777 Partners / Whatever the hell you like

[ForeverBlue92]

Same thing.

lol

 

[Moderatelywarmwater]

Trouble with their assets. They own two reinsurance companies. These are people insurance companies sell on your insurance to. So they have loads of cash floating about from those payments that they should be using for insurance payouts. 777 had an idea. Why don’t we take this money and spend it on something else? Make a profit and all is good. But, they got very greedy, they over borrowed on these assets and when they tried to buy us, the world found out. So now they have to get rid of those investments as their reinsurance companies have been downgraded to poor risks as they are so over extended that they might not actually be able to pay out claims.
So when we talk about assets, 777 have devalued their assets through greed and incompetence.

 

[windymiller]

Same thing.

No, it's not. If you have £9.6b of assets underwritten by £9.6b of third party loans then your net worth is zero.

 

[PeregrineT]

No, net worth is assets less liabilities. Everton has ample assets, with the shiny new stadium on the way. The problem is that the club owes more than they're worth, which is causing cashflow problems. Interest rates on the debt are high because the club owes so much, which exacerbates the cashflow problems.

The club does not owe more than theyre worth, not sure where you are getting that from. The club and stadium combined are probably worth a bit north of 1 billion and they owe 500-600m. I get that some people mistake the total debt numbers that Esk etc puts out as being just for the club, but that includes stadium borrowing.

 

[NathDogg]

Are these potless, clueless cowboys showing their faces at Goodison again tonight? Feckin nerve if they do.

Bored, bored, bored, boring, skint bores can bore off!

 

[Curtis]

I would like some choice everton seats like Josh going to setup a llc like 777 and even though I have zero funds much like 777 I'll pretend I have interest in owning everton just so I can watch games along as moshiri isn't there as he'd probably be annoying and befuddled asking how the game of football is played and how does a win occur?

 

[Eggsyblueskin]

Are these potless, clueless cowboys showing their faces at Goodison again tonight? Feckin nerve if they do.

Bored, bored, bored, boring, skint bores can bore off!

If they do appear tonight I think it’s about time we made it clear exactly what we think of them .

 

[NathDogg]

If they do appear tonight I think it’s about time we made it clear exactly what we think of them .

100% they need legging down Goodison Road mate, along with mosh, the shower of friggin chancers.

 

[pfim]

The club does not owe more than theyre worth, not sure where you are getting that from. The club and stadium combined are probably worth a bit north of 1 billion and they owe 500-600m. I get that some people mistake the total debt numbers that Esk etc puts out as being just for the club, but that includes stadium borrowing.

Correct on the club value, I don’t follow enough to suggest anything on the debt.

None of it has much to do with cash flow, which is a short term state of being. Profitable companies can have cash flow issues, unprofitable companies can have great cash flow. It’s more to do with debt payments and the timing of maturities.

 

[Toffeeslam]

If they do appear tonight I think it’s about time we made it clear exactly what we think of them .

I agree with you but they would point to the fact that they have been keeping the lights on with the loans they’ve given us……no one else is doing and certainly not Morshiri.

Unless someone else comes in we’re fooked

 

[ForeverEverton]

I agree with you but they would point to the fact that they have been keeping the lights on with the loans they’ve given us……no one else is doing and certainly not Morshiri.

Unless someone else comes in we’re fooked

TBF you are saying no one else is doing that....

1) It should be Moshiri until the sale is complete

2) No one else is allowed to as Moshiri has gone all in on 777

So saying "no one else is willing to" is factually inaccurate.

 

[Toffeeslam]

TBF you are saying no one else is doing that....

1) It should be Moshiri until the sale is complete

2) No one else is allowed to as Moshiri has gone all in on 777

So saying "no one else is willing to" is factually inaccurate.

I guess we will find out over the next few days or weeks if the reports are to be believed.

 

[Simon Buttle]

I agree with you but they would point to the fact that they have been keeping the lights on with the loans they’ve given us……no one else is doing and certainly not Morshiri.

Unless someone else comes in we’re fooked

Apparently we only need them till the end of the season then certain payments come into the club in June and we can tell them to do one then (This was a twitter thing so I have no idea how true it is btw)

 

[Azza]

These cap heads watching today?

 

[PeregrineT]

Correct on the club value, I don’t follow enough to suggest anything on the debt.

None of it has much to do with cash flow, which is a short term state of being. Profitable companies can have cash flow issues, unprofitable companies can have great cash flow. It’s more to do with debt payments and the timing of maturities.

Oh absolutely, even if you are profitable you will have months where you dont have cash coming in but have to pay bills. Over the course of a year it may be fine, but you may have to wait months before you get the next sky payment.