The Friedkin Group takeover of Everton is confirmed

Well, it is Christmas and I can dream….

COYB !

Going out for lunch so turning it into a mini celebration even though my wife doesn't get what's happening.

Great Christmas present for all Evertonians.

It will be a long road but hope springs in the corridors of our great club once again! A spectacular review needs to be undertaken of how the club has been run. Mistakes must be learnt from.

Let's make the Freidkins know what we are about at the weekend, let's show them what they have brought and the potential that could be unearthed.

A pre-season friendly with Roma next year please, let's get behind the multi-club model (like it or not) and welcome them with open arms.

As for Moshiri… I don't want to hear his name again, one of the worst things to happen to our club. Foolish man.

I really hope we can regain some of the status we’ve lost (or thrown away) over the last years.

The new stadium is a new dawn, new owners too. If these guys are smart with money and have a bit of luck with managers and players then we’re back in the game.

The fact that so many Evertonians have stuck with the club and still believe is a miracle. We must have been so so close to going down the drain.

But Moshiri gets some credit for building the new stadium, it’s up to the new owners to make it a success and all things good can follow.

Up the Toffees!

The menorah will blaze tonight with all blue candles, even though it’s a few days early.

Standards and professionalism at all levels are needed.

Expectations are the birthplace of disappointment so I am just going to enjoy being rid of the buffoon and the renewed life this will breathe into our stagnating corpse of a club.

I will also enjoy the feeling that we might actually have a vision, something sorely lacking for decades. Let's see what they do, hopefully they've been busy in preparation.

Yes! I guess the atmosphere at GP Saturday will be quite electric - coming off the results against Wolves and Arsenal (especially), the images of the nearly-complete BMD stadium, the anticipation of getting seats at the new place, and now this. I wonder if the players will receive any impetus from this?

Enough to make you want to celebrate with a bottle of Chang.

Okay, completely understood. But this is the start of a new being. I feel it in my bones.

After being an Evertonian since 1954, this is music to my ears.

My last real high (before migrating to Australia in November 1986) was the Cup-Winners Cup Final in Rotterdam. Jees! that was good and helped by the cops playing us in the main square.

A mega naming rights deal a'la Etihad please would be nice too - if it's good enough for Man City to have inflated sponsorship deals it's good enough for us!

To be honest I will be happy if they just give a shit and turn up to a match now and then at Goodison this season and BMD in the future.

TFG are the real deal and if any group is going to help us progress it's them.

They'll make mistakes no doubt but who doesn't?

A great weight's been lifted from my own shoulders and although we're not out the shit in the league yet at least we have credible, professional owners who know their stuff and have the funds to make a difference.

UTFT!

That is a serious write off!

He turned the club into a basket case with his hiring and firing madness. He made us a laughing stock. He hired Sam Allardyce and the FSW ffs!!

The years of mediocrity under kenshite turned into a nightmare under Moshiri.

Yes, we’ve got a shiny new stadium but he’s left us in intensive care, and we’ll be paying for his mistakes for years to come.

I really hope we don't hear much from TFG now, just let them get to work;

Restructuring the entire club from Ethos and Purpose through the Executive, Management and Staff layers, across all functions and divisions within the business, revise and modernise all of our commercial deals (stadium sponsors, shirt sponsors, kit distribution, catering, hospitality), exit Goodison with grace and gratitude, enter BMD with excitement, professionalism and shoulders back, chin up!

And maybe a couple of wing-backs for Christmas?

Dyche knows and has downed tools and Seamus has been giving the team talks. Just what I've heard from somebody on the inside…

Bye all. Good times ahead.

He wrote off £553 million of his investment and he left a new stadium that cost £750 million to build. He didn’t have to agree to those terms.

He did so to safeguard the future of the club, and for one an willing to express gratitude.

Let's just get this done and ram those “Best stadium in the Championship” jibes down the gobshites' throats!
UTnewFT

It was noticeable though that Thelwell and Dyche were mentioned in Moshiri's statetment, but not referenced in any of those from TFG.

777 agreed it as an unsecuritised loan but some posters were claiming that it would prevent the sale. That was never the case.

Don’t ruin it Sean!

I hope this lot make a fortune out of us by running us successfully and eventually selling us when we're in a great position.

I know what I'd do first. And conveniently right before the transfer window opens.

I'm hoping that the new guys make good decisions on all fronts, and that the team responds with better results on the pitch. I'm also hoping the only thing we debate on here is the merits of the staff and players, and we don't have to consult any financial or legal dictionaries in order to understand what may be happening at our club.

