The Friedkin Group reaches agreement to buy Everton

[catcherintherye]

Exactly. So there is no chance of us having to pay one, and then also having to pay the other. Ultimately, a court will eventually decide who is owed the money, and then subsequently, Everton will be obliged to pay all or some of the money back.

That’s the level of ‘complexity’ we are dealing with. I don’t think it’s overly complex, and I think it’s something our new owner will simply have to contend with. If they aren’t capable of contending with that, then they aren’t capable of taking over Everton.

The reported concerns about proceeds of crime are just BS in my opinion. Everton will have committed no crime in entering into a commercial loan with 777, even if 777’s money was derived from selling crack to school children.

Whoever gets it probably dictates how easy it is to negotiate down.

If the court allows King to start selling assets, I'd imagine he would take a lower settlement offer on that debt. Repayments in 18 months don't help a lot if you need cash now.

 

[Goat]

Whoever gets it probably dictates how easy it is to negotiate down.

If the court allows King to start selling assets, I'd imagine he would take a lower settlement offer on that debt. Repayments in 18 months don't help a lot if you need cash now.

Devils advocate, but maybe DFG reached out to ACAP or somebody and didnt like the cut of their jib.

 

[catcherintherye]

Devils advocate, but maybe DFG reached out to ACAP or somebody and didnt like the cut of their jib.

Yes maybe. I think something has happened in that dynamic.

But nobody is getting any money from Moshiri, that's the truth. So it could be a negotiation

 

[LocalNative]

I dont think you are quite thinking that through.

You say they lashed in 200 mill in because its a high interest loan that they will get back and then some, and just before that said the only outcome in the case of 777s funding being sorted is administration where they dont get that back. Which is it?

Would assume in the terms of the £200m loan is that if the club cannot pay back they take control of the club, thus not owing anymore then to 777.

Dunno.

 

[Hellerad]

I have never understood why 777 made the loans they made. It was poor business judgment.

That seems to be a trend with them, hence their falling to pieces. We just happened to be the horse they were trying to mount when somebody they owed money got wise.

 

[Joey66]

Is that true Joey or a guess on your part?

That's what was reported in the media last Friday they pulled out over the litigation over the 777/ACap court case & the outstanding 200 million loan implications to the new owner - an indemnity insurance was away around that problem to cover the implications of any involvement of money owing ...

 

[Goat]

That's what was reported in the media last Friday they pulled out over the litigation over the 777/ACap court case & the outstanding 200 million loan implications to the new owner - an indemnity insurance was away around that problem to cover the implications of any involvement of money owing ...

Imagine what the premium would be on a 200m insurance policy.

 

[Joey66]

so moshiri again stopping a sale

so again why pay 200 mil?

If 777 are declared bankrupt it would only be a % of that if they were jailed implications may arise hence insurance against that loan & fallout would cover it -it would protect EFC too! & its next May the hearing 777 may blame EFC? For their financial troubles eg the 200 million loan ...
The Mosh has messed up big time imo

 

[Joey66]

Imagine what the premium would be on a 200m insurance policy.

The Coop would cover it - the Mosh should have barted a deal with the new buyer ...

 

[Goat]

The Coop would cover it - the Mosh should have barted a deal with the new buyer ...

People need to realise that Moshiri has ZERO desire to spend another penny on this football club.

I doubt he even cares if we fold.

Sunk cost - Wikipedia

en.wikipedia.org

 

[Kems]

Only managing to keep up with the odd few pages of this
- but has there been any date said of when the leadenhall case is due to be heard, guess even then it will be started and straight away adjourned for months

 

[Joey66]

Only managing to keep up with the odd few pages of this
- but has there been any date said of when the leadenhall case is due to be heard, guess even then it will be started and straight away adjourned for months

Next May

 

[pfim]

I have never understood why 777 made the loans they made. It was poor business judgment.

That seems to be a trend with them, hence their falling to pieces. We just happened to be the horse they were trying to mount when somebody they owed money got wise.

To have that much capital at their disposal and screw the pooch so badly…ironically if they had gotten it over the line, Everton could have been one of their only successes.

 

[MikeH72]

People need to realise that Moshiri has ZERO desire to spend another penny on this football club.

I doubt he even cares if we fold.

Sunk cost - Wikipedia

en.wikipedia.org

Clearly he cares about getting an extra bit of change in his back pocket seeing as he won’t drop the asking price, which suggests to me he does in fact care if we fold.

 

[Nymzee]

Clearly he cares about getting an extra bit of change in his back pocket seeing as he won’t drop the asking price, which suggests to me he does in fact care if we fold.

We don’t need to drop our asking price. Lots of people are comfortable with it.