777 Partners / Whatever the hell you like

[Toffeelover]

From 777 -

The opportunity to potentially assume ownership of Everton Football Club is one of the most profound we will have, both as investors and individuals. We approach it knowing we would carry the immense responsibility of 145 years of history and as a founding member of the Football League and Premier League. Throughout Everton’s history, the one constant has always been the people behind The People’s Club. It is, with that appreciation and awareness, that I write to you directly for the first time.



We recognise that change can be unsettling. We also acknowledge that there have been a number of misleading and concerning reports in media which have created a perception of instability and unrest around our proposed purchase. Rest assured, in this case, that the truth is far more boring than the fiction.



At 777 Partners, we have a team of more than 3,000 employees who have worked hard to build relatively conventional but profitable finance and insurance businesses that enabled us to invest and build positions in more exciting industries such as aviation and sports. Not all of our 60 businesses will be profitable at any one time, but the fundamental underlying business performance of the 777 Group is strong.



777 is not a typical private equity firm that purchases large healthy businesses with third party capital. We have had entrepreneurial success through building businesses from scratch - or acquiring businesses in poor condition and transforming them. Similarly, we have applied these principles to the football industry. We currently control four clubs directly: Genoa in Italy, Standard Liège in Belgium, Vasco Da Gama in Rio de Janeiro in Brazil, and Red Star in France. At each of these clubs, we have improved sporting results meaningfully while reducing costs and increasing player value. Our success both on and off the pitch is clear to see.



After productive meetings with Kevin Thelwell, Sean Dyche and club officials in the last few weeks, we understand the current position of the club better, and how we can be most helpful to fix some of the underlying issues. We need to be clear – there will be no magic wand, nor quick fixes – the path to creating a sustainable business that then translates into on pitch success is laid with hard work and difficult decisions. Our background is in building successful businesses; holding and investing in them for the long term. All 777 portfolio companies benefit from a shared service model where they can access best-in-class resources from the holding company. That’s the approach we take across all our clubs at 777- with central shared resources for player recruitment, data analytics, and commercial development. The global football business and sports economy are evolving and we have a strong conviction our commercial strategies will give us a competitive advantage and enhance your experience as fans.



In the weeks since the announcement, our team has had productive dialogue with representatives of official Everton fan groups, and other stakeholders connected to the club. We are actively engaged in a number of regulatory processes with the Premier League and others to approve our purchase from Mr. Moshiri. We are confident approval will be granted without issues, but we understand the process could take several months. These processes need to be given time to run their proper course, and should not be conducted through the media. It's not appropriate to speak publicly about these processes at this time, but when the time is right, we will do so.



Today, football clubs are much more complicated businesses than ever before, while remaining vital community assets. But there is one eternal truth - we need to win matches. We can’t promise you that will happen immediately. We can promise you that we will instil a culture that demands and inspires two things: effort and accountability. That starts with Steve and I and includes every member of the organisation. We will seek to earn your approval through effort and accountability, creating a sustainable business and by putting a team on the pitch that respects the club’s proud heritage and reflects the character of the people who support it.



As Alan Ball famously said, “Once Everton has touched you, nothing will be the same”. Though our time on Merseyside has been brief, we feel that to be true. We also know that more of the same is not enough. Nothing but the best will do for Everton. On behalf of 777, Steve and I commit to work relentlessly to that end.



Josh

Flannel.

 

[BlueStevie35]

From 777 -

The opportunity to potentially assume ownership of Everton Football Club is one of the most profound we will have, both as investors and individuals. We approach it knowing we would carry the immense responsibility of 145 years of history and as a founding member of the Football League and Premier League. Throughout Everton’s history, the one constant has always been the people behind The People’s Club. It is, with that appreciation and awareness, that I write to you directly for the first time.



We recognise that change can be unsettling. We also acknowledge that there have been a number of misleading and concerning reports in media which have created a perception of instability and unrest around our proposed purchase. Rest assured, in this case, that the truth is far more boring than the fiction.