Everton x Opponents y is the most important aspect for us as supporters and it should be one of the highest priorities for the new people too.

Everton supporters finally get what they deserve as true story of Farhad Moshiri era emerges

I wonder if the Toyota logo could be paired with blue lettering instead of red?

On the field is trickier. Will be interesting to see how long TFG give Dyche. May well depend on results over Xmas. I actually don't think there are many more obvious targets than Graham Potter who has already done in the PL exactly what we currently require. He took a dour Brighton team that was struggling with relegation battles and with relatively small investment turned them into one of the better teams to watch in the league whilst taking them from 17th under Hughton to 9th in 3 seasons.

We can't expect to become European contenders overnight. Better football and moving back to a stable mid-table team must be the aim over the next 2-3 years. I can't think of too many managers who have already achieved that in the PL in recent times. Perhaps Iraola and Thomas Frank, but not sure they'd be easy to get.

Personally, I would've let Dyche go last season but Everton over the last few years has been a convoluted beast and who is to know what has been going on behind the walls.

Now I think continuity may be best, get us over the line Sean and start afresh in the Spring, the time of renewal, rebirth and regrowth?

We welcome today’s news that the takeover of Everton Football Club by The Friedkin Group is now complete.

Notwithstanding the development of our exceptional new home on the banks of the Royal Blue Mersey, our recent history has been clouded by relegation battles, financial uncertainty, failed ownership bids, a leadership vacuum and unjust sporting sanctions.

Today’s announcement provides the opportunity for Evertonians to once again look forward with hope and optimism.

We note the terms of the deal which help create a stable financial platform for future growth, and the commitment that new Board members, Dan Friedkin, Marc Watts and Ana Dunkel will lead “through actions, not words”.

We believe that these steps are critical in helping realise the great potential of Everton Football Club.

We would like to place on record our thanks to interim Chief Executive, Colin Chong, for the work he and the executive team have done in navigating the more difficult times and for his and their willingness to engage and keep open lines of communication.

The Friedkin Group is now part of one of the greatest sporting institutions in club football, one with a deep heritage, tradition, and a loyal fanbase that will demand the best. We are encouraged by the aims and ambitions that TFG have set out today and their stated core mission to go beyond the ordinary, lead through competence, innovation, teamwork and an eagerness to excel.

Providing clarity and communicating about the road ahead will be essential. We recognise that change will not come overnight. We look forward to hearing more about their plans in the coming weeks and months and working alongside them to help achieve their aims of embracing the passion, creativity and values of Evertonians.

Most of all, we look forward to getting back to winning ways both on and off the field.

If I read things correctly, Moshiri has walked away with just about £60, having agreed that his huge loans to the club be converted into shares, of which there has also been a fresh issue, taken up by TFG.

Time now to work our way up the table, and perhaps doing one or two things right in the FA Cup.

Stadium all set to go, new owners and a strong sister club in Roma, we can finally look forward with excitement for the future.

Still work to be done this season and beyond but better times ahead. COYB

Please please don't consider a manager from these isles — they are tactically inept!

I know he's in a job, but I'll like Thomas Frank.

Let's hope this really is the start of a new era for us. UTFT

No wonder he ran the Club so badly!

These guys have shown total professionalism since talks began. They've had the boardroom set up in place since day one of their talks, if not before. I have no doubt they have already looked at the coaching and playing staff and will react when they see fit.

This will not be an easy and/or quick fix but it would be great if the confirmation of new owners gave the squad a bit of a lift – especially with the festive season games coming thick and fast against top opposition.

"Moshiri is walking away with £25 million from the £128 million he spent to buy the club and £450 million in shareholder loans."

If this is correct, it completely reverses my opinion of Moshiri.

The football business was completely beyond him but, if the above is true, we need to build a statue to the fella.

It is true, Moshiri has lost up to half a billion on the club.

People may say it's his own fault and maybe it is. But with the new stadium and letting the club off with loans, I think we should show a little gratitude.

He should be rightfully proud of delivering the new stadium and what finally appears to be, hopefully, the right owners.

Let's pray this is the beginning of a blue phoenix rising from the ashes.

I've got stuck into him more than most but I'm a great believer that everyone makes mistakes – it is how you deal with them that marks your character.

I stand to be corrected and I may well have missed something here but, if Moshiri has taken such a monumental financial hit, I'd shake him by the hand and apologise for previous comments.

And does the Club own the new stadium or has it been financed by debt yet to be repaid?

Just can't believe we have a clean slate.

Back to football at last.

Maybe a little bit of off-field.

Nice that the Echo praises the tireless efforts of Everton fans over the last few years especially those brilliant away fans.

