Eggsyblueskin
Player Valuation: £40m
GD Luma ( I think I’ve got the name right ) are an investment firm who specialise in ‘distressed assets’ . The main man owns those Cirque de Sol circuses and Ted Boehly is also an investor in them I believe.
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Martin Alvito
Player Valuation: £50m
I crawled around in the Prem's rules a bit. The definitions in the section on the fit-and-proper test require a bit more knowledge of UK statutes than I possess.Rules "appear" to state Clubs.
But its Wiki, so take it or leave it.
The Premier League has tighter restrictions than the Football League or National League. In general, a businessman will fail the test if:
- They have power or influence over another Football League club[8]
- They hold a significant interest in another Football League club[8]
- They become prohibited by law from being a director[8]
- They are filing for bankruptcy[8]
- They have been director of a club while it has suffered two or more unconnected events of insolvency[8]
- They have been a director of two or more clubs of which, while they have been director, has suffered an event of insolvency
Fit-and-proper-person test - Wikipedia
en.wikipedia.org
The declaration for owners and directors in the handbook requires them to explicitly state that they are not a party to a bankruptcy or administration proceeding, whether that's for the parent company or a subsidiary. By that token, Pasko and Wander should both be out already due to the Bonza filing.
If 777 does file for bankruptcy protection, that would clearly be that under the detailed rules laid out in the fit-and-proper section.
HalfTimeSayers
Player Valuation: £35m
We can’t blame the PL and Masters for this. The PL are adhering to the written rules. Until 777 meet one of the criteria for disqualification (which they seem to be trying to do on a daily basis) the PL will keep saying you can still own this club but “show us you have money” literally for all eternity. Forever. And ever. Literally forever. If clubs don’t like the rules, they should have forced and voted a change.
The rules are ineffective as we can all see 777 are not suitable owners. But the PL cannot stop anyone becoming owners of a legal entity. They can say if a football club is owned by those who can’t pass a fit and proper test, the legal entity/club can’t be a member of the PL.
Given the rules are as they are, this mess is entirely due to Moshiri and his maniacal choice, 777.
Eggsyblueskin
Player Valuation: £40m
Do you really think any of this or our situation plays on Moshiri's mind one bit, he just want's rid of us as quickly as poss to the filthiest scum,
but not in a way that could benefit us. the bloke has it in for us and 777 are the perfect answer to making us pay. ( Definitely Bullied as a kid, but since getting into business with 'Usmanov' he's got it in his head that he's some kind of mafia kingpin !!
It has to be 777 in his eyes, he can't do the right thing and sell to an honest company and help the club out, he'll lose any pride, he still believes he carries...
Blue83
Player Valuation: £25m
Reliably informed is my new term for reading websites
Reliably informed.
Bazlar
Player Valuation: £25m
Who?
Martin Alvito
Player Valuation: £50m
In principle, the Prem should be able to deny a prospective owner the right to purchase under the rules. Once the ownership transaction happens, the Prem cannot force them to divest. As you say, the only recourse under the rules is for the Premier League to suspend the club.
What's happening is the Prem's leadership has no interest in testing its ability to deny an ownership transaction in a UK court. It would be expensive to litigate, they might lose, any damages would be substantial and in some way they would have to be levied against the other nineteen clubs. That would result in Masters and his lot getting the sack.
So, instead they throw up barriers and wait for 777 to go away of their own accord. They know it will happen sooner or later, because 777 lent us 200 million they didn't have. 777 needs to cure the problem by selling part/all of the stadium, so all Masters has to do is play for time and wait for cashflow to do the rest.
NathDogg
Player Valuation: £50m
If masters lips are moving then he’s lying.
I don’t believe a word he says in relation to a single thing, especially Everton, and rules be damned, the PL & Dicky should have stepped in and launched these 777 cowboys a long time ago, and held moshiri properly accountable months ago also.
For this entire takeover charade to have dragged on practically the entire season is a disgrace.
I’m amazed the crook is still in a job after the absolute omnishambles he’s made of this season, an unmitigated disaster which has totally damaged the PL brand.
I don’t believe a word he says in relation to a single thing, especially Everton, and rules be damned, the PL & Dicky should have stepped in and launched these 777 cowboys a long time ago, and held moshiri properly accountable months ago also.
For this entire takeover charade to have dragged on practically the entire season is a disgrace.
I’m amazed the crook is still in a job after the absolute omnishambles he’s made of this season, an unmitigated disaster which has totally damaged the PL brand.
That Leadenhall lot seem even more naive than Mosh!
It’s really not that difficult to validate collateral against which you want to lend hundreds of millions of pounds, nor is it a highly guarded secret when a company has liens or who has priority over debts.
Sounds like Wander well and truly pulled their pants down (bit like they seem to be doing to Everton / Mosh)
MikeH72
Player Valuation: £100m
I believe the fit and proper test is a waste of time if they can’t ultimately sell non suitable owners to sod off.
Martin Alvito
Player Valuation: £50m
It's harder than you might think in the U.S., because the note (loan terms) is never a matter of public record. If the collateral is a building, car or other titled object that moves like a plane, sure, that's easy to verify. States keep records on that stuff.
It gets a little dodgy on most anything else. If you put up a $40 million artwork on loan A, I can't see that the way I could if a company in the UK did it. All I have to go on is your word and whatever my friends in the business will quietly, unsourced, cough up.
People don't much double pledge collateral because it's fraud that's easy to prove and results in a jail term, but it does happen. I inherited a problem where someone rooked my predecessor into putting an entire mortgage on a house the guy didn't own, one time.
Yep, the fact that it's as clear as day that they're not fit and proper, yet after 9 months they're still offering 777 hoops to jump through in order to aquire Everton, I think that shows the level of incompetence from how the PL regulate these matters.
Martin Alvito
Player Valuation: £50m
The best part is that they'll probably hide behind, "Well, we're not a regulator," as if the government might give the fox the power to regulate the chicken coop.
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