At 777 Partners, we have a team of more than 3,000 employees who have worked hard to build relatively conventional but profitable finance and insurance businesses that enabled us to invest and build positions in more exciting industries such as aviation and sports. Not all of our 60 businesses will be profitable at any one time, but the fundamental underlying business performance of the 777 Group is strong.



777 is not a typical private equity firm that purchases large healthy businesses with third party capital. We have had entrepreneurial success through building businesses from scratch - or acquiring businesses in poor condition and transforming them. Similarly, we have applied these principles to the football industry. We currently control four clubs directly: Genoa in Italy, Standard Liège in Belgium, Vasco Da Gama in Rio de Janeiro in Brazil, and Red Star in France. At each of these clubs, we have improved sporting results meaningfully while reducing costs and increasing player value. Our success both on and off the pitch is clear to see.



After productive meetings with Kevin Thelwell, Sean Dyche and club officials in the last few weeks, we understand the current position of the club better, and how we can be most helpful to fix some of the underlying issues. We need to be clear – there will be no magic wand, nor quick fixes – the path to creating a sustainable business that then translates into on pitch success is laid with hard work and difficult decisions. Our background is in building successful businesses; holding and investing in them for the long term. All 777 portfolio companies benefit from a shared service model where they can access best-in-class resources from the holding company. That’s the approach we take across all our clubs at 777- with central shared resources for player recruitment, data analytics, and commercial development. The global football business and sports economy are evolving and we have a strong conviction our commercial strategies will give us a competitive advantage and enhance your experience as fans.



In the weeks since the announcement, our team has had productive dialogue with representatives of official Everton fan groups, and other stakeholders connected to the club. We are actively engaged in a number of regulatory processes with the Premier League and others to approve our purchase from Mr. Moshiri. We are confident approval will be granted without issues, but we understand the process could take several months. These processes need to be given time to run their proper course, and should not be conducted through the media. It's not appropriate to speak publicly about these processes at this time, but when the time is right, we will do so.



Today, football clubs are much more complicated businesses than ever before, while remaining vital community assets. But there is one eternal truth - we need to win matches. We can’t promise you that will happen immediately. We can promise you that we will instil a culture that demands and inspires two things: effort and accountability. That starts with Steve and I and includes every member of the organisation. We will seek to earn your approval through effort and accountability, creating a sustainable business and by putting a team on the pitch that respects the club’s proud heritage and reflects the character of the people who support it.



As Alan Ball famously said, “Once Everton has touched you, nothing will be the same”. Though our time on Merseyside has been brief, we feel that to be true. We also know that more of the same is not enough. Nothing but the best will do for Everton. On behalf of 777, Steve and I commit to work relentlessly to that end.



Josh

This was from Saturday Joey, it’s not new

 

[Eggsyblueskin]

Or bullcrap

I am fairly certain bullcrap is of more value, as fuel or manure.

 

[Moderatelywarmwater]

From 777 -

The opportunity to potentially assume ownership of Everton Football Club is one of the most profound we will have, both as investors and individuals. We approach it knowing we would carry the immense responsibility of 145 years of history and as a founding member of the Football League and Premier League. Throughout Everton’s history, the one constant has always been the people behind The People’s Club. It is, with that appreciation and awareness, that I write to you directly for the first time.



We recognise that change can be unsettling. We also acknowledge that there have been a number of misleading and concerning reports in media which have created a perception of instability and unrest around our proposed purchase. Rest assured, in this case, that the truth is far more boring than the fiction.



At 777 Partners, we have a team of more than 3,000 employees who have worked hard to build relatively conventional but profitable finance and insurance businesses that enabled us to invest and build positions in more exciting industries such as aviation and sports. Not all of our 60 businesses will be profitable at any one time, but the fundamental underlying business performance of the 777 Group is strong.



