Who's your money on in the takeover 'battle'?

[Amokachi1995]

Obviously Moshiri will be after the best price but I would have thought after the 777 fiasco, there will be a greater emphasis on likelihood of the deal actually going through.

 

[Neiler]

 

[CielosGrises]

Obviously Moshiri will be after the best price but I would have thought after the 777 fiasco, there will be a greater emphasis on likelihood of the deal actually going through.

You'd think so - with some of the comments I've been reading today, it sounds like the MSP offer wasn't great and so 777 was just better for him up until the point it faltered.

But it also makes you think he was ok to take the 777 risk to get a bit more money - even if MSP were safer.

 

[Zatara]

Exactly.

Only Bell and Downing have briefed what the plan is.

The rest of the bidders seem to be getting out through leaks (probably at Everton) to firm up interest from others.

Everyone will have some kind of a plan for the debt. Bell and Downing conform they will INCREASE the overall debt, but they have a long term strategic lender.

Honestly, I'm happy with Bell/Downing, MSP or Manouklan and his sickness techbros.

All three are clearly smart operators. Hopefully we'll get some clarity in the week ahead.

Ive missed this. Where have they said anything?

 

[Amokachi1995]

You'd think so - with some of the comments I've been reading today, it sounds like the MSP offer wasn't great and so 777 was just better for him up until the point it faltered.

But it also makes you think he was ok to take the 777 risk to get a bit more money - even if MSP were safer.

Hopefully having been burnt once, May be more cautious this time.

 

[Davey_g08]

What gets me is that we have a list of billionaires desperate to buy our club, but Mosh was desperate to sell to the asset strippers who don't pay wages.

 

[Neiler]

Well, the point was in response to @BNJ1878 saying Bell and Downing had briefed their plan.

If they did, then at best, they briefed it poorly or it was an intentional over-egg.

The original reports;

View attachment 260184

View attachment 260185

... as for vote, you can change it as/when facts emerge.

I've already changed mine.

It’s not much different then saying there is Saudi Royal involved though either - both this and Dell being involved infer a lot without the specifics initially.

It’s a dirty PR game and I’d say Moshiri is involved as much as the two parties could be. He stands to gain the most by it to be honest.

 

[Bez2k2k]

I don’t see any questions at all. I see them trying to tell bidders who we are and why they should buy us. There’s no key questions in that letter such as;

What will you offer?
Will there be money for signings?
Where do you see the club in 5/10 years time?
Are we going to be loaded with debt?
Are you here for now or to sell us quickly to make a profit?

 

[Zatara]

Hi mate, I’m an M&A finance partner at a US law firm. I do actually know what I’m talking about although I obviously don’t know the specifics of these deal. Why would any bidder borrower money to buy an asset and then repay it on day 1? That would never happen because lenders always charge an arrangement fee of 2-3% of the amount borrowed which a borrower would never ever want to pay for debt borrower for such a short period, every debt package includes a non-call period, I.e. if you repay in the first or second year there will be a big repayment penalty. Also, just generally debt is much cheaper than equity so unless the investor has no interest in his return on investment they will all look to put a debt package in place eventually. An all equity bid only benefits Moshiri. Not Everton.

They wouldn't. But they could.

Tongue in cheek to this point;

There's no guarantees about an owners true motivation and they can do whatever they like once they own the club.

@Kevsleftpeg whoever buys the club needs (as 777 were told) to pay off MSP.

As its not 777 and if its an outsider then perhaps they need to pay off 777 and MSP combined.

Thats what I understand from the premier league and 777 reports.

So, i believe whoever comes in would simply use all cash (Manoukian possibly) or they would borrow from MSB (2 Evertonians possibly)....or they would pay off 777 & perhaps restructure R&M (MSP possibly).

Do you disagree?

Well
A. We know who we are dealing with
B. They will restructure the debt using funds from Dell family office.

That's more clarity and certainly than the other bids

We dont know anything.

Different 'sources' have mentioned

DELL backing
DFO backing
MSD refinancing

And ESK saying MSD: have sports management expertise + that its not a similar restructure / loan.

So- we know nothing as neither them nor others have spoken.

 

[Neiler]

I don’t see any questions at all. I see them trying to tell bidders who we are and why they should buy us. There’s no key questions in that letter such as;

What will you offer?
Will there be money for signings?
Where do you see the club in 5/10 years time?
Are we going to be loaded with debt?
Are you here for now or to sell us quickly to make a profit?

Bit pointless, seen to be doing and a charm offensive isn’t it. Poor overall, though they have been good of late.

I think they are due a follow meeting with Moshiri if my memory is right.

 

[Zatara]

What do you understand by "an all equity bid "?

If it is simply that they won't have to borrow the purchase price then who gets what of their "all equity bid "?

If Moshiri wants let's say £400 million plus the buyer has to fund the remaining stadium build and pay the debt off that's a terrible deal for Everton but a great deal for Moshiri

But how do you know the £400 million is to pay the debt off as opposed to being the amount that Moshiri wants for his shares?

Because if Moshiri wants 400 million for his shares that completely takes Bell and Downing out the running. The rumoured amount is 400 million for the debt and 25 million to Mosh

The all equity deal should include the debt.

Thats because while theyre buying from Moshiri theyre also buying from the other shareholders -- the company itself is currently worth nothing (a tip perhaps).

So they will be offering £400mil for 'everything back to zero'.

I may be mistaken on the details as its not my niche but @Kevsleftpeg can correct me.

If im right then it may be that hes banking on everyone taking haircuts on their loans.

 

[BNJ1878]

Ive missed this. Where have they said anything?

Bell and Downing?

The chucking around of Michael Dells name knowing the majority would jump to the wrong conclusions

That leak wouldn't have come from the Dell side.

 

[Neiler]

@Kevsleftpeg whoever buys the club needs (as 777 were told) to pay off MSP.

As its not 777 and if its an outsider then perhaps they need to pay off 777 and MSP combined.

Thats what I understand from the premier league and 777 reports.

So, i believe whoever comes in would simply use all cash (Manoukian possibly) or they would borrow from MSB (2 Evertonians possibly)....or they would pay off 777 & perhaps restructure R&M (MSP possibly).

Do you disagree?



We dont know anything.

Different 'sources' have mentioned

DELL backing
DFO backing
MSD refinancing

And ESK saying MSD: have sports management expertise + that its not a similar restructure / loan.

So- we know nothing as neither them nor others have spoken.

Makes sense actually, good point mate, paying off 777 & MSP and giving Moshiri his 40 mill.

Brings us to the Magic 400 mill number I mentioned earlier, 350 for Bell and Downing, as they have a 60 mill loan they can turn to equity.

That leaves R&M who are happy to sit there I’d imagine. Metro are being back year on year on a repayment plan, so not an issue.

You might have cracked the code here mate.

 

[degsy]

He's going to pick whomever gives him the most money

That's all his motivation will be

This
All week long, twice on Sundays - and its devil take the hindmost, aka EFC.

EDIT...and all we can do is hope that who ever it is has some sort of clue what they're doing

 

[jinkyali]

Not even the papers mate it was that Kaveh on Sky who said it.

Ah. Kaveh Sensationalise Solekhol