777 Partners / Whatever the hell you like

[Toffeepot]

777 sounds more like a casino name

 

[ForeverEverton]

Apologies if already posted..... 777 Portfolio

Genoa 19th in the league, out of 20 teams (In relegation zone)
Sevilla 18th out of 20 (In relegation zone)
Standard Liege 14th out of 16 (In relegation zone)
Red Star 10th out of 18
Vasco de Gama 18th out of 20 teams (In relegation zone)
Melbourne Victory 11th of 12 teams

Early days but a common theme....

 

[Stuartisitc1878]

Apologies if already posted..... 777 Portfolio

Genoa 19th in the league, out of 20 teams (In relegation zone)
Sevilla 18th out of 20 (In relegation zone)
Standard Liege 14th out of 16 (In relegation zone)
Red Star 10th out of 18
Vasco de Gama 18th out of 20 teams (In relegation zone)
Melbourne Victory 11th of 12 teams

Early days but a common theme....

Why are they buying these teams? What’s the goal. They cant be making much money and when you’re down the bottom it’s not like you have assets to strip. I can kinda see why we’re attractive right now with the stadium on the horizon but even then if we go down - which is very possible - we become a total waste of money.

 

[windymiller]

Why are they buying these teams? What’s the goal. They cant be making much money and when you’re down the bottom it’s not like you have assets to strip. I can kinda see why we’re attractive right now with the stadium on the horizon but even then if we go down - which is very possible - we become a total waste of money.

It's weird, it's got to be some sort of scam but for the life of me I can't figure out what it could be.

 

[Lob]

777 sounds more like a casino name

A one armed bandit.

 

[kenada_blue]

Why are they buying these teams? What’s the goal. They cant be making much money and when you’re down the bottom it’s not like you have assets to strip. I can kinda see why we’re attractive right now with the stadium on the horizon but even then if we go down - which is very possible - we become a total waste of money.

Which is the worrying thing. Theyre not making money investing in the clubs. The only assumption is that they have a portfolio of assets which boosts their own lending.

The theme though is that they're buying "sleeping giants" or club's with history and have fallen on tough times

Hence Everton interest. And I do think their holy grail will be getting in with a premier league club.

We'd be prime with the stadium.

 

[pfim]

Ok so based on what you have said above, it is possible that MSP has declined to pay RMFL off or as you say, Moshiri has found a better deal and if that better deal for him is 777, then they are either buying his Majority shareholding, or they will pay for a % shareholding and pay off RMFL. I don’t understand these two things however….

1. Why would could we just not have got the investments in at 25% of shares as opposed to the loan turned equity.It Has been widely reported that certain criteria had to be met for the equity option to kick in. I assume that RMFL have been able to challenge the loan but would not have been able to challenge the equity investment (which suggests to me they wanted to big a share for their investment or they wanted too much influence on the board) and…

2. As others have said, how the bloody hell as it reached this stage without anyone knowing it would be an issue? Alternatively as others have said, have we known about it for some time, but have only just started to release the information in an attempt to manage fan expectations for the remainder of the transfer window? Even though the loan is seemingly going straight to funding the stadium, the repayment terms may be eating into whatever minimal budget we had for players.

It’s all a mess really and amateur hour.

1. The loan to equity gives MSP security against Everton not performing in some manner (relegation, unfinished stadium, leaving Kenwright as chairman...). If Everton do not perform, the debt never becomes equity and has a sunset clause that makes the interest and principal payable by a specific date, but until then continues to accrue interest and gives MSP more security than as a shareholder in the event of an insolvency. RMFL likely wanted MSP or Moshiri to put in some cash as equity, and they refused (or Moshiri/777 used this to scuttle the deal).

2. A lot of work goes into these deals, they fall apart sometimes. The fact that it fell apart doesn't necessarily mean that everyone wasn't aware of the issues surrounding the deal. In terms of the timing, to me that's controlled by MSP. It's they who had to throw in the towel (even if they were lead down that road).

