06 Sep 2024 18:33:30
Reading in the internet, Morshiri prepared to waiver £450M debt to sell his shares for £80M to £100M. If this is true, would this be a more attractive offer to rekindle previous interested parties. I know they would have to pay off loans but, would it be more affordable for them. Could ed002 perhaps throw light on this? Cheers.
{Ed002's Note - No, there is a misunderstanding. Moshiri owns more than 90% of the club and is owed £450M in addition. To sell he may hand back the loan - but there is still more than £600M owed to others.}
06 Sep 2024 19:36:17
£600m owed to people, it’s just unbelievable, the miss management is so extraordinary.
06 Sep 2024 21:39:27
How else would we build a state of the art stadium?
06 Sep 2024 21:42:40
I’d imagine it helps the cause for a new owner.
Everton’s value being around £500m, plus the other assets we have such as Goodison, training ground and new stadium.
Someone acquiring 90% shares for£500m, with loans of £600m. All of a sudden it doesn’t look too bad.
Restructure those loans, increase revenue from new stadium and in 3 years, we might be on the road to recovery.
I can’t imagine we will be healthy for a long while, but perhaps fresh out of rehab is a better analogy.
06 Sep 2024 23:16:40
Think we rent the training ground from the council and Goodison probably isn’t worth as much as we hope.
We’ll probably sell the new stadium to make ends meant.
Oh for someone with buckets of cash to ride to our aid and sort out the mess we are in. Anyone had a look down the side of the sofa and found a spare billion or two?
07 Sep 2024 17:46:12
Not New news it was reported during the 777 purchase.
Aside from the Rights and media debt the Friedkin loan replaced the MSP money and some to Moshiri and AB. 777s was towards the stadium and some operating capital.
Rights and media is an old loan used to buy players and keep the lights on.
£600million plus Moshiris bit for EFC and the new stadium isn't too bad a price some might say.
08 Sep 2024 13:06:23
Agree Smit. Any sensible investors will be looking at the potential income over time, not one season. The worry for supporters should be if someone comes in looking to make a quick profit, and looks to sell the club on.
{Ed002's Note - The thread is full of misinformation. Goodison cannot be sold by Everton as the Rights and Media Funding debt is secured against it.}
09 Sep 2024 14:49:40
yeah pretty much as Ed says
EFC owe £600m (minimum) in debt to a group collective of Media rights funding, 777 and now the Friedkin group
Farhad Moshiri himself loaned £450m total, but he is willing to write that off, probably as he knows he'd never sell the club for 1billion+
the 777 debt, is a sticking point for many due to the legal complications the group find it in now with a court date said to be heard, A-Cap/ 777 basically have that debt, but as Friedkin found out people don't want to touch that right now due to legality issues.
the Friedkin group essentially bought MSP's previous debt held over EFC, and helped EFC to complete funding payment of the stadium.
essentially EFC are in debt up to their eye balls, and that is what is putting most bidders completely off, as it's essentially valuing EFC as a £700m+ club, not only would they have to pay the £600m debts, it would be £80m on top of that to Moshiri and then they'd need to inject immediate funds themselves in to EFC as a proof
essentially it's a ridiculously high deal for investors for a club not competing at the level of others you could get for smaller costs needing MUCH less body work.
i'd be very surprised if Moshiri found a competent sale at these demands, and given the legality issues surrounding the debt owed to 777/ A-Cap, with that issue possibly not being resolved until next year. they'd need a consortium of billionaires essentially. there's also the question mark of the clubs stance in the PL throughout all of this, obviously.
Textor is very loud, and very much all mouth, which leads me to believe he is not a serious bidder, even before the Palace shares are resolved.
the biggest hope is Moshiri lowers demand further, allowing Friedkin group to come back, writing off their own debt in to equity and finding a way around the 777 issues.
it's a complete mess which offers very slim hope to a club living off player sales, with only one *big* player asset left to sell in Jarrad Branthwaite.