777 Partners / Whatever the hell you like

[Exeter_Gently]

Why would the 9 points not be this season of we win on Saturday and Luton don't?

We're not going in Adminstration.

 

[Moomin]

We're not going in Adminstration.

I don't think we will but we will be speaking about doing it to try and sort a deal out with RMF, MSP and 777 as it is not in there best interests.

Could only see MSP getting the full amount back if it was to happen.

Stadium sale and us being the tenants is the likely outcome.

 

[MikeH72]

No one has actually said if the 777 deal is dead.

As far as am concerned they are taking over until I hear otherwise.

Where have you heard that they’re taking over, out of interest?

 

[Tony’s Carp]

Why would a potential new investor want to wait to administration, before making an offer ?

Yes the value would be lower, but equally you are then banking on the club overcoming a minus 9 point start next year with a squad which has undergone a fire sale.

If you go down, your new asset loses an extremely high proportion of its value within 12 months of you acquiring it. And administration makes survival next season highly unlikely IMO.

It makes little sense to me.

Esk’s assumption seems to be that a new buyer would be happy to see the entire business gutted, stripped of all its assets, and left drifting into the sporting wilderness for years to come, just to save a few bob on the purchase price. He describes this as sensible.

Obviously the purchase price would be cheaper because what you’d be buying would be in tatters with all the half decent assets out the door. The only would-be investors that surely would want that are ones who can’t afford the club otherwise (his mates?). It’s their only chance to get their hands on the club.

Any investor with the actual means to acquire the club would surely want to do so and at least control the restructuring rather than have the gutting carried out by people with no concern for the long term business.

Sorry, but it is an absolute disgrace that a supposed Evertonian is fuelling all this in the media when the only real beneficiaries would be the worst of vultures. A disgrace.

 

[Lobworm]

The only people who can put a company into administration are the directors and a qualifying floating charge holder if there is one.

So, forgive the ignorance here, under what circumstances would the directors put a company into administration?

 

[blulouie]

Esk’s assumption seems to be that a new buyer would be happy to see the entire business gutted, stripped of all its assets, and left drifting into the sporting wilderness for years to come, just to save a few bob on the purchase price. He describes this as sensible.

Obviously the purchase price would be cheaper because what you’d be buying would be in tatters with all the half decent assets out the door. The only would-be investors that surely would want that are ones who can’t afford the club otherwise (his mates?). It’s their only chance to get their hands on the club.

Any investor with the actual means to acquire the club would surely want to do so and at least control the restructuring rather than have the gutting carried out by people with no concern for the long term business.

Sorry, but it is an absolute disgrace that a supposed Evertonian is fuelling all this in the media when the only real beneficiaries would be the worst of vultures. A disgrace.

Think it's about time the fanbase ( who some I the media think he represents) called him out and rightly put him in his place.

It's a pity there's no one at the club had the cahoonahs to do it.

 

[Moomin]

Esk’s assumption seems to be that a new buyer would be happy to see the entire business gutted, stripped of all its assets, and left drifting into the sporting wilderness for years to come, just to save a few bob on the purchase price. He describes this as sensible.

Obviously the purchase price would be cheaper because what you’d be buying would be in tatters with all the half decent assets out the door. The only would-be investors that surely would want that are ones who can’t afford the club otherwise (his mates?). It’s their only chance to get their hands on the club.

Any investor with the actual means to acquire the club would surely want to do so and at least control the restructuring rather than have the gutting carried out by people with no concern for the long term business.

Sorry, but it is an absolute disgrace that a supposed Evertonian is fuelling all this in the media when the only real beneficiaries would be the worst of vultures. A disgrace.

Administration or not we are going to have to sell a few players.

Unfortunately we have quite a few venture capitalist companies who target distressed businesses and would wait for administration so they can pay a percentage of the debt back rather than the full amount.

 

[Tony’s Carp]

How will we pay our bills at the end of the month if 777 are not providing them anymore and Moshiri won't pay the bills?

This is the endgame we are in now.

Even Esk admits there is enough cash in the business for the short term. He seems to posit going into administration DESPITE being able to pay the bills, which is an unusual move.

The reason I think administration remains unlikely is that, if it had to, the business COULD break even for the year up to the opening of the stadium.

It would be unpleasant and would involve a massive sale of players- for example you could raise c150m from selling Branthwaite, Onana, Pickford, DCL. That’s 55m for completing the stadium and 95m to fund the club. Other players could attract fees if necessary.

In addition to that you have Gana, Gomes and Dele all out of contract, and in addition to those 4 sales you’re likely looking at 30m plus in wage savings, maybe less once replaced on frees and loans but still a big saving.

So even if we’re now looking at an operating loss of 90m that could be both reduced by cutting high earners and covered by the fees received.

It’s not IMPOSSIBLE for the club to tread water and break even, it would just be unpleasant. And since it’s what an administrator would do anyway we’d be better just doing it ourselves.

 

[Moomin]

So, forgive the ignorance here, under what circumstances would the directors put a company into administration?

When they can't pay the bills.

When the outgoings are far higher than the incoming.

 

[Tony’s Carp]

Administration or not we are going to have to sell a few players.

Unfortunately we have quite a few venture capitalist companies who target distressed businesses and would wait for administration so they can pay a percentage of the debt back rather than the full amount.

Absolutely we have to sell players, and as I’ve just posted might be the only way to stave off administration. But the key thing surely is that we COULD.

Yes, some vulture investors would probably prefer to pick us up out of administration but Esk’s assumption seems to be that the club would deliberately act in a way that helps them out with that.

Administration is the enemy of everyone at the club and they will surely do everything necessary to prevent it, no matter how unpleasant. Esk seems to think they will just chuck their hands up and say “oh well, administration for us” as a voluntary measure. Selling players and renegotiating debt isn’t something ONLY administrators can do.

 

[Titus Bramble]

I think I preferred the relegation thread tbh

 

[Tony’s Carp]

Think it's about time the fanbase ( who some I the media think he represents) called him out and rightly put him in his place.

It's a pity there's no one at the club had the cahoonahs to do it.

He should have his season ticket revoked. Oh wait…

 

[PhilEFC]

He should have his season ticket revoked. Oh wait…

Doesn’t he go the match?!

 

[greener]

I know i must sound like a broken record but anyone who thinks that going into administration is an option is a complete and utter tosser to be blunt. Forget about the 9 point deduction because it wouldn't even be the worst factor. How many business do you know that successfully come out of administration? I don't know any. 90% of them fail and some of them are in administration for several years before failing.

There is nothing worse for us than administration, It would be the end of Everton football club.

It's not the best option for sure. Footy Clubs do survive it though.

Portsmouth through a toxic mix of fake sheiks, tax fraud and Harry Redknapp almost managed to bring down the uk economy but have survived. Their current billionaire owners do seem a little wary of spending big bucks for quick rewards though.

 

[Jcr1878]

Serious question though..

What does The Esk actually get out of contributing to articles like that??

He is, actively, scaremongering. Has been for months. Just.. why?

Attention, clicks, engagement, that's what he's always wanted and unfortunately its what he always gets too