777 Partners - New Poll Added 18/10/23

New Poll... are you in favour of 777 Partners acquiring Everton FC


  • Total voters
    460
  • Poll closed .
Enjoy your 3 weeks off from Everton lads.





it’s all bs that

“you wouldn’t wait”
 

We`ve been waiting for about 6 months to see if this crowd can get the PL to approve their takeover.
What the hell is minded to approve mean? Are they good to take over or not? Its nearly as bad as waiting for VAR to make an offside call.
 
And @Goat

I am deeply humbled and touched by your willingness to advise on the degree and level of allowable insults that could be utilised in countering arguments with which I hold a differing opinion.

As a proud, born and bred Salfordian, let me assure you both that my ability to cuss and insult is honed to a very fine level however, our leader (@GrandOldTeam) has me bound to a vow of offering purely mild rebukes.

If (when) he dispenses with my services as Match Reporter/Moderator… well, let’s not tempt fate just yet 😜😜

Sound like a crap Liam Neeson
 

Enjoy your 3 weeks off from Everton lads.





No you know that these are full of sheet

Buyer waiting in the wings

Yeah okay esk I bet it’s Witsel and Mata
 
No you know that these are full of sheet

Buyer waiting in the wings

Yeah okay esk I bet it’s Witsel and Mata
Witsel is indeed owed money by 777 it seems.


Josimar has been reliably informed that the second tranche of payments owed to former Standard owner Bruno Venanzi and to the previous shareholders – Belgian international Axel Witsel among them – of the Immobilière du Standard de Liège, which owns the Stade de Sclessin, are due on 20 April, only four days before the Belgian football regulator, the Commission des licences, meets to decide whether to grant the club a licence for the 2024-25 season or not. Those payments, to which should be added the reimbursement of a 3 million euro loan by former Standard star Marouane Fellaini, are said to amount to around 6 million euro in total. Josimar received confirmation that, should 777 Partners default on their payment to Venanzi, their shares would automatically revert to their previous owner.

Though Standard’s CEO Pierre Locht is confident that Standard will meet its obligations, others fear that the Commission, which only gave Standard their licence for 2023-24 after imposing month-by-month monitoring of the club’s finances (and twice issuing temporary transfer bans), might not be as accommodating this time round. The sums in question will appear negligible in view of the hundreds of millions which 777 Partners are meant to produce in order to satisfy the Premier League’s requirements; but Standard has no resources of its own and is entirely dependent on 777 Partners carrying on injecting cash in the shape of share issues which are then written off to balance the club’s deficit. The most optimistic projections predict losses of another 10 million euros in 2023-24, to add to the 20.3 million lost in the last tax year and the 35.6 million the year before that. Several independent sources have told Josimar that suppliers had been waiting months and months for payments which still have to materialise. Payroll has been late for four consecutive months throughout the late autumn and the winter. A chain is only as strong as its weakest link.
 
View attachment 249808

If this is true, that's a cool 370+ before we look at Moshri's asking price - please be true.
If those are the conditions then the PL have played things well (for once).

IF they can meet them it does actually provide a lot of reassurance over the short-mid term funding of the club. It lowers the debt, gets the stadium done and funds the club. IF they meet it I would have fewer concerns about the takeover.

If they don't then it's clear and obvious they should not be approved and they won't be.

Entirely on 777 now. If they are worthy and able potential owners they know what they need to do to prove it. In a sense those conditions are a perfect test because either decision that results from them will have a solid case for being the right decision.
 
250 million all in to buy a premier league club with the newest stadium in the league sounds a damn good deal. 777, if they have the funds, should be biting hands off.
It’s not that though. If Josimar is right, it’s well over £300m.
Don’t forget though.
  1. They’ve already lent us £200m
  2. On purchase of the club the R&M is senior debt and must be repaid (I think this is right, anyone correct this?). That’s another £200m.
So, that’s £300m+ & £200m already in the hole & £200m for R&M crooks.
I make that around £700m in reality
Now the PL insists on no more than 65% of the purchased to be leveraged debt. So I assume that’s the £150m in escrow ??
It’s all very very murky
 
Maybe its just me, but I don't see these new conditions as especially onerous. The money to get us to the end of season is obvious, it makes no sense to take us over and then immediately plunge us into administration. The 150M converted to equity has been pretty mooted since the news of the loans started, since we were never going to be able to pay them back in one installment anyway, and they'll still be able to take what they want from the club regardless as the glazers have shown. Showing proof of payment for BMD is key to them being able to accrue significant revenue in the future, and it makes zero sense to leave it like the Nou Mestalla. And its been widely known/speculated that the loans to MSP and R&M are immediately due if ownership changes. With the interest rates both are charging, and the preference for 777 to be the sole consumer of the club teat, clearing both is kind of obvious.

So if 777 were ever serious about taking us over, and not just using us for publicity, this should be something they've been arranging since the deal was announced. For sure, its a decent chunk of change, but it should have been obvious well before they signed the deal with Moshiri. If its news to them, then they for sure are incapable of running any sort of business. But getting this conditional approval should help with raising the finance required if its still an issue for them.
 

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