The Friedkin Group reaches agreement to buy Everton

[micknick]

I suspect somebody else will move ahead of them.

Moshiri cant afford to wait and neither can Everton, we have bills to pay.

Small wager?

 

[Exeter_Gently]

Have a strong feeling that we end up being owned by Friedkin.

Ta Mick...am sure that will put the fanbases mind at ease.

 

[Yarrgh]

So…

We are owned by a crooked, sanctioned Russian Oligarch.

We are run by a crooked, incompetent Iranian accountant that couldn’t work an abacus.

We are in debt to a crooked, bankrupt American firm.

We are here because of one man that couldn’t let go of his train set.

https://starwarsintrogenerator.com/scroller?u=2caq6dt4

 

[kenada_blue]

Two things mate:

1/ surely Friedkin would have been well aware of the confusion over who the 777 debt is owed to before asking for an exclusivity period with Moshiri

2/ Friedkin: he might well be a level head who could provide good governance again. But for me it's a matter of the trajectory of his investment at Roma as providing a guide to their likely resources they could throw at Everton and also the model of ownership - being part of a number of clubs in his stable. He sounds like he'd be a serious businessman for Everton to have, but I genuinely doubt whether he's been after that.

Fairy sure that's why you enter exclusivity is to get everything broken down

And once they caught wind of the 777 "loan" bankrolled by one place and serviced through another...then a legal case...time to move on

 

[Goat]

Small wager?

Sure, something fun tho, cos money is meaningless on the internet.

 

[davek]

I think the pull-out is a negotiating tactic. He's pulled that trick before at Roma. Moshiri seems to want to have his cake and eat it, but that's not going to be a tenable position unless he has a queue of Arabs lining up to squander a billion - and he doesn't.

I suspect we'll end up in one of two places: under the control of the Friedkins or in administration - the latter because some other chancer will take us over and eventually lead us to that sad abode.

I dont think we'll go into administration at all.

These debts will roll over until the club finally gets a major investor. Obvioulsy at this moment in time it seems TFG were never that type of investor.

There are others. Many others.

Almost any PL club that can underline they're a permanent fixture in it will get serious consideration from hungry investors no matter their circumstances. The debt is often seen as Everton's drag on that interest...but the new stadium trumps it all.

Forget TFG - they weren't big enough for us.

 

[pfim]

I suspect somebody else will move ahead of them.

Moshiri cant afford to wait and neither can Everton, we have bills to pay.

The Friedken loan gives us 12 months, imo.

 

[D410]

Have a strong feeling that we end up being owned by Friedkin.

Sounds like you know more than letting on here.

I am fine with it. Just want it done.

 

[davek]

Fairy sure that's why you enter exclusivity is to get everything broken down

And once they caught wind of the 777 "loan" bankrolled by one place and serviced through another...then a legal case...time to move on

You go into it to get it all confirmed.

No way TFG has entered talks with Moshiri without holding all the cards first. Not a chance.

 

[micknick]

Sure, something fun tho, cos money is meaningless on the internet.

£7k?

 

[malcson]

So A-Cap are saying they gave the money to 777 who then gave it to us and 777 are saying no you didn't we stole it from somewhere else?

Not quite, A-Cap gave the money to 777 and 777 gave it to Everton. They secured the money from A-Cap against 'assets' they own, promising them first option to recover money against those 'assets'. At the same time they got money from Leadenhall and secured that money against the same 'assets' they had promised to A-Cap. Leadenhall discovered this and are now charging them with fraud because obviously they didn't tell them that the assets had already been promised to someone else.

Think of it like having a mortgage on your house (secured against the value of the house) then getting another mortgage from another lender (also secured against the value of the house). If there is any default on payments both lenders go after the value of the asset and they obviously can't both have it. So someone loses the money they have lent with no claim against the asset.

They could get away with it whilst everyone is receiving payments against their loan but as soon as they start to default or looking like they may default, people start looking at the value of the asset and in this case have found that it has been promised to multiple lenders.

It's essentially about who 'owns' the debt as they could take it over from 777 and continue to receive payments. A-Cap claim they own the debt and Leadenhall will claim it is them who own the debt. The 'debt' is essentially an asset as they get payment with interest on the debt or repayment of the debt (unless we go into administration which is not in the interest of any of the lenders as they then get a fraction of the debt value).

 

[mikel_88]

You go into it to get it all confirmed.

No way TFG has entered talks with Moshiri without holding all the cards first. Not a chance.

agree still think tfg will be using this time to out pressure on moshiri could work for or against him and depending what he put into the loan agreement with the club.

 

[Goat]

£7k?

I can just imagine explaining to the Wife why I had to send you 7k.

Its a no im afraid.

 

[micknick]

I can just imagine explaining to the Wife why I had to send you 7k.

Its a no im afraid.

She wouldnt mind if it was to me.

 

[Goat]

The Friedken loan gives us 12 months, imo.

And the Sky money drops soon also, which gives us a little leeway.