To sit on the fence as a devils advocate I can see the case for people saying administration is better than 777. I think they see it as inevitable in the near future if 777grasp power or not. It would be a huge mess if it happened with them at the helm after pumping even more borrowed monies in. What worries me most is who is funding them and when will they rear their heads to get the money back they're owed by this gang of frauds. Usmanov will not be writing off his money just yet either,as Moshiri and MSP won't be too. With the amount of businesses with big money tied up in this I can't see an easy way out, especially when all involved have different agendas and none with a care about Everton.
The only really far fetched solution I can see that would sort it is for MSP to exercise their right to a major share in the club and go from there, maybe having a football minded plant of Usmanovs at the helm to sort the club out. That's my dream ticket......until Usmanovs cover is blown once moreMy bet is Usmanov would stump up more cash too in the hope of recovering his losses, especially we are now safe and the stadium almost complete. Can't possibly see any outsiders coming in now, far too complicated.
Some weird stuff going on in our fans brains atm with some of the nonsense being churned out by the usual suspects.
On a different note my mate is absolutely convinced he can lip read , at the end of the game Barkley saying to Beto "I'm coming back" , Beto saying something back & Barkley nods his head & says it again
I looked at it again ....he does appear to say something like that .
Maybe my brain is starting weird stuff.
Both have made a lot of money being astute.
You’d hope so mate.
Probably because if 777 take over we will end up at administration anyway but with much much more debt around our necks and having already sold off all our assets, administration pre 777 gives us a chance of survival but administration post 777 will literally be us liquidated and ceasing to exist.Not too bothered about the 777 loans. If they do pay off the MSP loan it will all be converted into equity -- leaving them as the owners.
The one im concerned about is the Rights & Media (?) loan. Which if im not wrong started at £80mil 5+ years ago and is now around £200mil at 12% interest
As for administration, what would an administrator do...
...sell all our best players (and anyone that didnt refuse fo leave) quickly to get the cash together to pay back the creditors on £X on the £1 e.g we pay back £200mil to clear the £500mil loans.
Also staff will be laid off to cut costs + Goodison will be sold at a tiny amount and the stadium would be sold and leased back to us.
How any of that would benefit the club as the Esk claims would be better than 777 taking over doesnt make sense to me...
www.bloomberg.com
If they were found to be guilty of fraudulent activities it would surely disqualify them as owners of a PL club.More litigation, 777 accused of fraud, lending against $350m assets that they didn`t own or didn`t exist....
Lenders to 777 Partners Allege Fraud, Double-Pledging in Suit
Lenders to 777 Partners accused it of fraud, claiming that the Miami-based investment firm borrowed against $350 million of assets that either it didn’t own or didn’t exist.
Moshiri’s determination to see this deal through suggests a way will be found to manipulate a way to meet PL requirements.
