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

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brieverton said:
Yes I guess so, but it's very frustrating. But it was as I've seen described, as a sliding doors moment.

The events of the past 24 hours to me point to a consortium of investors being the most viable option rather than any single group. So, something like Vici emerging again.

It was curious that there was talk of Bell and Downing being minority investors with TFG earlier in the week. It seems credible that it may have been discussed. TFG either don't want to do it at all now, don't want it under these conditions, or don't want it as the sole partner. They supposedly had previous interest in a minority stake. I can see why.

A group of investors with different profiles coming together, collectively assuming the risk. That seems to be the most viable path forward.
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I hope you are right mate.

TBH I don't know what to think at the moment, totally cheesed off with the whole thing.
 
Richard Alex said:
In the statement from the club it suggests both sides decided to move on.
It’s seems to me that it could be due to negotiations breaking down rather than just the 777 issue.
I wonder if Moshiri has moved the goalposts as he had previously been accused of?
I wonder if that will be end of them? I’m not so sure
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I just don't think Friedkins group want to be associated with this rotten 777 debt.
 
My money is (and always has been) on the Everton Lawyers.
With the perpetual revolution in selling the club, they must be raking it in.

At this point I think they are sabotaging buyers on purpose to maximise their future profits.
 
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brieverton said:
I've read a lot about the possibility of a buyer putting the monies owed to A-Cap or whoever in an escrow account to be left there for the final creditor to claim, whenever the legal issues are sorted. In tandem it's asked why a buyer would commit to putting the full amount owed away like that and not want a haircut. Whatever funds were put aside would earn tidy interest, surely that would mitigate any further uncertainty.

But that seems to be the only way forward. It's the possible reputational issues that come to be associated with assuming a debt that was loaned with stolen money or otherwise unethically acquired that seems to be more of an issue though. From a moral viewpoint who could have any argument with repaying money, short of whom it actually belongs to in the end?

Perhaps the two factors together just represented too much hassle for TFG.

Potentially though they may not be so problematic for some other group. But in the short term if another buyer came forward, doesn't it then look that they are ok with the strange circumstances here whereas TFG were not? That has to be considered.

Either way, aside from getting even 1p from a buyer, Moshiri should get sweet nothing and pay an investor to buy us out. He should also immediately resign as a director and ensure a full board is appointed. We can't continue to operate on an interim basis like this.

Kenwrights RMF lackeys have a lot to answer for here. If they hadn't blocked MSP we would have been under new ownership already and without this 777 mess.
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Would you even need to put funds aside at this point? Surely you just need to mentally account for the full repayment needing to met, subject to the hope you could negotiate a better deal. Plan for the worst, hope for the best. Maybe TFG were unwilling to accept the debt at full value but maybe others would.

Regarding the legal / moral angle of where the money lent to us came from, again surely the worst case scenario is simply repaying the money which we would have to do regardless?

Ultimately this is a squabble between the creditors of our creditors so as long as we are willing to pay back whomever the court decides needs to be paid back I don’t see the reputational damage angle. No reasonable person would blame a new owner of a company for the sins of its own past let alone the sins of its creditors.

I think this issue is a convenient thing to blame and may well be part of the reason TFG have split but it doesn’t seem to me it’s ultimately so complex a willing bidder couldn’t get past it.
 
NeilMorepies said:
As I have said before, Friedkins don’t see the point of giving 777 £200M, when they can let them go bust and save £150M+ by paying off the 777 debt on the cheap in a deal with the administrators
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Of course why would they?..thing is with exclusivity now being over other groups will re-enter the mix so I suppose they haven't got the luxury of waiting round to see what the outcome of the 777-Acap situation is, especially if another group is willing to find a way to circumvent the debt issue.
 
Exeter_Gently said:
Of course why would they?..thing is with exclusivity now being over other groups will re-enter the mix so I suppose they haven't got the luxury of waiting round to see what the outcome of the 777-Acap situation is, especially if another group is willing to find a way to circumvent the debt issue.
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I wouldn’t be surprised if it’s Moshiri that’s pulled the plug, he probably thinks if 777 win their legal case then they’ll get approval from the Premier League to buy us. Looking at his desperation to sell to them over the last year I wouldn’t be surprised if that was the case.
 

MikeH72 said:
I wouldn’t be surprised if it’s Moshiri that’s pulled the plug, he probably thinks if 777 win their legal case then they’ll get approval from the Premier League to buy us. Looking at his desperation to sell to them over the last year I wouldn’t be surprised if that was the case.
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777 doesn't really exist anymore though, Wander and Pasko have gone from it, even A-Cap are being chased for their own stuff.
 

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