19 Jul 2024 11:17:37
Alan Myers claims Friedkin has pulled out of buying us? Any ed's got news of this?
{Ed002's Note - From a takeover standpoint another option will need to be considered as Friedkin has finally stepped back. The issue surrounds two lots of debt - the debt to 777 partners which is being chased down by A Cap who leant them the money, and the debt owed to the Moshiri for loans.}
1.) 19 Jul 2024
19 Jul 2024 12:36:10
I’m assuming the money owed to 777 will be the biggest problem as it can’t just be paid back to them with all the legal issues currently around them.
Would imagine we need the legal issues with 777 sorted prior to any prospective owner coming on board - however from the little I’ve seen of the 777 issue don’t think this will be resolved any time soon.
There has been mention there is enough money for the club to operate in the short term, however not sure how long a period that will be?
Ed with your knowledge what do you think will happen now? Is a fire sale on the cards to generate revenue to keep club afloat? Is administration on the cards? Or is the club stable enough to ride this mess out? Sorry for the numerous questions.
{Ed002's Note - There are legal issues, but not just related to the 777 Partners financing which is now being chased down by A Cap. The total size of the debt is huge and it somehow needs to be restructured - it is certainly larger than the value of the club.
I think the option involving MSP, Andy Bell and George Downing was the best as I said before. Friedkin cleared the MSP debt and they are now looking at investment in another club. At this point in time Rights and Media Funding need to be spoken to as their debt is secured against assets including Goodison. One option could be to look for a buyer for the new stadium who have the funding to complete it and allowing Everton to lease it back. Administration remains a huge risk still.}
2.) 19 Jul 2024
19 Jul 2024 12:50:09
Thanks for the reply Ed.
Bill Kenwright and Moshiri have a lot to answer for with this complete mess that’s been created under their stewardship.
Oh for just one normal month as an Everton fan.
3.) 19 Jul 2024
19 Jul 2024 13:35:48
So where do we go from here?
Can anyone save us from administration?
{Ed002's Note - It is rather back to square one again.}
4.) 19 Jul 2024
19 Jul 2024 14:23:08
It's like Groundhog day being a blue. no chance they will comeback in I gather then?
{Ed002's Note - I would doubt it. The problem will be finding someone willing to take on the huge debt.}
5.) 19 Jul 2024
19 Jul 2024 14:35:07
Is the going-concern value of Everton as a company higher than the liquidation value? If so surely we won’t go into administration? Surely the intangible assets and customer loyalty as well as any potential for future returns (stadium) must ensure this? Or am I well wide of the mark? Sorry Eds, I’m just very worried and very frustrated and a primary school teacher so I don’t know how the real world actually works!
{Ed002's Note - Entering Administration would give the owners time to restructure the debts whilst the club continues to operate. Everton will want to avoid it as it comes with a nine point deduction.}
6.) 19 Jul 2024
19 Jul 2024 14:47:21
Apparently according to the echo two English billionaires from the are now in the frame ?♂️.
7.) 19 Jul 2024
19 Jul 2024 15:01:48
Mosh really knows how to pick em ay?
What an absolute shower they all are.
8.) 19 Jul 2024
19 Jul 2024 18:37:35
Complete shambles.
9.) 20 Jul 2024
19 Jul 2024 19:31:20
Shame the MSP group have moved on. I’d take anyone who can sort us out at the moment. Would even contemplate Saudi Owners though I feel awful saying it. After everything we have endured under Moshiri, I just want him gone and the club back to competing in the Prem, not holding on each season.
10.) 20 Jul 2024
20 Jul 2024 09:31:16
I doubt administration will happen as there are too many people with money involved in the club. A cap, r&m, Moshiri and now Friedkin, none of these are going to want to lose their money.
Moshiri will no doubt get a buyer just not the deal at what he wants.
On Friedkin, I've heard he done the same thing at Roma, brought in other investors and then bought the club. This could happen with us and reduce his risk as well.
11.) 20 Jul 2024
20 Jul 2024 12:47:05
Let's hope Bell and Downing can swoop in and save the day.
{Ed025's Note - lets hope so Charlie, but im not ruling out Friedkin yet because its all a game when it comes to this sort of business mate..
12.) 20 Jul 2024
20 Jul 2024 13:56:01
Yeah, I heard he dud the same at Roma Ed. Either way wish they'd bloody hurry up ?.
13.) 21 Jul 2024
20 Jul 2024 22:00:44
Ed02, you may know this. If we have a preferred bidder but he wants to allow someone else to join the bid would the exclusivity agreement have end to allow the new party to join the bid and look over the goods?
{Ed002's Note - No. That would be welcome to the seller.}
14.) 21 Jul 2024
21 Jul 2024 11:54:07
Thanks Ed.