[Football] Everton fc Sale

Weststander said:

If we sold out to a petro state with an awful human rights record, putting no debt on the club, I presume that the majority of Albion’s wider fanbase would soon get accustomed to it.

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El Presidente said:

It’s a nightmare. Such a mess that we were briefed about Friedkin pulling out 48 hours before the club found out.

Friedkin have put in £200m, which paid off a £160m loan to MSP and the rest was for working capital, so buys some time as loan not due for repayment until 2025.

The good news is that combination of loan, first instalment of PL 24/25 TV money, ST sales and player sales gives a bit of leeway.

Bad news is that lawyers are advising that anyone who buys Everton in the knowledge that money is owed to 777 Partners, could potentially be on the end of a Proceeds of Crime issue, and American based litigation is complex and expensive, so why take the risk.

Further problem is that Moshiri is skint, but appears to be a group of one who thinks his 94.1% shareholding in Everton is worth £50m. Friedkin believe the shares are worth £49,999,999 less than this. This is because whoever buys the club acquires £200m due to Rights and Media Funding (a mysterious company based in Cheshire with no employees but itself borrowing over £300m from the Bahamas. £200m is owed to 777, £200m due to Friedkin and about £40m to Andy Bell (not the one from Erasure). Moshiri has lent the club £450m but converted into shares.

There’s still work to be done to complete the stadium, which itself has ballooned in price from the initial £505m to something closer to £750-800m, despite the club initially claiming there was a fixed price contract for the construction.

Only glimmer of hope is that none of the lenders want administration, as lose the leverage they presently have with the club, so may continue to fund until a new owner is found. The interest rates on some of the loans are horrendous though.

Moshiri’s big pal Alisher Usmanov, who bought Moshiri’s shares in Arsenal and was involved in some creative sponsorship of Everton, is off the radar. He’s even more of a fanboy of Putin than Nigel Farage, and was banned from the UK six months BEFORE Putin invaded Ukraine.

Usmanov’s nephew was appointed to the board of Everton, before resigning for ‘personal and health reasons’ after being charged with GBH, although the charges were then dropped due to lack of evidence.

Everton’s wage bill is £13m a month. Goodison is not a big earner on match days. Generates £1m a game but a lot of that is from STH who have paid in advance. So the club is okay for a few months but after that either needs new owner or someone willing to lend more. Former is difficult due to 777 situation.

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Dave the hatosaurus said:

Thank you for this info, i find it absolutely astounding. What a mess!
I have a question as a result of reading all this. So Moshiri has lent the club £450m converted into shares but are these actually (or included in) the shares which he himself now believes to be worth £50m and did he borrow that £450m in the first place or has he lost all that himself?

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El Presidente said:

in theory it is his money that he was hoping to recoup £50m from sale of the club. His relationship with Usmanov is complicated though to put it mildly And no one knows exactly who is the ultimate benefactor

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Southern Scouse said:

I think I speak for most Reds that seeing EFC in this state is tragic. The opportunity of missing out on those 6 points most seasons would be sad indeed.

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tjg said:

If I was an Everton director, I would be on the phone to Chelsea finding out how they can sell their ground and their women’s team to themselves and raise some cash that way.

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tjg said:

If I was an Everton director, I would be on the phone to Chelsea finding out how they can sell their ground and their women’s team to themselves and raise some cash that way.

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deslynhamsmoustache1 said:

kalvin Phillips linked, at least he won’t want north of 80k a week.

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