End of Moshiri - Friedkin, APPROVAL AGREED

[Gary1878]

Still clinging onto hopes that its just posturing from Friedkin to get Moshiri to reduce his price, but I doubt it.

It will all come down to price for any future owners. The Friedkin group clearly found something that would have cost them a lot more money than they were expecting at the outset, and Mosh didn't want to budge on the agreed price. Therefore, they backed out.

It's all very worrying.

[Lazarou II]

Still clinging onto hopes that its just posturing from Friedkin to get Moshiri to reduce his price, but I doubt it.

I don't think so myself, I don't know why there would be a joint statement if that was the case. You'd just say to Moshiri 'drop the price knobhead' in private.

[Dchans]

Gash

But, we had loads of groups interested and if nothing else this has put us on a more level financial footing in the short term

Someone will come in and buy us, don’t worry fellow blues

[fxceltic]

I suspect its more simple than some of the early speculation about "what they have found"

Almost certainly the loans to 777 are just debt, they were not shareholders and were only creditors to the club. The talk of risk due to legal issues seems misplaced, I dont see how 777 lending us money would make new owners liable to any other issues that now defunct business might have.

I would guess TFG saw an opportunity to renegotiate the debt given the distress of 777, but A-Cap are not willing to do so (to a decent enough level) now the debt is theirs. I would imagine TFG probably then asked Moshiri to take a haircut for the extra they anticipated getting and hes said no.

Ultimately it will progress closer to administration, before Moshiri and possibly A-Cap will negotiate further, and it will all hinge on a new buyer being prepared to pay what they want, or its a game of brinkmanship as we hurtle towards administration.

The latter is, fo course, possible.

[HANNU]

when i seen the last thread title i was going to post that we shouldn't celebrate anything till its done as Moshiri will fuck us somehow and it will fall through, but i thought no i wont post it as we have had so much shit that (1) id be raining on every ones parade and (2) i was just being pessimistic but no longer shall i refrain from my cataclysmic predictions

this is who we are its time we just embrace it, never again will i believe there is any hope with this football club, the end is nigh

[superpull]

One of the reasons 777 couldn't buy us is priority of existing debt.
TFG aren't buying us due to the 777 debt.

So are the next guys not buying us because of the above 3 tranches of debt whilst adding their own branch?

[fxceltic]

its worth remembering we dont have any more debt, really, than we had a few weeks ago, as money TFG loaned us repaid the MSP money (and a bit more or a stadium payment)

[fxceltic]

One of the reasons 777 couldn't buy us is priority of existing debt.
TFG aren't buying us due to the 777 debt.

So are the next guys not buying us because of the above 3 tranches of debt whilst adding their own branch?

it was MSP who couldnt buy the stake they wanted due to debt seniority with Rights and Media, 777 couldnt because they couldnt raise any money due to their other well publicised problems

Thats a policy MSP had, presumably contained within the nature of the fund they run, not a rule that everyone would have.

[MayorFarnham]

I was alwas sceptical that 777 would simply move aside after being the only thing between us an oblivion for months on end at considerable financial cost to themselves.

Looks like there is a real danger that the only people willing to take us on are shysters that wouldn't get near owning a PL club in normal circumstances.

This could take years yet. If we can last that long.

[Toddacelli]

Following a period of exclusivity, discussions between Blue Heaven Holdings and The Friedkin Group over a potential sale of a majority stake in Everton have ended and The Friedkin Group will not be progressing with a purchase of the Club.

Both Blue Heaven Holdings and The Friedkin Group entered discussions in good faith to explore whether a sale could be agreed. Those discussions have concluded. The parties agree it is in both their interests for Everton to explore alternative options.

The Friedkin Group will remain a lender to the Club and is proud to have played a key role in enabling the new stadium to be built, which will help ensure a bright future for both Everton and the City of Liverpool.

Blue Heaven Holdings maintains a positive relationship with The Friedkin Group and would like to thank them for the time and effort they have put into this process.

When there is further news to share, it will be provided via the Club’s official communication channels.

Are you Friedkin kidding me?

[Raptor]

Ultimately it was a business decision, they weren't buying Everton for their love of the club, it was about making money, and just because they have pulled out it doesn't mean that we're not a viable option for others.
There were other options and these groups may have a different approach and appetite for the challenge. It's clearly not the best news ever, but it's also not the end of the world.

[fxceltic]

I was alwas sceptical that 777 would simply move aside after being the only thing between us an oblivion for months on end at considerable financial cost to themselves.

Looks like there is a real danger that the only people willing to take us on are shysters that wouldn't get near owning a PL club in normal circumstances.

This could take years yet. If we can last that long.

its no longer 777, its A-Cap, they leant 777 the money in the first place

Its a game now, they want all their money back, but they cant push that so far the club goes into admin as they then get nothing, same with moshiri
The question is how long do they hold out, how long can they hold out, and how far does an interested buyer push it.

interested buyers wont really want to buy after administration as a preference, but they will. They will first push for the cheapest possible deal without administration

[777Kidnappings]

Mental that he's taking us into a brilliant new stadium and Moshiri will still go down as the worst owner in the history of the club.

That's kenwright for me

[HANNU]

That's kenwright for me

Peter Johnson was pretty bad

[Lazarou II]

Time to give Michael Knighton a call, he's pretty good at keepie ups too.