The Friedkin Group reaches agreement to buy Everton

[Street end man]

So do we now owe this group big money? obviously they've settled other debts but does anyone know who the creditors are now. I'm now lost with it all.

 

[torontotom]

Well that was a nice hopeful few weeks we had there.

Whatever the price Mosh set time to lower it.

 

[Bristol Blue]

Anyone think Dell, Bell and Downing will show up again?

You’d expect anyone with anything about them wouldn’t touch us for the same reason these guys have walked away. What an absolute mess he’s made of us

 

[Blue_Berry]

JPMorgan having bought the bond, doesn't change the terms of the original loan agreement.

You can only call it in at "any moment" if the terms are breached.

Also, unless I've missed something, there's nothing there to suggest that the 777-600 bond owned now by JPM is 'secured' by the debt owed by EFC (now) to APAC.

Without that, this is basically just a (part) hedged funding position by APAC, and so JPM would have no look-through to the EFC loan.

 

[PSB1]

At least we're now open to sound owners. Pugh, Pugh, Barney McGrew, Cuthbert, Dibble, Grubb.

 

[Tony’s Carp]

If we're looking for an alternative I hear Josh Wander is serious about buying football clubs.

 

[pfim]

If we're looking for an alternative I hear Josh Wander is serious about buying football clubs.

Just not paying for them...

 

[Efcjake]

 

[st.domingo]

 

[Joey66]

Anyone think Dell, Bell and Downing will show up again?

Evidently they got engaged & told him it was a non runner because of the debt of 777....

 

[mahermi1]

What a day to be alive.

The arse falls out of the deal to buy the club and @davek returns.

Surely you're not surprised, he's like a Vulture. this is his version of Pornhub

 

[Blue Smoke]

I'm through with this club. Its seriously a mental health trigger.

 

[Cake]

It is widely known that 777 had lent us £200 million. I would have thought any new owner would have been looking to pay off that debt (Friedkin paid the £158 to MSP) could someone explain what makes the £200 million owed to 777/A-Cap so toxic as to scupper the deal? Is it the fear that that legal authorities may view whoever pays that debt off as being embroiled in some form of money laundering?

777 leveraged loans for others from American pension funds. Now they have effectively gone bust there is no way of getting that money back into those pension funds so nobody notices it was gone. This will affect thousands/millions of peoples lives in America, the effects of which are yet to be fully revealed. 777 will hope beyond hope that Everton and their other disasters get resolved soon otherwise they might find something in their tea except their cell mate's todger.

777 are chancers. Friedkin is an 'honest, upstanding All-American Christian success story'. They would either not want to be associated in any way with repaying funds initally 'embezzled' from such a sensitve source or 777 haven't been declared bankrupt quickly enough which would possibly allow them to only have to repay a portion of that £200m debt. Either way, both their reputation and money remain intact.

 

[chopper6]

The worst bit for me is that I had just started feeling optimistic & positive again about our future.

Flattened

 

[jazzy]

What about working capital Guilia ?

If Moshiri refuses to fund us on a day by day basis the only way we can survive is by selling players and using the proceeds as working capital.

This lawsuit could tie us up on knots for years.

The only way forward is if someone who is so rich that they don't care about the implications of the lawsuit buys us , and that's not going to happen.