The Friedkin Group reaches agreement to buy Everton

[brieverton]

RossITK in the twitters saying it’s falling through imminently

He must have had an Everton fan for a missus that cheated on him. Seems to be actual hate there.

Still a guy in Glasgow/ St. Albans is party to the inner workings of deals for a group with turnover in the tens of billions.

 

[BrendanGOT]

He also said ACAP were buying the club in June.

Also said we wouldn't sign Lindstrøm

 

[Neiler]

The court hearing is at 8pm UK time.

Seems very doubtful that we would get a resolution then on an issue that has this degree of complexity.

Nothing I have read since last Monday's announcement indicates the takeover is materially subject to the approval of the New York court.

The joint statement referred to the FCC / FA / PL approval only.

Surely TFG were confident in the robustness of the agreements that are in place and in their own legal advice before going public with the announcement, particularly given their caution previously. I would imagine such advice does not come cheap but lawyers are not infallible either.

It's a little nervy to read anything that involves a court decision pending though.

It would be good to have some reassurance here on what the worst scenario is. Does an adverse judgement mean the potential payback is just higher whilst the takeover proceeds per the expected timeline?

I assume TFG have a plan B and Plan C for any increased liability at a later date if that happened.

I think if this was seen as a big issue mate, TFG wouldn't have signed a legal contract last week, im sure there is a get out in that - but the sentiment is there, i suspect this is prearranged through back channels.

 

[PITA]

I’m a finance lawyer (not an accountant but I believe the following is correct: If you borrower money an asset (cash) and a liability (the debt) is created on your balance sheet but it has no impact on your income/profit and loss statement. Similarly, when you repay a loan your assets are reduced (since you use cash) but your liabilities are also reduced (since you have repaid the loan), again this has no impact on your income/profit and loss statement. Payments of interest are accounted for as an expense and do figure as a deduction on your income/profit and loss statement and reduce taxable profits. Repayments of principal are balance sheet items and aren’t tax deductible.

I agree. Oddly @Damo_1878 liked your post. Go figure!

 

[Rooney_Tunes]

EVERTON THAT!!

LADS DID YOU HEAR THAt?!?!?!

So, 99.9% certain is not so certain anymore?

I hear Administration is imminent.

I'll pivot to supporting Arsenal.

 

[PITA]

Principal repayments are not deductible. Interest payments are.

Agree but oddly, again, @Damo_1878 liked your post. I'm very confused.

 

[pfim]

Agree but oddly, again, @Damo_1878 liked your post. I'm very confused.

Yeah, no idea. Don't really care to engage in the topic of conversation, just pointing this out as a matter of fact.

 

[Victus]

I can see this being one of the worst weeks of my life haha

 

[MikeH72]

I can see this being one of the worst weeks of my life haha

Haha wow this is something even for you.

 

[tommye]

I can see this being one of the worst weeks of my life haha

We've got til December to enjoy this. Cheers Damo.
GOT is crying

 

[Victus]

Haha wow this is something even for you.

This would just be the cherry on top, thats all.

 

[Exeter_Gently]

I can see this being one of the worst weeks of my life haha

Why mate?

 

[Liam-EFC]

 

[Goat]

Just calm down and focus on the footy lads.

What will be, will be.

 

[Curtis]

Just calm down and focus on the footy lads.

What will be, will be.

Is everyone getting flustured because of an esk post along with another person who chats nonsense? I havent seen any legitimate stories about the deal imploding