The Friedkin Group reaches agreement to buy Everton

[AndyRJ]

I think the process has some weeks to run yet .
General rule of thumb appears to be around 12 weeks for PL approval.
And that’s assuming they have even applied for PL approval at this point.
There has been no announcement of an agreement to purchase the club , that I am aware of anyway .
A period of exclusivity does automatically translate to a sale.
My guesstimate would be sometime during September.

They won't move forward with the OADT until they have completed their due dilligence and formally agreed the sale with Moshiri.

I think the sale will (hopefully) be agreed by end of July/ beginning of August at which point they will start to have more input into how things are being run, recruitment (both on pitch and off) etc. The OADT etc will then run for as long as it needs to take, likely September/ October time like you say.

Any delays in the process will come during this period of exclusivity. There are meant to be some skeletons/ issues that need resolving in the background which could still scupper the deal. They may also need to wait for some clarity on this whole 777/ACAP mess that is going through the courts.

 

[davek]

Hahaha lovely stuff.

You mean you're coming round to fact you've been absolute Jive Turkey for 10 days.

No, but I'm not going to keep barking at the moon. What's the point? When it's deal done it's deal done.

Hopefully we don't get that far.

But the identity issue and Roma's presence will ALWAYS be a feature of any such new ownership of EFC. It just will, and there's no point in believing otherwise.

 

[Joey66]

No, but I'm not going to keep barking at the moon. What's the point? When it's deal done it's deal done.

Hopefully we don't get that far.

But the identity issue and Roma's presence will ALWAYS be a feature of any such new ownership of EFC. It just will, and there's no point in believing otherwise.

Beggars can't ge choosers mate...

 

[davek]

Beggars can't ge choosers mate...

I think the issue is that when Moshiri's looking for maximum salvage we cant be choosers.

 

[davek]

A couple questions, first, what "social capital" are you referring to, and why is it Roma is insufficient to provide that to them?

Second, why wouldnt a club with top 20 revenue worldwide be as big if not bigger than a club who has less than that?

The social capital of being associated with a 146 year old cultural institution that has credibility the football world over. Roma has credibility also and they want more of that in other leagues.

The revenue / turnover issue I addressed above.

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[msb]

Well in the business acquisition I recently concluded, the enterprise value was agreed before exclusivity and due diligence were even started.

We the went through weeks of due diligence and after discounting the obvious fluff, as well as cash free/ debt free position, the final paying price was concluded.

So I would think that Moshiri and Friedkin have agreed the deal for exclusivity to happen, the data room is largely fully complete due to previous negotiations so it is a matter of his financial team checking the data and the lawyers agreeing documents - both of which could take months. Or weeks minimum.

 

[Exeter_Gently]

No, but I'm not going to keep barking at the moon. What's the point? When it's deal done it's deal done.

Hopefully we don't get that far.

But the identity issue and Roma's presence will ALWAYS be a feature of any such new ownership of EFC. It just will, and there's no point in believing otherwise.

The presence will only feature in your head mate, Genuinely I haven't give it a second thought.

Am happy that on face of it we've got well financed,competent people coming in to run the club.

 

[Toffe3m4n]

So the rumours about them being at Bramley Moore yesterday were true it seems!

 

[Goat]

Maybe @GrandOldTeam could autocorrect the above picture every time @davek posts?

 

[Mrtallywacker]

No, but I'm not going to keep barking at the moon. What's the point? When it's deal done it's deal done.

Hopefully we don't get that far.

But the identity issue and Roma's presence will ALWAYS be a feature of any such new ownership of EFC. It just will, and there's no point in believing otherwise.

Could have fooled me my son.

God bless.

 

[matty1878]

So the rumours about them being at Bramley Moore yesterday were true it seems!

pics?

 

[Toffe3m4n]

pics?

No matty, but they were spotted there as per the Echo report today.

 

[AndyRJ]

Well in the business acquisition I recently concluded, the enterprise value was agreed before exclusivity and due diligence were even started.

We the went through weeks of due diligence and after discounting the obvious fluff, as well as cash free/ debt free position, the final paying price was concluded.

So I would think that Moshiri and Friedkin have agreed the deal for exclusivity to happen, the data room is largely fully complete due to previous negotiations so it is a matter of his financial team checking the data and the lawyers agreeing documents - both of which could take months. Or weeks minimum.

They have certainly agreed a deal in principal or else they wouldn't have moved to exclusivity. A deal in principal however is some way away from formally/ legally agreeing to a sale as i'm sure you're well aware.

You'd like to think the due dilligence process will be straight forward and can be completed quickly, but this is Everton and Moshiri so likelihood is it will take much longer than we all hope!

I think it's going to be a 4-8 week undertaking and then the OADT process can start which could take a further 6-12 weeks.

 

[matty1878]

No matty, but they were spotted there as per the Echo report today.

the echo mate is a scummy newspaper

 

[PeregrineT]

The social capital of being associated with a 146 year old cultural institution that has credibility the football world over. Roma has credibility also and they want more of that in other leagues.

The revenue / turnover issue I addressed above.

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Well then that seems to contradict itself. On the second point you say what they are looking for is prestige(standing or estimation) "Turnover? That doesn't tell us much in terms of prestige.". On the first point you say what they are looking for is credibility(quality of being believed in/trusted) that they dont get enough of from Roma.

You havent explained what prestige/credibility gets them at all or even what "social capital" is just that for some reason they want it. They seem to really just be the same thing. In the start you say Roma dont have enough of it but we do, and in the end you say we dont have enough of it, Roma has it. It seems the only think you can harp on is one UECL they won AFTER Friedkin bought them. So was he prestige hunting when he bought a club without prestige, and then they finally won their first trophy in 13 years? Is it that he wants more prestige, but for some reason wont try and win trophies with us, and that will somehow get him that prestige he feels he lacks at Roma? Tell me, how does running a failed Everton gain him more prestige/credibility/social capital?