Is there any precedent for a club owner to "escrow" their equity and entrust the management of the club to a trustee board? I'm not talking about an administration scenario here. Probably not I'm guessing. There was the Chelsea situation where they were between owners, but then they could hardly do anything in the way of decision making if I recall.
Everything points to a protracted legal issue here that could take years to unravel. We face serious issues with debt interest and funding working capital. Our better players will be sold and if it isn't the financial noose that will strangle us eventually, it will be falling through the relegation trap door.
I read that the TFG loan matures in 12 months and 777/A-Cap in two years. I wasn't aware that the 777 monies were given to Everton through RMF.
I don't think the club can take two or more years of this really. If Moshiri now stands to get nothing at all, whats in this process for him? He can't /won't fund the club. People say he'll get nothing in administration but isn't he getting nothing anyway now surely?
Couldn't we at least have a board that would inspire some confidence and relative stability.
It just all adds up to a tightening noose in a lengthening limbo. Whom amongst our creditors will call in their debt? You couldn't see it happening.
I don't see TFG as being out of the picture completely. £200m is a huge commitment when they would have known the issues in advance, if not the full extent of them. So they are part of the equation now.
Both Inter and AC Milan were taken over by creditors eventually. In AC Milan's case, they (Elliott Group) appear to have done a more than competent job before selling on. Perhaps there is some level of negotiation ultimately on the haircut for A Cap that TFG would tolerate, particularly if others would join them in taking an equity stake.
