777 Partners / Whatever the hell you like

[Sussex]

Thought that would be the case. Apparently paying over £540k per week on loan repayments as well.

Just don’t get why any potential buyers would put any money in if we were going into administration. They could buy us for buttons afterwards so wouldn’t make any sense to waste money now.

We don't know the true details of agreement of the deal between 777 and Moshi. As have been previously said, Moshi may have structered the deal for payments over certain time deadlines and criteria.

I am viewing the latest loan as a bridging loan. Usually bridging loans attract a higher interest % in a short lending period.

From what we know 777 don't have a particular solid background. They can see a distressed premier league team that is up for sale. If it reaches administration or liquidation, there will be more vultures circling. Some may have a more solid financial background behind them, some may have access to more cash than 777.

777 may see this bridging loan to prevent Everton going into Administration thus attracting more competition later down the line. We don't know how 777 are going to finance this deal. Raising £20m now on the assets it owns is different to raising £100's of millions to cover debts/ongoing cash flow/stadium build further down the line. And that is without providing Dyche with a war chest to challenge for the title.

 

[HalfTimeSayers]

I will continue to hold out hope that Udinese aren’t run terribly, and they wouldn’t effectively loan us £26m (which they can’t afford us to default on). 777 have a vested interest in keeping us afloat, Udinese do not. Can’t see any world where they put their own future at risk to help us solve a striker problem if we are matter of days from cataclysmic implosion.

 

[blulouie]

We are all fully aware the club badly needs a takeover as Moshiri will not put any more money in , it's been quite evident for some time.

I think we are being fed the doomsday scenario to ease the acceptance of 777 taking over.
By the time we get through the FFP investigation and leading up to the acceptance of the deal the fanbase will be clamouring for them to come on board.

IMO Ornstein is about as trustworthy and reliable as they come , my view is he only deals in cold hard facts.
There's plenty out there wildly speculating ( always have done ) and wanting to twist the knife so forgive me for treating them with a large dose of scepticism.

 

[jinkyali]

This was only last week;

Ray of light for cash-strapped Everton as stadium loan lands | TheBusinessDesk.com

Doubts over financial resources of latest suitor

www.thebusinessdesk.com

I suspect it administration is nigh it's because MSP have called in their loan following the announcement of takeover bid from 777 or maybe the 777 loan has triggered them to call it in.

 

[Gordon Lee's Cushion]

If we do go into administration its open market and plenty of people will come to the table to have a chance to acquire us on the cheap.

777 are jumping the que and trying to keep us afloat to stop that and acquire us is my case.

It might suit them to acquire us after we go into administration, which therefore makes sense for them to position themselves at the front of a queue.

 

[Tony’s Carp]

Nonsense - it would definitely have hit the media.

Amazing how these comments only come out after hysteria around the last loan...

Hundreds of staff not being paid, in today’s world the amount of time for that to become common knowledge would be measured in minutes not weeks.

Bursts my brain that when things are as bad as they are certain blues want to make stuff up to make fellow blues even more stressed than we already are, but there’s always one.

 

[Exeter_Gently]

White pants white loafers and white noses in the boardroom. It's going to be unreal.

Be better than having Bill's brown nosers in the boardroom.

 

[Tony’s Carp]

I will continue to hold out hope that Udinese aren’t run terribly, and they wouldn’t effectively loan us £26m (which they can’t afford us to default on). 777 have a vested interest in keeping us afloat, Udinese do not. Can’t see any world where they put their own future at risk to help us solve a striker problem if we are matter of days from cataclysmic implosion.

Udinese, Sporting, MSP, 777, all extended us forms of credit in the last few months.

That we need it is a problem but that we’re getting it is some reassurance.

A lot of twitter experts have decided we’re at death’s door but the people whose job it is to know don’t seem to think so yet.

 

[Dixieslaces]

Udinese, Sporting, MSP, 777, all extended us forms of credit in the last few months.

That we need it is a problem but that we’re getting it is some reassurance.