On the other hand, it stinks that they have never gone into detail on Kenwright's stay at the club as a shareholder, owner and chairman – no wonder when he had them in his pocket and they went along with his fantasy of being Everton's greatest ever supporter.

No wonder that the Liverpool Echo is held in such low regard that it is has been bought less and less over the years. I read about the Mister Moshiri article on my iPad, by the way!

You've got an iPad, Dave???

Yes, but do me a favour, don't tell anyone but I go to my local library every day nearly and this nice kind lady librarian enters all my posts for me.

What do you think would be a suitable Christmas present I could buy for her, cost not important! Cancel that bit about the cost — it's the thought that counts, right Mark?

Basically a notepad and a biro. 🙊

“We have provided an injection of capital to ensure the completion of the new stadium. The transaction has seen most of Everton's debt either converted to equity, repaid or refinanced on terms more favourable to the stability of the club.”

Just how much debt has been refinanced isn't stated.

Their comments on Everton and their history and especially their supporters was a nice read, and here is hoping that, once they become more personally involved, they will really experience how much this club means to their supporters as you can't just write about it – you have to experience it both home and away.

My hope for the New Year is stability from top to bottom, starting with a new Chairman and Board of Directors who understand how a Premier League club should be run, and bring in successful people in positions they are knowledgeable about to move the club forward.

Per Forbes, his net worth is considerably higher today than when he bought the club.

You are right, in the process of building that stadium, he did turn us into a laughing stock and I won't be defending him for that very reason. Spot on.

I don't think you need hindsight to realise they were all very bad appointments, especially when Moshiri then provided evidence that he was no more than a lackey when he then told us he didn't want Everton to take up too much of his time.

It got progressively worse until it eventually got out of hand when our silent owner was sanctioned, and through our darkest times, the contradiction has been that the thing that was crippling us has probably turned out to be our saving grace.

The new Everton Stadium at Bramley-Moore Dock would have never gone ahead without Usmanov's money, and Everton have needed a new stadium since the money wasn't really ringfenced when the Kings Dock project failed all those years ago.

I don't think Moshiri chose the chairman, mate.

It was the other way round. 😉

If Kenwright had have continued without Moshiri coming in, Everton would have been in a worse state, with no stadium.

I also think that a lot of the money lost was valueless, because of its source, tangible conversion to loans probably adding to its value. Those financing the loans made a great deal of money on high interest rates and probably had connections that benefited.

So all may not be as it appears. Everton, once they manage the PSR limits, could be solid enough. Professionally run, with a new stadium, a clear direction at last is bound to have had a positive affect on the team performance.

Also, they are getting rent from the Liver Building which is 700,000 sq ft empty.

Surely increasing wealth opens the door to play hardball and hang on for better offers from suitors unknown at a date no one can predict.

Unassailably, Moshiri tried and failed in his time… but at the last knocking, he has looked after us, I certainly hope so.

He put an absolute fortune into the club, he got us possibly the best-sited stadium in the world, and he must have had a dreadful few years once he realised that not only didn't he have any idea how to run a football club, but that he was surrounded by charlatans, frauds, idiots and incompetents from whom he was entitled to get infinitely better performance.

It was essentially like replacing Julius Caesar with Keir Starmer at the Battle of Alesia. Goggle-eyed incompetence personified, and at least Moshiri got out before complete disaster befell the club.

I'm glad to see the back of him and never jumped into the name-calling echo chamber, but I feel a little sorry for Moshiri who appears to have been the pawn of two equally despicable men. Somewhat subjective, that… but it's the way it looks to me.

He obviously accrued his wealth by fair means or foul, and with whatever dubious allegiances, but will be remembered fondly by most I believe for delivering a truly iconic stadium with significant architectural merit.

Football-wise, he should just have kept out of the way but made the biggest mistake of entrusting things to shhh... you know who. Perhaps he realised that so tried to get more involved.

So a new dawn heralds. I am so pleased to finally see these headlines and maybe my poor conditioned (by me) sons can start seeing the Everton I truly know.

UTFT and Friedkins!

When Arsenal moved to The Emirates, they were straddled with annual payments to pay off the stadium. Will we or won't we have that? Surely we can't actually have a stadium pretty much paid for?

An accountant. Stereotypically a cautious type who understands profit and loss margins, avoids risk, sees opportunities, and provides solutions.

A billionaire. Denotes he's pretty damn successful at his job and in business.

What the heck kind of version of Mr Moshiri did we end up getting at Everton? Not many of the above professional qualities ever saw the light of day once he had our reins. He seemed to chuck the whole saddle out of the window and go bareback. Blindfolded.

