777 Partners / Whatever the hell you like

[ToffeeTim]

As I say Tim, you are anything but Moshiri.

Its like jumping out of the frying pan into the fire.

If someone could tell me that the club's finances are sustainable, beyond the short term, I would change my opinion.

But I don't see any alternatives. I'm certainly not saying this is a good position to be, in fact quite the opposite. But new ownership as soon as possible is IMO, likely to be the least bad outcome.

It's quite possible that there is no one out there who can fix the club. I think we're all realistic enough to know that's a possibility.

 

[kenada_blue]

Fresh concerns have been raised over 777 Partners, Everton’s prospective new owners, after another of their clubs failed to meet payments on three transfers costing a total of around €5.2m (£4.5m).

Brazilian side Vasco da Gama were hit with a transfer ban by Fifa on Friday after three clubs – Lille, Nacional of Uruguay and Atlético Tucumán of Argentina – notified world football’s governing body that they had not received fees for Léo Jardim, José Luis Rodríguez and Manuel Capasso respectively.


Capasso joined Vasco for €1.4m in February, Rodríguez signed for €1.8m in January and, although the fee for Jardim was undisclosed, Lille were due to receive a reported €2m for their goalkeeper in January.

Vasco, who are 70% owned by 777, missed a deadline to complete payments on all three deals before being sanctioned by Fifa. In a statement, the governing body said: “The club Vasco de Gama is currently prevented from registering new players due to an outstanding debt. The relevant ban will be lifted immediately upon the settlement of the debt being confirmed by the creditor concerned.”

While the Brazilian transfer window is closed until January, giving Vasco time to make the overdue payments and get the ban lifted, their predicament raises more questions over 777’s resources as it attempts to buy Everton from Farhad Moshiri.

The Miami-based company, which was late with a £900,000 payment to the British Basketball League this year, prompting an ongoing investigation by the BBL into its co-owners, needs approval from the Premier League, Football Association and the Financial Conduct Authority to complete its takeover of Everton.

The deal for Moshiri’s 94.1% shareholding is understood to be performance-based, with the British-Iranian billionaire unlikely to get the £500m he was seeking for the club, but 777 still need to provide proof of funding to the Premier League, repay a £140m loan to MSP Sports Capital and secure the approximate £200m required to complete work on Everton’s new stadium at Bramley Moore dock.

The club has outstanding loans in excess of £350m in total, including a recent £20m loan from 777 for short-term working capital, and faces a serious financial crisis unless a takeover proceeds. Moshiri has stopped propping up the struggling Premier League club having invested over £750m for little reward since 2016.

Josh Wander and Steven Pasko, the co-founders of 777, and its CEO, Don Dransfield, were at Goodison Park on Saturday to see Everton lose 2-1 to Luton, their fourth consecutive home league defeat, the club’s worst run from the start of a season at home since 1958. The investment firm currently has seven football clubs in its portfolio – Vasco, Genoa, Sevilla, Hertha Berlin, Standard Liege, Red Star in France and Melbourne Victory.

Yep. All worrying as these aren't even big amounts they're ducking in the scheme of things.

 

[Goat]

Yep. All worrying as these aren't even big amounts they're ducking in the scheme of things.

They are vermin.

But it might be a good thing, these might be the owners that finally rid me of the Everton disease.

 

[scotchbutterpin]

Fresh concerns have been raised over 777 Partners, Everton’s prospective new owners, after another of their clubs failed to meet payments on three transfers costing a total of around €5.2m (£4.5m).

Brazilian side Vasco da Gama were hit with a transfer ban by Fifa on Friday after three clubs – Lille, Nacional of Uruguay and Atlético Tucumán of Argentina – notified world football’s governing body that they had not received fees for Léo Jardim, José Luis Rodríguez and Manuel Capasso respectively.


Capasso joined Vasco for €1.4m in February, Rodríguez signed for €1.8m in January and, although the fee for Jardim was undisclosed, Lille were due to receive a reported €2m for their goalkeeper in January.

