New Everton Owners: The Friedkin Group

[pfim]

if you honestly think we have only forked out £200m for the stadium... then I can't help you. Aint no planet in the multi-verse can we build a brand new stadium for so little.

That's not what I said.

 

[ashwuk76]

That's not what I said.

the vast majority (if not pretty much all) is for the stadium build. It's not the amount of debt that bothers me, it's how we financed it. Uncle Uzzy was meant to be paying in the way of a shady sponsorship deal, we know how that went....

I fully expect a big chunk to be paid off with whatever sponsorship we deal we get, Mosh can whistle for his money,,,

 

[pfim]

Let me also add that it's almost totally unheard of for team owners in American sports to invest any of their own personal fortune into a team's operations. American sports teams are so profitable -- and there are so many financial safeguards in place to protect owners investments (revenue sharing, salary caps, drafts, lack of relegation, etc) -- that they don't need to. When the RS ran into difficulties finishing their stadium reservations, FSG stepped in not by investing their own money to finish the project, but by providing a loan that the club has to pay back. I fully expect TFG to act in the same manner.

That will somewhat change with the new PL rules regarding FMV of shareholder loan interest. At that point, it's more advantageous to go out and seek outside debt financing, if you can.

 

[ashwuk76]

That will somewhat change with the new PL rules regarding FMV of shareholder loan interest. At that point, it's more advantageous to go out and seek outside debt financing, if you can.

I highliy suspect Mosh will write these off... pretty sure thats been reported as a possibilty or part of the deal, it has to be otherwise TFG wouldn't get involved, no way they would take on the shareholder loans AND the debt for the stadium...

 

[pfim]

I highliy suspect Mosh will write these off... pretty sure thats been reported as a possibilty or part of the deal, it has to be otherwise TFG wouldn't get involved, no way they would take on the shareholder loans AND the debt for the stadium...

Of course he will write them off. The TFG deal wouldn't go through without that.

Having said that, it wouldn't matter at that point because he's no longer a shareholder.

What I'm saying is that if, in the future, TFG needed capital and could get it from conventional markets, they would do that over loaning the money themselves.

 

[Dublin blue 75]

If any other brand wants to match the £20m a year or better it, then yeah, I'm happy to dump them.

But I don't care, we won't be getting more than that elsewhere, so I'm fine with them.

My concern is that given their hopeless quality control, I would question their longevity. There’s a reason they are overpaying us.

 

[windymiller]

This is the most salient paragraph:

Should be easier to do now the stadium is essentially finished. Oh, and because TFG aren't a mad accountant fiscally dependent on a single sanctioned oligarch.

 

[windymiller]

Rich people don’t stay rich by spending their own money.

See also Trump and Elmo.

That sweet Sesame Street scrilla!

 

[matty1878]

hurry and get in!

 

[allen]

Should be easier to do now the stadium is essentially finished. Oh, and because TFG aren't a mad accountant fiscally dependent on a single sanctioned oligarch.

Yeah, you’d imagine a ‘mortgage’ is easier to get when there’s a fully-working stadium to secure it against.

 

[hoppy]

The Friedkin Group are in talks with JPMorgan Chase & Co. over restructuring the balance sheet of Everton post the takeover, according to Bloomberg.

The news outlet reported on 5 December that the American group are in talks with the world’s largest bank (S&P global) to raise debt to restructure the club’s loans, which are £660million.

 

[RomanReigns]

The Friedkin Group are in talks with JPMorgan Chase & Co. over restructuring the balance sheet of Everton post the takeover, according to Bloomberg.

The news outlet reported on 5 December that the American group are in talks with the world’s largest bank (S&P global) to raise debt to restructure the club’s loans, which are £660million.

Or they could just pay those loans off like with the billions they have in the bank

 

[Infernus]

The Friedkin Group are in talks with JPMorgan Chase & Co. over restructuring the balance sheet of Everton post the takeover, according to Bloomberg.

The news outlet reported on 5 December that the American group are in talks with the world’s largest bank (S&P global) to raise debt to restructure the club’s loans, which are £660million.

My guess is loans won’t be anywhere near that when takeover is all done and dusted. Moshiri loan written off. Friedkin group turned to equity. That leaves rights and media and 777. If they can restructure that to a lower interest rate then PSR will look much better.

 

[Lob]

No doubt they already have a very good working relationship with JPMorgan prior to this. Most American billionaires do. Whatever they are doing will be good for us imo.

 

[Del-boy]

Or they could just pay those loans off like with the billions they have in the bank

Billionaires become billionaires by spending other peoples money. Not their own.