catcherintherye
Player Valuation: £80m
It won't.
It won't.
Why do you think it won’t mate?
Don’t mean that as taking up a position to argue - just an honest question!
Damo_1878
Don't care. Not bothered.
It's not a "worry" it's about getting a good result for TFG which then is good for EFC. Noting that it's alleged Leadenhall were victims of a crime. It's not their fault they've had to bring this action
It's a timing and how much resource TFG have to give to resolve this issue. A hurdle.
One we should monitor
It's not something people should stress themselves on like you sometimes see on here. But it is something that needs sorting out. It could impact TFG investment plans in terms of how much capital they can initially put in. Or not. But they know that better than anyone
I'm not ignoring it because as I said to @billypatrick yesterday. I'm particularly interested in the business strategy Friedkin Group will employ at Everton
Damo_1878
Don't care. Not bothered.
We do know details of the deal. It wasn't a cash only repayment. It was part cash and partly involved converting a proportion to notes that could be converted to equity later by ACAP or "another"
So fell into a "fair value" dispute. That's my understanding without reading absolutely everything in detail. I've not read what the judge has said in the 58 page document.
catcherintherye
Player Valuation: £80m
I think the worst case scenario is priced in by TFG. Which would be, they have to pay it back, with a potential mixture of cash/equity stuff.
Leadenhall seem comfortable with the takeover. Why wouldn't they be, it's their best chance to get some/most back.
catcherintherye
Player Valuation: £80m
Id also add, there are advantages in turning some into equity, from a gap accounting standpoint too. Which is a bit of a quirk of how all this works. It's preferable to be constituted in such a way that it can sit on the balance sheet that way.
I’ve always suspected ACAP and TFG negotiated a hair cut. Whether that was reduced repayment or in structure of capital and equity or both - I really don’t know - what that part of the deal is - you lads seem more clued in on that than me.
So I’ll defer, to greater knowledge!
Won’t lie this has me on alert, but that may be my Everton P.T.S.D.
Next filing is next Thurs!
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Dublin blue 75
Player Valuation: £50m
The Leadenhall entity that leant the funding to 777 is an Irish domiciled investment fund and has monthly liquidity (if you are lucky enough to have the funding to meet the minimum subscription requirements). The 777 issue on that funds portfolio has been around for nearly a year at this stage so they will have marked it down given accounting policies they have to adhere to.
It’s a certainty that TFG have agreed a settlement value somewhere below par where the reported 200m loan will likely be settled by TFG for something below 200m but higher than whatever the current book value is that Leadenhall have written it down to. It’s been agreed between the stakeholders and we move on. Thank you very much to TFG.
Damo_1878
Don't care. Not bothered.
I’ve always suspected ACAP and TFG negotiated a hair cut. Whether that was in structure of capital and equity - I really don’t know, what that part of the deal is - you lads seem more clued on that in than me.
So I’ll defer.
Next filing un next Thurs!
I agree. Unpicking it all is almost a full time job, I've been busy myself today with my own stuff.
The Paul Brown thread was useful. I don't know what it is but instantly some people immediately think what he's posting is about "THE DEALS OFF" type of post. It clearly isn't and he didn't even remotely imply it.
It's a timing and resource thing for TFG/EFC. Why it's worth watching.
catcherintherye
Player Valuation: £80m
I suspect an agreement is in place either way, and TFG/Leadenhall are comfortable with it.
Damo_1878
Don't care. Not bothered.
It is still subject to the New York Southern District Court approval however because of the injunction that prohibits ACAP from making such deals.
Whilst TFG and ACAP may be "comfortable" with it, Leadenhall may not be as a they have to seek maximum reimbursement and/or compensation for their shareholders. It's the Court that will decide
Again, this isn't going to stop the TFG-EFC acquisition but it can impact short term resources that can be input into EFC by TFG. Plus take time.
catcherintherye
Player Valuation: £80m
I don't think it's going to have much impact short term on what can/can't be put in. They've stuck in another huge chunk of change.
Frankly, from a cash position the business is very well capitalised. There isn't a huge need for funding.
If there were TFG will do so, and have probably factored having to resolve the Leadenhall situation.
Frenk
Player Valuation: £35m
And obviously an alleged crime that Everton knew nothing about. So you would think it would be something that would not be allowed to damage us.
Damo_1878
Don't care. Not bothered.
I don't believe that we are "well capitalised" or we certainly were not without The Friedkin Group due to them having to provide "operational and stadium" funding ... which I won't repeat but was in the tens of millions.
You have some posters saying we need a "huge influx" of players. So capital is important and every penny matters.
We shouldn't be blasé about it
We shouldn't be blasé about money any time. Theres' been too much of that attitude at Everton Football Club over the past years.
It impacts EFC indirectly, because the loan was taken from the party that has allegedly committed a crime.
As the saying goes. "if you lie down with dogs, you get up with fleas"
catcherintherye
Player Valuation: £80m
I mean I didn't say were, I said are. We were reasonably well capitalised, we are now in a strong cash position, relatively speaking. Doubly so if RMF has been cleared.
There is money available to spend on January of we wish. That's before TFG having to put anymore in
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