A big question with 777 is will the ground even be of any benefit to us?
A projection for the ground is that it will increase revenue by about £40 mill per year. What guarantee is there within the 777 model that this money goes to Everton?
For example 777 has a stable of clubs. Say Everton produce an increased profit - 777 partners are the shareholders - so they decide how that profit it used. The partners have choices - either it goes back into Everton, or they can pay themselves a dividend and take the profit out of the club or say one of the other clubs in the stable isn't doing well like Leige. If Everton maintains its value, but they can increase the value of Liege by giving them say the profit of £40 mill that Everton has generated - well it makes sense to increase the value of the least performing club and thus their overall investment. Thus the value of the asset for the partners goes up collectively.
Make no mistake about it this is nothing like what happens at the CIty group.
So with any future profits or success like the new ground or European football or even selling a player etc - there is no guarantee that the revenue will go to or benefit the club.