The Friedkin Group - Dan & Ryan Friedkin

[chazzle_dazzle]

But seriously, what the hell is going on, this is absolutely insane, they invest and pay off debt, only to walk away.

 

[Del-boy]

Seems to be one massive ponzi scheme this. New investor brought in to pay off the previous one over and over.

 

[DanEFC92]

Oh dear.

 

[GoldenToffee]

Absolutely devastating news. Does this all but ensure administration? Who else will be satisfied with the terms if the Friedkins have looked at things and run a mile?

 

[formerly manx toffee]

Holy Fudgecake Batman

 

[matty1878]

this is a disgrace

 

[kimonthemac_efc]

Just as things were looking good. Moshiri has f up this club way more than we think and know

 

[ToffeeTim]

The club statement isn't enough either.

They are never going to tell us why a deal collapsed but we need to know what happens next and we need to know what Moshiri is going to do to resolve the situation.

The fans need to say as one voice that this situation is not acceptable and he needs to sell the club immediately.

 

[EFC_FRANCIS]

It's not exactly a surprise or a skeleton in the closet that we owe 777 a lot of money. Wasn't the whole point that they would've cleared those debts anyway?

 

[Somerset Blue]

Wow, so we are back to square one yet again! This is very worrying that someone credible has jacked it in once they’ve seen the state of finances. Bad times Blues!

 

[efcste97]

That Iranian cvunt has loaded us with even more debt. Thought he played a blinder with the whole 777 deal though? clowns.

 

[Milkman]

So we just owe debt to someone new now basically.

I assume Friedkin's essentially just bought someone else's debt?

Imagine untangling all of the loans we must be involved in right now. @GrandOldTeam is right, there's a strong feel of can-kicking going on.

 

[Mrk]

If it's true that they pulled out because of the murky nature of the debt we owe to 777, no other credible investor will go ahead either until that issue is resolved.

It's hard to overstate just how disgracefully Moshiri has acted, with his flirtations with the cowboys that are 777 just being the latest example. This is seriously bad news.

 

[Liam-EFC]

Everton this

 

[barneygumble]

This is pretty worrying i think.
Friedkin Group seemed to be a very stable option and something we needed after the absolute carnage that has gone on.
My worry is that they have pulled out because they have had a look under the floorboards and there are all sorts of bodies lying around.

Seems to me that it's down to 777 going bust, basically.

Their debt becomes significantly more complex and any quick exchange becomes a long more prolonged, cost baring and not positive.

That was my worry when they went Insolvent.

Back to chaos.