The Friedkin Group reaches agreement to buy Everton

[malcson]

This Is just a thought and is based on no information whatsoever. Is it possible that Friedkin is intending to negotiate with one of the other interested parties and offer to convert his loan to the club into perhaps 25% equity and be a significant minority shareholder in the club after any sale? I believe that originally he only wanted to purchase part of the club.

It would certainly make us more attractive to the majority purchaser as they would have to pay neither the £200 million to the Friedkins, nor the interest. This would give them the wherewithal to buy out Moshiri and set aside money for 777/Acap/leadenhall or whoever we owe that £200 million to.

The problem with the 777/A-Cap £200 million loan is not the £200 million. I think if Friedkin could have just cleared it by paying £200 million he may well have done so. It’s the interest rates (reported as very high) and early repayment terms (also punitive) meaning it could cost (pure guess) £300-£400 million to service the debt including interest payments or pay it off early. That is what Friedkin wanted to renegotiate and was unable to do so due to legal proceedings.

 

[malcson]

I doubt we have a new owner this side of Christmas

777-A-Cap court case is likely to run until at least October, and nothing gets sorted until after that. Hopefully can have a new owner for Winter transfer window

 

[jamieni]

The problem with the 777/A-Cap £200 million loan is not the £200 million. I think if Friedkin could have just cleared it by paying £200 million he may well have done so. It’s the interest rates (reported as very high) and early repayment terms (also punitive) meaning it could cost (pure guess) £300-£400 million to service the debt including interest payments or pay it off early. That is what Friedkin wanted to renegotiate and was unable to do so due to legal proceedings.

Good god if that’s the case.

 

[brieverton]

777-A-Cap court case is likely to run until at least October, and nothing gets sorted until after that. Hopefully can have a new owner for Winter transfer window

I would say that's optimistic.

From an on-field viewpoint, this summer's transfer business is being done on the basis that the TFG takeover was not going to have been completed by the end of the window.

Obviously we want a takeover completed sooner rather than later but it doesn't shift the dial in any way as to how the squad will look at the end of August.

It's the inability to restructure debt and interest payments that are the real problem but as we know they are surely going to sell Branthwaite next summer.

It's just impossible to say when we will be under new ownership other than to hope it's sooner rather than later.

 

[Marc bolan]

777-A-Cap court case is likely to run until at least October, and nothing gets sorted until after that. Hopefully can have a new owner for Winter transfer window

Winter is coming

 

[skumar55]

John Textor selling he's Palace shares and spending he's money on another english club, not Everton !!!

 

[mahermi1]

John Textor selling he's Palace shares and spending he's money on another english club, not Everton !!!

Didn't he pull out of buying Everton saying words to the effect, Moshiri was messing him about, think the fans need to be targeting Moshiri, just to show him just how unpopular he is. Add pressure to stop pissing about and make him sell, this is his mess.

 

[brieverton]

Textors antics don't really endear him to me as a potential owner. His wealth doesn't seem significant enough either in the context of a multi-club model.

I'd like us to be bought as soon as possible, but I would also be sceptical of a buyer that would attempt to pay off the 777 debt in full. (in escrow) It is a lot of money, clearly Friedkin did not think it was worth it.

We are in a difficult bind.

 

[brieverton]

Didn't he pull out of buying Everton saying words to the effect, Moshiri was messing him about, think the fans need to be targeting Moshiri, just to show him just how unpopular he is. Add pressure to stop pissing about and make him sell, this is his mess.

That wasnt my understanding of it. He was quoted as saying he thought the club would have already been sold by the time he was in a position to firm up his interest.

 

[Simon Buttle]

Textors antics don't really endear him to me as a potential owner. His wealth doesn't seem significant enough either in the context of a multi-club model.

I'd like us to be bought as soon as possible, but I would also be sceptical of a buyer that would attempt to pay off the 777 debt in full. (in escrow) It is a lot of money, clearly Friedkin did not think it was worth it.

We are in a difficult bind.

He is a loose cannon imo, shoots his mouth off, in trouble in Brazil and now possibly with PSG.

 

[mahermi1]

That wasnt my understanding of it. He was quoted as saying he thought the club would have already been sold by the time he was in a position to firm up his interest.

That's what he said at first ..yes, later he said he said the bit about messing about.

 

[brieverton]

He is a loose cannon imo, shoots his mouth off, in trouble in Brazil and now possibly with PSG.

And that's the last thing we need. A guy like that is going to interfere in football matters too. I'd be surprised if that wasn't the case where he has majority ownership already.

 

[Ferguson1878]

Nearly 3 weeks since you walked out of our lives

 

[Infernus]

Nearly 3 weeks since you walked out of our lives

 

[ForeverBlue92]

Didn't he pull out of buying Everton saying words to the effect, Moshiri was messing him about, think the fans need to be targeting Moshiri, just to show him just how unpopular he is. Add pressure to stop pissing about and make him sell, this is his mess.

Outside of a man and his dog on social media platforms, I don't see or hear much anger towards Moshiri. Most of the fanbase can appreciate he has tried his best and that the Ukraine War has snookered the club.

Dont let the minority of bedwetters on social media hoodwink you my friend.