777 Partners / Whatever the hell you like

[Terrarian]

The major mitigating circumstance was us being owned illegally by a Russian oligarch and bankrolled pretty much entirely from his back pocket. That is no way to run a business. It’s not hard luck, Moshiri has brought this on us.

I'm not disagreeing Mike but they were happy pumping money in until told they weren't allowed. Doesn't excuse the mismanagement of funds though, we've been well and truly bent over and rogered from behind by the league.

 

[nsno-chris]

I've just messaged 777 and asked for a meeting.

Want them to make a drastic change and replace Z Cars with Wacko Jacko's hitsong " Heal the World "

Will soothe the fans a bit before the rage takes over.

Did you tell them @The Esk will be joining you; that’s a guaranteed in

 

[jazzy]

The major mitigating circumstance was us being owned illegally by a Russian oligarch and bankrolled pretty much entirely from his back pocket. That is no way to run a business. It’s not hard luck, Moshiri has brought this on us.

Ironically if we had been upfront about our ownership we would almost certainly have been ordered by the Gvmt to sell ( like Abramovich) and potentially now be in a far better position.

 

[nsno-chris]

The major mitigating circumstance was us being owned illegally by a Russian oligarch and bankrolled pretty much entirely from his back pocket. That is no way to run a business. It’s not hard luck, Moshiri has brought this on us.

Especially when the CEO doesn’t even try and improve the business, but rather phone up daddy for some more cash

 

[Jay]

Do you honestly believe this? Take the blue tinted specs off. Could the PL honestly given a flying one if one of their members go into administration and if, as you say, the PL cannot afford for a club to go into administration what do you think they would do to help Everton?

What domino effect will happen? Genuine question. Not sure what Everton owe other football clubs for transfers? Do we buy our players and spread the payments over 5, 7 or 10 years?

We go into administration, accountants come in, pick over the bones. Fire sale of players in January?? We wont be getting top dollar for the majority of our players?

How economical collapses happen around the World? One bank in a country defaults for whatever reasons (something like a stupid owner for example), people start panicking and start withdrawing their money from other banks, now all the other banks start struggling because thousands of people trying to withdraw in the same time, that's the domino effect.

The premier league is the richest league in the world, an industry worth billions of $s and advertised globally as a market to invest in, the last thing the league and other clubs will want is a panic situation where investors will say look at what happened to Everton, it can happen with the club we are invested in

 

[MikeH72]

I'm not disagreeing Mike but they were happy pumping money in until told they weren't allowed. Doesn't excuse the mismanagement of funds though, we've been well and truly bent over and rogered from behind by the league.

We’ve been bent over and rogered from behind by Farhad Moshiri. He’s been the worst thing to ever happen to this club alongside Kenwright who sold the club to the criminal charlatan himself.

 

[Sussex]

What’s the clubs monthly turnover £180 million ? That’s 15 million a month if we break even with payments going out but cash flow is critical . They will have already had the season ticket money for this season so not much coming in though the gates . If we are borrowing for day to day costs then that means that cash has gone and only tv money and sponsorships ( has that been paid yet ) . Given all that we need £15 million a month to survive and £15 million a month to keep BMD on track then the future of this club is in grave danger

We already had the tv money in effect. We took out a loan from Rights and Media on the upcoming TV payments.

 

[chippy1722]

As we’ve suspected and speculated on here.

Exactly the same as what Bill done when he took loans from his mates secured against future tv money.

 

[Terrarian]

We’ve been bent over and rogered from behind by Farhad Moshiri. He’s been the worst thing to ever happen to this club alongside Kenwright who sold the club to the criminal charlatan himself.

Ok, we're going round in circles here, I do agree with you btw just offering other circumstances.

 

[nsno-chris]

I'm not disagreeing Mike but they were happy pumping money in until told they weren't allowed. Doesn't excuse the mismanagement of funds though, we've been well and truly bent over and rogered from behind by the league.

Nah we haven’t.

The club spent money they didn’t have; it’s how all business go bust. The issue is the complete corporate negligence; it was the CEO and boards job to increase commercial revenue to bridge the gap. No phoning Russia for another cheque

 

[Terrarian]

Oh crikey I'm being tag teamed by Statler and Waldorf here lol

 

[Moomin]

Exactly the same as what Bill done when he took loans from his mates secured against future tv money.

We have done that as well this time with Bill's mates.

 

[Martin Alvito]

Might this not be a play by the club to the FA / Premier League to effectively say "if you turn down 777 as new owners there's nowhere else for us to turn".

Of course it is. I doubt the other nineteen owners are stupid enough to buy that claim. Hicks and Gillett ended up taking a hundred million pounds less in a forced sale after their original buyer backed out.

The problem isn't that 777 is the only taker. It's that they're the only taker at this price. Moshiri probably would have to cut the price more deeply to attract a reputable buyer. His lenders and the Prem have the option of making that his problem.

 

[Sussex]

How economical collapses happen around the World? One bank in a country defaults for whatever reasons (something like a stupid owner for example), people start panicking and start withdrawing their money from other banks, now all the other banks start struggling because thousands of people trying to withdraw in the same time, that's the domino effect.

The premier league is the richest league in the world, an industry worth billions of $s and advertised globally as a market to invest in, the last thing the league and other clubs will want is a panic situation where investors will say look at what happened to Everton, it can happen with the club we are invested in

Not sure your banking analogy works here but I will play along. The icelandic banking collapse happened a few years ago and one of the banks owner owned West Ham. They got out of their diffculties. Again, a club in financial distress. Sullivan and Gold saw that and pounced (also saw that Olympic stadium). Would we accept Sullivan and Brady over Moshi (Usmanov). 777 can see us like Gold and Sullivan saw West Ham.

But back to your banking thinking. So we collapse and other PL teams panic and start demanding the outstanding debts on players bought from other clubs. And then in turn, these clubs do the same and call their debts in. I think you are knicker wetting here. Us going belly up, is not going to start a domino effect in the footballing world. Other footballing clubs have gone into administration/liquidation and the football world is still buying and selling players at ridiculous prices and no domino effect happened.

Not sure the PL give a flying one about us to be honest. They have a queue of 24 teams at least trying to get into the PL each season. If you are investor in a PL football club, you make sure you do your due diligence so that you are either going to make a return on your money or at the very least get your money back. If you want to get into bed with Moshi and his ilk, be prepared you might get your fingers burnt. Our accountants saw that, and did a very quick runner.

 

[Tramps_mate]

The RS went into administration years ago the Premier League just ignored it.

Yep, RBS were very close to closing them down...