777 Partners / Whatever the hell you like

[MisterJ]

Which states are left? There must be someone with half a billion or whatever knocking around.

Venezuela?

 

[ForeverBlue92]

I am hopeful that we will find the "plucky" propaganda will be buried with Kenwright. That was his narrative - the fig leaf that covered his utter nakedness and lack of a plausible plan to have us punch our weight.

True sir although his tenure has brainwashed a lot of fans even to this day. RS fans would love a gulf buyout because ultimately they expect success. We shy away from it and still believe in an era of local blue businessman with "clean" money can deliver us "success". Thats ultimately BK's legacy / the difference in the direction of the two clubs since the PL era commenced - One moved with the times and corruption the other held onto "values" of a bygone era and stagnated.

I would have hoped how the PL have recently treated us in comparison to City/Chelsea's antics and the scab 6 in regards to the ESL would have woken the entire fanbase up to the reality of modern day football but some still cannot see it.

 

[SweetHomeGoodison]

Just read this on Pop Bitch weekly email (popbitch.com) Everton's new ownership group isn't just ringing alarm bells with fans. Fellow Premier League bosses were horrified by 777's Josh Wander's attitude at their recent meeting, shocking his besuited peers by keeping his baseball cap on the whole time. Wonder what meeting this was? ​

 

[Blue Smoke]

1 billion sounds horrific but if you say 750 million is toward the cost of brand new stadium, then 250million buys you the majority stake in the club.
Surely the thing that killing us is the interest payments on the money borrowed for the stadium?
777 are just gonna borrow money they haven't got and saddle us with even higher interest payments.
But I don't understand the philosophy of these apparent other parties that are interested IF we go into administration, as we would be cheaper.

 

[Dixieslaces]

I dont want that i want us to be run properly with an owner who can conjure up reasonable amount of funds to improve the club year after year.

If we got what you described then arent we joining the corrupt club everything were fighting against now?

I dont want to see footballers here earning 500k a week i want to see a level playing ground and PL system that guarantees it.
Give me an upcoming flourishing Branthwaite over a retiring Neymar any day of the week.

This.

 

[Dixieslaces]

Is that what you preach to your disciples at the Widnes style Waco compound, on the St Michaels Industrial Estate ?

Literally spat my tea out.

Waco Widnes

 

[BlueStevie35]

I dont want that i want us to be run properly with an owner who can conjure up reasonable amount of funds to improve the club year after year.

If we got what you described then arent we joining the corrupt club everything were fighting against now?

I dont want to see footballers here earning 500k a week i want to see a level playing ground and PL system that guarantees it.
Give me an upcoming flourishing Branthwaite over a retiring Neymar any day of the week.

Exactly, he preaches about how Yanks are crooks and vultures but has no issue with sports washing and oil barons

 

[Rook]

A private jet belonging to 777’s managing partner, Josh Wander, has been sitting in a Pennsylvania hangar since September due to unpaid bills, European soccer site Josimar reports.

its gonna crash in the alps w/ our squad on board and they are going to resort to eating each other. we'll get a good neflix movie about it tho

 

[everton fan number one]

The latest from Semafor…

777 Partners, the sports investor whose finances are under scrutiny as it tries to pull off its biggest deal yet, the purchase of Premier League’s Everton, is scrambling to sell businesses it owns to raise cash and reassure regulators.

The firm has been unable to produce audited financial statements and is facing a cash crunch in several of its businesses. In recent weeks, it has tried to restructure a €100 million Italian tax bill, seen airplanes at a budget carrier it owns seized by creditors, and failed to fund employees’ pension contributions at a London professional basketball team it owns, according to people familiar with the matter.

777 has been shopping its mortgage business, a pile of legal settlement claims, and Boeing aircraft owned by a Canadian budget carrier it operates, according to people familiar with the matter and presentations viewed by Semafor.

The effort will also help disentangle 777’s captive insurance company, which has bankrolled many of its investments. Authorities in Bermuda have warned the insurer that it’s too heavily invested in 777’s deals, people familiar with the matter said. Those financial ties also sparked a downgrade last month from a credit-rating agency, which cited “governance and risk management practices.”

777 agreed to sell some of those investments, according to the agency, AM Best, and appears to be doing that now.

For sale: an Ohio-based company that recruits potential beneficiaries of legal settlements, which 777 told possible buyers has $250 million coming its way from cases against Blue Cross Blue Shield, chicken antitrust, and an Indian drugmaker accused of delaying the release of generic drugs, documents show. The firm is also trying to sell a mortgage business, which has been heavily financed by 777’s captive insurer, according to documents shown to potential acquirers.

“With a portfolio featuring more than 60 businesses, evaluating businesses for sale is a regular part of the private investment model,” a 777 spokesman said. “We regularly entertain offers for various assets and strategically refinance debt to achieve more favorable terms.”

