The Friedkin Group reaches agreement to buy Everton

[peteblue]

All ifs buts and maybes again. I’m simply dealing with the facts that we’re staring the abyss in the face thanks to this owner. You say it won’t be long before we have new owners, how have you come to this conclusion? This 777 legal case could take years. What happens in the meantime to the club?

The 777 legal case is just that, a case against 777. It is not a case against EFC. A new owner either needs to indemnify itself, via insurance, or just deposit monies to the value of the contract for future dispersal to whomever the court deems the money should be given to. It does not mean that we must wait until the end of any such legal dispute. I think this is being blown up out of all proportion tbh……

 

[Hellerad]

The 777 legal case is just that, a case against 777. It is not a case against EFC. A new owner either needs to indemnify itself, via insurance, or just deposit monies to the value of the contract for future dispersal to whomever the court deems the money should be given to. It does not mean that we must wait until the end of any such legal dispute. I think this is being blown up out of all proportion tbh……

The issue is that you have to have the funds to interplead them.

What you’ve mentioned about insuring or structuring an indemnity to a buyer regarding the issue is likely the way to progress the sale.

 

[MikeH72]

The 777 legal case is just that, a case against 777. It is not a case against EFC. A new owner either needs to indemnify itself, via insurance, or just deposit monies to the value of the contract for future dispersal to whomever the court deems the money should be given to. It does not mean that we must wait until the end of any such legal dispute. I think this is being blown up out of all proportion tbh……

But we have lent money from them, so we are involved with the case. If it turns out that money was gained through illegal/fraudulent means, then our owner is implicit in a fraud case.

Nobody will buy the club while this case is ongoing and/or that debt is still sat there. It’s a potential reputation killer if they are seen to have paid back £200m to fraudsters that was originally obtained through ill gotten gains.

 

[MikeH72]

How do we get rid mate?

Personally I think the fans need to turn on Moshiri and demand he settles the debt that he’s saddled the club with. Only then will we be sold.

 

[Frenk]

Personally I think the fans need to turn on Moshiri and demand he settles the debt that he’s saddled the club with. Only then will we be sold.

That’s nice and all but truth be told he doesn’t give a crap what you, I, or anyone else thinks.

 

[MikeH72]

That’s nice and all but truth be told he doesn’t give a crap what you, I, or anyone else thinks.

I seem to remember people saying this during the board protests as well. “They’ll never listen they’re not arsed, what’s the point”. Then they all resigned en masse

Do you have an alternative suggestion?

 

[Frenk]

I seem to remember people saying this during the board protests as well. “They’ll never listen they’re not arsed, what’s the point”. Then they all resigned en masse

The board yeah, but this is the owner, he isn’t going anywhere until he sells the club. Truth be told he can do whatever the hell he wants.

 

[Exeter_Gently]

Personally I think the fans need to turn on Moshiri and demand he settles the debt that he’s saddled the club with. Only then will we be sold.

Don't think that would suffice mate...you've got remember who he answers too.

I don't think he cares one jot about our demands,in his head it's his club and thats that.

Other than me and you breaking into his gaff in Monaco,gaffa taping him to the ceiling, sticking a mop up his bum and getting him to sign the club over with a pen up his nose we've got no chance.

 

[MikeH72]

The board yeah, but this is the owner, he isn’t going anywhere until he sells the club. Truth be told he can do whatever the hell he wants.

He can’t sell the club though can he? That’s sort of the point.

 

[Frenk]

Don't think that would suffice mate...you've got remember who he answers too.

I don't think he cares one jot about our demands,in his head it's his club and thats that.

Other than me and you breaking into his gaff in Monaco,gaffa taping him to the ceiling, sticking a mop up his bum and getting him to sign the club over with a pen up his nose we've got no chance.

Maybe try some reverse psychology and shout his name to the rafters, make him feel like a king. Maybe it will make him put in some more money.

“All hail Mosh the greatest Toff!”

 

[MikeH72]

Don't think that would suffice mate...you've got remember who he answers too.

I don't think he cares one jot about our demands,in his head it's his club and thats that.

Other than me and you breaking into his gaff in Monaco,gaffa taping him to the ceiling, sticking a mop up his bum and getting him to sign the club over with a pen up his nose we've got no chance.

If it’s his club then fine, not a problem, he can fund it properly as such then rather than relying on high interest loans from fraudsters in that case. I suspect he wants to be able to have his cake and eat it though, and call the shots without investing in the business doesn’t he.

 

[Frenk]

He can’t sell the club though can he? That’s sort of the point.

He’s not doing a very good job of even trying to sell it though. He’s a lunatic. But he’s ours.

 

[MikeH72]

He’s not doing a very good job of even trying to sell it though. He’s a lunatic. But he’s ours.

He can’t sell it because there’s a £200m debt that’s tied up in a legal case. A debt that he landed on the club.

 

[Frenk]

He can’t sell it because there’s a £200m debt that’s tied up in a legal case. A debt that he landed on the club.

Showing he doesn’t give a crap about the club.

 

[mahermi1]

Would be interested to know what interest rate Friedkin is now charging for the £158m loan he took over for Everton off MSP and such.