777 Partners / Whatever the hell you like

[Librarian]

They won't get it any cheaper than that. It would be about £400 million for them, £200 to 777 and £200 to R&M. If they wait for administration they won't be able to necessarily buy the club, and they won't necessarily get their money back.

I would have thought that a lot of the debt is ultimately stadium related and would be wrapped up in a mortgage type of refinance in the end

Would they not effectively need to convert their (MSP) debt to equity, keep Moshiri, raise what is needed to complete the stadium maybe 100m or so (that satisfies the PL requirements) and the 777 and R&M debt gets restructured into a more manageable mortgage (would be a lot less than what the stadium is valued at).

 

[Dublin blue 75]

And Moshiri walks away with nothing?

Entirely deserved.

 

[Goat]

I would have thought that a lot of the debt is ultimately stadium related and would be wrapped up in a mortgage type of refinance in the end

Would they not effectively need to convert their (MSP) debt to equity, keep Moshiri, raise what is needed to complete the stadium maybe 100m or so (that satisfies the PL requirements) and the 777 and R&M debt gets restructured into a more manageable mortgage (would be a lot less than what the stadium is valued at).

Are you lending money to a club when its "financial experts" and auditors keep saying its going into Administration?

I mean you get the loan against the Stadium, but what is that Stadium worth, without a tenant?

 

[Librarian]

Are you lending money to a club when its "financial experts" and auditors keep saying its going into Administration?

I mean you get the loan against the Stadium, but what is that Stadium worth, without a tenant?

The lender would be taking away the very reasons for possible administration and have full control over that possibility.

This will why the club brought in restructuring advisers a week ago and we now know that Bell and co were in talks at that stage

Whether it works or not, I would think that’s the plan.

 

[Goat]

The lender would be taking away the very reasons for possible administration and have full control over that possibility.

This will why the club brought in restructuring advisers a week ago and we now know that Bell and co were in talks at that stage

Whether it works or not, I would think that’s the plan.

Imagine the interest rate we get tho.

Its an utter mess, as I said last week, only an oil state saves us at this point.

Sensible ownership and debt restructuring will certainly help, but the amount of debt we have will take a massive chunk out of our pockets for a long time.

 

[Moderatelywarmwater]

Are you lending money to a club when its "financial experts" and auditors keep saying its going into Administration?

I mean you get the loan against the Stadium, but what is that Stadium worth, without a tenant?

Yep, we’re high risk debt and will be for a while. No 5% loans for us

 

[Librarian]

Imagine the interest rate we get tho.

Its an utter mess, as I said last week, only an oil state saves us at this point.

Sensible ownership and debt restructuring will certainly help, but the amount of debt we have will take a massive chunk out of our pockets for a long time.

What would the debt be at that point though?

Let’s say the 160 owed to MSP is now gone as equity, Moshiri is still in situ so his debt won’t count, the 3rd party put in whatever it takes to finish the stadium and join up with MSP and convert to equity.

That just leaves 777 and R&M and some other small loans. Add that together into a mortgage that’s probably half the value of the stadium. (You still have Goodison to sell)

 

[Swartzy]

We're going to be ok. Watch the real fight for Everton unfold now.

 

[Goat]

What would the debt be at that point though?

Let’s say the 160 owed to MSP is now gone as equity, Moshiri is still in situ so his debt won’t count, the 3rd party put in whatever it takes to finish the stadium and join up with MSP and convert to equity.

That just leaves 777 and R&M and some other small loans. Add that together into a mortgage that’s probably half the value of the stadium. (You still have Goodison to sell)

And we are back to assuming Moshiri is just gonna sit there and watch his 800m "investment" given to somebody else.

I doubt Goodison is worth much.

 

[Librarian]

For reference

‘’Spurs borrowed £637m from Goldman Sachs, Bank of America Merrill Lynch and HSBC for the £1bn project and the money was due to be repaid by April 2022. But through US investors Levy has converted roughly £525m of the debt into a bond scheme, with staggered maturities of between 15 and 30 years.‘’

 

[Librarian]

And we are back to assuming Moshiri is just gonna sit there and watch his 800m "investment" given to somebody else.

I doubt Goodison is worth much.

A. It’s actually his best bet at the minute of getting any of it back

And B he doesn’t have a choice since MSP have that option to take 51%

It relies on finding a lender, and I suspect our biggest obstacle to that is the flirting with relegation the last 3 seasons more so than anything else

 

[Goat]

For reference

‘’Spurs borrowed £637m from Goldman Sachs, Bank of America Merrill Lynch and HSBC for the £1bn project and the money was due to be repaid by April 2022. But through US investors Levy has converted roughly £525m of the debt into a bond scheme, with staggered maturities of between 15 and 30 years.‘’

Spurs' total revenue for the year increased by 24% to 549.6 million pounds.

 

[Librarian]

Spurs' total revenue for the year increased by 24% to 549.6 million pounds.

That’s why the lender was happy to loan to them because the stadium makes money

Biggest difference for us is our flirtation with the drop

 

[Goat]

A. It’s actually his best bet at the minute of getting any of it back

And B he doesn’t have a choice since MSP have that option to take 51%

It relies on finding a lender, and I suspect our biggest obstacle to that is the flirting with relegation the last 3 seasons more so than anything else

I think the biggest obstacle currently is the fact that the Stadium isnt finished.

Once its finished then I suppose we can explore other funding means.

Its getting to December which seems to be our biggest issue.

But you arent wrong, it just depends if MSP want to "buy" 51% of the club for the 400million you mention.

 

[Librarian]

I think the biggest obstacle currently is the fact that the Stadium isnt finished.

Once its finished then I suppose we can explore other funding means.

Its getting to December which seems to be our biggest issue.

But you arent wrong, it just depends if MSP want to "buy" 51% the club for the 400million you mention.

They showed intent already except for R&M thwarted them, they would get 51% for the 160m they’re already owed but would have to get the remaining stadium costs together (whatever that comes to) and your right some sort of bridging funds between now and next Christmas either themselves or invite a 3rd party to join them.

What do you reckon is needed to complete the stadium?