The Friedkin Group reaches agreement to buy Everton

[The binman chronicles]

I can’t keep up.

Bit like that isn't it. I think the rationale must be we had an extended deadline for that loan to be repaid, if it wasn't then they could have taken 50% of the club and that would have thrown a spanner into Friedkin's plans.

 

[Damo_1878]

To have one group sink 200m into the club without owning it us pretty amazing, to have a second do the same is pretty mind-blowing. I bet the contract this time is a bit tighter just in case...

The money of 777 Partners was NEVER THEIR MONEY, it was A-Cap's via Haymarket etc and was ordinary American's investment money

It was like gambling and they intended to use OUR STADIUM as security for loans to prop up their businesses

This seems very different. This is a shareholder loan that will be converted to equity on completion. It is their money and they've given no indications they intend to do anything than run Everton Football Club as a standalone business. In it's own interests that will yield them asset value growth. Which is their business pattern

 

[peteblue]

Now there’s something I didn’t know…Friedkin is already well connected and sitting on the board of the European Club Association……

“The new 12-person ECA Executive Committee is composed of the ECA Chairman and five Vice Chairs plus six members that were appointed today by the Board. The Executive Committee will allow for a more modern, streamlined and agile decision-making process, meeting on a regular basis and reporting to the full Board. The Executive Committee approved today for the 2023-27 membership cycle is composed of:
Nasser Al-Khelaifi (Chairman) - Paris Saint-Germain
Jan-Christian Dreesen (Vice Chair) - FC Bayern München
Peter Lawwell (Vice Chair) - Celtic FC
Dariusz Mioduski (Vice Chair) - Legia Warszawa
Aki Riihilahti (Vice Chair) - HJK Helsinki
Martina Pavlová (Vice Chair) - AC Sparta Praha
Míguel Ángel Gil Marin - Club Atlético de Madrid
Dan Friedkin - AS Roma
Vinai Venkatesham - Arsenal FC
Dennis Te Kloese - Feyenoord
Ali Y. Koç - Fenerbahçe SK
Niclas Carlnén - Malmö FF “

 

[pfim]

Now there’s something I didn’t know…Friedkin is already well connected and sitting on the board of the European Club Association……

“The new 12-person ECA Executive Committee is composed of the ECA Chairman and five Vice Chairs plus six members that were appointed today by the Board. The Executive Committee will allow for a more modern, streamlined and agile decision-making process, meeting on a regular basis and reporting to the full Board. The Executive Committee approved today for the 2023-27 membership cycle is composed of:
Nasser Al-Khelaifi (Chairman) - Paris Saint-Germain
Jan-Christian Dreesen (Vice Chair) - FC Bayern München
Peter Lawwell (Vice Chair) - Celtic FC
Dariusz Mioduski (Vice Chair) - Legia Warszawa
Aki Riihilahti (Vice Chair) - HJK Helsinki
Martina Pavlová (Vice Chair) - AC Sparta Praha
Míguel Ángel Gil Marin - Club Atlético de Madrid
Dan Friedkin - AS Roma
Vinai Venkatesham - Arsenal FC
Dennis Te Kloese - Feyenoord
Ali Y. Koç - Fenerbahçe SK
Niclas Carlnén - Malmö FF “

Kiss of death.

Europe’s elite clubs want prospective Everton owner removed from board

Josh Wander, a co-founder of 777 Partners, was elected to board of European Club Association in September but is now under pressure to resign from his position

www.thetimes.com

 

[The binman chronicles]

The money of 777 Partners was NEVER THEIR MONEY, it was A-Cap's via Haymarket etc and was ordinary American's investment money

It was like gambling and they intended to use OUR STADIUM as security for loans to prop up their businesses

This seems very different. This is a shareholder loan that will be converted to equity on completion. It is their money and they've given no indications they intend to do anything than run Everton Football Club as a standalone business. In it's own interests that will yield them asset value growth. Which is their business pattern

Of course this is far more legit. I'm not concerned at all.

 

[Eggsyblueskin]

The money of 777 Partners was NEVER THEIR MONEY, it was A-Cap's via Haymarket etc and was ordinary American's investment money

It was like gambling and they intended to use OUR STADIUM as security for loans to prop up their businesses

This seems very different. This is a shareholder loan that will be converted to equity on completion. It is their money and they've given no indications they intend to do anything than run Everton Football Club as a standalone business. In it's own interests that will yield them asset value growth. Which is their business pattern

To be fair they have given no indications of anything yet and probably won’t until they are able to take possession of the club .

 

[SerenityNigh]

Friedkin brings a similar passion to football as he does to aviation, according to one senior figure in the sport who knows him.
“He’s not doing it for fun and games. He feels every ball that’s kicked. When you’re with him and there’s a Roma match on, he’s got it on his phone,” the person said. “He’s a master of many trades [but] he knows what he doesn’t know. His instincts as to who the right people are in football are improving over time.”


In his short time as Roma’s owner, Friedkin has hired and fired Portuguese manager José Mourinho, reinforced the squad, decreased external debt and outlined plans to build a new stadium. Lina Souloukou, the Greek chief executive of Roma, previously told the Financial Times that the Friedkins “see themselves as custodians of an institution loved by the fans”.

So you’re telling me we won’t be hearing more of Kia Joorabchian giving advice to the club?

 

[SerenityNigh]

I sort of get what you mean, but football ownership is now a choice of going one of two ways;

1/ Multi-club stables

2/ Ownership by a state that usually involves states that decapitate people for being homosexual. Or throw them off buildings.

Personally neither are ideal but if them’s the options in modern football I’ll take option 1 every day.

Also, is it a prerequisite to have a blue in charge? Bill Kenwright was a blue and that didn’t go well - longest period without a trophy etc. Even Peter Johnson managed a trophy in his time.

Spivs over shivs, it’s what I always say

 

[edge]

How much has be paid you?

I always look out for his scouting reports , top man at that game

 

[SerenityNigh]

So does this mean ACAP have no rights left in the club? Asking for a twitter friend.

 

[Damo_1878]

So does this mean ACAP have no rights left in the club? Asking for a twitter friend.

They still are a junior creditor.

R&MF are (currently) still a senior creditor.

MSP and Blythe Capital are not longer senior creditors and have been repaid.

Although a new loan may have been taken out to Freidkin Group in paying the above. Which they intend to convert to equity when they get Premier League approval to take majority ownership

 

[SerenityNigh]

Would be great to be run by competent business people. I've not seen Everton run well, ever, really. That's a huge thing for me, because of the massive upsides that go with it. It's ridiculous to reflect on how we've been mismanaged for decades.

Also someone with money. No offense to Bell and Downing who are probably sound as anything but the club also doesn’t need another ownership that is *almost* wealthy enough and survives by rotating credit.

 

[RomanReigns]

So does this mean ACAP have no rights left in the club? Asking for a twitter friend.

ACAP are ACRAP

 

[Groucho]

When did corner flag poles get so girthy?

My pole has good girth.

Listen, you mentioned it……

 

[davek]

I sort of get what you mean, but football ownership is now a choice of going one of two ways;

1/ Multi-club stables

2/ Ownership by a state that usually involves states that decapitate people for being homosexual. Or throw them off buildings.

Personally neither are ideal but if them’s the options in modern football I’ll take option 1 every day.

Also, is it a prerequisite to have a blue in charge? Bill Kenwright was a blue and that didn’t go well - longest period without a trophy etc. Even Peter Johnson managed a trophy in his time.

I think there's more choices than those two options. There's thousands of professional football clubs across Europe. How many are involved in multi-club ownership or owned by Saudis?

I dont want a blue in charge either.