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*Shakes head* Everton again.


Fugitive

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13 hours ago, Harry Squatter said:

Saw a post about Duncan Ferguson calling Steven Gerrard a coward because he used to pick on smaller opponents. They lap all that stuff up about him being a hard case and it adds to the myth he created with him. 

 

Despite the fact that he butted John McStay when he wasn't looking and he was 2ft smaller than him. When he went to prison he was kept away from the general population and only spent a month there. 

 

He's achieved mythical status for beating up 2 burglars in his house with a golf club, both a pair of little bagheads who weren't armed. It's not like he took on a load of Albanian gangsters with machetes. 

 

He was arrested in Scotland for beating up a pensioner on crutches in a pub. 

 

The only player I've ever seen him take on of similar size is Martin Keown. All his targets have been the likes of Jimmy Bullard, Steffen Freund and Paul Scharner. No doubt he is tough because of his sheer size but he's built up like some Lenny McLean/Billy Whitehurst bare knuckle boxer type who will fight anyone. 

 

Funny thing is when you mention this to blues they say "say it to his face" like he's their big brother who will show up at the school gates to kick your head in. 

 

I've no doubt Ferguson was 'hard', at least for a footballer. I'd hardly say Gerrard was a coward though, certainly not mentally, he carried a mediocre team for several years through force of will and performance. Twatting opponents shows a lack of control and discipline rather than anything else.

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For those whoo can't see the above...

 

Paywalled on Bloomberg

Everton Gets Funding Offer From Firm Behind Previous Bidder 777
- Under new terms Farhad Moshiri would maintain majority control
- Advantage Capital Holdings is a major lender to 777 Partners

Advantage Capital Holdings LLC has made a proposal to invest in Everton FC, people familiar with the matter said, adding another unexpected twist to the takeover saga surrounding the English Premier League football club.

New York-based A-Cap and a partner firm have submitted a plan that would see them refinance all of Everton’s existing debt and then take a non-controlling equity stake in the club, according to the people, who asked not to be identified discussing confidential information.

A-Cap is a major lender to 777 Partners LLC, the US investment firm that’s just failed with its own bid to buy the historic club.

777 Partners agreed to acquire Everton last year but was unable to finalize a deal. That left the club and its owner, the businessman Farhad Moshiri, searching for a new buyer. Everton’s sizeable debt includes a $200 million loan from 777 Partners.

Deliberations are ongoing and there’s no certainty they’ll result in a deal, the people said. A representative for A-Cap and a spokesperson for Moshiri declined to comment.

A-Cap recently hired investment bank Moelis & Co. to review 777’s portfolio of football teams — a move that raised fresh questions about the Everton deal before its ultimate collapse.

Under new terms proposed by A-Cap, Moshiri would retain majority control of Everton, while seeing his 94% equity stake reduced, the people said. A-Cap and its partner would become the club’s co-owners, they said. The identity of A-Cap’s partner couldn’t immediately be learned.

777 Partners’ pursuit of Everton was dogged by financing problems and scrutiny of the investment firm’s management of its sprawling collection of businesses, some of which have run into difficulties with creditors. Australian budget airline Bonza, owned by 777 Partners, recently grounded all flights amid talks over the company’s future. 777 Partners had previously laid out ambitious plans to build a global airline portfolio.

Everton was among the founding members of the English Football League in the 1880s and is one of just a handful of teams that’s never been relegated from the Premier League. But it’s narrowly avoided dropping out of the top division in recent seasons despite heavy investment from Moshiri. The club has also taken on massive debts to build a state-of-the-art stadium in the Bramley-Moore Dock area of Liverpool in the northwest of England.

Another investor considering an offer for Everton is John Textor, the chairman of Eagle Football, an investment vehicle that holds an interest in Premier League club Crystal Palace FC. Textor has put his stake in Crystal Palace up for sale and has approached Moshiri about potentially submitting a bid for Everton, the person said.

A representative for Eagle Football declined to comment. Everton said in a statement in the wake of 777 Partners’ acquisition failing that it would continue to “assess all options for the club’s future ownership.”

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2 minutes ago, Barrington Womble said:

It's hard to see what's in it for acap. 

 

I'm no expert but risk mitigation maybe? If Everton and 777 go bust then they could be left heavily out of pocket.

 

This could enable them to turn some of the debts into equity which might be safer for them in the short term at least.

