I’ll have a bitter please...It’s the Everton thread

Yes, but Friedkin asked his kid what he wanted for his birthday. He said “a cowboy outfit” and here we are.

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54 :man_facepalming:

RIP Kevin Campbell

I remember hearing something about him being ill about 2-3 months back but didn’t think it was that serious, at least not to have taken him so quickly.

RIP

Not good to read

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I thought it was going be Prickford.

He’s still getting teased. The name change has had no effect.

Should have changed to Longarm or Slocum. :sweat_smile:

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He can’t catch a break…arms too small

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Another takeover bid has fallen through, yet they are apparently ‘still an attractive proposition’ :rofl:

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Grand old team forum down.

https://x.com/lovefutebol/status/1814242336718590438

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What a millstone. That is such a massive debt overhang, starting to compare with the Spurs project. Even with a huge lift in matchday and event revenues, the new stadium locked Spurs into a period of 5-7 years of servicing a large initial tranche of debt - and likely struggling because of it.

For Everton, the increase in matchday revenues will be nowhere close, event revenues will be a tiny bump (Spurs had the NFL deal in hand when they broke ground), and they have incurred most of that debt in a higher interest rate environment - and probably with a larger percentage in shorter-term debt.

My guess is that whoever actually holds the senior debt position on the stadium is going to end up owning the club, unless there are some very interesting security terms.

edit: What an absolute mess…

the major stumbling block has been a situation involving previous prospective buyer 777 Partners, whose proposed takeover plan had been backed by funding from financial insurers A-Cap.

The 777 group loaned Everton £200m during their attempt to take over and the issue was not paying that off, but the legal action that 777 faces in the US.

Friedkin Group did not know how long this would last for, was unclear about who was in charge of the loan, and was wary of any potential risk, so it decided to walk away rather than wait for the issues to be resolved.

The Friedkin Group, which injected £200m into the club and paid off a £158m loan to MSP Sports Capital and two local businessmen, will “remain a lender to the club”, the joint statement on Friday added.

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Any other club would have been in administration by now.

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I love the business model - upfront payments from prospective new owners who then don’t complete.

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That’s £400M of debt in there! I am not sure how you even start a conversation with the next potential buyer when they know there is 400M to discharge before you start talking about the club or the stadium.

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Also building a stadium on reclaimed land. As someone here put it , that’s always going to increase the costs.

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A Middle Eastern oil group will come in, and buy them.

There are other clubs with far lesser debts that can be acquired.