Goodison Glory Posted August 20 Report Share Posted August 20 2 hours ago, Palfy said: Does anyone know what the deal was surrounding the 200 million loan? You mean the Friedkin loan...the terms or are you looking for something else? The only bit of info I know/read is that the interest was 5pts above the base rate (so the same as the shitty Rights Media loans). Quote Link to comment Share on other sites More sharing options...
Palfy Posted August 20 Report Share Posted August 20 1 hour ago, Goodison Glory said: You mean the Friedkin loan...the terms or are you looking for something else? The only bit of info I know/read is that the interest was 5pts above the base rate (so the same as the shitty Rights Media loans). Thanks mate, quite rich on the interest rate but I suppose that’s the cost of borrowing for that sort of money if the recognised lenders aren’t willing to lend. Quote Link to comment Share on other sites More sharing options...
Matt Posted August 20 Report Share Posted August 20 3 hours ago, Goodison Glory said: You mean the Friedkin loan...the terms or are you looking for something else? The only bit of info I know/read is that the interest was 5pts above the base rate (so the same as the shitty Rights Media loans). Wasn't it still massively less than the loan it replaced though? Quote Link to comment Share on other sites More sharing options...
Goodison Glory Posted August 20 Report Share Posted August 20 1 hour ago, Matt said: Wasn't it still massively less than the loan it replaced though? I don't think so. I thought the Rights Media (Shitty offshore company) loans were the worst and the MSP (Everton Fans) loans were better. we've had so many loans from similar Companies, so I could be wrong. Friedkin had mosh over a barrel with next to no downside for him. Quote Link to comment Share on other sites More sharing options...
StevO Posted August 21 Report Share Posted August 21 Right and Media Funding have this bad reputation amongst fans, yet so many football clubs use them. They may be a bit cloak and dagger, but in the game they are a reputable lender. Friedkin’s loan has to be paid off by any new owner immediately. So I would think Friedkin expects the club to sell relatively quickly. Or he uses the loan to leverage a better deal for himself a little further down the line. Quote Link to comment Share on other sites More sharing options...
Romey 1878 Posted August 21 Report Share Posted August 21 2 hours ago, StevO said: Right and Media Funding have this bad reputation amongst fans, yet so many football clubs use them. They may be a bit cloak and dagger, but in the game they are a reputable lender. Do they have the right to block takeovers at every other club? Serious question. StevO 1 Quote Link to comment Share on other sites More sharing options...
duncanmckenzieismagic Posted August 21 Report Share Posted August 21 https://uk.sports.yahoo.com/news/john-textor-agreement-over-everton-124019972.html London Blue 1 Quote Link to comment Share on other sites More sharing options...
StevO Posted August 21 Report Share Posted August 21 6 hours ago, Romey 1878 said: Do they have the right to block takeovers at every other club? Serious question. I dont know. But its not as simple as them blocking it though is it? For us they have to be paid on the sale as Moshiri has guaranteed the money. Wouldn't surprise me if he agreed something stupid though, he has previous. We may find this happens again as Friedkin's loan has to be paid on sale as well. I wonder if he will block things too? Romey 1878 1 Quote Link to comment Share on other sites More sharing options...
Haiku Posted August 21 Report Share Posted August 21 I don't get it. What was a problem for the Friedkin group, a larger and wealthier group, that seems is not a problem for Textor? The 777 Partners loan? Everton is a sleeping giant with the most modern stadium in the country. I am disappointed that we are not drawing the interest of larger and wealthier entities. Quote Link to comment Share on other sites More sharing options...
RuffRob Posted August 21 Report Share Posted August 21 We have well and truly got to the point when we have the most complicated and messy take over ever. Tired of getting optomistic over an immenent new owner now. Going to try not to get engrossed in it all until some ink has dried. Sev 1 Quote Link to comment Share on other sites More sharing options...
Trigger Posted August 21 Report Share Posted August 21 The 777 loan is going to continue to be the biggest sticking point. Legally nobody knows the owner of the debt. Until that is legally resolved its impossible to pay the debt off. Romey 1878 and Matt 2 Quote Link to comment Share on other sites More sharing options...
