The Friedkin Group reaches agreement to buy Everton

[Julius Geezer]

Can anyone explain in layman’s terms for simpleton’s such as myself the finances on this deal , how do you swap debt for equity for example ?
Goes right over my head.

 

[pfim]

Can anyone explain in layman’s terms for simpleton’s such as myself the finances on this deal , how do you swap debt for equity for example ?
Goes right over my head.

Debt and equity are essentially both just claims on assets.

So if you have 200 million in debt, bring in 200 million of outside money to pay off that debt, you've turned debt into equity.

The house example again...if you owe 200k on a mortgage (debt) and then win at the horses, and pay off that mortgage, you've turned debt into equity.

 

[pfim]

I’d be one of his big critics - but I genuinely think Moshiri did us a solid here, I believe the Textor offer was better financially for him.

But TFG deal was better for the club. He went with the club.

We'd be owned by Acap right now if he had his way. This gives him the most certain outcome, I don't think Textor is in any position to close.

 

[PhilEFC]

We'd be owned by Acap right now if he had his way. This gives him the most certain outcome, I don't think Textor is in any position to close.

Are these lads paying all our debts off then?

 

[JP5]

Heard he's making the ticket 10 grand per game lads.

Unreal.

Sounds ace. Will keep out the riff raff.

 

[pfim]

Are these lads paying all our debts off then?

I haven't really followed. I would assume the 200 million in debt they have (which will grow) will turn into equity. Then they need to deal with 777 and RMF

 

[Exeter_Gently]

We'd be owned by Acap right now if he had his way. This gives him the most certain outcome, I don't think Textor is in any position to close.

Frightening

 

[Dixieslaces]

I haven't really followed. I would assume the 200 million in debt they have (which will grow) will turn into equity. Then they need to deal with 777 and RMF

777 assets been seized I believe and RMF will be settled by Friedkin group.

Essentially will be debt free, with any others re-financed at much more favourable rates.

 

[Marius57]

I haven't really followed. I would assume the 200 million in debt they have (which will grow) will turn into equity. Then they need to deal with 777 and RMF

You’d have thought some ITK would have some details about the deal by now. You’d hope they are paying them off, but always sceptical until thats confirmed.

But we really do need 777 and RMF being as far from the club as possible.

 

[Jebus_lives]

Are these lads paying all our debts off then?

I think we had:

160m to MSP
200m to 777 (ACAP)

We also had issues with working capital which Friedkin offered another 40m for..

So he gave 200m (MSP & working capital) and now has agreed to a deal on the ACAP (200m)

Seemingly Moshiri is taking a big hit on his investment.

 

[Vintage]

They appear insular , remote and uncommunicative, leaving supporters in the dark about their aims and intentions?

Aboslutely yes. They've released their first statement today on asroma.com after 4 years.

They do not understand how football works and make the wrong appointments for the wrong reasons.?

Their own understanding of the game is limited. They make good appointments, but it seems to me they treat football as if it were, let's say, cinema. They rely on headhunting agencies, choose people who lack experience in the country they're going to work in.

They are prone to confusing football with the glitz and glamour of showbiz ?

They are prone to putting up shows.



On the plus side they are good on the financial side?

Very good. It's their best skill.

Do they attend Roma games or generally stay away from them?

 

[Damo_1878]

I think we had:

160m to MSP
200m to 777 (ACAP)

We also had issues with working capital which Friedkin offered another 40m for..

So he gave 200m (MSP & working capital) and now has agreed to a deal on the ACAP (200m)

Seemingly Moshiri is taking a big hit on his investment.

Despite claims from the club including Colin Chong. The stadium was STILL not "fully financed". Up to yesterday!

That working capital discussed yesterday is to conclude it

Moshiri has capitulated as he simply was no longer willing to take responsibility for the clubs debt nor has the ability to complete the stadium

Getting R&MF paid off alone is going to be a boost for the club.

How we have been ran is an absolute disaster

Regardless of any claims from Colin Chong that this was all to a "plan". It wasn't. People in the club are misleading people saying it was

 

[Bryan+]

Can anyone explain in layman’s terms for simpleton’s such as myself the finances on this deal , how do you swap debt for equity for example ?
Goes right over my head.

Everton are basically running a discount for their onlyfans.

 

[tirion]

Davek has a point though. Have you been to the Etihad? Absolutely nothing around the stadium, no kiosks, food, scarves. Zero for the local community tryin to make a few quid. Not saying Friedkin’s model will be line that …we will see…

Davek has a point though. Have you been to the Etihad? Absolutely nothing around the stadium, no kiosks, food, scarves. Zero for the local community tryin to make a few quid. Not saying Friedkin’s model will be line that …we will see…

They have completely rejuvenated the whole of East Manchester, yes the stadium was there but they have expanded it comprise of the Etihad campus, true there’s not many pubs/independant outlets round there but there’s plenty within the Etihad footprint. Also the new co op arena doesn’t get built there without the Saudi input, TFG will absolutely be looking to get a foothold n further development on our waterfront, maybe not straight away but once the football/ business side of the club has stability.

 

[catcherintherye]

I haven't really followed. I would assume the 200 million in debt they have (which will grow) will turn into equity. Then they need to deal with 777 and RMF

Both of those debts will be gone.