion, not a fact. Much of the circumstantial evidence suggests that it is not.

He kept going on about "fruit of the poisonous tree" earlier. Irrelevant to the topic

Copium from him

We're not at imminent risk of collapse but we have an issue within a year to the business. For sure. That needs to be resolved

Just like when 777 initially pulled out

 

[Zatara]

Why are you just guessing

Im not guessing. I know precisely how long a light due diligence takes.

 

[bullybeef]

No USA buyer will touch us now - 777 we were told were so dodgy yet the Mosh ploughed on ....

The fella is an idiot. Always has been, always will be.

Anyone remember the cheap shot he aimed at Lukaku and his mum. The alarm bells were ringing loud and clear back then.

Dearly departed bill has a lot to answer for getting us into bed with this cretin.
He did so to protect his own interests rather than those of the club and its true stakeholders… the fans!

 

[Goat]

Well, well, well.

This is terrifying.

 

[brieverton]

Anyone think Dell, Bell and Downing will show up again?

They may do. They are not cash rich though like TFG. The concern seems to be the legal issues relating to 777 / A-Cap, and that will be a given regardless of the prospective buyer. It doesnt merely seem to be a problem that can be solved by any group offering them a settlement, or to pay them off in full.

The situation appears to be desperately grave. Our debt profile was bad enough, but add uncertainty, and particularly legal uncertainty, it appears to be a hugely toxic mix. The last thing investors want is uncertainty even if they're willing to put their hands in their pockets.

Uncertainty and instability look to be the order of the day. I'm concerned at the affect this will have on the morale of the players and management. We all can collectively only endure so much.

If you put a group of financial and legal experts together, how would they get us out of this? What is the solution and who is in a position to execute it?

This is quite literally death by a thousand cuts, or to be more ironic, by 777 cuts.

 

[Neiler]

If that were to b the case mate - its all right for Friedkin but puts Everton and Moshiri fairly in the Manure business - i know its a risk as opposed to an actuality.

Anyone know the timeline on Leadenahall case....wonder if it was resolved would the Fredkin's come back in.

 

[YoboCopter]

was lookin forward to that roma friendly aswell

 

[Joey66]

They may do. They are not cash rich though like TFG. The concern seems to be the legal issues relating to 777 / A-Cap, and that will be a given regardless of the prospective buyer. It doesnt merely seem to be a problem that can be solved by any group offering them a settlement, or to pay them off in full.

The situation appears to be desperately grave. Our debt profile was bad enough, but add uncertainty, and particularly legal uncertainty, it appears to be a hugely toxic mix. The last thing investors want is uncertainty even if they're willing to put their hands in their pockets.

Uncertainty and instability look to be the order of the day. I'm concerned at the affect this will have on the morale of the players and management. We all can collectively only endure so much.

If you put a group of financial and legal experts together, how would they get us out of this? What is the solution and who is in a position to execute it?

This is quite literally death by a thousand cuts, or to be more ironic, by 777 cuts.

The Mosh should have known all about 777 - everyone else did ....

 

[GlosBlue]

Lovely news for a sunny Friday afternoon...

 

[Dr Baxter]

AS Roma Hires Goldman Sachs To Find Buyer After Deal With Friedkin Collapses

James Pallotta hired the investment bank after the $850 million sale fell through.

www.forbes.com

They have done this before it seems..

Cannot name names but I've heard from someone high up at EFC (the playing side) that might be their tactics again. Watch this space.

 

[Goat]

was lookin forward to that roma friendly aswell

I've bought tickets, is it off??????

 

[Daytripper]

Cannot name names but I've heard from someone high up at EFC (the playing side) that might be their tactics again. Watch this space.

How would Stuart Barlow know what is going on?

 

[Zatara]

To negotiate a restructuring of the debt, come to an agreement, then study the legal cases and determine the risk of the restructuring being contested in court? It's not an afternoon's work if that's what you're implying.

What does any of that have to do with due diligence?

The speculation is that TFG werent aware and various derivatives of this.

Ive merely stated that it would be a fortnight to complete light DD which would have brought all this into the open. But the odd thing here is that it was already in the open.

Happy, even delighted to be proven wrong on this but it appears as though TFG didnt want to pay off any further debt.

Which means they wanted to kick the can down the road...what we surely prefer is to get the debt down further and then take out a long term loan against the stadium.

The weird thing for me is that they could pay off all debts and then take the loan to pay themselves back once the stadium was built. Its then like a 6month process.

 

[kev]

I've bought tickets, is it off??????

Certainly hope not. So have I.