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The Friedkin Group reaches agreement to buy Everton

What do we reckon?

  • 👍

    Votes: 788 72.2%

  • 🤷 | 🧀🥪

    Votes: 264 24.2%

  • 👎

    Votes: 40 3.7%
  • Total voters
    1,092
Or Moshiri pays the indemnity insurance on it (ACAP loan) but that commits Friedkin to paying the whole 200 mill when maybe he thinks he could get it for less? It’s a f **** img mess isn’t it
 
Blue_Berry said:
Ffs mate blue Bill was dead and buried way before we took the £200m from 777. He may have dabbled in a lot of dodgy deals before he passed but you can't lay that one on him!

The question from EFC's perspective on the £200m loan is whether it was secured against anything - like BMD for example. I don't think it was but others will know better than me. If we did secure that loan with an asset, then there's a chance we could be implicated in the Leadenhall case (ie. 777 or ACAP could have releverage that security). Hopefully not though.
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The 777 loan wasn't secured again the stadium for sure, if it's secured against anything else I'm unaware though. (Obviously you can secure it again things like season ticket sakes, future TV revenue etc) but as I i said, only know the stadium wasn't used.
 
malcson said:
If the money is not the issue, maybe Moshiri could pay off the A-Cap loan and take on any fall out/liability down the line (which he should as he engineered the situation). Then add that cost onto the purchase price, so he gets the £200 million back but the new owners have no association or relationship with A-Cap?
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Money is the issue. It's the central, most important issue. Friedken (and all the others) don't believe the club is worth the sum of all the debt plus what Moshiri is asking for. Moshiri would be putting in $200 million to only get a fraction of that back, everyone wants ACap to take less than owed.
 
bluestevon said:
Yeah with Roma it was over COVID in friedkins opinion reducing the value, think he paid 300m less ultimately
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Could be the same thing with us... only substitute COVID with dodgy loans. We are definately worth less to a buyer with all the mess we have hidden in Moshiri's "data room"!
 

It does sound like it was a commercially sensible move by Friedkin to walk away. I think the faster the Leadenhall case can be resolved the better for the club, and Friedkin could come back in. Problem is complex financial cases can go on for years - hopefully A-Cap and 777 don't have the funds to cover a drawn out legal battle.
 
Evertonthat said:
Could be the same thing with us... only substitute COVID with dodgy loans. We are definately worth less to a buyer with all the mess we have hidden in Moshiri's "data room"!
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Exactly, and ultimately if he gets control for a few hundred million less, and at the expense of Moshiri, 777 etc rather than the genuine lenders like Bell, MSP then I'm supporting that choice. It's noticeable that he paid off the ones which were the loans with no dodgy element surrounding them.
 
malcson said:
It does sound like it was a commercially sensible move by Friedkin to walk away. I think the faster the Leadenhall case can be resolved the better for the club, and Friedkin could come back in. Problem is complex financial cases can go on for years - hopefully A-Cap and 777 don't have the funds to cover a drawn out legal battle.
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There's also a real possibility that ACAP have a lot more skeletons in the closet too.
 
malcson said:
It does sound like it was a commercially sensible move by Friedkin to walk away. I think the faster the Leadenhall case can be resolved the better for the club, and Friedkin could come back in. Problem is complex financial cases can go on for years - hopefully A-Cap and 777 don't have the funds to cover a drawn out legal battle.
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This could be our salvation. Leadenhall, as investment fund managers, will want this resolved to their favour as quickly as possible too where they act on behalf of their underlying clients. In addition, the publicity on them wont be welcome. The long arm of the US lawmakers will equally be adding to the heavy costs A-CAP will be suffering where, presumably, their own underlying clients are fleeing at pace given the publicity 777 has brought to their own door.

So best outcome is A-CAP and Leadenhall agree to negotiate with future buyers of Everton on their legacy 777 loan as well as whoever buys the rest of the stable of clubs 777 did end up acquiring. The more legal costs accumulating on the part of A-CAP at present, the better then.
 

bluestevon said:
Exactly, and ultimately if he gets control for a few hundred million less, and at the expense of Moshiri, 777 etc rather than the genuine lenders like Bell, MSP then I'm supporting that choice. It's noticeable that he paid off the ones which were the loans with no dodgy element surrounding them.
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Those were the ones that were due, though. I don't think there's any altruism behind their actions.
 
malcson said:
It does sound like it was a commercially sensible move by Friedkin to walk away. I think the faster the Leadenhall case can be resolved the better for the club, and Friedkin could come back in. Problem is complex financial cases can go on for years - hopefully A-Cap and 777 don't have the funds to cover a drawn out legal battle.
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Could a different buyer take a different approach than TFG or will this be a constant roadblock for anyone looking at buying the club?
 

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