The Friedkin Group reaches agreement to buy Everton

[Moomin]

Apparently there are options on the table for them as far being involved with the running of the club.

I wouldn't be mad at with that.

The Forum's Sheldon Cooper will be pulling you up on this statement.

 

[Exeter_Gently]

The Forum's Sheldon Cooper will be pulling you up on this statement.

I know...if they DM me I'll send them the message I got.

 

[Damo_1878]

I would be surprised if Friedkin offered either Bell or Downing seats on the board, they will surely want all of the appointees to be their own picks.

It would be great to have a varied board, containing people with expertise across different functional areas - finance, football business, commercial. But they can surely look to achieve that without going down the token blue route. If anything I think a bit of cold-blooded objectivity towards how the club is run is what we need.

It's hard to get an idea of what they will do. It's unlikely they will have a board entirely of people linked to them, the point of independent non executive directors on the board, is to give independent advice and expertise including deciding on director's pay and remuneration

(something the last "board" thought it great they should decide their own pay and pay offs! The last board wasn't a real company board. It was Kenwright's management committee as he just wouldn't have contrary voices to his own on it)


We can however get some idea of what they will do from AS Roma:

AS Roma have an 8 person board of directors, including Dan Freidkin and Ryan Freidkin

Their CEO and COO aren't on the board.

Benedetta Navarra is an independent non-executive director
Ines Gandini is an independent non-executive director
Mirella Pellegrini is an independent non-executive director

Versus 5 other Friedkin appointed directors including Friedkin snr and Friedkin jnr.

This is much more what you would see in a proper company board and is absolutely what I have been calling for at Everton FC for more than 4 years including during #AllTogetherNow

 

[Eggsyblueskin]

Let’s be honest none of us on here has anything beyond a vague idea of what is going on currently .
It has all gone very quiet.
Still no confirmation of sale agreement.
And no mention of any approach for PL approval.
Everything is probably taking place quietly and professionally.
But….
After Moshiri’s curiously dogged and prolonged pursuit of a deal with a bunch of genuine crooks , only foiled by them essentially going bankrupt amid a flurry of bad faith lawsuits , and the PL refusing to approve the sale. I remain sceptical of any sale progressing completion

 

[lieneverton]

Let’s be honest none of us on here has anything beyond a vague idea of what is going on currently .
It has all gone very quiet.
Still no confirmation of sale agreement.
And no mention of any approach for PL approval.
Everything is probably taking place quietly and professionally.
But….
After Moshiri’s curiously dogged and prolonged pursuit of a deal with a bunch of genuine crooks , only foiled by them essentially going bankrupt amid a flurry of bad faith lawsuits , and the PL refusing to approve the sale. I remain sceptical of any sale progressing completion

I'm of the same view. It could be that some sort of due diligence is going on, but our communication and stewardship has been so negligently incompetent for so long that we're all quite right to be cautious about it. Let's hope it's just due process taking place.

 

[jamieni]

I'm of the same view. It could be that some sort of due diligence is going on, but our communication and stewardship has been so negligently incompetent for so long that we're all quite right to be cautious about it. Let's hope it's just due process taking place.

It will be. I’d imagine if Friedkin was going to walk away there would be plenty of noise to that effect. In the interim it’s just idle speculation to fill the void. The way these folks operate is much different to 777, so there won’t be a statement until everything is finalised either way.

 

[BainesontoastNEW]

I'm of the same view. It could be that some sort of due diligence is going on, but our communication and stewardship has been so negligently incompetent for so long that we're all quite right to be cautious about it. Let's hope it's just due process taking place.

Honestly, all you really need to do is look at the pre-season friendly v Roma being organised. I'd be stunned if that's been arranged without a view to the Friedkin's.

 

[chippy1722]

It will be. I’d imagine if Friedkin was going to walk away there would be plenty of noise to that effect. In the interim it’s just idle speculation to fill the void. The way these folks operate is much different to 777, so there won’t be a statement until everything is finalised either way.

Exactly, no news is good news. Don’t think our fans actually realise how much boring stuff goes on behind the scenes when dealing with takeovers of this magnitude.

 

[Lobworm]

Honestly, all you really need to do is look at the pre-season friendly v Roma being organised. I'd be stunned if that's been arranged without a view to the Friedkin's.

Mass brawl to see who gets the most money? I'd have preferred the away leg first tbh.

 

[Lobworm]

Exactly, no news is good news. Don’t think our fans actually realise how much boring stuff goes on behind the scenes when dealing with takeovers of this magnitude.

You mean it's not...
"How Much?"
"500 Mill"
"Done"
..?

 

[kev]

Friedkin group first 'expressed an interest' in buying AS Roma in December 2019. I'm not sure when negotiations actually began, but the deal wasn't completed until August 2020.

 

[Eggsyblueskin]

It’s not the Friedkin side that is the issue really .
It’s the presence of Moshiri on the other side of the deal that now causes concern.
The pursuit of 777 was so unfathomable it has for me raised serious concerns as to whether any willingness to sell is actually genuine .

 

[Tipp blue]

Surely he would've been aware of such before he decided to approach us either way..

100% It's difficult to imagine a scenario where the papers get signed and everything is done and Moshiri says "oh and by the way I forgot to mention the hundreds of millions more of debt that you are on the hook for"

 

[SerenityNigh]

I'm of the same view. It could be that some sort of due diligence is going on, but our communication and stewardship has been so negligently incompetent for so long that we're all quite right to be cautious about it. Let's hope it's just due process taking place.

It’s all one step at a time. The signs are clear. Replaced expiring debt. Scheduled a friendly with Roma at Goodison. We want this sale done but it’s more complicated than a player transfer and we all know how the club do these.

 

[Goat]

I'm of the same view. It could be that some sort of due diligence is going on, but our communication and stewardship has been so negligently incompetent for so long that we're all quite right to be cautious about it. Let's hope it's just due process taking place.

I think its pretty normal for these things to go quiet.

No news till theres news kinda thing.

It was always going to be a long process, they arent buying a phone from Ebay here.