A lot of twitter experts have decided we’re at death’s door but the people whose job it is to know don’t seem to think so yet.

A small but perhaps not insignificant light in the tunnel, there are some insightful and knowledgeable people on here alone, I sadly am not in that elite group, but that others outside who will better understand the machinations and are asserting that its not all doomsday has to be grasped if at all possible.

 

[siddharth]

The distinction between working capital and infrastructure investments can also justify differences in interest rates, the rumoured 777 standard is 18% while MSP was 10-12% or something.

Additionally, it is weird that 777 who themselves are rumoured to not have too much working capital can loan that very specific amount regularly with their history of late payments.

I suspect that the deal between 777 and Moshiri is already in effect and that Moshiri is merely paying the bills through 777, he might be one of the 'partners'.
This way if the original deal value is 500-550m between Moshiri and 777 and they continue until 'That' day, Moshiri could hold out for 200m from a new buyer and 777's loans can survive the takeover (from which he can cash out later).

Edit: Oh yeah before you call me crazy, for 777, 18% is a considerable interest rate and club probably cannot afford to pay that. So, we may end up converting it into equity and voila we are Sevilla.

 

[AndyRJ]

This was only last week;

Ray of light for cash-strapped Everton as stadium loan lands | TheBusinessDesk.com

Doubts over financial resources of latest suitor

www.thebusinessdesk.com

Yes, but it would seem that the money from MSP has gone straight to LoR to cover money we owed them. So essentially we are straight back to square one, owing regular monthly payments to LoR which exceed our current income. That seems to be confirmed by the reporting of the loan from 777 which is for working capital AND stadium costs.

If there was any of the MSP money left then there would be no need for any further capital injection from 777 or anyone else.

 

[pfim]

Yes, but it would seem that the money from MSP has gone straight to LoR to cover money we owed them. So essentially we are straight back to square one, owing regular monthly payments to LoR which exceed our current income. That seems to be confirmed by the reporting of the loan from 777 which is for working capital AND stadium costs.

If there was any of the MSP money left then there would be no need for any further capital injection from 777 or anyone else.

The story also mentions that the MSP money was funded in tranches from May through August. That money is long gone.

 

[sam17]

It might suit them to acquire us after we go into administration, which therefore makes sense for them to position themselves at the front of a queue.

Not sure why people are still floating this idea around the club being a better option to investors if we go into administration. Admin means an instant 9 point deduction. That would mean almost certain relegation. To get to 35 points would become 44 points. Thats 15 wins from 33 games, which is going to be a huge effort given where we are.

Relegation means a loss of TV revenue and league placement money. Which according to the following is around 60m a season.

How much money does a championship team get for promotion?

According to Deloitte Sports Business Group, reaching the top flight via the Championship play-off final in 2022-23 will earn the winner an increase in revenue of at least £170million across the next three seasons.

Now factor in that if you don't bounce back immediately, the parachute payments reduce, the squad quality reduces, the commercial and gate receipts reduce dramatically.

Even if someone picked the club up for 150m cheaper going into admin, they are banking that we bounce straight back up, otherwise they are worse off.

Admin isn't a good thing for anyone.

 

[GrandOldTeam]

Yes, but it would seem that the money from MSP has gone straight to LoR to cover money we owed them. So essentially we are straight back to square one, owing regular monthly payments to LoR which exceed our current income. That seems to be confirmed by the reporting of the loan from 777 which is for working capital AND stadium costs.

If there was any of the MSP money left then there would be no need for any further capital injection from 777 or anyone else.

So why would the MSP £100m "removes any threat of administration", but a few days later, apparently a £20m loan puts administration back on the table?

I get the terminology around working capital, but money owed is money owed.

The story also mentions that the MSP money was funded in tranches from May through August. That money is long gone.

& this is a good point, and one I made at the time - that money wasn't new and was long known.

 

[Pabbers]

It might suit them to acquire us after we go into administration, which therefore makes sense for them to position themselves at the front of a queue.

Why would they loan us money to stop us going into Admin.....then to want us to go into admin ???