Shukes Posted August 21 Report Share Posted August 21 I’m worried. Textor hasn’t the wealth to change much at our club. I think we should really be waiting for the right group/Person to come along. We didn’t continue dialog with Textor first time for a reason, don’t get desperate now. MikeO 1 Quote Link to comment Share on other sites More sharing options...
Goodison Glory Posted August 21 Report Share Posted August 21 Not my research, but taken from "The Esk". "Textor, owns his holdings in Crystal Palace through a structure which is partially funded by PIKs at 16.0% and 13.% to December 2028. Those funding vehicles are provided by Ares Capital. Ares Capital provided Boehly and Chelsea with $500m of fresh capital in September 2023. In addition Textor’s shareholding of Olympique Lyonnais was bought on credit – secured by (in part) – you’ve guessed it – his Crystal Palace Holdings. So we have a man purported to be able to meet Everton’s considerable cash and capital requirements, pay Moshiri, and fund future debt repayments, yet much of his existing portfolio is funded by expensive debt or the securitisation of existing holdings. Liquidity or access to fresh unleveraged capital must be a significant barrier to him acquiring Everton Even before we get to is there a buyer for a significant minority stake in Crystal Palace – a precursor to the Premier League giving a green light to the acquisition of another Premier League club." Quote Link to comment Share on other sites More sharing options...
Popular Post chicagoblue Posted August 21 Popular Post Report Share Posted August 21 2 hours ago, Haiku said: I don't get it. What was a problem for the Friedkin group, a larger and wealthier group, that seems is not a problem for Textor? The 777 Partners loan? Everton is a sleeping giant with the most modern stadium in the country. I am disappointed that we are not drawing the interest of larger and wealthier entities. Yeah, It's not that Friedkin couldn't handle that level of debt and Textor can, it's about risk tolerance. Friedkin determined 777's debts were legally complicated and back out. Textor may be more willing to deal with those headaches to get what he wants. Time will tell. Wall Writer, StevO, Romey 1878 and 2 others 5 Quote Link to comment Share on other sites More sharing options...
RuffRob Posted August 21 Report Share Posted August 21 2 hours ago, Shukes said: I’m worried. Textor hasn’t the wealth to change much at our club. I think we should really be waiting for the right group/Person to come along. We didn’t continue dialog with Textor first time for a reason, don’t get desperate now. It's Moshiri who is the seller, he just wants out ASAP. Not a lot we or the club can do on the sale front. It's not some much about wealth of owners these days - its about sensible running of a club. With the club then generating its own wealth by good management and commercial desision making. Quote Link to comment Share on other sites More sharing options...
c1982 Posted August 21 Report Share Posted August 21 Encouraging… Quote Link to comment Share on other sites More sharing options...
duncanmckenzieismagic Posted August 22 Report Share Posted August 22 https://www.telegraph.co.uk/football/2024/08/22/everton-takeover-sale-farhad-moshiri-sean-dyche-survival/ Quote Link to comment Share on other sites More sharing options...
Romey 1878 Posted August 22 Report Share Posted August 22 42 minutes ago, duncanmckenzieismagic said: https://www.telegraph.co.uk/football/2024/08/22/everton-takeover-sale-farhad-moshiri-sean-dyche-survival/ When it's stuff behind a paywall could you just copy the whole article and post it with the link? MikeO 1 Quote Link to comment Share on other sites More sharing options...
