777 Partners / Whatever the hell you like

[Tony’s Carp]

I genuinely wonder how close we are to administration? Surely that’s a very real possibility now?

Things are grim and all these loans we are taking out are a massive problem BUT it would be a worse sign if no one was willing to give us the loans. If we were on the brink then MSP / R&M / 777 surely wouldn’t be taking the risk.

 

[barneygumble]

18% per year at £100m, we’re finished.

Just sign the stadium over now. Save the agony of the pointless repayments.

 

[Neiler]

So they can take control of it.

If the club defaults mate...to its new owners....we will also be paying our owners interest by the look of it.

 

[Ferguson1878]

It comes down to the stadium.

I keep hearing people say “We shouldn’t have done the stadium”.

But hindsight is a marvellous thing. The whole funding was run by Usmanov really, he was going to sponsor the thing, he snook £30m into the accounts by signing a “first rights” to naming the stadium.

Who would have predicted Russia going to war and our backer being sanctioned? No one. The cruel twist of irony being, him being indicted meant no further money, but equally the cost of living crisis where our steel, gas, anything from the stadium probably would had been supplied by his own companies was forbidden.

Costs spiralled, we can’t keep up, and the coughers are dry.

mate but even before the war in ukraine benitez first season we spent next to nothing so something was going on even back then

 

[windymiller]

They must know that they'll never see that money back? Our cashflow is in the gutter, so if they're charging 18% on "tens of millions" how do we not default? I don't understand 777s business model at all.

 

[m hart89 efc]

Absolutely it is.

Someone I work with mentioned administration to me months ago before the last set of accounts came out and I thought they were just waffling.

 

[efcfanwirral]

It comes down to the stadium.

I keep hearing people say “We shouldn’t have done the stadium”.

But hindsight is a marvellous thing. The whole funding was run by Usmanov really, he was going to sponsor the thing, he snook £30m into the accounts by signing a “first rights” to naming the stadium.

Who would have predicted Russia going to war and our backer being sanctioned?

I think it was a pretty fair bet that either Iran or Russia would come under sanctions at some point. My bet at the time would've been Iran but it was madness to gamble the future of the club on two people from those two countries

 

[Eggsyblueskin]

It comes down to the stadium.

I keep hearing people say “We shouldn’t have done the stadium”.

But hindsight is a marvellous thing. The whole funding was run by Usmanov really, he was going to sponsor the thing, he snook £30m into the accounts by signing a “first rights” to naming the stadium.

Who would have predicted Russia going to war and our backer being sanctioned? No one. The cruel twist of irony being, him being indicted meant no further money, but equally the cost of living crisis where our steel, gas, anything from the stadium probably would had been supplied by his own companies was forbidden.

Costs spiralled, we can’t keep up, and the coughers are dry.

Perhaps , but the invasion and occupation of Crimea happened earlier and maybe should have alerted us , especially as Usmanov was named by the UN of being complicit in aiding that invasion.
Hindsight is wonderful , but foresight is far more valuable.
Don’t lose sight of that fact as a far nastier and more rapacious set of vultures are about to alight on our dying club and engorge themselves on what’s left .

 

[Tommy Chong]

At 18%? That's tantamount to daylight robbery. Ridiculous rate.

 

[GrandOldTeam]

Al saying 777 loan is for 10’s of millions.

If so we’ll need more debt for the stadium.

That's what Ornstein said mate - tens of millions. "it can be revealed that 777 has already made a payment worth tens of millions" Myers hasn't added anything.

 

[Ferguson1878]

Someone I work with mentioned administration to me months ago before the last set of accounts came out and I thought they were just waffling.

a few people have said it over the past few months but because it’s such a minefield and we get silence from the club no one knows what’s going on

 

[Moomin]

They must know that they'll never see that money back? Our cashflow is in the gutter, so if they're charging 18% on "tens of millions" how do we not default? I don't understand 777s business model at all.

Sounds a bit like how the Mafia works.

 

[barneygumble]

mate but even before the war in ukraine benitez first season we spent next to nothing so something was going on even back then

Slightly different that mage.

That was on FFP, cause we spent millions on absolutely nothing.

The stadium costs don’t come into FFP, so wouldn’t have impacted us in transfer market.

 

[barneygumble]

I think it was a pretty fair bet that either Iran or Russia would come under sanctions at some point. My bet at the time would've been Iran but it was madness to gamble the future of the club on two people from those two countries

Hindsight, I tbink that’s probably a fair shout mate.

I personally think that’s why Moshiri became the chairman, knowing he wouldn’t get sanctioned, over Usmanov.

Looks like they knew what was coming. Sadly for us, we jumped into bed with them.

 

[blueblue]

Skint asset strippers lad lad lad

What assets?
Any asset stripper who thinks they will make a quick return on Everton FC is in for a very nasty shock.

The real money in football is in the capital gain when an owner eventually sells their share in the club.

Look at the value of the more successful clubs.... they are fetching several billion.

Obviously the difficult part is to take a stagnating club and make it successful... Moshiri found that out the hard way.