777 Partners / Whatever the hell you like

[Lee Smith]

Coffeezilla could do a 3 hour exposé on these charlatans. He’d have a field day.

 

[Neiler]

At what stage would the PL step in and say that with all the new problems with 777, that they wont allow 777 to proceed even if they found the MSP loan money?

They won’t.

777 will preclude themselves either by being found guilty of alleged fraud or going to the wall.

Either of which above actually probably won’t matter, as they couldn’t ever raise the required funding and they definitely aren’t now.

 

[Dymak]

I cant imagine so.

So this would be considered by any potential ‘alternative bidder’.

That money invested by Moshiri through BlueSky or whatever is just gone, nobody’s getting it back.

 

[ToffeeSte78]

The accounts don't make for good reading and the new PSR (whatever it's called) puts a limit on spend. Anyone coming in may well cover the debt but then be told they can't spend a great deal on the squad to stay within the expenditure threshold. Anyone looking at that squad knows there's a major rebuild but can't spend the cash they want on it. I'd say there's not many potential owners about who want to pay off £500m of debt and not invest in the squad, which puts their asset at risk of relegation and naff money coming in, in lieu of PL cash.

 

[Blue Smoke]

In the event of administration what would happen?
Obviously 9 points. But - would loans get written off? Would we own or even have the new stadium? Would administrators force the sale of players to pay fees/bills etc?

 

[Goat]

So this would be considered by any potential ‘alternative bidder’.

That money invested by Moshiri through BlueSky or whatever is just gone, nobody’s getting it back.

It gives Moshiri a slight advantage in negotiations.

Advantage is probably the wrong word.

All told Moshiri/Usmanov have "invested" around 800million in the club so far, give or take.

Thats his break even figure.

I think everybody can agree hes never breaking even.

 

[Blue Smoke]

The accounts don't make for good reading and the new PSR (whatever it's called) puts a limit on spend. Anyone coming in may well cover the debt but then be told they can't spend a great deal on the squad to stay within the expenditure threshold. Anyone looking at that squad knows there's a major rebuild but can't spend the cash they want on it. I'd say there's not many potential owners about who want to pay off £500m of debt and not invest in the squad, which puts their asset at risk of relegation and naff money coming in, in lieu of PL cash.

If the new owners are cash rich and can pay off all the loans, whilst accepting for a couple of years they wont really be able to drag a wage out of the club so to speak, then surely theres massive savings on interest payments to start with?

 

[Goat]

In the event of administration what would happen?
Obviously 9 points. But - would loans get written off? Would we own or even have the new stadium? Would administrators force the sale of players to pay fees/bills etc?

Basically, our assets would be sold off to pay creditors.

The only assets we currently own are the players.

The Stadium is a grey area.

 

[Blue Smoke]

Liquidation is selling assets (such as players) i thought? Administration is working on getting a company back to making a profit. Although I'd imagine the same outcome would be what would happen. (Selling players)

 

[RomanReigns]

at some point the prem needs to say to moshiri that he needs to find another buyer

 

[matty1878]

If somebody came in tomorrow and they were pretty clean, we could probably get it done by the end of the Transfer window.

Maybe.

But nobody is coming in tomorrow.

777 are "paid up" till the end of the month, so realistically I doubt anything at all happens before the end of May.

i will walk around millwall singing come on you irons if nobody else buys us

i’m that confident

 

[matty1878]

at some point the prem needs to say to moshiri that he needs to find another buyer

he’s got his hands on his ears

 

[matty1878]

It would take longer than that to do the due diligence and get EPL approval.

well it will happen

 

[Rollo Tomassi]

I have a fondness for making numbers up.

Oh, people can come up with statistics to prove anything. Forfty percent of all people know that.

 

[wainy]

It’s essentially a game of chicken between Moshiri and potential investors.

Moshiri needs funds to meet cash calls as he is Everton.

Moshiri also wants a certain price for his shares.

Investors hold the tension, use the need for cash calls and wait for Moshiri to drop his price.

If 777 stop funding in June (I’ve already moved on from them) the music stops and someone has to sit in the funding cash call chair.

Moshiri, could kick the can down the road sell Branthwaite that might get him through to Sep.

Yeah, forget 777 completely. That ship has sailed now.

Is he in a position to play that game? Like you mention, he has a few outs that can delay for a few months in Branthwaite, Pickford and onana but he essentially has no power over this situation anymore (as far as I can tell) in terms of dictating price, the man is absolutely desperate. Does he risk playing silly games and walking away with nothing should the club slip into administration?

Absolutely shambolic it’s come to this. My fear is that any half decent owners wouldn’t touch us anyway now given the crippling debt levels, clowns like R&MF seemingly holding a lot of power too. Will we just end up with a more legit 777?