777 Partners / Whatever the hell you like

[Exeter_Gently]

when the deal was announced, Moshiri said “The stadium is fully funded” this loan is clearly to finish the stadium funding.

The R&M thing is probably the final piece of the stadium funding, don’t think it’s as bad as everyone making out

Dunno mate...we seem to be on a sticky wicket at the minute. We also seem to have turned back into Everloan...but not the good type.

 

[Exeter_Gently]

We have taken loans to keep the lights on and keep ticking over before we are "taken over"

I am praying that 777 have a buyer/big fish investors lined up to sell on like Staveley with Newcastle.

Either that or Putin dies.

Think the russian oligarch thing has sailed now kind sir.

 

[MACCA75]

Starting to build a stadium without the funding in place always seemed like madness to me.

 

[Toffeelover]

Wonder if our debtor's will prevent a sale to anyone at all, even super rich new owners ? Same time can't help feeling glad that they are refusing Moshiri the right to sell us to these Vultures. See it a mile away hardly any investment or any at all and if they can get through to the stadium being finished and we are, by some miracle still in the prem sell us on for a massive profit. We could look a much better prospect in two years.Kenwright is amazingly quiet while this shitshow has gone on and no one asking him any questions either, just be really ill...

Spot on Mate

 

[wainy]

Finished aren't we?

 

[Exeter_Gently]

Starting to build a stadium without the funding in place always seemed like madness to me.

I don't think it would have been an issue with the Big Fella in the back ground...Ukraine war put a fly in the ointment,Kind Sir.

 

[maccavennie]

Just who does this crackpot think he is?? Absolutely staggering.

That is comedy gold right there!

 

[hallamblue]

777 akin to legalised loan sharks.

Moshi deserves all he is getting. He put us in this ridiculous situation. 95% wage bill of turnover. Now he either has turned the tap off to the endless millions he had access to or the put has run dry (or both). He is scrapping around for a way out and for him to get "something" once this is all done. The most recent loan (how many loans do we have?) is to do with cashflow. Short term fix. Sharks are circling and potentially can see a kill here.

777, if they can pass the fit and proper persons test, will just convert the debt to equity upon sale completion. Or, whatever the rate % they are lending at, they can see them either getting the club cheaper or getting their money back. Chancers, legalised loan sharks.

If they do get their hands on us, then what, somehow find and raise cash to finish the stadium. Then flip us for a tidy sum. The next five years ain't going to be pretty.

Yep there are a number of teams who've gone through this in the last few years, which is why they've tightened up the rules first in the EFL and now the EPL to stop people owning clubs who can't afford it. Personally I just want us to finish the stadium, as I feel that's vital for the long term future of the club. I think the most likely scenario is administration, the question being can we stave it off long enough to finish the ground? I suppose the question y, who gets what when we go bust? The training ground, Goodison etc and the new stadium will all go to creditors, but there may be a scenario where Andy Bell and his partners could buy the "club" for very little, and then buy the ground from a lender as well and rebuild from the 3rd division or wherever we end up. I know that sounds terrible to some, but I'd rather be in the 3rd division owned by people who want the best for the club than in the Championship paying all of our money to some legalised loan sharks with no long term prospects.

 

[GrandOldTeam]

Might come across a bit thick here, but can the the minority shareholders stop it going through?

I think the only thing that can stop it at this stage;

"Closing of the transaction is expected to occur in the fourth quarter of 2023 and remains subject to regulatory approval, including from the Premier League, the Football Association, and the Financial Conduct Authority"

 

[EFC_FRANCIS]

I'm not sure why anyone would want this takeover stopped. They're the only willing buyer and we are 10 mins from administration

 

[Ferguson1878]

Might come across a bit thick here, but can the the minority shareholders stop it going through?

i think we might need it to go through otherwise we won’t be able to keep the club running going off what was getting said last night

 

[micknick]

Feels like Vultures circling a dying prey.

Pick whatever meat is left on the starved animal and then discard.

 

[Moomin]

The stadium now funded

It's not.

 

[Tony’s Carp]

I'm not sure why anyone would want this takeover stopped. They're the only willing buyer and we are 10 mins from administration

Unfortunately true. As I saw someone else point out, 777 are the second worst thing that could happen to Everton. But the worst is what’s already happening.

 

[Exeter_Gently]

Esk is going full Partridge here ha.