End of Moshiri - Friedkin, APPROVAL AGREED

[Free Agent]

Get in!!!

[Gary1878]

From The Guardian:

Friedkin’s first attempt to purchase Everton faltered owing to concerns over the £200m loaned to the club by 777 Partners, one of several companies which have tried to buy out Moshiri in the past 18 months. 777 Partners is involved in a legal dispute with Leadenhall Capital, the London-based asset management firm, in a New York district court.

Those concerns have been alleviated, however, after talks between Friedkin and A-Cap, 777’s principal backer. It is understood Friedkin has an agreement to pay off A-Cap. The company has also agreed a deal to repay some or all of the £225m loaned to Everton by Rights and Media Funding. That loan has an interest rate of 10.25%. Moshiri will be paid off as part of Friedkin’s takeover, although he stands to lose most of his investment in Everton.

Friedkin also loaned Everton £200m during its period of exclusivity with Moshiri, when due diligence was completed on the club’s accounts. That sum paid off £158m of loans from MSP Sports Capital, formerly another prospective buyer, and the local businessmen George Downing and Andy Bell, and enabled Everton to finalise funding for their new stadium. It has to be repaid in the event of a takeover by another party or can be converted into equity should the US company finally end Moshiri’s turbulent reign. Friedkin will loan the club more money to cover day-to-day operations while awaiting regulatory approval on its takeover.

[weimaranerblues]

All not well in the Roma camp , but business wise it needs to be done

[Lazarou II]

From The Guardian:

Friedkin’s first attempt to purchase Everton faltered owing to concerns over the £200m loaned to the club by 777 Partners, one of several companies which have tried to buy out Moshiri in the past 18 months. 777 Partners is involved in a legal dispute with Leadenhall Capital, the London-based asset management firm, in a New York district court.

Those concerns have been alleviated, however, after talks between Friedkin and A-Cap, 777’s principal backer. It is understood Friedkin has an agreement to pay off A-Cap. The company has also agreed a deal to repay some or all of the £225m loaned to Everton by Rights and Media Funding. That loan has an interest rate of 10.25%. Moshiri will be paid off as part of Friedkin’s takeover, although he stands to lose most of his investment in Everton.

Friedkin also loaned Everton £200m during its period of exclusivity with Moshiri, when due diligence was completed on the club’s accounts. That sum paid off £158m of loans from MSP Sports Capital, formerly another prospective buyer, and the local businessmen George Downing and Andy Bell, and enabled Everton to finalise funding for their new stadium. It has to be repaid in the event of a takeover by another party or can be converted into equity should the US company finally end Moshiri’s turbulent reign. Friedkin will loan the club more money to cover day-to-day operations while awaiting regulatory approval on its takeover.

Nice bonus for us Evertonians, the fraud gets taken to the cleaners.

[Toffee1]

Trying to remember were we also this exited when Moshiri bought us ?

There was the video of Everton fans at an away match (possibly West Ham) soon after Voldermort was announced singing "We're Fucking Rich" on repeat.

[Bluebridge]

Yeah, he was the billionaire Bill had always coveted

And there lay the problem, Moshiri might have been ok but for Bill.

[Kerryblueboy]

What a great day takeover and my youngest just got a mystery kit box containing a James Everton shirt and I didn’t even specify I wanted that

[Escalator]

As per Forbes, Moshiri worth $2.7 billion
Friedkin worth $7.6 billion, take tgat !

[eyesalwaysblue]

The only sympathy for Moshiri is he was led by donkeys, and the cronyism of cozy jobs for the under whelming continued, let us pray for a more professional/ruthless approach if this succeeds.

[Toddacelli]

And in typical Everton fashion all social media and the website have crashed.

Come on Gash mate, we’ve been over this.

We can’t have more than 8 of us on at once or it falls down. There’s a Google calendar where you can book 30min browsing slots. Do you need me to send you the link again?

[Gary1878]

The biggest thing is that he clears a lot of that debt we have hanging over us. It will be an absolute game changer for the club to have a new stadium with low leverage and low interest costs.

[Toddacelli]

Just when you think...

Bingo! Jackpot!!

Bingpot!

Nine-nine!

[Escalator]

So, shareholder loans (Moshiri) total £490 million, can’t see him getting much of that back ?


https://sportsjournal.io/premier-league ... a-2022-23/

[Toddacelli]

Get us a big fat fucking sponsorship deal Dan you sexy bastard!

[Blueomar]

Get us a big fat fucking sponsorship deal Dan you sexy bastard!

Toyota sounds about right!