777 is not a typical private equity firm that purchases large healthy businesses with third party capital. We have had entrepreneurial success through building businesses from scratch - or acquiring businesses in poor condition and transforming them. Similarly, we have applied these principles to the football industry. We currently control four clubs directly: Genoa in Italy, Standard Liège in Belgium, Vasco Da Gama in Rio de Janeiro in Brazil, and Red Star in France. At each of these clubs, we have improved sporting results meaningfully while reducing costs and increasing player value. Our success both on and off the pitch is clear to see.



After productive meetings with Kevin Thelwell, Sean Dyche and club officials in the last few weeks, we understand the current position of the club better, and how we can be most helpful to fix some of the underlying issues. We need to be clear – there will be no magic wand, nor quick fixes – the path to creating a sustainable business that then translates into on pitch success is laid with hard work and difficult decisions. Our background is in building successful businesses; holding and investing in them for the long term. All 777 portfolio companies benefit from a shared service model where they can access best-in-class resources from the holding company. That’s the approach we take across all our clubs at 777- with central shared resources for player recruitment, data analytics, and commercial development. The global football business and sports economy are evolving and we have a strong conviction our commercial strategies will give us a competitive advantage and enhance your experience as fans.



In the weeks since the announcement, our team has had productive dialogue with representatives of official Everton fan groups, and other stakeholders connected to the club. We are actively engaged in a number of regulatory processes with the Premier League and others to approve our purchase from Mr. Moshiri. We are confident approval will be granted without issues, but we understand the process could take several months. These processes need to be given time to run their proper course, and should not be conducted through the media. It's not appropriate to speak publicly about these processes at this time, but when the time is right, we will do so.



Today, football clubs are much more complicated businesses than ever before, while remaining vital community assets. But there is one eternal truth - we need to win matches. We can’t promise you that will happen immediately. We can promise you that we will instil a culture that demands and inspires two things: effort and accountability. That starts with Steve and I and includes every member of the organisation. We will seek to earn your approval through effort and accountability, creating a sustainable business and by putting a team on the pitch that respects the club’s proud heritage and reflects the character of the people who support it.



As Alan Ball famously said, “Once Everton has touched you, nothing will be the same”. Though our time on Merseyside has been brief, we feel that to be true. We also know that more of the same is not enough. Nothing but the best will do for Everton. On behalf of 777, Steve and I commit to work relentlessly to that end.



Josh

If the truth is more boring that fiction, what is the truth and why are investigations on going?

They say they are sure their commercial strategies will give them a competitive advantage. Yet they are unable to provide a single example of this happening at a football club.

They say that they have a track record of successful businesses and investing in them. Yet not one football club has had any significant investment, instead they have just cut costs.

they say that they will share resources where they can get “best in class resources“. Yet there is literally no evidence of any effective resources, let alone “best in class”.

and they have literally no track record of any success in running a football club.

As statements go, it creates far more questions than answers, and shows a disregard for the intelligence of the fans.

 

[matty1878]

If the truth is more boring that fiction, what is the truth and why are investigations on going?

They say they are sure their commercial strategies will give them a competitive advantage. Yet they are unable to provide a single example of this happening at a football club.

They say that they have a track record of successful businesses and investing in them. Yet not one football club has had any significant investment, instead they have just cut costs.

they say that they will share resources where they can get “best in class resources“. Yet there is literally no evidence of any effective resources, let alone “best in class”.

and they have literally no track record of any success in running a football club.

As statements go, it creates far more questions than answers, and shows a disregard for the intelligence of the fans.

you think they have the money to actually give us what we need as well as buying us?

 

[Bebeto]

Only if they’re not under a transfer ban.

The transfer ban is a technical question that don't need answer until the next window. They have plenty of time to get it sorted...its like paying your credit card...why paying well before you need to...it will make no difference to vasco or 777 if it gets sorted just before the next window

 

[Neiler]

you think they have the money to actually give us what we need as well as buying us?

Nope.

