The Friedkin Group reaches agreement to buy Everton

[PercyThePig]

Got to be made clear to any potential buyers now that they’re going to have to be willing to pay off the 777 debt if they want to go any further in discussions. Waste of time otherwise.

Don’t think the amount we owe to 777 is the issue - it’s moreso where that 777 money came from originally.

It’s stinks of fraudulent and nefarious dealings, and I can’t see the courts allowing anyone to liaise with 777 to clear it, until they determine whether it was their’s in the first place to actually spend.

TFG, or anyone for that matter, don’t want to deal with the implications of it all.

 

[badloaf]

I'm going to bury my head in grass roots football for a while until this mess goes away.

It’ll have to be pretty long grass to hide the sight of this circus.

 

[Tramps_mate]

I bet theres no early repayment clause...

 

[Eggsyblueskin]

That Roma friendly feels a bit ………awkward now doesn’t it.

 

[Nymzee]

Still in the same position because the money would’ve just come from somewhere else.

I mean sure, but it wasn't at the time was it? Who else was offering it up when we needed it?

 

[DanEFC92]

I mean what do you even say? Its a never ending mess.

 

[AndyRJ]

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

True. But the same requirements would still apply so ACAP would need to turn their loan into equity and invest more money by repaying TFG.

They aren't going to be able to do that with this investigation ongoing.

 

[PhilRegan]

It's saudis or bust for us.

 

[Brett Angell Delight]

We should never enter a period of exclusivity with anyone. It should simply be, here’s our accounts, first one to buy us, wins.

And so nobody enters due diligence for fear of wasting time and resources so some chancer can gazump them.

 

[ForeverBlue92]

Ultimately, Friedkin Group could have paid off the loans owed to 777. Reading between the lines, they were buying the club on the hope of 777 crumbling and them not having to pay back the loans. ACap have kicked up a fuss so Friedkin has decided he doesn't want to either pay them off in full / fight a court battle.

In that scenario, its no great loss. The club need committed owners willing to spend cash. The lack of backing of the DOF when trying to compete with the mighty Ipswich for Philogene was a red flag.

 

[kenada_blue]

Gloat?

I told you about 2 months ago this lot were spiv car salesmen.

Nowhere near the right people to own this club.

Thank God they've been found out for the no marks they are and we can get a bigger and better owner in.

Pretty sure the Miami coke dealers who have £200mill in to club are the blame rather than the car salesmans inability to get it over the line.

 

[oglop44]

Its R&M + 777 + TFG now isnt it?

Isn't the R&M loan the one that we pay off every year with the tv money then instantly take out again? Not sure we're getting out of that cycle any time soon.

 

[Nymzee]

The lack of backing of the DOF when trying to compete with the mighty Ipswich for Philogene was a red flag.

????

We both offered the exact same amount you fanny.

 

[tsubaki]

That they walked away from this mess just proves to me they were (and are) the best people to take us over.

 

[Frenk]

Friedkin hell! The only hope we have now is that trump wins ends all the wars in the world and uncle Uz comes and parks his yacht next to BMD. I give up Davek wins.

He just wasn’t rich enough that’s how I will look at it. Stupid bloody Texan.