Vasco, who are 70% owned by 777, missed a deadline to complete payments on all three deals before being sanctioned by Fifa. In a statement, the governing body said: “The club Vasco de Gama is currently prevented from registering new players due to an outstanding debt. The relevant ban will be lifted immediately upon the settlement of the debt being confirmed by the creditor concerned.”

While the Brazilian transfer window is closed until January, giving Vasco time to make the overdue payments and get the ban lifted, their predicament raises more questions over 777’s resources as it attempts to buy Everton from Farhad Moshiri.

The Miami-based company, which was late with a £900,000 payment to the British Basketball League this year, prompting an ongoing investigation by the BBL into its co-owners, needs approval from the Premier League, Football Association and the Financial Conduct Authority to complete its takeover of Everton.

The deal for Moshiri’s 94.1% shareholding is understood to be performance-based, with the British-Iranian billionaire unlikely to get the £500m he was seeking for the club, but 777 still need to provide proof of funding to the Premier League, repay a £140m loan to MSP Sports Capital and secure the approximate £200m required to complete work on Everton’s new stadium at Bramley Moore dock.

The club has outstanding loans in excess of £350m in total, including a recent £20m loan from 777 for short-term working capital, and faces a serious financial crisis unless a takeover proceeds. Moshiri has stopped propping up the struggling Premier League club having invested over £750m for little reward since 2016.

Josh Wander and Steven Pasko, the co-founders of 777, and its CEO, Don Dransfield, were at Goodison Park on Saturday to see Everton lose 2-1 to Luton, their fourth consecutive home league defeat, the club’s worst run from the start of a season at home since 1958. The investment firm currently has seven football clubs in its portfolio – Vasco, Genoa, Sevilla, Hertha Berlin, Standard Liege, Red Star in France and Melbourne Victory.

Makes for bad reading. Staggering that it has come to this. Surely someone out there can recognise a sleeping giant?

 

[kenada_blue]

They are vermin.

But it might be a good thing, these might be the owners that finally rid me of the Everton disease.

Beaten housewives the lot of us.

And Chairman Bill watched and didn't to a tap to stop it.

 

[pfim]

The premier league is on a different level to all their other clubs. It's clearly not a good sign to miss a payment, but what happens at one of their other teams doesn't necessarily mean it would happen here in the PL with all the additional money that is available in this league.

That's the evidence, man. I don't know what else to tell you. The numbers being larger in the PL just means there is more risk.

 

[brieverton]

In my opinion we are only kicking the can down the road with 777 and delaying the emergence of a financial crisis.

If that's the case, then all we have to "gain" is the completion of the stadium, and no doubt 777 are of the same opinion.

It truly is a grim scenario being bought out by these characters, and desperate that we are desperate to complete, seemingly.

I don't for a second underestimate the seriousness of the situation but still think there would be offers for the club in the event 777 are rejected, which is what I hope happens.

I don't expect it to, though. So its from the furnace into the furnace.

 

[BlueStevie35]

If someone could tell me that the club's finances are sustainable, beyond the short term, I would change my opinion.

But I don't see any alternatives. I'm certainly not saying this is a good position to be, in fact quite the opposite. But new ownership as soon as possible is IMO, likely to be the least bad outcome.

It's quite possible that there is no one out there who can fix the club. I think we're all realistic enough to know that's a possibility.

What’s doing my head in is the constant foot stomping and almost gleeful exuberance from some every time a negative article comes out about 777 but the same energy gets lost every time someone suggests a protest against the board/Moshiri like has been for the past 2 years

People thinking some Sugar Daddy from the Middle East or Asia is gonna swoop in and solve every thing while the club is looking a clown show on and off the pitch because of Moshiri, his ridiculously high valuation and his cronies led by the worst chairman in history

777 as a company may be shady yes, but they also have two people on board who’ve worked behind the scenes in high roles at the current Treble winners and one of our relegation rivals last year which would be a massive step up from a charity leader and and ex player

 

[Market trader]

The link to the FCA describes the procedure which companies in the areas covered by the FCA, insurance for example, need to employ to ensure that any potential new staff are fit and proper persons. As company HR departments can't search social media data there exist specialist firms which carry out the process to produce the necessary findings.

