The Friedkin Group reaches agreement to buy Everton

[Dr Baxter]

Typical Moshiri picking the wrong option when there was at least 5 takeover bids.

In Kenwright's case, there were probably 50 possible buyers.

 

[Zatara]

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

The new yanks are frightened about the old yanks having been accused of fraud and there being cases.

But that doesnt stop the new yanks settling the old yanks loans.

The new yanks didnt want to do that. They didnt want to open their pockets.

 

[peteblue]

Cannot name names but I've heard from someone high up at EFC (the playing side) that might be their tactics again. Watch this space.

That was my first thought…..

 

[blue to the bone]

 

[Goat]

Oh well, back on Ebay we go.

 

[Joey66]

The new yanks are frightened about the old yanks having been accused of fraud and there being cases.

But that doesnt stop the new yanks settling the old yanks loans.

The new yanks didnt want to do that. They didnt want to open their pockets.

You never pay 100% of debt to any firm going into administration, but it could take years for a sort out & they 777 may get done to be associated with that debacle has stopped the deal as we owe them 200 million to a bent firm .... plus they are both in the USA & could be implicated in the deal of buying us - so that's the crux of it sad, but understandable ....

 

[Toffeeslam]

Well, well, well.

This is terrifying.

Your easily terrified mate

 

[TyphooToffee]

Cannot name names but I've heard from someone high up at EFC (the playing side) that might be their tactics again. Watch this space.

Hmm, interesting

 

[GoldenToffee]

Watch Jarrad do his cruciate ligaments in today n'all.

 

[Goat]

Your easily terrified mate

I'm not.

Only Everton makes me nervous.

 

[St Domingos]

This will be the reason. They only paid off MSP because they had to.

Good luck telling that to the bedwetters who will use this to bash the club as usual.

Lets hope Staveley brings in some Middle Eastern Royalty and leaves these penny pinching Americans in the mud.

i heard she is buying shares in spurs

 

[maccavennie]

Oh well, back on Ebay we go.

Got no chance of getting sold on Ebay, too many terms and conditions.

We need to be flogged in a dodgy place like Cash Converters

 

[kiss the crest]

I think we have missed out big time with these guys, someone who has experience in running a football club and making them better on and off the pitch over a short period of time, obviously had big plans for Everton.

Anyone looking at our books now will have the same issues with this 777 fiasco, it will deter people from entertaining the club, we are stuck in limbo once again, the Kenwright legacy lives on

 

[Toffeeslam]

I'm not.

Only Everton makes me nervous.

Why ?

You have no control over it so why get stressed ?

 

[Zatara]

But Why?. From what I have read, Moshiri doesn’t want much for the actually club. I think it was Bobble that said he only wants like 50mil. So any potential buyer is paying Moshiri the figure he wants, and then has to finish the stadium and sort the debts out. So say that comes to around 500mil, that’s about right for a PL club anyway, so what am I missing?.

Potential liabilities that arise from the 777/ACap case with Leadenhall

That they on addition to the £200m could be chased for as a consequence of 777/ACap

If damages get awarded it, basically

As a consequence of the 777/ACap loan agreements etc

1. I never said this because I don't know the terms of the loan. It could be due within 6 months for all we know.

2. I never said that it needed to be repaid early, not once.

3. Why would the administrators take drastically less from a business that has the ability to pay?

Again, the full 200 million is still due. I've seen collections in bankruptcies extend 2-3 years. The trustee works for the creditors. They will do what's in the creditors' best interest.

Having said that, there is no administration. There is no bankruptcy. There is no administrator or trustee to negotiate the repayment of the debt.

Because of that, the 200 million is due until such a time that another agreement is made with the lender.

Because the club isn't worth that much.

This last post by @Billy Dean includes what i have stated in this thread a few times.

TFG could simply pay the 777 loan off. It really is that simple.

They did not want to do so. They wanted to restructure it when the stadium is built.

So for the sake of 6-12months and finishing off the stadium they have pulled out.

The club with the stadium will be worth £1bil+ so they saw a chance to pickup the club with £200mil.

Certainly looks like they would have been more focused on Roma based on their willingness to pay their debts off as opposed to only paying a far smaller chunk of ours.

Bullet dodged.