Investors I’ve talked to who have looked at these businesses for sale say they’re pretty good. There’s an active market for litigation finance and for nonbank mortgage lending. It looks like 777, in an effort to raise cash and get some breathing room from regulators and ratings agencies, is starting with their best assets, or at least those that are easiest to sell.

A private jet belonging to 777’s managing partner, Josh Wander, has been sitting in a Pennsylvania hangar since September due to unpaid bills, European soccer site Josimar reports.

Read Semafor’s past coverage of 777’s finances, including how it has used its insurance arm and a scoop on a related Justice Department probe.

They also own payday lender it says.

Unregulated mortgages, and payday lending and litigation finance ( also a risky business ), with some iffy real estate investments thrown in.

That's what 777 consists of. All bankrolled by the pension contributions of one of its companies apparently. Lovely.

 

[MikeH72]

Do be quiet.
Honestly, nobody is interested what you think.

Well said Andy.

 

[ForeverBlue92]

I dont want that i want us to be run properly with an owner who can conjure up reasonable amount of funds to improve the club year after year.

If we got what you described then arent we joining the corrupt club everything were fighting against now?

I dont want to see footballers here earning 500k a week i want to see a level playing ground and PL system that guarantees it.
Give me an upcoming flourishing Branthwaite over a retiring Neymar any day of the week.

Sorry Chieftain didnt see your reply.

Wasnt what you describe essentially what we had under Moyes for a decade ? Small funds slowly improving each year before having to sell a Branthwaite/Onana every other season to a Utd or Chelsea and starting back from scratch ?

Thats my point, you've become conditioned under the BK era to yearn for plucky midtable underdog status. We cannot afford to forget that we are a bastion of english football, a true giant of the game. We should be dining at the top of the table, other clubs in fear of our might - not being scraped off Masters shoe as some easy irrelevance and accepting our lot like a Brentford or Crystal Palace.

 

[AndyC]

Despite the tremendous upturn in performances and results in recent weeks, Everton Football Club face something of an uncertain Christmas and New Year.

The proposed takeover of the club by Miami-based 777 Partners appears to be stalling or maybe has stalled and if so, that leaves the club in something of a perilous position.

The Esk sums up the predicament facing not only the club but, the manager, players and especially, us the supporters... the unpalatable but real danger of administration and another points deduction.

#simplytellingithowitis

In the bleak mid-winter….

Frosty wind made moan, Earth stood hard as iron, Water like a stone…….With the exceptional uplift in results of recent weeks, it is tempting to believe that the huge difficulties facing…

theesk.org

 

[Goat]

Despite the tremendous upturn in performances and results in recent weeks, Everton Football Club face something of an uncertain Christmas and New Year.

The proposed takeover of the club by Miami-based 777 Partners appears to be stalling or maybe has stalled and if so, that leaves the club in something of a perilous position.

The Esk sums up the predicament facing not only the club but, the manager, players and especially, us the supporters... the unpalatable but real danger of administration and another points deduction.

#simplytellingithowitis

In the bleak mid-winter….

Frosty wind made moan, Earth stood hard as iron, Water like a stone…….With the exceptional uplift in results of recent weeks, it is tempting to believe that the huge difficulties facing…

theesk.org

I cant believe Esk has just copied everything I said for the last 24hours and added a "poem" at the end, I demand credit for him stealing my work.

 

[PeregrineT]

We owe roughly 200m to Media rights, 140m to MSP, 40+m to 777 and 30m to Metro Bank.

Plus whatever money we owe Moshiri and however much we still owe on the Stadium.

No, lets stay on topic and not try and red herring ourselves away from Newcastles financials. Not responding to it doesnt make your comments on it go away.

Meanwhile, you cant include the 140m MSP has specifically loaned for the stadium and then go "and however much we still owe on the stadium".

 

[Goat]

No, lets stay on topic and not try and red herring ourselves away from Newcastles financials. Not responding to it doesnt make your comments on it go away.

Meanwhile, you cant include the 140m MSP has specifically loaned for the stadium and then go "and however much we still owe on the stadium".

Esk above says almost word for word what ive been saying.



As a result at the end of 2023 Everton have approximate borrowings of £200 million to Rights and Media Funding (at base rate plus 5% per annum), £140 million to MSP and their limited partners, £20 million to Metro Bank (Everton’s bankers) plus an emergency funding of £100 million from 777 Partners – working capital provided monthly to meet the difference between income, operating costs and payments to the main stadium contractor Laing O’Rourke.

That’s £460 million outstanding with commercial rates of interest being charged.

In addition, there’s a further £150 million to be found to complete payments to Laing O’Rouke. Maintaining the payment schedule with Laing O’Rourke is critical. Defaulting on the existing contract is highly punative.


Its crazy how intelligent I am, how do I do it?