Wall Writer Posted August 22 Report Share Posted August 22 @Romey 1878 Everton’s current predicament is a tale of two football clubs. About the worst of times under majority shareholder Farhad Moshiri amid the hope of the best of times when the team moves into a £500m new docklands home in 2025. It is an age of foolishness via boardroom chaos, and an owner running the club so badly the team was deducted Premier League points on two occasions last season. Yet it is also an age of wisdom under manager Sean Dyche, organising the team so efficiently that the deduction of ten Premier League points did not prevent safety being secured with relative ease last season. Then, Dyche’s spring of hope was the antidote to Moshiri’s winter of despair. The extreme differences make Everton the most contradictory of institutions. Moshiri’s struggle to sell the club seems to persistently threaten a season of darkness, but others see his growing desperation as a step closer to the light because eventually he will be compelled to agree a realistic sale price. “Farhad must accept he will have to take a haircut,” is probably the most used phrase at Everton in the last few months, Moshiri understandably struggling to accept the inevitability of eventually walking away with personal losses of hundreds of millions. Whatever Moshiri’s next move, the apocalyptic visions regularly prophesied since Russian oligarch Alisher Usmanov was banned from continuing his investment have not materialised, despite brushes with relegation. Every failed takeover attempt brings more eruptions of fear — only for Everton’s Merseyside branch to go on the front foot to reassure us that the wounds are overhyped and temporary. This summer summed up the contrast between the image of Everton as teetering on the brink in Moshiri world, only for those in Liverpool dealing with the debris sending a reassuring business as usual message. In the immediate aftermath of the US-based Friedkin Group ending takeover negotiations, sources close to them were citing a debt level far exceeding initial assumptions, all while the club was signing a couple of players and vowing to hand highly-rated centre-back Jarrad Branthwaite a lucrative new deal to fend off interest from Manchester United. Hardly the response of a club frantically looking down the back of the sofa for stray pennies. For those who have seen Everton finding funds from prospective owners to run from month to month and have no access to the accounts, it does not add up, especially given the number of creditors contributing to the business and stadium costs who will eventually want some bang for their buck, and until the transfer window closes no one will bet against another high profile sale. Goodison Park empties towards the end of Everton's 3-0 opening weekend defeat to Brighton CREDIT: Getty Images/Carl Recine The honest assessment, one shared by many within Everton, is that only Moshiri knows how perilous the club’s financial situation truly is, and whether repayment deadlines need satisfying within months or years. All agree that Moshiri’s prolonged dalliance with 777 Partners last season has been exposed as horribly misguided. The working capital they provided while awaiting for a Premier League clearance which never came amounted to £200 million, a debt now absorbed by insurance firm A-Cap who are charging considerable interest and - based on the breakdown of the Friedkin talks - have no inclination to re-negotiate repayment terms. At least one other interested party which was considering bidding for Everton claimed to be spooked by Friedkin walking away. It suggests the ownership issue will not be resolved soon or without glacial-paced negotiations with multiple vested interests, despite Crystal Palace co-owner John Textor being the latest to be granted exclusive talks to complete a takeover and Moshiri giving the impression there is a queue of ready and willing buyers. At the training ground, they are accustomed to shrugging off the boardroom’s bad news. If Dyche ever pens an autobiography, it ought to be titled after one of his favourite sayings: “Control the controllables.” Dyche, alongside Everton’s sporting director Kevin Thelwell, has so far proven himself to be the ideal manager in a time of seemingly permanent crisis. He has an unerring capacity to make the situation appear calmer than the ceaseless stories about buy-outs and profit and sustainability issues suggest. If he is tired of being the club spokesman on non-footballing issues, it only manifests itself in the aftermath of another successful survival quest when he justifiably appeals for his work to be judged in the context of the unique challenges faced. It was not any easier in pre-season and last week’s defeat to Brighton and Hove Albion did nothing to undermine the fatalistic view this campaign will be anything more than rinse and repeat. Dyche and Thelwell forewarned as much last May. As predicted, was a significant sale when Amadou Onana moved to Aston Villa for £50 million, although the immediate reaction was more ‘ho-hum’ than consternation. Onana may prove a fine acquisition for Villa as his man-of-match debut last weekend suggested, but he was not a Goodison nor a Dyche favourite. It was greeted as good business more than a book-balancing exercise, even if it was both. More importantly, Dyche and Thelwell have so far been able to resist moves for players they really want to keep - Branthwaite chief among them. The loan market proved useful last season and Everton have been proactive again, retaining Jack Harrison from Leeds United and signing Napoli’s Jesper Lindstrom. How good the signings so far are remains to be seen. The mood darkens when the bad news off the pitch is mirrored by poor performances on it, which is bound to occasionally happen to a side which is built to punch above its weight by optimistically targeting mid-table. A clearer picture of what is realistic possible will emerge by the end of the transfer window. Those within Moshiri’s inner circle - and no-one working on Merseyside seems to be part of that - know if the financial situation is such to make further sales necessary. Do the Merseyside branch of the operation trust him? What choice do they have? The majority at the club are working on the assumption rumours of Everton’s impending financial demise have been greatly exaggerated, and whatever their private anxieties are, and they must have them, they are well-rehearsed in absorbing and dispatching that message with the efficiency of a Dyche set-piece routine. They also know their fire-fighting is far from over and it is Moshiri’s running of the club which has set the agenda for the past eight years, not ‘media scaremongering’ or some imagined Premier League vendetta. Until Moshiri sells, Everton’s multiple personality disorder will not be adequately treated. Matt, London Blue and Romey 1878 1 1 1 Quote Link to comment Share on other sites More sharing options...
