The Friedkin Group reaches agreement to buy Everton

[Toffeepot]

Administration is still happening

no it isn't

 

[Mrk]

I'm not worried about admin, at some point the club will be sold and Moshiri will walk away with nothing if the club does go under. If the 777 debt is a sticking point then he will simply have to reduce his asking price to make taking it on worth while to a potential owner. Or, him and Usmanov are waiting for Trump to get voted in, him to give Russia whatever they want to end the war, sanctions get lifted, Usmanov formally comes back in.

But it's just gutting because Moshiri is a toxic presence at this club and I just want him gone.

Apparently he was only going to receive 25-50m for his stake, he can't lower it much more, and even if he did, it wouldn't make a dent in the £200m we owe to 777.

 

[MikeH72]

There is asbolutely no way ACAP would pass the Premier Leagues OADT whilst in the middle of a legal case surrounding the money lent to us by them/777.

ACAP are just a lender to 777, they aren’t actually linked to them in any way as an entity.

 

[Thomasc]

The club needs to die

I’ve had enough

Bollox to the stadium

Bollox to Kenwright the scumbag

Bollox to Moshiri I wish him very bad harm for the rest of his existence

 

[Damo_1878]

An official, boring statement agreed by both parties has to be done. But the situation is crying out for Mosh or even Chongy or Kev to release something directly to the fanbase (and employees) briefly reassuring over the short term operations. Won’t get it, possibly because there is ZERO plan. This looks to have come out of nowhere. But need something.

Total radio silence is unacceptable at this point.

Even if they did.

They just mislead people

 

[Tony’s Carp]

12 months

You think we are "well funded" for the next 12 months? With an annual loss to fund and a stadium to complete?

 

[Toffeepot]

Who pays the monthly wages?

Moshman

 

[Furey1878]

I don't like the Saudi's but boy do I wish for one of them to buy us right now and end this.

I feel the same mate. I don't think there is an ethically sound billionaire out there, it says a lot that you have to be a raging capitalist hedge fund, a sovereign state or Bond villain to own a premier League club these days.

 

[PKwalnuts]

This club keeps getting better

 

[Eggsyblueskin]

Haven't Friedkin Group got security over the stadium AND all of Moshiri's shareholding as part of their loan agreement?

If that's the case then any non-payment when that comes due would surely mean they will just take the club rather than push for Administration?

It appears they don’t want to own the club.
Maybe they will temporarily defer repayment when it comes due?
But it’s clear they have no wish to own the club under current conditions.

 

[Damo_1878]

You think we are "well funded" for the next 12 months? With an annual loss to fund and a stadium to complete?

12 months is usually what is defined as short term

 

[Alanbileysfeathercut]

Start boycotting sports direct just in case..

 

[Lapeno77]

Well, at least The Esk' will be kept busy

 

[pfim]

Myers being the first to quell the meltdown doesn’t fill me with confidence

But it's logical. Administration typically happens because of a short term cash flow issue. That was resolved when the MSP debt was paid. We continue to trade players at par or profit, the wage bill is significantly decreased, and if we take the statement at face value (haha) it appears the stadium is funded.

 

[AndyRJ]

Sure, but they'd have to be in default to exercise that right. If there are no payments due or the debt is serviced properly, we carry on.

There will surely come a apoint when it is due. 12 months or so maybe? We might be ok short term but i imagine we'd need to find another buyer within the next 12 months before the hits the fan again...unless we're counting on the extra income from the stadium to help keep us afloat?