The Friedkin Group reaches agreement to buy Everton

[Damo_1878]

Again, that's an opinion and doesn't seem to be shared with the potential bidders of the club. They don't want to pay off the loan in full because they don't believe the club is worth that much.

This right there.

Plus the associated liability risk from the Leadenhall case

 

[goldfinchmule]

My fears also, if a reputable business like the Friedkins walk away after seeing our balance sheets...

And the fans bed sheets.

 

[bluecanada]

Because the majority of it has been used to fund the stadium, an asset that belongs to the club.

It was reported a lot of it was for day to day running of the club, which Moshiri would of had to pay.

 

[f.t.r.s]

So are we basically blagging other groups to pay for the stadium then?

 

[AndyRJ]

It was reported a lot of it was for day to day running of the club, which Moshiri would of had to pay.

The vast majority of it was for the stadium. We were on the hook to LoR for something like £15-16m every single month.

 

[BornBlue76]

So many things don’t pass the smell test:
- TFG didn’t need to pay the MSP.. they chose too. To plough in that much cash before doing a due diligence seems reckless. So they were certain they wanted to invest at the time. The MSP thing really just allowed the EPL to confirm them. They didn’t need to do that before they had performed their due dilligence
- I don’t see the 777 debt as an issue unless there is some underlying issue in the terms. Or it legally cannot be paid until the litigation issue is sorted. (I have no idea). TFG could lend the money to Everton who in turn just convert the 777 debt into a TFG one in effect. 777 out the picture and their issues don’t affect us or TFG.

 

[mikel_88]

Havent read all the way back but found out they also walked away from the roma takeover aswell. Just have to wait it out does look like a way to put pressure on 777 and moshiri to cover the difference or accept less

 

[pfim]

TFG playing games



No mate because if that was the case they would not have made a bid for the club knowing the debt position.

Their issue is a liquidity one.

So they don't have the $200 million to pay off the 777 loan? I find that highly unlikely.

They want ACap to take a haircut. ACap may even be receptive to it, but it would create a contingent liability.

 

[Daytripper]

Havent read all the way back but found out they also walked away from the roma takeover aswell. Just have to wait it out does look like a way to put pressure on 777 and moshiri to cover the difference or accept less

Waiting it out is a risk considering this is a club that has been involved in relegation battles and arguably has one of the most mediocre squads in the Premier League. The club desperately needs a revamp for the better and the longer this drags on is a potential detriment to that.

 

[Cels]

I feel like this is a good time to remind everyone here how much responsibility Bill Kenwright has for this current situation.

Why? What good does that serve?

 

[Melchizedek]

What is more likely to happen first, moshiri successfully selling Everton, or an asteroid impact destroying civilization and returning us all to the stone age?

Probably Stone age.

 

[Bkk Andy]

No. I mean, no? What? That supposed $1 Billion asset comes with a boat load of debt.

It's an asset that's pretty much worthless outside of the club too.

 

[Exeter_Gently]

Someone bell Jon Jay Moore again.

 

[StHelensBlue]

Jesus, we're done! No one will take that debt on, unless Moshiri drops his price.

 

[atrottel]

- I don’t see the 777 debt as an issue unless there is some underlying issue in the terms. Or it legally cannot be paid until the litigation issue is sorted. (I have no idea). TFG could lend the money to Everton who in turn just convert the 777 debt into a TFG one in effect. 777 out the picture and their issues don’t affect us or TFG.

But let's say we pay off the whole 777 debt to whoever (or put it in escrow). Why should the other lenders then take a reduction on what they get in return for their loans?