 

Just speculating in saying that so every chance I'm talking bullshit.

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9 minutes ago, Turkish Delight said:

 

I'm no expert but risk mitigation maybe? If Everton and 777 go bust then they could be left heavily out of pocket.

 

This could enable them to turn some of the debts into equity which might be safer for them in the short term at least.

 

Just speculating in saying that so every chance I'm talking bullshit.

Maybe. But it's going to cost them at least another 350m to do that to clear existing debt, on top of whatever they're already on the hook for, plus whatever Everton will need to get through till the stadium build is complete (another 100-150m?). It doesn't feel a great risk mitigation strategy. 

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20 minutes ago, Barrington Womble said:

It's hard to see what's in it for acap. 

Either there’s something really dodgy going on or they’re chasing the sort of magical capital growth FSG have achieved.  But it looks like throwing good money after bad.  

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I think it's possible that A-Cap have allowed their insurance rating to be damaged by funding 777's bad sporting and airline investments, and they don't have the capital to meet their insurance commitments (which they don't). 

 

Currently there is about £1b debt on the club. Taking out the 777 debt which is really A-Cap's debt anyway, if they paid the rest of at £800m they would gain effective control of the club. They could then raise money from player sales. It might leave them with a £600m hole, but you could probably load three times that in new debt on the stadium and club, and if they can keep them in the lower mid table places they can have the steady income from the TV rights and whatever is earned from the stadium.

 

This would probably allow them to but out Moshiris fully and replesnishe the coffers of their insurance business. Evcerton FC would essentially become a traffcked sex worker, having been forced to sign for a load of loans and credit cards with the proceeds going to A-Cap, and forced to work for a pittance while the majority of money goes to A-Cap.

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Announced on local news earlier they have 5 possible bidders, including Andy Bell, of AJ Bell Investing and George Downing, both apparently supporters, who are millionaires, plus interested US parties, the below is from the Echo website:-

 

”Downing and Bell, who have been part of the conversation over the club’s future since they emerged as players within talks between the Blues and MSP Sports Capital last summer, are at the forefront of a new plan. Bell is the founder and former chief executive of the investment giant AJ Bell, while Downing is the founder of Downing, a business that started in construction and has since expanded into property management and other areas. The millionaires would lead an offer backed by external finance and are understood to be assessing a range of options to support their proposal. Bell is listed as the sole director of a new vehicle called Toffee Ventures, a private company that was incorporated last month and is listed on Companies House as a business within the bracket of sports and recreation education.”

 

Make of it what you will.

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1 hour ago, coachpotato said:

Announced on local news earlier they have 5 possible bidders, including Andy Bell, of AJ Bell Investing and George Downing, both apparently supporters, who are millionaires, plus interested US parties, the below is from the Echo website:-

 

”Downing and Bell, who have been part of the conversation over the club’s future since they emerged as players within talks between the Blues and MSP Sports Capital last summer, are at the forefront of a new plan. Bell is the founder and former chief executive of the investment giant AJ Bell, while Downing is the founder of Downing, a business that started in construction and has since expanded into property management and other areas. The millionaires would lead an offer backed by external finance and are understood to be assessing a range of options to support their proposal. Bell is listed as the sole director of a new vehicle called Toffee Ventures, a private company that was incorporated last month and is listed on Companies House as a business within the bracket of sports and recreation education.”

 

Make of it what you will.

What I make of it is that if you're talking about people whose wealth starts with an M rather than a B, you're likely struggling. 

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7 hours ago, coachpotato said:

Announced on local news earlier they have 5 possible bidders, including Andy Bell, of AJ Bell Investing and George Downing, both apparently supporters, who are millionaires, plus interested US parties, the below is from the Echo website:-

 

”Downing and Bell, who have been part of the conversation over the club’s future since they emerged as players within talks between the Blues and MSP Sports Capital last summer, are at the forefront of a new plan. Bell is the founder and former chief executive of the investment giant AJ Bell, while Downing is the founder of Downing, a business that started in construction and has since expanded into property management and other areas. The millionaires would lead an offer backed by external finance and are understood to be assessing a range of options to support their proposal. Bell is listed as the sole director of a new vehicle called Toffee Ventures, a private company that was incorporated last month and is listed on Companies House as a business within the bracket of sports and recreation education.”

 

Make of it what you will.

Andy Bell just wants A Little Respect,Sometimes.

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