777 Partners / Whatever the hell you like

[Martin Alvito]

Yeah, big fight, thats why the only people who have ever shown interest are some skint coke heads from Miami.

Biggly fight, the biggest.

I don't know how it works over there, but in the US once the exclusivity deal was signed, anyone expressing interest openly before it expires could be looking at a tortious interference lawsuit.

The problem is and always was that there were no other takers at Moshiri's price, which also explains how 777 was able to structure the deal into multiple installment payments. Once it falls through, Moshiri is out another year's operating shortfall and interest with little to show for it besides more debt. I would imagine he'll lose, relative to having taken a lesser lump sum from someone else in August.

 

[Goat]

Get off your knees and support this club, surrender monkey.

I look forward to them lining up to snap up the, *checks notes, deal of a century, when they buy this great football club with its 9 digit debts.

Peace be upon you David.

 

[Goat]

I don't know how it works over there, but in the US once the exclusivity deal was signed, anyone expressing interest openly before it expires could be looking at a tortious interference lawsuit.

The problem is and always was that there were no other takers at Moshiri's price, which also explains how 777 was able to structure the deal into multiple installment payments. Once it falls through, Moshiri is out another year's operating shortfall and interest with little to show for it besides more debt. I would imagine he'll lose, relative to having taken a lesser lump sum from someone else in August.

He went with 777 mainly cos they would give him a bit of cream, but he surely knew they were utter clowns, which begs the question, why didnt he go with these other people that are lining up?

But hey, no doubt 777 will hit the road and then at some point, somebody else will surely have to come in?

But its not a gimme, Ashley was trying to sell Newcastle for a long time till the Saudis came along.

 

[Hinchcliffe's Corner]

View attachment 254754

 

[GN!]

He went with 777 mainly cos they would give him a bit of cream, but he surely knew they were utter clowns, which begs the question, why didnt he go with these other people that are lining up?

But hey, no doubt 777 will hit the road and then at some point, somebody else will surely have to come in?

But its not a gimme, Ashley was trying to sell Newcastle for a long time till the Saudis came along.

I reckon two things drove Moshiri to 777, that dodgy loan from bill k linked mob and the structure of the 777 deal gave him the best chance or recouping as much as possible. Other more serious bidders would be put off by the debt structure and 777 are cowboys so wouldnt care.

Obviously, any shrewd operator would now be waiting until administration kicks in, even if it resulted in relegation (the owner would back themselves to build the club back up) and settlements made with the creditors, but it is a balancing act as all saleable assets would be fair game.

 

[Martin Alvito]

He went with 777 mainly cos they would give him a bit of cream, but he surely knew they were utter clowns, which begs the question, why didnt he go with these other people that are lining up?

But hey, no doubt 777 will hit the road and then at some point, somebody else will surely have to come in?

But its not a gimme, Ashley was trying to sell Newcastle for a long time till the Saudis came along.

Sunk cost fallacy, if you ask me. He wanted it all back, and tossed dice multiple ways (both completing the deal and getting paid after the fact) chasing a bad bet.

Others would have offered hundreds of millions of quid less. Their valuation probably hasn't declined too much. Their real cost for the transaction dragging on is the difference between their interest costs and Moshiri's for eight months, which is not inconsiderable. Against that, they get a whole summer to try and clean up the mess.

Moshiri did not want to mark to market for some reason, but it's that or dig into his own pockets again. If he can't do the latter, any bargaining leverage he had is now gone.

 

[pfim]

I think this could be the final nail in the coffin for 777's prospect of buying Everton if they are the owners of Bonza.

The Premier League couldn't approve them in any circumstance, surely.

They’ve already had airplanes repossessed, this is par for the course for them.

 

[pfim]

He went with 777 mainly cos they would give him a bit of cream, but he surely knew they were utter clowns, which begs the question, why didnt he go with these other people that are lining up?

But hey, no doubt 777 will hit the road and then at some point, somebody else will surely have to come in?

But its not a gimme, Ashley was trying to sell Newcastle for a long time till the Saudis came along.

He went with 777 because if the deal closed and they didn’t make installments, he likely would have held the club as security. He gets his price and takes the club back if they don’t pay. No risk, best price.

They underestimated how adverse the PL was to the deal, especially with the very public profitability struggles. And remember, 777 was his second choice.

 

[degsy]

Speculation Alert.

Australian BONZA Airlines owned by 777 has suspended flights, for the second time since Christmas...the first deadline??
My guess is they...allegedly...haven't/can't/won't pay the leases on their planes for next month/quarter/year - scraping up cash for the £158M to pay off MSP?

 

[Runub]

Speculation Alert.

Australian BONZA Airlines owned by 777 has suspended flights, for the second time since Christmas...the first deadline??
My guess is they...allegedly...haven't/can't/won't pay the leases on their planes for next month/quarter/year - scraping up cash for the £158M to pay off MSP?

What planes do they use? Boeing 777

 

[GN!]

What planes do they use? Boeing 777

 

[BNJ1878]

Speculation Alert.

Australian BONZA Airlines owned by 777 has suspended flights, for the second time since Christmas...the first deadline??
My guess is they...allegedly...haven't/can't/won't pay the leases on their planes for next month/quarter/year - scraping up cash for the £158M to pay off MSP?

I suspect it's more likely they don't have the money full stop.

Credit keeps getting downgraded, harder and harder to borrow money for cashflow.

They are done.

 

[DanB90]

No way am I getting in a big metal box and defying the laws of gravity when the people whose life my hands are in are these clowns and a company called BONZA.

 

[Exeter_Gently]

Someone Bell Chris Evans again.

 

[AndyC]

The end of 777 is nigh…

Passengers stranded, Bonza in administration in 'shattering news' for sector

The airline says it has "temporarily" suspended all services, leaving travellers scrambling for help to get to their destinations.

www.abc.net.au