The Friedkin Group reaches agreement to buy Everton

[pfim]

The one red flag when I look at Roma's financial reporting is that the debt continues to pile up. I assume this is because the Friedkins are providing some of the capital injection in the form of loans, rather than equity. There's no other reason for that much money to go in, yet have the debt increase.

They've retired the high interest debt they inherited, so interest costs are down, which is what we need right now. I can't say I like the prospect of owners taking any increase in revenue out of the club in the form of interest charges, but it beats paying 20% interest on huge debts.

It looks like about what one might expect from American ownership: turnaround artists who are here for the medium term, rather than the long haul. If they right the ship, I doubt any of us will begrudge what they take out along the way before selling on.

Yes, a few years of Toyota ownership will feel amazing after the last 8 years of Alfa Romeo.

 

[Wizard]

Top 4 here we come, then Roma qualify for the CL too? What then who chooses who plays in it? That would be new levels of Everton that.. we get banned from Europe because of Liverpool fans, we get removed from the CL with a fixed draw and a paid off ref, next up? Owner of 2 clubs picks the other one to play in CL...

Unlikely to be an issue anytime soon but if this were to happen it’s not up to the owner. Whichever club finished higher in their respective league gets the place and the other drops into the next competition (or out of Europe if it’s Conference League).

 

[Jokerdan]

Think we should adopt a new motto/slogan to go along with our new owners. May I suggest something like...'This means more'.

Has a certain grandiose feel to it.

Dons hard hat, cups ears and hits the deck

 

[Petit]

Is this still happening?

 

[RomanReigns]

make everton great again

MEGA

 

[Exeter_Gently]

Yes, I’m petty

Marvelous

 

[Sussex]

Well they a have a mess to sort out. In a few years when, or if, we revisit this page they have sorted the mess that Moshi had left behind they would have done well.

Know nothing of them but they got to be better than the last mob. Right???

 

[DanB90]

Ive got zero hopes ill just wait and see

Expecting to be dissappointed makes it abit easier

They should put this on the crest.

 

[davek]

The one red flag when I look at Roma's financial reporting is that the debt continues to pile up. I assume this is because the Friedkins are providing some of the capital injection in the form of loans, rather than equity. There's no other reason for that much money to go in, yet have the debt increase.

They've retired the high interest debt they inherited, so interest costs are down, which is what we need right now. I can't say I like the prospect of owners taking any increase in revenue out of the club in the form of interest charges, but it beats paying 20% interest on huge debts.

It looks like about what one might expect from American ownership: turnaround artists who are here for the medium term, rather than the long haul. If they right the ship, I doubt any of us will begrudge what they take out along the way before selling on.

That's hardly anything to recommend them though is it?

New owners who come in and take cash out the club to pay for their purchase of it.

Surely we can do better than that?

 

[Eggsyblueskin]

Have they announced a period of exclusivity yet ?
Or anything, officially?

 

[Sweeneytoad]

Probably the best possible ownership we could have wished for given the state of the club.

Pro's:

• Not a consortium
• Has invested heavily in Roma
• Has made Roma competitive in Europe: Europa League runners-up in 22-23 and semi-finalists in 23-24.
• He will have learned lots of lessons since taking over at Roma, we aren't his first rodeo (unlike other interested bidders)
• Serious businessman, with lots of successful businesses, will know a blagger working at the club when he sees one.
• Cash rich, both individually and business empire.

Con's:

Time will tell...


I for one, welcome our new American overlord.

 

[RAFUH]

Own thread boss ?

Usually the kiss of death.

Hoping I see a post from @Eggs on later pages

 

[pfim]

That's hardly anything to recommend them though is it?

New owners who come in and take cash out the club to pay for their purchase of it.

Surely we can do better than that?

Of course, all we need to do is suspend reality for a few years.

 

[Dymak]

They’re offering to pay off all of our debt in the process of the takeover, aren’t they? Without taking on any immediate new debt to do so? Leaving us near enough debt free and entering a new stadium?

Nobody else is offering anything close to that

They are by far the best offer on the table imo.

 

[MikeH72]

They’re not Moshiri or Moshiri’s little chums at 777 so therefore they get a thumbs up from me as of today.