Romey 1878 Posted August 22 Report Share Posted August 22 Cheers for that @Wall Writer! Wall Writer and Matt 2 Quote Link to comment Share on other sites More sharing options...
Romey 1878 Posted August 22 Report Share Posted August 22 duncanmckenzieismagic, StevO and dunlopp9987 3 Quote Link to comment Share on other sites More sharing options...
duncanmckenzieismagic Posted August 22 Report Share Posted August 22 21 minutes ago, Romey 1878 said: Sounds promising but I won’t be getting my hopes up just yet Matt 1 Quote Link to comment Share on other sites More sharing options...
Romey 1878 Posted August 22 Report Share Posted August 22 2 minutes ago, duncanmckenzieismagic said: Sounds promising but I won’t be getting my hopes up just yet Tbh, I don't have a good feeling about being owned by him but I don't think we're going to end up with a decent owner now, so I'm just hoping he's not too bad really. Matt and AnotherYank 2 Quote Link to comment Share on other sites More sharing options...
patto Posted August 22 Report Share Posted August 22 3 minutes ago, duncanmckenzieismagic said: Sounds promising but I won’t be getting my hopes up just yet According to the esk Textor will not be our new owner. Quote Link to comment Share on other sites More sharing options...
duncanmckenzieismagic Posted August 22 Report Share Posted August 22 51 minutes ago, patto said: According to the esk Textor will not be our new owner. The Esk doesn’t get a say in the matter! StevO and MikeO 1 1 Quote Link to comment Share on other sites More sharing options...
duncanmckenzieismagic Posted August 22 Report Share Posted August 22 https://www.liverpoolecho.co.uk/sport/football/football-news/everton-takeover-must-clear-friedkin-29793219 London Blue 1 Quote Link to comment Share on other sites More sharing options...
London Blue Posted August 22 Report Share Posted August 22 58 minutes ago, patto said: According to the esk Textor will not be our new owner. How would the Esk know? I don't know how good or bad Textor will be, but Palace have done well with him as co-owner, and let's face it, he will be better than the car crash that has been Moshiri (stadium excluded where the club has done an amazing job) StevO 1 Quote Link to comment Share on other sites More sharing options...
MikeO Posted August 22 Report Share Posted August 22 1 hour ago, London Blue said: How would the Esk know? patto told him. dunlopp9987 and StevO 2 Quote Link to comment Share on other sites More sharing options...
AnotherYank Posted August 22 Report Share Posted August 22 Things do seem to be going quite well at Palace, so the idea that he wants to have more control seems to imply he doesn't fully agree with how they're doing things. The statement from their Chairman kind of implied he wanted to do more dealings with his other clubs. As nicely worded as that statement was, it sounded like they'd be happy to see the back of him. I know I'm reading a lot into the little I've heard about him, but I don't have a great feeling about him as an owner. We'll see, I guess, if he does complete the sale. Quote Link to comment Share on other sites More sharing options...
duncanmckenzieismagic Posted August 22 Report Share Posted August 22 Quote Link to comment Share on other sites More sharing options...
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