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

[jazzy]

Is it not more a case that they could pay off 777, but they don’t want to waste the money if 777 are going to go bankrupt?

No

 

[Zatara]

Where are you getting these numbers? RMF, 777 and TFG debt is more than that.

The only number i have presented as fact (or close to) is the £200mil for MSP + B&D.

There will be other smaller payments made such as those pending to Moshiri and running costs perhaps.

The additional £200mil for 777 to be paid out (plus any postential penalties) they have chosen not to do so.

Thats the facts.

Then the other outstanding debt to R&M and themselves (unless they conver to equity) would come back to them once they restructure the debts upon the stadium being completed.

US laws are meaningless once the debt is paid according to the agreement.

These guys simply didnt want to pay the money.

 

[Marc bolan]

Tonight Matthew I'm going to be Paul McCartney

 

[Zatara]

TFG still have a foot in the door. They have replaced the MSP loan with their own loan, and my understanding is that the security on this loan is the new stadium. TFG have a significant amount of money tied up in Everton.

I expect they will wait until the 777 case develops further and if they choose they will then come back into the arena.

The only way that happens is if they can keep from paying 777 until the stadium is complete and they can restructure the debt -- borrow from a bank on low interest and pay off 777 + R&M.

Could be wrong but everything i see points to that.

Pulled out of buying Roma in June, bought them in the August. May be some bluffs being called here.....

100%. They dont want to further dip into their own pockets.

Maybe this was always their plan.

Problem is that there are too many EFC fans who fall for the charm of US businessmen.

American owners are largely shysters just look at the Glazers and the state of Old Trafford.

Need to steer clear of them & Super Blues Bell & Dowling with their big Dell backed loan put against BMD also.

Simply look at how the deals were done at Burnley and United.

]

 

[TyphooToffee]

Godzilla?!

Hopefully he/she/they avoid BMD when climbing out of The Mersey but step on Anfield on the way to Goodison.

 

[Bazlar]

Are we still playing Roma

 

[Exeter_Gently]

Are we still playing Roma

That's going to be embarrassing.

 

[JimmyJeffers]

Are we still playing Roma

Roma Academicals.

 

[Rehnman]

Are we still playing Roma

Are we still playing Roma

Cancelled - it’s now Standard Liege in a testimonial for Josh Wander

 

[tirion]

Bigger picture, over the last 30 years we have gone from Samuelson, the fella in his Ma’s box room in Manchester, Rocky, Phillip Green, Kenwright, Rafael, and we end up being dropped by a fella who’s party trick is flying an effin Spitfire, what an absolute circus this club is.
The Esk was right, administration is in everybody’s best interests.
Just awaiting the first Sligo 1 0 Everton update

 

[Zatara]

Have had a busy afternoon so apologies if this has been pointed out - but the specificity of the 777 loan being cited as the issue is interesting, I think?

It’s not just “we’re out,” it’s a specific reason - like, perhaps, a “fix this and we’d be back in,” kind of message.

A: They want to use the banks money to pay off 777 once the stadium is built (restructuring debt)

B: They dont want to use their own capital now.

Yeah sounds like they dont want to deal with any of that 777 crap.

Yet they could just pay them off.

Surely that is based on an assumption that the actual loan agreement itself is not part of the legal issues. if the loan itself was unlawful - 777 / A-Cap sourced the 200m from bad / illegal practices and handed it to EFC. Then what's written in the agreement is at best part of that (going to be lengthy) legal trial in the US or at worse not worth the paper its written on.
Just the fact the loan happened could be enough to tie anyone connected to it into a lengthy legal argument, whether someone pays it off early. keeps servicing the debt or defaults.
Given what we know about 777 and A-CAP I would say the chances the sources of their funding to provide the loan are the issue.

It hasnt gone to trial yet. So we should assume that what is in the agreement stands & the debt repayment would settle the matter.

 

[TyphooToffee]

“The more time that I have spent with the 777 team, the more my confidence increases that we have found the right people to take the club forward in the modern era," Moshiri is quoted as saying.

"They are highly professional and deliver exactly when they say they will, and I look forward to them achieving all their regulatory approvals and proceeding to completion on the timetable we set."

And that other golden nugget: "We need a striker, we will get a striker."

 

[jazzy]

What fresh hell is this?

People championed them because they look like people who can actually run a football club in some kind of organised fashion.
When takeovers happen, people do ‘due diligence’ on the books. This is when they deep dive the finances and look at what actually is rather than what the seller claims. And it seems that the details aren’t as they expected.

The good news? They weren’t the only people interested, so all should be fine

The really bad news? What spooked TFG is likely to put anybody else off.

 

[mahermi1]

I didnt say I was stressed.

But as an Everton fan, I have a level of concern that we have now seen our 4th Takeover in 12months fall apart.

I have no control over Everton football results, but they still affect me, as an Everton fan.

The obligatory wet mattress will be next mate from the super blues.

 

[Charles Hawtrey]

Is it not more a case that they could pay off 777, but they don’t want to waste the money if 777 are going to go bankrupt?

777 go bankrupt, Friedkin's pay pennies on the dollar and then buy Moshiri's shares for less..... Dominoes