777 Partners / Whatever the hell you like

Revised Polling options on who wants a 777 takeover

  • Total voters
    676
  • Poll closed .
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Neiler said:
It essentially wipes out the debts mate, on paper its about a billion, though Moshiri is never seeing his share holder loans or a return on his investment. The administrator will sell assets to give the creditors pennies on the pound and try and sell the club separately and make it a going concern. Its a reboot for a new owner, a PL club with no debt. Even a championship club with the earning potential of Everton is attractive with no debt. So an Everton without a billion of debt is massively attractive, to investors as opposed to Everton with it - especially if they cant negotiate that debt down now with R&M, MSP and 777.

Its an automatic 9 point deduction, loss of assets - players etc, but a new owner might decide to take on as opposed to a billion of debt. Relegation for one season, is the loss of about 80 mill, thats cheaper then paying back 700 mill - 1 billion. And a new owner backs themselves to recover the asset.

On a community level its horrific as not only the debtors will be stiffed, local suppliers around the City and Merseyside will be, which will put local businesses at risk while many at the club livelihoods will be put at risk.

Not advocating administration in anyway - just my read of the dynamic at play post 777.
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I don't know enough details on UK administration to know if this works over there, but a homeowner in Florida in our position could file Chapter 7, reaffirm the stadium debt, retain any equity untouched, have the remainder of the debt wiped out and lose only the collateral pledged to R&M. That's a massive net win for an investor, a loser for R&M and a huge loser for 777. Given the amount of debt, it would be worth taking a revenue hit in the Championship for a season or three, for the owner.

If an approach like that works under UK law, the creditors are now over a barrel. They have little choice but to agree to some sort of restructuring that beats administration, provided the new owner is well-heeled and creditworthy.
 
BenToffee79 said:
Sooner be told the hard truth about the state of the club than have my head buried in the sand , imagine going after the guy who’s telling you your house is on fire rather than the bloke who caused it
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People do need to let him be and stay civil, but it isn’t helped by attempting to flood social and and now mainstream media with the notion that letting the fire burn a bit longer, letting the house be truly utterly knackered is even an option, so that one’s preferred firefighters can then come and put it out with less water.
 

Neiler said:
It essentially wipes out the debts mate, on paper its about a billion, though Moshiri is never seeing his share holder loans or a return on his investment. The administrator will sell assets to give the creditors pennies on the pound and try and sell the club separately and make it a going concern. Its a reboot for a new owner, a PL club with no debt. Even a championship club with the earning potential of Everton is attractive with no debt. So an Everton without a billion of debt is massively attractive, to investors as opposed to Everton with it - especially if they cant negotiate that debt down now with R&M, MSP and 777.

Its an automatic 9 point deduction, loss of assets - players etc, but a new owner might decide to take on as opposed to a billion of debt. Relegation for one season, is the loss of about 80 mill, thats cheaper then paying back 700 mill - 1 billion. And a new owner backs themselves to recover the asset.

On a community level its horrific as not only the debtors will be stiffed, local suppliers around the City and Merseyside will be, which will put local businesses at risk while many at the club livelihoods will be put at risk.

Not advocating administration in anyway - just my read of the dynamic at play post 777.
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Yes in an administration you are likely to lose all your assets.
That means players and stadia.
The only benefit is if a new buyer comes in and buys Everton as a going concern and does a deal with the creditors
 


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