The Friedkin Group reaches agreement to buy Everton

[efcfanwirral]

Yep agreed, they been in the arse pockets of the more commercially generative clubs, but they applied the right level of diligence here and saved us from Moshiri and 777

Whatever anyone thinks of the Premier League and these theories of "targeting" Everton, one of their clubs going under while still in their division would be a nightmare for them, so they'll do what's needed to prevent that.

 

[Ferguson1878]

UK
777 Partners’ £200million in loans to Everton are worth just £66m in cash plus equity after the American firm’s collapse, according to Paul Brown.

Brown and Philippe Auclair reported in Josimar (7 October) that in the wake of 777’s complete collapse, major backer A-CAP appears to be liquidating the Miami-based investment group’s assets.

Bumped

 

[Damo_1878]

Bullets have definitely been dodged

Remember this?

https://www.bloomberg.com/news/arti...n-amid-premier-league-football-club-s- crisis

View attachment 276413

ACAP took out a loan at 46% interest a year from Luma



THANK CHRIST AND ALL THAT IS HOLY

That we seem to be seeing the back of all this

Sometimes a bit of patience and demanding "nothing but the best is good enough" and not just accepting "just give them a chance" but going for the best option actually works for Everton Football Club

Remember this @GrandOldTeam ?

Your instincts were spot on

I dread to think where we would be if 777 Partners or ACAP were involved or we had taken out a loan from GD Luma at 46% interest p.a.

Genuine death of the club has been avoided

 

[GrandOldTeam]

Remember this @GrandOldTeam ?

Your instincts were spot on

View attachment 276416

I dread to think where we would be if 777 Partners or ACAP were involved or we had taken out a loan from GD Luma at 46% interest p.a.

Genuine death of the club has been avoided

Only my own view/guess that though mate. Also suspect it was driven by 777/their PR partners.

The frightening thing is, in the future - rather than "influencer marketing" - they'll just pay agencies who pretend to be fan sites/have networks of fan sites to carry whatever message they want.

I'd hope anyone who fell for 777 shenanigans, would be more guarded in future.

Big believer in action>words, which is why I'm quietly confident on Friedkin based on their actions at Roma. No free pass though.

 

[pfim]

I will say that they will have done it for their own best interests to save the image of the brand rather than helping Everton FC though

Sure. But compare that to the party that let the vultures through the door.

 

[PeregrineT]

Unlucky that 777 lot

 

[Exeter_Gently]

I believe Baz from Biffy TV wore 777 jarmies for a little while.

He's was spotted in the Lobster pot getting wine and dined by Pasko and Wander.

No meal deal to expensive for Baz as long as he pushed the "there's is no other option other than 777" narrative.

 

[Rigsby]

I believe Baz from Biffy TV wore 777 jarmies for a little while.

 

[Exeter_Gently]

View attachment 276418

Ohhh look there's another one.

 

[Neiler]

Am I right in reading the docs this afternoon, that we borrowed £200 mill from 777, only have to repay £66 mill, while they (presumably ACAP) can get 10% equity in a few years time, via a meagere dividend until then!

 

[Exeter_Gently]

Am I right in reading the docs this afternoon, that we borrowed £200 mill from 777, only have to repay £66 mill, while they (presumably ACAP) can get 10% equity in a few years time, via a meagere dividend until then!

No wonder they went bust with a business plan like that.

 

[brieverton]

Am I right in reading the docs this afternoon, that we borrowed £200 mill from 777, only have to repay £66 mill, while they (presumably ACAP) can get 10% equity in a few years time, via a meagere dividend until then!

That's what I took from it too.

That's some settlement but would Leadenhall agree?

 

[Neiler]

No wonder they went bust with a business plan like that.

Stunning though!

If true we’ve knocked £134 mill of debt of our books.

They can have the 10% or flog it, just an expensive season ticket with no operational control. Maybe that also comes into the TFG settlement.

 

[Damo_1878]

Am I right in reading the docs this afternoon, that we borrowed £200 mill from 777, only have to repay £66 mill, while they (presumably ACAP) can get 10% equity in a few years time, via a meagere dividend until then!

Almost @Neiler it's £66 million plus notes to unspecified amount of shares in 2031 but which give a "small" annual dividend, but clearly < £200 million up front in real cash terms

plus warrants for 10% Shares at a certain date

So it's basically less cash up front, but with a potential pay out to either ACAP or Leadenhall if Friedkin Group are successful in raising share value between now and 2031

It seems TFG are intent on keeping capital in the business. ACAP may get a pay off if Friedkin Group/Everton are successful in next 7 years

 

[Neiler]

That's what I took from it too.

That's some settlement but would Leadenhall agree?

I think it’s the court they have to convince that it doesn’t prejudice the overall Leadenhall settlement mate- we’re just a small part of that!

Someone in ACAP thinks it’s their best return!