 

[ClausThomsen]

From 777 -
----
We currently control four clubs directly: Genoa in Italy, Standard Liège in Belgium, Vasco Da Gama in Rio de Janeiro in Brazil, and Red Star in France. At each of these clubs, we have improved sporting results meaningfully while reducing costs and increasing player value. Our success both on and off the pitch is clear to see.

---

As Alan Ball famously said, “Once Everton has touched you, nothing will be the same”. Though our time on Merseyside has been brief, we feel that to be true. We also know that more of the same is not enough. Nothing but the best will do for Everton. On behalf of 777, Steve and I commit to work relentlessly to that end.



Josh

One demonstrably inaccurate statement and one piece of patronising condescension.

By all means they should ask to be judged in time rather than immediately before they've even took control but that release is as dismissive as Kenwright's recent letter to fans.

 

[ClausThomsen]

The transfer ban is a technical question that don't need answer until the next window. They have plenty of time to get it sorted...its like paying your credit card...why paying well before you need to...it will make no difference to vasco or 777 if it gets sorted just before the next window

It does make a difference in the longer term. Clubs are gonna be less flexible around transfer structures when dealing with ownership with less than stellar repayment history.

 

[Moderatelywarmwater]

you think they have the money to actually give us what we need as well as buying us?

Well given that they can’t even afford to pay for the club in one go, I suspect it’s highly highly unlikely

 

[ForeverEverton]

Well given that they can’t even afford to pay for the club in one go, I suspect it’s highly highly unlikely

They also defaulted on a payment as part of the deal to buy Vasco De Gama recently........

Prospective Everton owners 777 Partners 'in default' after missed payment claims

Everton’s prospective owners 777 Partners have only paid 35% of the funds for their purchase of Vasco da Gama claims a report in Brazil

www.liverpoolecho.co.uk

 

[Moderatelywarmwater]

They also defaulted on a payment as part of the deal to buy Vasco De Gama recently........

Prospective Everton owners 777 Partners 'in default' after missed payment claims

Everton’s prospective owners 777 Partners have only paid 35% of the funds for their purchase of Vasco da Gama claims a report in Brazil

www.liverpoolecho.co.uk

I mean, in some ways, I don’t care if they default to Moshiri. His greed exceeded his talent and he will pay the price. But if they will screw them, they’ll screw us twice as bad

 

[EuroTexan]

I mean, in some ways, I don’t care if they default to Moshiri. His greed exceeded his talent and he will pay the price. But if they will screw them, they’ll screw us twice as bad

There's also the issue of a few hundred million required to complete a new stadium. Not sure how they're going to get that if they take on the existing debt of the club. What's left to use as security for any additional loans?

Moving money around between different enterprises is fine, but when it gets to this scale I don't see how its feasible anymore. So if they get past the new ownership test, its obviously still not within 100 miles of being fit for purpose

 

[Mrbluenose]

I would hate to be a part of one of these ‘shared ownership portfolio’ situations if we were in a lower league but seeing as we’re the ‘biggest’ (in terms of global fan base) club they will own and more importantly play in the ‘biggest’ (in terms of finances and global viewers) league in the world it means that we’re going to have our pick of the best players scouted or on the books of most other teams.

If a kid at Genoa, Vasco, Hertha start lighting up their league just watch us snap them up for a nominal fee. You saw the Watford/Udinese connection where suddenly a bunch of players came to Watford when they were in the premier league but when Watford went down there was a nice escape route for Deulofeu to still play in a top flight.

Sevilla have obviously had recent European success but we’ll be top of this pyramid scheme because the premier league is where the money is and that’s why I’m quietly confident this could be a decent thing for us.

This is the one possible positive for me.

A 10M player at Vasco becomes a 50M player after one good season at Everton.

If the group looks to funnel it's best players to Everton we benefit and they make money.

 

[Goat]

This is the one possible positive for me.

A 10M player at Vasco becomes a 50M player after one good season at Everton.

If the group looks to funnel it's best players to Everton we benefit and they make money.

Just the small matter of Vasco currently having a transfer ban due to 777 not paying its bills.