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

[Exeter_Gently]

Sheffield United are owned by a middle eastern royal so it doesn't mean much

He's proper grim him.

 

[pfim]

all i want is the debt gone and to start a fresh

with a footballing brain owning us

I want a unicorn.

 

[Charles Hawtrey]

I guess the saudi royal is the mankourian equivalent to dell its a link being pushed from their side to make it sound like a big thing when actually its a minor figure who makes no impact.

Should perhaps remember here that there are about 500 people in the Saudi 'Royal' family. In Ryadh they have their own airport right next to the one for 'everyone else'...

 

[Kevsleftpeg]

I work in financial markets. In some cases the buyer will simply buy the equity of the company and take on the existing debt.

Not all covenants mean that debt has to be repaid if there is a change in ownership. Particular debt that is further down the capital structure. It’s more likely that senior debt would need to be repaid. But even then it’s not in all cases.

Everton is a private company though not a plc.

I work in financial markets. In some cases the buyer will simply buy the equity of the company and take on the existing debt.

Not all covenants mean that debt has to be repaid if there is a change in ownership. Particular debt that is further down the capital structure. It’s more likely that senior debt would need to be repaid. But even then it’s not in all cases.

Everton is a private company though not a PLC. If the existing lenders agree then their debt can obviously remain in place but in actual fact any purchaser will want to repay the most junior debt first as that will be the most expensive debt.

 

[Kevsleftpeg]

….still not sure what criteria Moshiri will apply in selecting a buyer from a number of interested groups. I hear some say, ‘whoever pays him the most money’ but I presume there’s an asking price that all of the buyers are meeting.

I think they just ask for indicative bids and evidence that they have the capacity to fund their bid. They might whittle it down to a small number and then ask for final bids (i.e. a Dutch auction) before moving to exclusivity with their preferred bidder (which will be based on a combination of price and deliverability of the offer).

 

[Kevsleftpeg]

According to reports from 777’s takeover, they required repayment of securitised debt ie RMF and MSP.

It seems 777 is junior and unsecured.

But it still need to be a repaid if we are being sold unless they agree to release it. Debt can’t just disappear outside of a formal restructuring or insolvency process.

 

[ashwuk76]

I think they just ask for indicative bids and evidence that they have the capacity to fund their bid. They might whittle it down to a small number and then ask for final bids (i.e. a Dutch auction) before moving to exclusivity with their preferred bidder (which will be based on a combination of price and deliverability of the offer).

This sounds like a sensible business like approach. This is Everton. It will be thumb in the air and "you will do"

 

[Azza]

Manoukian making the noise.

That always bodes well doesn't it.

 

[Neiler]

 

[Neiler]

Correct mate....am sure the Gossip bit was 316.... Going back a bit there like ha

316, brilliant, bring me Ravenelli!

 

[Gareth Hill]

View attachment 260201

Everton: Consortium with Saudi royal makes £400m takeover bid

A consortium of international investors, which involves a member of the Saudi royal family, has made a £400m offer to buy Premier League club Everton.

www.bbc.co.uk

Saudi royal family worth 1.4 Trillion
Im in

 

[DanEFC92]

Hate this willy teasing nonsense.

 

[Neiler]

Hate this willy teasing nonsense.

Will let all Willy teasers know mate!

 

[toffee66]

Is the same rationale as people who believe anything Joe Biden and his backers say? Just curious.

Maybe he coukd sell 1 of his public soilings as a cure for COVID.

When Biden starts trying to con his ordinary supporters into paying his legal fees and fines, having previously misappropriated charity funds for personal use and racked up a decades long history of shafting small suppliers, forcing many into bankruptcy (and some to suicide) then you might start to have a point. I have very little else positive to say about Biden but he is not Trump.

Thankfully, and back on topic, neither are linked to buying us for which I am very grateful. I worry that many of the bidders might most optimistically described as ‘speculative’ and ‘opportunistic’. I worry even more about being in Moshiri’s incapable hands. I have zero expectation that he will do what is best for us.

We might need a couple of the apparent bidders to collaborate to create a clearly superior consortium but there is not much chance of big egos collaborating. I would have thought MSP and Bell/Downing were best placed to do that but instead they are going head to head which they might see as being best for them but I doubt it is best for us.

 

[Grfirestorm]

Why is it that we signed an exclusivity clause with such a useless company for so long and now it’s over suddenly everyone is coming out the woodwork wanting to buy us. How did we not find these options previously?!

I assume some of it is seeing the stadium getting close to finished and also the fact that we might have a competent manager who can keep us in the league but still, the board again have a lot to answer for.