If there is no disputing the amount of the loan received, put it in Escrow and let the lawyers decide who its due to in the end.
If their whole deal to buy the club relies on Friedkin paying 70c on the dollar to clear our debt then they are just vultures that spotted an opportunity to buy cheap and are not the viable sports club owners they seem to be. 
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It is apparently a bit of both
The lawsuits from Leadenhall/others, together with regulator constraints on A-Cap currently prevent them negotiating either a loan hair cut or conversion to a minority shareholding because ownership of the loans is disputed due to the alleged multiple pledging of them as security for other loans.
This creates more financial uncertainty and a reputation risk for a buyer who might get dragged into the lawsuits.
This will be the same for any other buyer. Some may have a different attitude to risk but generally Cowboys accept more risk than competent corporates… Previous Message
and how they struggled to realise that the new stadium was worth nothing unless there was a PL team playing in it.
Surely Friedkin get that point, and therefore need a takeover to happen soon.
The key issue is:
- Did this deal collapse because they couldn't agree a haircut with A-Cap. implication being another buyer might pay them more and get it done
- Did it collapse because due diligence unearthed something that makes it more complicated than negotiating a haircut. e.g. a fundamental legal problem in the nature of the loans we took from 777
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We’re proper fucked now.
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on July 19, 2024, 12:44 pm, in reply to "