The Friedkin Group reaches agreement to buy Everton

[Damo_1878]

Citizen of Suburbia seems to be reading it similar mate!

He's wrong

He also has no clue about legal matters.

This is ALL TFG (and ACAP) nothing at all whatsoever to do with Moshiri

 

[pfim]

It was agreed between Acap and TFG, states it in the article.

Under pressure from insurance regulators in Utah and South Carolina, A-CAP appears to be liquidating every investment it can from the 777 Partners empire in order to keep its own wolves at the door. Its expected return on the loans it made to Everton, which were worth just over 200 million pounds, amounts to just 66 million pounds in cash plus preferred equity. This equity cannot be converted for seven years and pays a small annual dividend at compounding interest. Also included in the deal are warrants allowing it to take a stake of up to ten percent of the club. This is the deal agreed with the Friedkin Group, which hopes to do what 777 Partners failed, and complete a takeover of the Premier League club.

 

[AndyRJ]

Citizen of Suburbia seems to be reading it similar mate!

Says in the article that the deal was agreed with TFG.

Not sure why anyone would think that 777 would give Moshiri £200m in return for that deal, particularly when they were in the process of buying ALL of his shareholding at the time.

 

[Blue peter]

Yeah it's fair to say he's slowed the process right down.

Let not make out he's was doing to for Everton's sake.

Who’s making that out that he’s done it for our sake? He’s not interested in Everton but as people have said if one club fails, it tarnishes the brand globally so the PL as a regulatory body had to act diligently. It just happened to be us.

 

[Damo_1878]

Says in the article that the deal was agreed with TFG.

Not sure why anyone would think that 777 would give Moshiri £200m in return for that deal, particularly when they were in the process of buying ALL of his shareholding at the time.

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I am afraid @Neiler that Citizen of Suburbia fella is leading people up the garden path

Why would Moshiri (seller) be negotiating on a deal - post acquisition by TFG (buyer)?

Why would Moshiri be negotiating terms when he won't be the owner and why on earth would TFG let him negotiate on their behalf?

CitizenSuburbia is also factually wrong as Steve who has literally written books on the Moshiri ownership of Everton demonstrates





777 Partners also don't really exist any more

All the negotiating has been done by TFG with ACAP.

 

[Blue peter]

He's wrong

He also has no clue about legal matters.

This is ALL TFG (and ACAP) nothing at all whatsoever to do with Moshiri

Quick question from me…what standing would TFG have legally to strike this deal with A-Cap. They are not yet owners of Everton so it would presumably be pointless for A-Cap to agree a deal with a would be suitor for Everton when the deal may fall through. TFG may have unofficially sanctioned the deal for Moshiri to negotiate, but surely the negotiation was with officials / executives from the club, not potential owners?

 

[Runub]

Page 666. The Devils work

 

[Jimishorts]

im not football math guy

"

 

[Damo_1878]

Quick question from me…what standing would TFG have legally to strike this deal with A-Cap. They are not yet owners of Everton so it would presumably be pointless for A-Cap to agree a deal with a would be suitor for Everton when the deal may fall through. TFG may have unofficially sanctioned the deal for Moshiri to negotiate, but surely the negotiation was with officials / executives from the club, not potential owners?

Potential owners of Everton = their standing

Note what Aliya Capital (and Textor) called Moshiri.

A "distressed seller"

This is the crux of what I'm saying to @Neiler. None of this happens in this TFG-ACAP deal until the acquisition occurs. It's a deal that is agreed for what happens post- acquisition

It is probably a condition of Premier League approval also that TFG restructure the R&MF and ACAP loans (777 Partners is being wound up)

 

[AndyRJ]

I am afraid @Neiler that Citizen of Suburbia fella is leading people up the garden path

Why would Moshiri (seller) be negotiating on a deal - post acquisition by TFG (buyer)?

Why would Moshiri be negotiating terms when he won't be the owner and why on earth would TFG let him negotiate on their behalf?

CitizenSuburbia is also factually wrong as Steve who has literally written books on the Moshiri ownership of Everton demonstrates

That Citizens of Suburbia is talking out of his backside. No idea why he is giving any credit to Moshiri.

777 were contractually obliged to provide the funding and Moshiri pulled the plug because they couldn't complete due to being unable to meet the Premier League's requirements.

Requirements I might add which shouldn't have come as a surprise to anyone due to the known restrictions on leveraged buy outs. Ultimately 777 were trying to buy the club on the drip from Moshiri, with hardly any equity involved, with the sole purpose of using the stadium to prop up the rest of their empire.

 

[goldfinchmule]

im not football math guy

but i thought TFG came back as they didn’t want textor to own something they could?

Fancy a game of conkers matty,we are out of our depth in this thread.

 

[Damo_1878]

That Citizens of Suburbia is talking out of his backside. No idea why he is giving any credit to Moshiri.

777 were contractually obliged to provide the funding and Moshiri pulled the plug because they couldn't complete due to being unable to meet the Premier League's requirements.

Requirements I might add which shouldn't have come as a surprise to anyone due to the known restrictions on leveraged buy outs. Ultimately 777 were trying to buy the club on the drip from Moshiri, with hardly any equity involved, with the sole purpose of using the stadium to prop up the rest of their empire.

Totally agree 100% with your post @AndyRJ

My final post for the night to let the thread "breath".

Today is actually a good day for Everton FC. It's showing that there is a plan from TFG for the future. Something we've not seen for what THREE YEARS now?

I'm happy with what I've heard today.

 

[Blue peter]

Potential owners of Everton = their standing

Note what Aliya Capital (and Textor) called Moshiri.

A "distressed seller"

This is the crux of what I'm saying to @Neiler. None of this happens in this TFG-ACAP deal until the acquisition occurs. It's a deal that is agreed for what happens post- acquisition

It is probably a condition of Premier League approval also that TFG restructure the R&MF and ACAP loans (777 Partners is being wound up)

Thanks

 

[MikeH72]

Yeah it's fair to say he's slowed the process right down.

Let not make out he's was doing to for Everton's sake.

These crooks would’ve been our owners last December if he had his way.

 

[Damo_1878]

That Citizens of Suburbia is talking out of his backside. No idea why he is giving any credit to Moshiri.

777 were contractually obliged to provide the funding and Moshiri pulled the plug because they couldn't complete due to being unable to meet the Premier League's requirements.

Requirements I might add which shouldn't have come as a surprise to anyone due to the known restrictions on leveraged buy outs. Ultimately 777 were trying to buy the club on the drip from Moshiri, with hardly any equity involved, with the sole purpose of using the stadium to prop up the rest of their empire.

Confirmed by Paul Brown and Steve Dickinson @Neiler @AndyRJ