The Friedkin Group reaches agreement to buy Everton

[Damo_1878]

Good news about Rossy come back though,Ey?

Touché

 

[Zatara]

We aren’t finishing this stadium any time soon. It’s always ‘we need another 100+ million’, there’s always something slowing it down and making it astronomically more expensive than forecast.

The TFG message infers the stadium is paid off.

 

[allen]

Seriously matty. You need to take sentiment and emotion out of it all. It's a hinderance you don't need

What else is there?

None of us would be here without those two things.

Clown advice.

 

[jazzy]

WTF. There must be something in the books that scared these guys off and presumably will deter any other bidder.

 

[Ferguson1878]

Where does this leave us now? Are we going to have to sell Branthwaite this window?

Yes

 

[Liam-EFC]

 

[Damo_1878]

What else is there?

None of us would be here without those two things.

Clown advice.

My advice is

Don't get wound up about it all

I'm not bothered by anything on here. Learned that over decades

 

[Exeter_Gently]

That Data room must been like going on the Ghost train in Blackpool.

 

[MichaelEFC96]

Where does this leave us now? Are we going to have to sell Branthwaite this window?

No. I think we'll stick to our asking price

 

[Curtis]

This development has just reinforced a vital lesson when supporting everton never exhibit optimism towards this dumpster fire of a club otherwise you'll get burned

 

[Bluewolf]

You have it backwards. If Everton filed bankruptcy, they'd likely settle the debt depending on the security (or lack thereof).

If a creditor files bankruptcy, the trustee would go after the debtors (Everton) and collect as much of the debt as possible. They may take a haircut, but the majority will be paid.

All of this is moot because 777 is not in bankruptcy.

Thats not how it works.

If everton have a set payment plan set up to repay a loan/debt then the administrators that are brought in to deal with a company going into administration/liquidation can not force you to pay all of that debt back in a reduced time frame.

What will happen is the administrators will drastically reduce the debt to try to recoup as much money as possible from the loanee.

If the administrators could force the loanee to repay the debt in full it would likely cause a cascade of companies going into administration/bankruptcy/liquidation.

 

[nsno-chris]

Perhaps interesting that there wasn't a whiff of that news/statement in the press before it happened.

A whole lot of analysis now and reasoning being given within 2 hours of the statement - but not a peep prior.

The bond that JP Morgan purchased seems to mature in October this year.

I’d imagine some level of risk has been found there; it’s too coincidental that new broke yesterday about 777 bond and the this group pulling today

There’s got to be something underlying, and it doesn’t seem good

 

[Dymak]

Is it not now time for full scale protests against Moshiri and his shocking mishandling of our great club. The last protests were aimed entirely at ‘the board’ so it’s about time he faces some of the ire.

No. Such protests don't achieve anything other than giving us negative press that our haters feed on.

 

[neil999]

Reliable?

 

[pfim]

My advice is

Don't get wound up about it all

I'm not bothered by anything on here. Learned that over decades

MSP was a serious buyer, but frankly it is depressing that a legitimate buyer like Friedken couldn't get past the 777 debt. It also portends more uncertainty in the months to come, no one will touch the club without having the that resolved.