Ben Jacobs claims that in light of their worries over the £200 million loan given to Everton, Leadenhall Capital Partners may resort to hostile tactics to maintain their position.
On October 2, the writer for Give Me Sport revealed that Leadenhall had written to a judge in New York, expressing concerns over A-Cap’s contract with The Friedkin Group.
The Friedkin Group is certain that the New York court will accept their contract with A-Cap in spite of this, and it is widely believed that the takeover will proceed according to schedule.
“Leadenhall Capital Partners has written to a New York judge raising concerns A-Cap’s agreement with The Friedkin Group to deal with a £200 million loan, made originally by 777 to Everton, constitutes asset-stripping,” Jacobs said, providing a detailed explanation of the issue on X.
“Leadenhall is involved in a complex lawsuit that claims to be a collateral scam. The Friedkin Group is still optimistic that their deal with A-Cap will be approved by the New York court.
“A-Cap and Leadenhall are engaged in a considerably bigger legal fight, of which the debt in question is only one aspect. Leadenhall is only writing at this point to ask for further details regarding the terms of the agreement.
“Leadenhall anticipated that in order to defend their position, extensive and maybe even hostile tactics would be necessary. The Friedkin Group believes it may take more than two months to complete, in part because of this. but a strong conviction that the takeover would go according to schedule.
Everton fans will not rest easy until The Friedkin Group have completed the takeover
Uncertainty has surely been introduced into the process by Leadenhall’s worries about possible asset-stripping and their legal activities against A-Cap, which reached an agreement with The Friedkin Group.
Due to the combative tactics Leadenhall may use to protect their interests, these legal entanglements may cause the takeover to be delayed, as shown by the estimate that completion may take more than two months.
The Friedkin Group is convinced that the New York court will accept their deal with A-Cap, which is wonderful news for the Toffees and their supporters, despite these problems.
This hope is based on the conviction that Leadenhall and A-Cap’s larger legal battle won’t ultimately stop the takeover, pointing to a convoluted but ultimately manageable route for Everton’s ownership change.
There will undoubtedly be challenges along the way before the takeover is approved, but nothing that would justify the Premier League rejecting the deal.
I hope the New York court finds in the Friedkins’ favor so that this may be resolved as soon as possible.
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