The Friedkin Group reaches agreement to buy Everton

[davek]

Lol. Dave, an "expert" on football, architecture, history, psychology recommends ignoring "fan experts". It appears the one thing he is not an expert in is self-awareness.

If you can read properly you'll have understood that I dont claim to be an expert at football finances, and those who do are having a laugh if they think they know the full weight of this club's financial affairs. They know nothing of the sort <----my point that went over your head, obviously.

 

[davek]

What fresh hell is this?

People championed them because they look like people who can actually run a football club in some kind of organised fashion.
When takeovers happen, people do ‘due diligence’ on the books. This is when they deep dive the finances and look at what actually is rather than what the seller claims. And it seems that the details aren’t as they expected.

The good news? They weren’t the only people interested, so all should be fine

People like you bought into them as a realistic ownership group. They cant even keep funding Roma FFS...a point made a number of times but IGNORED.

 

[davek]

I agree entirely with the sentiment, but it is mightily difficult to divorce football from finance. At least it is for Evertonians these days.

The truth is in the middle usually, things are rarely quite as bleak nor quite as benign as posited by the Twitter/X experts, and already today I've read very contrasting analyses on what this means for us.

We must be creating a record for the amount of exclusivity periods that ended in no deal, that's for sure.

All this accounting and finance stuff does impact the team though. The points deductions alone speak to that.

We'll be fine mate.

This club's modus operandi is crisis management.

Get a couple of goal scorers in and retain Branthwaite and we'll be midtable.

 

[TrixyStevens]

I really hope there are more credible professionals looking to buy that 91% stake.

 

[Zatara]

What I'm saying is that they were not going to wait and restructure, they wanted to have clarity on the 777 debt now. Meaning they did not value the club at the sum of the debts plus the payout to Moshiri (in other words, the asset value). Why try and restructure the 777 later? You have the leverage now.

They paid off MSP and B&D because that debt matured and they were able to secure it against assets, just like the other guys did. Risk is low and they are probably making good money off that.

If anyone valued the club at 1 billion (or 850 million), we would not be having this conversation. We'd have our pick of suitors and the deal would close rather quickly.

"Meaning they did not value the club at the sum of the debts plus the payout to Moshiri (in other words, the asset value)"


These details on the debt amounts are and have been public knowledge.

Therefore they valued the club at a higher amount than the debts.

If they did not then they would never have paid MSP + B&D as per Moshiris request to proceed with exclusivity.

I dont know how this is challenging.

 

[windymiller]

If you can read properly you'll have understood that I dont claim to be an expert at football finances, and those who do are having a laugh if they think they know the full weight of this club's financial affairs. They know nothing of the sort <----my point that went over your head, obviously.

An expert on reading you are not, David. At no point did I state you claimed expertise in football finance (although I'm sure a quick jaunt through the vaults would confirm you have claimed some in the past). I highlighted your other (fake) areas of "expertise" and pointed out the hypocrisy of you warning others about fake experts. You are second only to @Damo_1878 in self-aggrandisation.

 

[Eggsyblueskin]

If Putin called a ceasefire under "certain obligations" which the West accepted, you would be suprised how quickly Oligarchs would be welcomed back into the West.

We allow regimes that stone gay people and use slave labour into buying football clubs and hosting World Cups.

Whilst I do not believe that Moshiri is purposely holding back selling the club, if he is, then maybe he knows something Joe Public doesnt know ?

If Usmanov is as close to Putin as some claim he is, then maybe, just maybe, he knows he'll be back in the frame in the near future ?

First of all the war in Ukraine has emphasised what most already knew , Putin is a dictator and he has created a corrupt totalitarian state . Those who surround him and back him, publicly call for the re occupation of former Soviet Block countries.
Putin and his state are a hostile force on the borders of Europe .
Usmanov is undeniably close to him .
Russian money is not going to openly re enter this country without a revolution that removes Putin and his acolytes from power ( and yes that includes Usmanov.
To think otherwise is to wilfully ignore the situation or to be Farage or Trump .

 

[Damo_1878]

Luckily i have experience in this field.

I can see you do not.

What experience is that then? Because it looks to me like you've got zilch

Even a US lawyer @Hellerad who works in the field said you got it wrong

This is not exactly true re: US legal system. Debts owed to 777 are complicated by their source of the funds and their creditors. Payments “due” 777 have strings attached that will necessarily pull in their creditors and tax agencies where 777 is in breach of separate loans and/or defaults.

Source: I’m a US attorney. Specializing in banking, commercial bankruptcy, and collections.

 

[pfim]

"Meaning they did not value the club at the sum of the debts plus the payout to Moshiri (in other words, the asset value)"


These details on the debt amounts are and have been public knowledge.

Therefore they valued the club at a higher amount than the debts.

If they did not then they would never have paid MSP + B&D as per Moshiris request to proceed with exclusivity.

I dont know how this is challenging.

It’s not challenging. They paid those debts off to enter exclusivity but also leapfrogged the 777 debt. They have security.

They don’t believe Acap is in a position to wait for their money and wanted to restructure (not refinance, restructure) that debt.

Again, if they felt the club was worth 850 or a billion, the deal would have closed regardless of the 777 debt, there would be no leverage issues with the PL

I’ll just end it here. Whatever the issue with 777, they didn’t feel it was worth the risk to move forward.

 

[Daytripper]

Being a mid table team isn’t fine. It’s that line of thinking that lowered standards years ago because of what happened against Wimbledon and Coventry.

And saying something is “fine” is such a cop out answer.

 

[matty1878]

someone else will want us

i know it.

i just don’t know when now if they will smell a fish

 

[Victus]

someone else will want us

i know it.

i just don’t know when now if they will smell a fish

Hope so, trying not to read about this tbh, it's miserable.

 

[billyblue80]

Moshiri killing this club. Two years of limbo accruing debts to criminal enterpises so dodgy even new owners turn their noses up. Where we go from here i don't know.

 

[The binman chronicles]

"Meaning they did not value the club at the sum of the debts plus the payout to Moshiri (in other words, the asset value)"


These details on the debt amounts are and have been public knowledge.

Therefore they valued the club at a higher amount than the debts.

If they did not then they would never have paid MSP + B&D as per Moshiris request to proceed with exclusivity.

I dont know how this is challenging.

They may see the buying out of MSP as a good investment. Hefty interest to get a good return regardless, stops MSP swooping in to gain half the club and should things go south they've got first dibs to buy on the cheap.

 

[billyblue80]

Moshiri needs to pay some of that loan or take a haircut on his price or he will never get a bean for this club