I have said before that this funding should have no effect whatsoever on the football side. Typically there is no repayment or cash interest in these loans until the project is complete (the stadium). The money earns interest, it's accrued on the balance sheet but no cash changes hands.

 

[bluenosedave]

Not sure if already posted but these took over Hertha earlier in the year and oversaw (admittedly already on the cards) relegation from the Bundesliga, a major sell off of players, and Hertha are now bottom of the 2. Bundesliga.

By all accounts they aren't exactly popular with Hertha fans.

 

[BlueStevie35]

Apologies if already posted..... 777 Portfolio

Genoa 19th in the league, out of 20 teams (In relegation zone)
Sevilla 18th out of 20 (In relegation zone)
Standard Liege 14th out of 16 (In relegation zone)
Red Star 10th out of 18
Vasco de Gama 18th out of 20 teams (In relegation zone)
Melbourne Victory 11th of 12 teams

Early days but a common theme....

Worth pointing out that Genoa have played one game this season, Sevilla 2 (same as us), Standard 4, Red Star 2, Vasco are half way through the season and the A League hasn’t re started yet

 

[Tony’s Carp]

Why are they buying these teams? What’s the goal. They cant be making much money and when you’re down the bottom it’s not like you have assets to strip. I can kinda see why we’re attractive right now with the stadium on the horizon but even then if we go down - which is very possible - we become a total waste of money.

Their stated ambition (for however much it can be relied on) is that they want to invest in big / historic / big city catchment type clubs that are essentially on their arse so they can rebuild them towards their potential. Genoa / Seville / Berlin / RS Paris / Vasco / Melbourne and us all fit somewhat within that theme.

In essence I can see the idea behind it as you get into potentially really big clubs at rock bottom prices. And analysing league positions etc doesn't really tell the story as they are buying into those clubs BECAUSE they are struggling. The problem is whether they actually have the knowledge and financial ability to help those clubs, and the more you hear the more it seems they don't.

 

[dockroad]

The only 777's we'll see are the trains

 

[wainy]

Apologies if already posted..... 777 Portfolio

Genoa 19th in the league, out of 20 teams (In relegation zone)
Sevilla 18th out of 20 (In relegation zone)
Standard Liege 14th out of 16 (In relegation zone)
Red Star 10th out of 18
Vasco de Gama 18th out of 20 teams (In relegation zone)
Melbourne Victory 11th of 12 teams

Early days but a common theme....

Well we are already 20th without their help

 

[Blue peter]

1. The loan to equity gives MSP security against Everton not performing in some manner (relegation, unfinished stadium, leaving Kenwright as chairman...). If Everton do not perform, the debt never becomes equity and has a sunset clause that makes the interest and principal payable by a specific date, but until then continues to accrue interest and gives MSP more security than as a shareholder in the event of an insolvency. RMFL likely wanted MSP or Moshiri to put in some cash as equity, and they refused (or Moshiri/777 used this to scuttle the deal).

2. A lot of work goes into these deals, they fall apart sometimes. The fact that it fell apart doesn't necessarily mean that everyone wasn't aware of the issues surrounding the deal. In terms of the timing, to me that's controlled by MSP. It's they who had to throw in the towel (even if they were lead down that road).

I have said before that this funding should have no effect whatsoever on the football side. Typically there is no repayment or cash interest in these loans until the project is complete (the stadium). The money earns interest, it's accrued on the balance sheet but no cash changes hands.

Great stuff….thanks

 

[Billy Dean]

It's weird, it's got to be some sort of scam but for the life of me I can't figure out what it could be.

Could be just the lack of transparency in football. Easy to move money around, extract it from one place to another, store it offshore etc

 

[Weebarra]

Eh? Moshiri is almost entirely responsible for the state of affairs at Everton.

Stadium aside (and even that stands a good chance now of turning into an albatross around our neck) we are in a vastly worse position than when he came in.

Agreed, the clubs been brought to its knees, and let's hope, deliverance to a better place for Everton FC and Evertonians, is going to happen soon.
UTFTs!