He appeared a rank amateur who was easily influenced by dodgy agents and any passing charlatan.

I believe he genuinely did try to make us a force again, but his cunning plan manifested itself into a Carry On farce, without the laughs.

His positive legacy is the stadium. For that, we have to thank him. But, I'm still lost as to where we are left debt-wise? Has Mr Moshiri written off hundreds of millions like I read on another site? Who will own the stadium? Everton FC or TFG?

We can only hope that Mr Friedkin is the real deal and that he can get this particular phoenix to rise. It's about time.

Why don't you just ask your librarian to show you how to dictate your thoughts into the phone?

I'm sure we would enjoy your posts even more!

Looking at comments on other sites
1. A fan since 1957,, , transferred them out of the club for a pittance of a fee, for example Ademola Lookman.

£22,5m for a guy who scored 1 goal in 1024 minutes of premier league action.

2. What is evertons rightful position in the PL then as they've been knocking around the bottom third for donkeys years. (I think he meant to write Everton's but we have to take pity on the uneducated thicko).

Going backwards - 15th, 17th, 16th, (Donkey presumably born to proud parents), 10th, 12th, 8th, 8th, 7th, 11th, 11th (Moshiri buys in), 5th, 6th, 7th, 7th, 8th, 5th

Step 1 - get back to the pre-Moshiri years.
Step 2 - get back to the Kendall Mk I years

He's had to deal with point deductions, do CEO duties, somehow keep the stadium build going, I guess having major input into the takeover negotiations, and god knows else he's had to put up with?

The man deserves a medal and praise and thanks from all of us. 👏👏👏👏

And not a moment of showboating. He deserves to stay on.

Well in, Colin.

👏👏👏👏

Don’t worry anyone and don’t give this pile of shit any credibility. Look who’s posted it. I’m cracking up here: ‘reliable source’, ‘somebody on the inside’. It’s sad bordering on pathos when someone craves attention so much. Hang on, incoming.

Breaking news: 48: Dan Ashworth likely incoming too

Remember this is the poster who told us that the North Wharf Road brigade have ‘sacrificed’ Everton to appease lower league clubs for years and years of unfairly redistribution of money. This poster told us that we would be put in the Championship.

Hey SK, have you managed to unearth any Friedkin moles on here yet?

So, that’s Potter to replace Dyche who has downed tools meaning that Seamus now gives the team talks and Ashworth will have a plush office in Finch Farm any day now.

(and some post: ‘Don’t ruin it Sean!’ or ‘Sean @ 42, my happiness has just dipped if that is true’.

No one has posted more conspiracy theories and, quite frankly, bollocks, on here than this fella with his ‘reliable source’ and all.

Hint: here’s the big clue so big it’s bigger than the biggest thing on this earth:

Sean Kearns 47: ‘No questions please’.

One of the largest pieces of mean-spirited rubbish I have read on here. Moshiri has done far more to make our club better than you or me.

I completely agree with Paul Hewitt, Barry Rathbone, and others, that the gift of the new stadium and the reported gift (is 'gift' the right word?) of somewhere in the region of half-a-billion quid (he even sold the club to what all seem to agree is a sound new buyer after his self-induced 777 travesty). I will chuckle for a long time to come about lighting the Liver Building in bright proud and defiant blue.

And I don't care how often Mike Gaynes keeps on telling us that Moshiri is richer now than when ‘he' bought the club (good luck to him) or how often Colin Glassar reminds us of the catalogue of mistakes and downright insulting decisions/choices that I/we have memorised and are the reason why I for one am made up that he is gone.

I don't like Moshiri. I'm glad he's gone. But that will not stop me giving him a hefty slap on the back to say thanks for his parting gift of a world-class stadium (it's not just a new stadium; it's an astonishing stadium in an astonishing location) and half-a-billion quid.

Hopefully the start of a new era with lessons from the past learned, and the recovery of Everton Football Club has started.

UTFTs!

What his post is, is conjecture that might, in a few weeks, make him look like he's "in the know" – or not. In which case we will be duty-bound to remind him.

As far as Seamus doing the team talks, not just assisting, but replacing a sulking Dyche, I find it, not conjecture, but utter made-up bollocks. However, I will take it back when the "reliable sources" are named!

There's never a dull moment at this club; I think we would get bored if there was not a crisis going on.

The Friedkin Group have some more big decisions to make.

So what does that tell you?

Merry Christmas, ya filthy animals.

We'd be his 3rd club in 7 months.

You bunch of miserable, looking-for-an-argument buggers make it boring here… As men of the world, you all very well know that I can't say who I heard it from, for obvious reasons.

