oh your not being mate atall.
just to me and others now it’s all been a load of everton ( bird sheet )
oh your not being mate atall.
just to me and others now it’s all been a load of everton ( bird sheet )
pfim
Player Valuation: £35m
All loans have rules to follow. Without actually seeing them, we can't tell if they are any more or less reasonable.
That doesn't mean that they control Everton per se. But if those rules are broken, EFC is in default and the loan can become payable, just like any other loan.
Blue peter
Player Valuation: £20m
Given this latest ‘setback’ I’m now fully invested in a little fantasy in my head, (this fantasy does not serious hurt the club), whereby it becomes apparent there has been misappropriation or laundering of funds or evidence of shadow investors. Kenwright & Moshiri both become discredited, shamed, disqualified from being a director and are criminally prosecuted which sees them both do time - that’s how angry I am with everything.
Stan Lee Park
Player Valuation: £20m
So MSPs offer to loan £100m rather than buy a share of the club for £250m presumably complies with the R&M "rules". Is this good news?
pfim
Player Valuation: £35m
Either that or they gave other concessions, or they loaned to the stadium entity and not the club itself.
None of this is "good" news, it's neutral or worse.
We are running a football club with the same principles I operated with a student loan and overdraft
Bazlar
Player Valuation: £20m
Forgive my ignorance here but I am not as clued up as others on here concerning this. How can Myers Tweet that there are two other interested parties when it was only announced yesterday that MSP pulled out. Didn't they have an Exclusivity Agreement whilst completing "Due Dilligence ?"
pfim
Player Valuation: £35m
An exclusivity agreement would only prevent EFC from closing a deal with another party. Nothing prevents them from continuing conversations with others or even receiving offers/bids.
I don't know that there are truly two other interested parties, but it's not unusual.
BirkenheadBlue
Player Valuation: £70m
Exclusivity expired at least a month ago.
The binman chronicles
Player Valuation: £80m
He did but we had to go back to that method due to the stadium costs by the look of it.
MrGrumpy
Player Valuation: £50m
Think people are miss understanding what’s going on.
MSP wanted 25% stake for 100 mil but where told by Everton I guess, that they will have to repay the R&M funding loan, an they refused
R&M dispute being extremely dodgy didn’t say NO you can’t buy Everton unless you pay us
MSP wanted 25% stake for 100 mil but where told by Everton I guess, that they will have to repay the R&M funding loan, an they refused
R&M dispute being extremely dodgy didn’t say NO you can’t buy Everton unless you pay us
pfim
Player Valuation: £35m
No one truly knows, but the first part doesn't stand to reason. Are you saying that they would put in 100 million and then be obligated to pay off the 200 million of RM funding?
Or that the 100 million would go to paying off part of the RM funding?
Neither makes much sense.
They need 100 million to help finish the stadium and got it.
There are a few reasons why RM might object. Obvious ones are that 1. MSP wanted interest (and then dividends) paid in cash instead of accrued interest; 2. with the MSP debt (which is what it was, convertible later), the club would be leveraged beyond the original parameters and RM wanted MSP or Moshiri to get the ratio back in line.
MrGrumpy
Player Valuation: £50m
Or RM insurance is on Moshiri shares and him diluting his shares makes them worth less, whole things mad unless Moshiri agreed a full takeover with someone else
Given what's just happened with the MSP deal falling apart as a result of one of these stipulations in the loan you have to question how wise it was to agree to such a contract.
The way it looks like right now is that this third party Rights and Media Funding has a very large say in the management and direction of the football club. We can't raise money by diluting Moshiri's share-holding to cash in on equity and we can't take out further lending without repaying this company in fully per The Athletic.
That's a fair amount of control to give away in exchange for what's supposed to be a "payday loan".
pfim
Player Valuation: £35m
Put differently, RM probably have a right to most/all assets of the club (if they have rights to future revenue, I would assume they have rights to all assets). The new debt would have put their leverage ratio above the covenant, and so they asked Moshiri/MSP to inject equity into the business (money that is last in line in the event of an insolvency).
