The Friedkin Group reaches agreement to buy Everton

[Tramps_mate]

Godzilla?!

Or his other name....


Michael Dell!!

 

[windymiller]

Or his other name....


Michael Dell!!

Isn't that guy just a really, really fancy loan shark? Sounds like Moshiri's kind of guy.

 

[LocalNative]

Have had a busy afternoon so apologies if this has been pointed out - but the specificity of the 777 loan being cited as the issue is interesting, I think?

It’s not just “we’re out,” it’s a specific reason - like, perhaps, a “fix this and we’d be back in,” kind of message.

Spot on.

 

[tirion]

I've lost count. MSP, 777, TFG and who was the fourth?

Bigger picture, over the last 30 years we have gone from Samuelson, the fella in his Ma’s box room in Manchester, Rocky, Phillip Green, Kenwright, Rafael, and we end up being dropped by a fella who’s party trick is flying an effin Spitfire, what an absolute circus this club is.
The Esk was right, administration is in everybody’s best interests.
Just awaiting the first Sligo 1 0 Everton update

 

[Woolverhampton_Blue]

Casually popped ‘Everton’ into google at work so I could keep up with the Sligo game, only to see the takeover has fallen through. FFS, Everton.

 

[Clarky cat]

 

[ForeverBlue92]

Somewhere, there's a common thread to the 4. I can't quite place it.

3 of them never had the dough to do a deal. The 4th does have the money but doesn't appear to want to spend it.

Moshiri doesn't benefit from the current situation. He's lost money and continues to lose it. The conspiracy theories need to stop.

Friedkin is playing silly buggers as he wants the club for a pittance. Whilst he's well within his rights as a businessman to do that, I hope someone of immense wealth and status, swoops in and gets a deal done.

Moshiri has been far too patient with these US chancers. Time to get tough with them.

 

[MikeH72]

“The more time that I have spent with the 777 team, the more my confidence increases that we have found the right people to take the club forward in the modern era," Moshiri is quoted as saying.

"They are highly professional and deliver exactly when they say they will, and I look forward to them achieving all their regulatory approvals and proceeding to completion on the timetable we set."

 

[Leylo]

I think someone bigger and better will appear through the smoke now!!

Tonight Mathew George formby

 

[GoldenToffee]

Was Moshiri set to get money for his actual shares from the Friedkins? Surely, given there were supposedly loads of offers, another period of exclusivity with a different group will be granted very quickly. Maybe this will weaken his hand and have him reduce his asking price / write off what he's put into the club?

 

[Exeter_Gently]

Anyone checked on Matty?

 

[Zatara]

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.

If it was 777 that Moshiri stipulated needed to be paid first im certain the takeover would go through.

As you say, weird they didnt lend the club the money to pay off 777 after MSP then get it back after debt restructuring once the stadium is built.

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.

Ive never said they dont have $200mil mate.

What ive said is they chose not to pay them off. Meaning they wouldnt want to inject further money into the club. Simply use long term debt once the stadium is built.

Their plan seems to be that for £200mil+ they obtain a £1bil asset with long term debt paid from annual increased revenue.

I am so confident this is the case.

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?

They shouldnt and nor should 777.

Remember all have separate agreements.

There is nothing to stop TFG paying 777 early aside from possible penalties in the agreement.

They chose not to invest more than circa £200mil + Moshiri payment into the club.

 

[Zatara]

This is clap trap. The fact you say the US legal system means nothing considering both 777/ACap and Friedkin Group are domiciled there is laughable

There is a major court case ongoing there

@pfim I'll let you deal with him.

Luckily i have experience in this field.

I can see you do not.

This 100%.

 

[windymiller]

“The more time that I have spent with the 777 team, the more my confidence increases that we have found the right people to take the club forward in the modern era," Moshiri is quoted as saying.

"They are highly professional and deliver exactly when they say they will, and I look forward to them achieving all their regulatory approvals and proceeding to completion on the timetable we set."

The man is an absolute menace

 

[NeilMorepies]

Is it not more a case that they could pay off 777, but they don’t want to waste the money if 777 are going to go bankrupt?