And hey it may not even be true. But just know it was somebody high up. I'm not assed at all if anyone believes me, just thought some might be interested or think it was interesting like me…

I put money on it so I hope it is true. 😂 Potter at 5/2, fuck it.

He got us this beautiful stadium, yes, and he put his money where his mouth is, yes.

However, he frequently embarrassed us with his sound bites, his calls to Jim White. He got us tied up with the dodgy oligarch, he hired and fired like no other before him.

He hired DOFs and went over their heads, he let Kenwright stay on and the polarisations of their agendas nearly ruined the club.

He pimped us out to 777 Partners which would have ruined us. He got us into trouble with PSR and points deducted. He did deals with his agent mates against the wishes at times of the DoFs he employed.

He fucked things up so bad, he's not put a penny in for 2-3 years and we have only by the grace of God not been relegated or in administration.

I think I am perfectly in my right to say I am pleased to see the back of the foolish prick. I never want to hear his name again and I am amazed people on here continue to give him a free ride because of the stadium.

Now that is a conspiracy!!!

I assume that will be up to the new CEO rather than Friedkin, because a good owner picks his top executive and then empowers him/her to make those calls, but I'd say Chong's earned it a hundred times over.

The bloke on Greaty said it had plenty of Rum.. and a big box so plenty of storage!

Another charlatan. Friedkin out.

So "Thank you," Mr Moshiri, without you, we would be dead broke and in League One.. playing in a car park in Kirkby.
It may not have worked out the way you wanted, but your saving grace is the stadium, the best of Four Graces. After two or three glasses, I may even toast you...

Nah... whatever.

Yes, and showers of red tears in Southport, Tunbridge Wells and Oslo. Cry me a river, Kopites, as the times they are a-changing.

The Kenwright chapter is well and truly finished.

Abramovic was/is a peer of Usmanov. The Ambramovic style of ownership of spend spend spend and hire and fire worked at Chelsea. It did not work here. PSR coming in and the sanctioning of Usmanov fucked us.

The past is the past. Thank you, Alisher, for the new stadium at Bramley-Moore Dock. Your employee appeared an embarrassing clown, but he had a good coach in his lovely pal.

Onward Evertonians. May stability and proper stewardship be the new way going forward. UTFT. NSNO.

Hang on, Moshiri only owned 94.1% of the Club,; where did the other 4.7%come from? Did Jenny sell her shares too?

Andrew #54, why Toyota? Let's go upmarket, Lexus. No red in its logo either.

On the subject of Colin Chong, remember he's a construction project manager who was thrust into the interim CEO position alongside his main job of overseeing the completion of the stadium. He may not be best suited to being a member of a functional board, either by preference or experience. Running a football club is a long way from project manging in construction.

It would be like someone who ran a charity shop suddenly becoming a CEO of a football club. Oh, hang on…

Not belittling Colin Chong in any way, he's done a great job in uncertain times, but may just crave a bit of uncertainty that he's more comfortable with, like a resource-loaded Primavera Key Milestone Schedule. Construction gets in your blood and it's difficult to get out of it.

Given how iconic our new stadium is, I wouldn't be surprised to see him overseeing construction of future Olympic or World Cup venues for a host nation.

But if he does decide the blue in his blood is stronger than the construction and wants to stay with us, maybe that could work.

This is exactly as I see it, but careful, there are still plenty who regard this sensible explanation a conspiracy theory.

Anyway, the Uzbek and his useless puppet thankfully have nothing to do with the club any more. All we can do is hope that the new people are clever enough to navigate the constraints of PSR a lot better.

Eric #120, operational management is a set of skills that is readily transferrable across industries, as our new owner has shown in his car dealerships, resort ownerships, golf developments, Hollywood movie productions and massive conservation projects.

Colin Chong has demonstrated considerable adaptability under harrowing financial circumstances and might well be viewed by Friedkin's CEO as proven under fire.

And his Everton credentials go way back – I didn't know that he built the Park Stand 30 years ago.

Agree with all of that, my friend. He has left us with a bright future.

I was irked by being told I was “mean-spirited” because I wasn't displaying enough gratitude to the foolish puppet. Onwards.

But I am still left with a feeling that there is a coach out there who could get a better tune out of the squad we've got – impossible to know rationally but it's there...

He's also ridiculously well paid (£5M!!) so I have no sympathy for him if we appoint a new coach, but it's probably best to keep him until the end of the season unless we dive-bomb and are in serious trouble at the end of January.

