The Friedkin Group - Dan & Ryan Friedkin

[Milk]

Was shaping up to be a decent summer till today …
Life of a evertonian

Yes but wouldn’t life be boring if we were well run and financially sound

 

[Goat]

We are not a serious football club.

What a mess.

 

[T LEAFE]

Due to our situation and Chermitis 2 goals against Sligo Rovers we have accepted our usual offer of £10m for him and are happy to take yet another tax loss

 

[Blue peter]

Has anyone in the history of football in this country been so unlucky as to have two successive owners like Kenwright and then Moshiri. To have two of them is quite something. Incredible really. Incompetent nobheads.

 

[summerisle]

Has anyone in the history of football in this country been so unlucky as to have two successive owners like Kenwright and then Moshiri. To have two of them is quite something. Incredible really. Incompetent nobheads.

QPR have had a lot of crap owners I think, but nothing like ours.

 

[the golden visionary]

I see the idiot has messed it up again

 

[Daytripper]

Has anyone in the history of football in this country been so unlucky as to have two successive owners like Kenwright and then Moshiri. To have two of them is quite something. Incredible really. Incompetent nobheads.

It went beyond unlucky when the majority backed them

 

[ForeverBlue92]

Now I know why people get on you mate.

The same football fans who preach morality about Usmanov, Shiekh Mansour etc. were moaning about not being able to have a "bevvy" in Qatar - not about the human rights abuses that go on.

There is no morality in elite level sport. I have little interest in having a pretence to be some protest force against a corruption that I, you and everyone else on here are very much a part of when we subscribe to the Premier League and the blood money that funds it every season.

Usmanov won't be anywhere near this club again mate.

I tend to agree with this assessment.

A Trump win in the US election however and all bets are off.

 

[MikeH72]

It went beyond unlucky when the majority backed them

People who turned a blind eye towards Moshiri because of the stadium should apologise to the rest of the fanbase immediately.

 

[Daytripper]

People who turned a blind eye towards Moshiri because of the stadium should apologise to the rest of the fanbase immediately.

Good luck with that mate

 

[PeregrineT]

Someone call Dan and ask if he's seen the Chermiti goals, and if he wants to reconsider

 

[AsiaAsia82]

Friedkin playing hardball
He’ll be back I reckon..

 

[Runub]

Never a dull moment

 

[pfim]

Ok i'll turn this on its head...

Lets say you're correct and TFG didnt value the club at over the £200mil+ additional capital they could pay 777 now.

I believe thats what you stated. For arguments sake lets call it £400mil.

If that was the case, then knowing the numbers (in the public domain) owing to:

MSP
B&D
777
R&M

It means they were fully aware of the debt figures. They were also willing to pay the MSP & B&M loans off.

Meaning, to proceed as far as they have... they valued the club higher than those debts combined (no DD would be required to know the debt amounts).

Whether they restructure the debt once the stadium is built OR they pay the debts off in their entirity now...they would still have the debt on the books.

They can convert into equity if they pay off one or both remaining firms (777 + R&M) or take a long term restructuring option once the stadium is built and pull their loans back then. It will be built end of the year so worst case they get their money back in under 12months.

They clearly had a value of the club including the debts. They were happy to proceed until (as stated) they chose not to proceed due to the 777 debt.

If they had paid it off = problem solved.

But they have chosen not to. They were always aware of this debt (and the others) but it points to them wanting to wait to restructure the debt. That would be a risk depending on the 777 legal situation.

So its not that they dont value the club at £1bil / £850mil or whatever. If they didnt value it higher than the combined nets they would never have entered talks (the debt remains the debt) and someone needs to pay it.

Theyve made the decision to pay off MSP & B&D as they were clearly confident they had a good deal on an undervalued asset.

But they simply do not want to inject further capital to pay off 777 in full.

Im really unsure what else to say.

What I'm saying is that they were not going to wait and restructure, they wanted to have clarity on the 777 debt now. Meaning they did not value the club at the sum of the debts plus the payout to Moshiri (in other words, the asset value). Why try and restructure the 777 later? You have the leverage now.

They paid off MSP and B&D because that debt matured and they were able to secure it against assets, just like the other guys did. Risk is low and they are probably making good money off that.

If anyone valued the club at 1 billion (or 850 million), we would not be having this conversation. We'd have our pick of suitors and the deal would close rather quickly.

 

[vintage-toffees]

The only person I wish had pulled out of something moshiri related was is auld fella when he tapped mrs moshiri and created this cretin