For a company seeking to start trading in these areas the certification period by the FCA is between six months and a year.

FCA will, I am sure, not rely on information solely from 777 Partners...

 

[Zatara]

Tbf, all he says here about 777 is that he doesn't think they're the right people without ever really backing up why he thinks that. I'm sure the guy has his reasons, but he penned about 2000+ words there just saying all the problems the club has that we already know and nothing compelling about why we shouldn't sell to 777.

This is what I was discussing last week about getting answers.....777 won't be allowed to discuss anything Everton related until the takeover is complete and they won't be divulging any sensitive information until it has been completed.

No one is getting an inside scoop on what their plans are, how they're funding the takeover, money involved etc until it's all completed.

Great that Dransfield has had generic conversations with fan groups, but nothing has been said that isn't already out in the public domain and I'd imagine that's exactly how it will stay until the takeover is complete (or rejected)

For me, its perfectly fine to promote that you are meeting with people. Its also perfectly fine not to divulge anything.

I may have misread but the way Esk portrayed it was that he would be asking a set of questions and would provide the answers after the meeting.

Instead it was a bit at the end of a ramble (which we already know) with his own opinion -- no good.

Saw this last night.

I think Dave is truly tremendous and I also think in 777, CEO Don Dransfield is a very clever and smart asset something I wish Moshiri did when he bought us years ago.

I think the multi club model is interesting however I am glad we will be the big fish in their pond but I fear for the other clubs who don't have access to the money we receive but that could change if we are relegated.

I worry about the money aspects and what will be the debt layed onto the club plus where it comes from. Also no word on Chairman Bill which again worries me.

Ideally, we are sold to a group/owner who will appoint the best people to gain the most for Everton in every level - boardroom to pitch. But politics aside, we would require a Saudi/Dubai/Qatari level to really achieve this.

I hope there is a group out there to save us from Moshiri, Bill and vultures like 777

I judge them on their extensive history of past and present business dealings , and on that they are an untrustworthy group I wouldn’t touch with a barge pole.
I am surprised you haven’t even made your self aware of the Genoa issue , but I didn’t say people were forced to do anything , rather they are being conned. Confidence tricksters don’t force you to do anything , they convince you to act in their interests believing they are your interests also.
Ultimately, I think they are vultures who will pick our bones clean , and there has been no evidence to the contrary throughout this debate.
You are basing your acquiescence of their bid on blind faith as far as I can tell, by refusing to examine their record or question their motives.
I still suspect they will not pass the fit and proper persons test , surely any group who continually fail to pay their bills cannot be allowed to own a PL club, especially under the toughened tests ?
We will see I suppose.

I wonder if they were able to get the deal over the line, could they then launch a separate fund which would hold its own equity in the club -- that would entice investors once debts were cleared and could propel the balance sheet into something competitive.

Thats interesting.

I’m not sure the owners exist who could satisfy esk’s demands- he clearly has a realistic view of the world of finance but a weird misty eyed view of football ownership that someone with the money required to own the club is going to take over for the sole good of the club and not for their own enrichment, that sadly these days is nigh on impossible.

What he’s looking for is a gentleman billionaire with a heart of gold and a Goodison season ticket since birth and they don’t exist.

Good ebening toffees

Taps nose

lol

Think he was angling for MSP as they have links to Bahrain and seem a bit more used to working in sport than 777, they just didn't want to pay Moshiri's price, they were looking at alot less hence just the loan.

Possibly, though i think MSP were concerned with the whole 'rights and media' influence on decision making and huge interest.