However, we are picking up points. When Dyche's job has been questioned in the past, he has rallied and strung results together in one of his patchy runs; our new ownership might see us perform well over the coming weeks. Sacking him now could be risky, I'd love us to get Sarri but how long will it take to implement his style? What if we can't in time?

I think we back Thelwell and he is the continuity which will bridge Dyche with the next, more visionary manager decision. I'd like to see what Thelwell could do with a decent budget,

Surely, as people step up a level in organisations, almost by definition they are stepping into areas they have not managed before. The management accountant or auditor or tax specialist into the overall financial director role. The recruitment or salaries specialist into the overall HR director role. etc etc.

And similarly from those functional director roles into a CEO role or similar?

So if Colin Chong was stepping up as CEO of a construction company, I don't see he'd have any issues. But a leap of faith into another profession, I don't know, maybe he'd be up to it or like to take it on after his current experience as an interim.

But I'd doubt he's being considered for the CEO role by TFG myself.

But, it could all have been so different: if the Russian sanctions had not happened, then we most likely would be playing regular European football with a big-name manager.

Timing is always crucial and we were hit more than most with the sanctioning, but maybe that's just Everton for you.

I still can't get over our European ban when we were riding high all those years ago, thanks to a few Liverpool thugs.

Mmm… The Lexus Stadium has a nice ring to it ...

classy..

Maybe with a blue illuminated logo? hmm

I shared the Toyota thought as it seemed a likely sponsor due to the strong existing ties with the Friedkin family.

At the very least it would piss Masters off!

By the way, your "And hey it might not even be true" comment is beyond wonderful. Such a shame you have left us. Still, as a "club mole", I feel safer now.

The man took us to the brink of oblivion, like Adolf and his 1945 Götterdammerung finale, only good fortune saved us from the criminal incompetence of Moshiri.

Bullshit! Moshiri is tied to the club financially. He hasn't written off his loans, he has equity in the club.

Without further ado, I give you Grok AI:

My question to Grok: "Everton current debt liability. Consider Friedkin purchase and Moshiri rights to long-term equity. Forecast how much Everton with stadium will be worth in the future years and will Moshiri get his money back?"

Grok: "Current Debt Liability Post-Friedkin Purchase:

After the Friedkin Group (TFG) completed its acquisition of Everton Football Club, the club's debt landscape has significantly shifted:

Total Debt Reduction: Most of Everton's previous debts have been either converted into equity, repaid, or refinanced under more favorable terms. The deal saw:

Rights and Media Funding (RMF): This debt of £225 million was settled by TFG.

777 Partners/A-CAP: The £200 million owed to 777 Partners was taken over by A-CAP, with an agreement for £66 million to be paid upfront, and the rest potentially converted into equity or rescheduled.

Bluesky Capital: Farhad Moshiri's £451 million shareholder loans were converted into equity to comply with new Premier League regulations on Associated Party Transactions (APT).

Metro Bank: A remaining debt of £11.25 million, but this is now the last significant external loan on the books.

Debt to TFG: TFG itself has become the primary creditor by providing loans to Everton to manage these previous debts, now holding a significant stake in the club's future financial obligations.

Moshiri's Rights to Long-term Equity:

Moshiri has effectively relinquished direct control over Everton by converting his shareholder loans into equity as part of the Friedkin deal. This conversion was necessitated by the impending Premier League rules that would have impacted how these loans were treated under Profitabiliy and Sustainability Rules (PSR). This move signifies Moshiri accepting a considerable financial loss on his investment but keeps him with equity in the club, albeit not in a controlling capacity.

Future Valuation of Everton with Stadium:

Immediate Impact: The new stadium at Bramley-Moore Dock, with a capacity of around 53,000, significantly boosts Everton's potential revenue through matchday income, naming rights, and increased commercial opportunities.

Long-term Forecast:

Short-term (2-5 years): With the stadium operational from the 2025-26 season, Everton's valuation is expected to rise. Assuming the club maintains or improves its competitive standing in the Premier League, the club's value could easily exceed £1 billion, considering:

Increased matchday revenue due to higher capacity and modern facilities.

Potential lucrative naming rights deals, which could be one of the highest in Europe, as suggested by Kieran Maguire.
Enhanced sponsorship and commercial deals due to the new infrastructure.

Medium to Long-term (5-10+ years):

Continued stability and success on the pitch could see Everton's valuation climb further, potentially reaching £1.5 to £2 billion, especially if the club qualifies for European competitions regularly.

The stadium's full financial benefits, including tourism, events, and community use, would solidify Everton's financial health, making it an even more attractive asset.

Will Moshiri Get His Money Back?

