Curious about the reported 400 mill investment, what’s the plans for that…..
Seems unlikely to me they are taking over the club without either some debt restructuring, agreement with creditors or a new plan to manage the debt - whole making that investment if it’s not going to manage the debt - doesn’t make sense.
Maybe part of it is..,but the detail is important here.
Take the MSP loan, prob the most immediate being 160 mill, 90 mill to finish the stadium, that’s 250 mill, before you blink.
Something doesn’t add up for me here.
Finally a sensible post.
Well, it's their bid?
An all-equity bid. A bid the smart arses all told us wouldn't happen.
Compared to;
[Andy Bell and George Downing] bid, which was lodged last week, is a mix of fresh equity and a £350million loan secured on the club’s new stadium that would refinance Everton’s existing debts.
That loan would be provided by the merchant bank BDT & MSD Partners, which was originally set up to invest American IT billionaire Michael Dell’s wealth.
Contrary to some reports, Dell himself has no desire in buying Everton, or any other English football club, as it would be a clear conflict of interest with his investment firm’s lucrative lending business. MSD has lent money to Burnley, Derby, Southampton, Swansea, West Bromwich Albion and West Ham.
So while we don't know what the plans are for existing debt - the headline is Vatche Manoukian's bid wouldn't add even more debt on top. Debt which would have big interest rates going to Dell.