The Friedkin Group reaches agreement to buy Everton

[Exeter_Gently]

I believe you did understand that correctly, yes.

Any idea why it went to R&M?

Said it before these are a major fly in the ointment.

 

[AndyC]

Any idea why it went to R&M?

Said it before these are a major fly in the ointment.

Personally, no.
I'll ask.

 

[brieverton]

Every potential buyer is now going to be saying there are no buyers and the club is unsellable. The negativity and drum beating around administration will be ramped up. Buyers will have their own agendas.

 

[AndyC]

Any idea why it went to R&M?

Said it before these are a major fly in the ointment.

And @Blue peter, @MikeH72 and anyone else interested...

The loan from 777 - which came from A-Cap - was channelled to the club via R&MF because it was the only way to get money into the club without having to get the approval of Metro Bank and MSP (at that time)

 

[Exeter_Gently]

And @Blue peter, @MikeH72 and anyone else interested...

The loan from 777 - which came from A-Cap - was channelled to the club via R&MF because it was the only way to get money into the club without having to get the approval of Metro Bank and MSP (at that time)

That's absolutely terrifying.

Need them away from this club as quick as possible.

 

[windymiller]

Reckon we are approaching around 1m a week in interest with all these loans, actually thats probably a bit low.

Isn't the R&M loan around £40m a year in interest alone?

Edit: the original R&M loan, not the supposed R&M/777 hybrid loan. SMH, why are we such a basket case?!

 

[Blue peter]

I just hope we’re bought by an incredibly cash rich party whose willing to spend spend spend, like PSG

 

[Bebeto]

Every potential buyer is now going to be saying there are no buyers and the club is unsellable. The negativity and drum beating around administration will be ramped up. Buyers will have their own agendas.

Not if the club end up relegated...yes it's cheaper to buy a club in administration, but a 9 point penalty this season means relegation. A lot more competition for places this year vs last.

 

[Exeter_Gently]

Isn't the R&M loan around £40m a year in interest alone?

Edit: the original R&M loan, not the supposed R&M/777 hybrid loan. SMH, why are we such a basket case?!

 

[Frenk]

Well the Esk says the Friedkin group told him the 777 money issue is unresolvable. I guess that’s it then might as well fold, close up shop and sell BMD to our horrible neighbours.

 

[windymiller]

View attachment 265565

Yup. An absolute monster.

 

[Toffeeslam]

According to a terrible paper that rhymes with the Bun, Moshiri is demanding a lump sum plus a decade of future annual payments as part of the sale. If true, he seems to be complicating the sale and making people walk away.

I thought it was the 777 issue that’s causing people to walk away ?

 

[matty1878]

I thought it was the 777 issue that’s causing people to walk away ?

ye?

 

[Moderatelywarmwater]

Well the Esk says the Friedkin group told him the 777 money issue is unresolvable. I guess that’s it then might as well fold, close up shop and sell BMD to our horrible neighbours. View attachment 265566

Unresolvable UNTIL the Leadenhall case is closed (although other law suits may follow that).

 

[Toffeeslam]

Unresolvable UNTIL the Leadenhall case is closed (although other law suits may follow that).

So the club is in limbo until this is resolved in the US courts which could take years…..

What a mess which could kill the club, there must be a way around this rather than holding the club hostage