Direct Financial Return: Moshiri will not likely recover his full £750 million investment directly through the Friedkin deal. His decision to convert loans into equity means his financial recovery is now tied to the club's success and future valuation increases.

Equity Appreciation: If Everton's value appreciates significantly as forecasted, Moshiri could see a return on his investment through the appreciation of his equity stake. However, selling this stake would depend on market conditions, Everton's performance, and the willingness of future investors to buy into Everton.

Legacy vs Financial Recovery: Moshiri might view his involvement more as securing Everton's long-term legacy rather than purely as a financial venture. His return, if any, would be incremental and tied to the club's growth under new stewardship.

In conclusion, while Moshiri won't see an immediate return of his capital, the long-term prospects for Everton, especially with the new stadium, could potentially offer a pathway for some financial recovery or at least mitigate his losses if the club experiences sustained success.

As with most AI responses, they need careful fact-checking. You'd expect someone who boasts on here about his legal credentials to know and do that… or perhaps not?

"This move… keeps Moshiri… with equity in the club, albeit not in a controlling capacity."

Really? Yes, Moshiri converted his loans into equity in the form of 150,250 new Everton shares. But he didn't keep any of them. He sold them all to The Friedkin Group.

"Moshiri could see a return on his investment through the appreciation of his equity stake."

Er, no. I don't think so. His equity stake has been reduced to zero, zilch, nada, nowt. Unless there is some unpublished agreement as part of the Friedkin deal that gives Moshiri additional money down the road, he will have taken one absolutely massive hit on his investment.

You clearly do not understand the maxim equity follows law and or negative equity (Moshiri's current) rises with success of Everton. I said that all along, didn't I. I don't require an answer.

By the way, Simon Jordan and Peterboro's owner said that Moshiri will get his money back or more. Or do you think Friedkin would have purchased Everton for a bargain of the century?

Friedkin knows if he pays those loans off or make Moshiri current equity towards buoyancy and in the longer term, significant equity.

I reckon Moshiri will get at the very least £500M back. We are talking regeneration of water front property and generation of business and economy notwithstanding the new stadium for commercial functioning and gate revenues.

It's logical, actually.

I worked for Westinghouse Electric Corp when the shareholders brought in a CEO from Pepsi. Within a few years, Westinghouse existed in name only. Many of my colleagues had been fired and the ones that survived were then working for the likes of Northrup Grumman or ASEA Brown Boveri.

I ended up working for Toshiba. But the shareholders were happy.

AI answer to debt restructuring:

Debt Restructuring Explained:

Debt restructuring is the process of reorganizing the terms of existing loans or debts to improve the financial health of the debtor (in this case, Everton Football Club). Here's how it typically works:

Negotiation: The debtor (Everton) negotiates with creditors (banks or bondholders like JP Morgan) to alter the terms of the debt. This can involve:

Extending Maturity Dates: Pushing back the deadline for repayment.

Reducing Interest Rates: Lowering the cost of borrowing to make repayments more manageable.

Changing Repayment Schedules: Converting a lump-sum repayment into periodic payments or vice versa.

Debt-to-Equity Swaps: Converting debt into equity, where creditors receive shares in the company instead of cash repayments.

New Debt Issuance: Sometimes, new debt is issued at more favorable terms to pay off old debt, often with the involvement of a financial institution like JP Morgan.

Debt Consolidation: Combining multiple debts into one loan with a single, lower interest rate.

Hypothetical Scenario: Everton and JP Morgan

Selling a Receivable vs. Restructuring: In this scenario, Friedkin isn't necessarily selling a receivable. Instead, restructuring involves negotiating new terms for existing debts. However, if part of the plan includes selling receivables (like future income streams from the new stadium or broadcasting rights) to raise cash for debt repayment, that would be more akin to asset securitization, where future revenue is bundled and sold as a security.

Financial Gains:

Friedkin: Reduced Interest Expenses: Lower interest rates mean less money paid out in interest, freeing up cash for other investments or operational needs.

Extended Repayment Period: More time to generate revenue before large repayments are due, improving cash flow.

Equity Conversion: If some debt is converted to equity, Friedkin could see a reduction in immediate financial liabilities at the cost of diluting ownership but potentially benefiting from future growth.

JP Morgan: Potential for Higher Interest Over Time: Even if rates are lowered, they might still be profitable for JP Morgan, especially if they believe in Everton's long-term prospects.

Relationship Building: Assisting in such a significant restructuring can solidify JP Morgan's relationship with Friedkin, potentially leading to more business in the future.

Asset-backed Loans: If the restructuring involves loans against future revenues or assets, JP Morgan secures a position where their lending is backed by tangible assets or revenue streams.