 

[Zatara]

What’s doing my head in is the constant foot stomping and almost gleeful exuberance from some every time a negative article comes out about 777 but the same energy gets lost every time someone suggests a protest against the board/Moshiri like has been for the past 2 years

People thinking some Sugar Daddy from the Middle East or Asia is gonna swoop in and solve every thing while the club is looking a clown show on and off the pitch because of Moshiri, his ridiculously high valuation and his cronies led by the worst chairman in history

777 as a company may be shady yes, but they also have two people on board who’ve worked behind the scenes in high roles at the current Treble winners and one of our relegation rivals last year which would be a massive step up from a charity leader and and ex player

Who are the 2 board members? Why did they join 777 do you think and how have they improved their current club stable?

One thing i will say, is certain types of shady characters tend to have imaginative ways to generate investment from all sorts of places.

Im against it as theres currently no evidence in front of me to be positive.

 

[chippy1722]

What’s doing my head in is the constant foot stomping and almost gleeful exuberance from some every time a negative article comes out about 777 but the same energy gets lost every time someone suggests a protest against the board/Moshiri like has been for the past 2 years

People thinking some Sugar Daddy from the Middle East or Asia is gonna swoop in and solve every thing while the club is looking a clown show on and off the pitch because of Moshiri, his ridiculously high valuation and his cronies led by the worst chairman in history

777 as a company may be shady yes, but they also have two people on board who’ve worked behind the scenes in high roles at the current Treble winners and one of our relegation rivals last year which would be a massive step up from a charity leader and and ex player

The fact that only a supposedly dodgy organisation wants us, shows how unappealing we are in the football world.
I have no interest in reading about 777 myself, in reality there is nothing the fans will really be able to do about it.
We had a fraud who the fans loved for 20 years, we had someone spend hundreds of millions who the fans hated.
We don’t have the right to tell Moshiri who to sell to when we spent months forcing him out.

 

[kenada_blue]

The link to the FCA describes the procedure which companies in the areas covered by the FCA, insurance for example, need to employ to ensure that any potential new staff are fit and proper persons. As company HR departments can't search social media data there exist specialist firms which carry out the process to produce the necessary findings.

For a company seeking to start trading in these areas the certification period by the FCA is between six months and a year.

FCA will, I am sure, not rely on information solely from 777 Partners...

They'll get references.

If you think theyll send a task force to go over what they submit, you'll be very much mistaken.

If they submit what they need and pass the criteria, they'll get through without a hitch.

 

[pfim]

What’s doing my head in is the constant foot stomping and almost gleeful exuberance from some every time a negative article comes out about 777 but the same energy gets lost every time someone suggests a protest against the board/Moshiri like has been for the past 2 years

People thinking some Sugar Daddy from the Middle East or Asia is gonna swoop in and solve every thing while the club is looking a clown show on and off the pitch because of Moshiri, his ridiculously high valuation and his cronies led by the worst chairman in history

777 as a company may be shady yes, but they also have two people on board who’ve worked behind the scenes in high roles at the current Treble winners and one of our relegation rivals last year which would be a massive step up from a charity leader and and ex player

What happens when we don't pay Beto's fees and we're under a transfer ban?

I don't care how they made their money, or what their companies do, or who they are or how they want to monetize the club.

The only thing I care about is that they have the financial backing to finish the stadium and keep the club in the PL.

There are several examples of these guys missing payments. So yes, it can be worse than Moshiri. At least Moshiri still has skin in the game.

 

[ForeverBlue92]

What happens when we don't pay Beto's fees and we're under a transfer ban?

I don't care how they made their money, or what their companies do, or who they are or how they want to monetize the club.

The only thing I care about is that they have the financial backing to finish the stadium and keep the club in the PL.

There are several examples of these guys missing payments. So yes, it can be worse than Moshiri. At least Moshiri still has skin in the game.

Even though its ended on a sour note, financially we've never wanted for anything under Moshiri/Usmanov.

£500m+ for players
World class stadium being pretty much paid for by Usmanovs companies.

The Ukraine war sadly put an end to that. A lot of the Sir Farhad haters are going to be in for a shock when 777 take over. Be like going from eating fillet steak to a Mcdonalds happy meal.