Commercial Benefits to Owners vs. Debt Liability to Everton:

Commercial Benefits for Owners (Friedkin):

Financial Flexibility: Restructuring can free up capital for reinvestment into the team, infrastructure, or other strategic initiatives.

Risk Reduction: By restructuring, Friedkin could mitigate the risk of the club going into administration due to unmanageable debt.

Valuation Increase: A healthier balance sheet can potentially increase the club's market value, beneficial for Friedkin if he considers selling in the future or using the club's equity as leverage for other business ventures.

Debt Liability to Everton:

Long-term Debt: While restructuring might make repayments more manageable, it doesn't eliminate debt; it might extend it, meaning Everton will be paying off this debt for longer, potentially affecting future financial strategies.

Interest Payments: Even at lower rates, interest will still need to be paid, which could strain cash flow, especially if revenue projections don't meet expectations.

Covenants and Conditions: New loans might come with covenants or conditions that restrict Everton's management in terms of spending or strategic decisions, potentially limiting operational freedom.

In conclusion, debt restructuring is a strategic tool to manage financial burdens but involves a balancing act where the benefits to the owner (Friedkin) in terms of cash flow and club management are weighed against the club's ongoing financial obligations and the terms set by creditors like JP Morgan.

You shouldn't need me to remind you of these words the great man himself wrote regarding the maxims of equity:

Apart from a vigorous life in law examinations at the pen of weaker candidates, most maxims do not today greatly figure in judicial language, and their principal harm is, by their banality, to reduce manifestations of justice to the level of simple chatter, and thereby to devalue the underlying conscience.

Moshiri doesn't have any current equity in Everton FC. What he had, he sold to The Friedkin Group (aka Roundhouse Capital Holdings Ltd). Any increase in value, short or long term, will accrue to them and not to Moshiri.

I asked the librarian to show me how to dictate my thoughts into my IPad not knowing she could read them. After 2 minutes, she called the police.

I just got out this morning after 3 days of bleedin' interrogation. They'll let me know when I'm up in court.

Thanks a lot, Peter!

Personally, I thought Grok was an animated movie character.

What are you thinking ought to be the main lines of our defence, Mr Wilson? Hang on, I'll just run it through Grok.

Seriously, I dip in and out over a 2/3 day period, but some contributors are on here every day, several times a day.

Obsession or addictive, or a bit of both?

And there are some youngens like me who, like many in these times, work at/from home. In my case, I write, so I sit here on my own with no one watching me and no one to be honest to answer to except myself.

By the way, does anyone have any inkling why we have not see Jamie Crowley (64) on here for so long?

That's something I have my staff do.

And PF you're lucky you're half a world away, you young whipper snapper.

Everton get out of this mess by regeneration of Bramley-Moore Dock in terms of waterfront property that will inevitably increase value; value appreciation and create immediate to long-term economic growth; jobs, valuation appreciating.

Bramley-Moore Dock is the golden dust, but right now is a glorified building site. Everton with Bramley-Moore Dock is capable of bringing in much more money than Goodison Park, as we all know.

Grok AI states financial year 2022-23 brought in £172M. Revenue could increase when the new stadiium is operational to as much as £1M a game or £50M a year. Currently it's £0.59M, or £590k per game.

Valuation and resale value rests on its commercial viability. It is currently in negative equity, meaning the debts Everton owes, presumably circa some £600M. Lurking around relegation decreases value so we need to invest in players to keep us around mid-table and stability in debt-to-income ratio management.

This is why Friedkin uses the term 'stability', it's an allusion to the debt state of Everton. I think restructuring Everton's debt to JP Morgan limits his liability to Everton, he is not going to pay off debts per se as the threat of relegation is immediate and the threat of administration rests on the success of the new stadium.

Friedkin took Everton probably for future value which I reckon could be doubled in 2/3 years, so potentially up to £2B, ergo back in equity: the difference between debt and market value of Everton with assets, ie the new stadium.

I think Moshiri will get most of his money back as he didn't wipe away his interests in Everton per se, he just transferred his interests to equity: shares based on forecast success. When Everton is stable and if projected value of appreciation, say £2B, is reached, Friedkin will either pay off the £600M debts and convert to equity, where he will make around £1B in profit, or keep Everton, and sell Roma.

So all Everton need to do is make Everton successful and thus the administration threat disappears, and keep the club in mid-table, with a view to reaching European or Champions League places.

Everton could sell the new Everton Stadium and move to a bigger stadium. It could be just a business investment as it is a small stadium in terms of its 53,000 capacity. It will need at least a 70,000 capacity to compete with the Top 6.