777 Partners / Whatever the hell you like

Revised Polling options on who wants a 777 takeover

  • Total voters
    676
  • Poll closed .
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Neiler said:
We’re actually going to post a profit in the next few weeks mate, small one mind.
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Yep, David Ornstein said he's heard we are FFP compliant to his understanding for the new accounts (on the football side). saying he's think we may only be able to get loans or very low cost deals as we will be limited in Jan. And despite the rumours of Admin - he has heard no talk of that from his contacts
 

Goat said:
Rumour has it they are borrowing it at 20% interest, so no, none it makes any sense.
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It does if they can borrow at 20% interest and charge us 25%. This is where our troubles lie. Spurs managed to get a massive loan at normal rate, as did Arsenal when they built the Emirates. We are going to be saddled with debt interest for the next 20 years.
 
Ring master said:
Yep, David Ornstein said he's heard we are FFP compliant to his understanding for the new accounts (on the football side). saying he's think we may only be able to get loans or very low cost deals as we will be limited in Jan. And despite the rumours of Admin - he has heard no talk of that from his contacts
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My understanding mate, we are P&S compliant for 22/23 - we brought a lot of money into the club, we incrementally improved the wage bill and the oil tanker is slowly being turnedd around at core business operating level, we prob have to keep player trading to maintain that though.

From an existential point of view, we have a difficulty with debt, access to credit and high projected expenditure with 12 months to go on the stadium.

If you take it we have at this stage 400 -450 mill of external debt and are paying anywhere between 10-20% on this - this is a huge cost to the business which puts pressure on cashflow. Not withstanding we may have to raise another 100-200mill if not more to finish the ground. So you can see the pressure. Practically the difficulty in no one is willing to give Moshiri that credit, so he doesnt want to be left holding the parcel when the cash call comes in, we've bled him dry and hes not prepared to more in. Hes selling now to anyone who will give the best return - which is 777 in a highly structured deal,, their competency as fit owners isn't his priority or concern his return is. The 777 deal is an awful deal for the welfare of the football club - they will destroy us so we have to hope with all we have that doesn't happen.

Whats the fix? Moshiri lowers his asking price takes a massive haircut, sells and that hes not to be in driving seat when the pay call comes for the ground and the continuing maintenance of our debt. Our hope has to be a new buyer apart from 777 comes in at a reduced price and they fail the PL fit and proper test or fall foul of the FCA. A potential different new buyer may have lines of credit available to finish the ground Moshiri doesnt. They may also be able to roll up our £400+ mill external debt and our future debt in to one big construction loan at a rate of interest far better then we are paying at the moment - which would make it more manageable.

I see some saying what do we do in between if 777 fails and we have to hope we do. Our creditors know that if we go into administration - they get a fraction if anything that owed. Our creditors wont be prepared to do that - no one wins administration. Therefore they could and probably will renegotiate or delay payments until such a time that the above happens and an appropriate new owner is found. They will know the club has sellable assets and they will also we are 12-18 months to drastically improvising our revenue - its in their best interests to offer us flexibility.

That would be my take on our current position.
 
Last edited:
Yes, we are bleeding to death and waiting for an NHS ambulance. Unfortunately the available ambulances are urgently dealing with the sly sixes manflu, so we will just have to wait, like good little peons.
 

BlueandBald said:
What an absolute disaster this whole Moshiri era has turned out to be. The clown can't even sell us on to half respectable owners. Surely, there had to be a better option than these 777 cowboys.
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I think we have blue tinted glasses. None oil money owners want a return on investment. We are a shocking investment.
 
Neiler said:
My understanding mate, we are P&S compliant for 22/23 - we brought a lot of money into the club, we incrementally improved the wage bill and the oil tanker is slowly being turnedd around at core business operating level, we prob have to keep player trading to maintain that though.

From an existential point of view, we have a difficulty with debt, access to credit and high projected expenditure with 12 months to go on the stadium.

If you take it we have at this stage 400 -450 mill of external debt and are paying anywhere between 10-20% on this - this is a huge cost to the business which puts pressure on cashflow. Not withstanding we may have to raise another 100-200mill if not more to finish the ground. So you can see the pressure. Practically the difficulty in no one is willing to give Moshiri that credit, so he doesnt want to be left holding the parcel when the cash call comes in, we've bled him dry and hes not prepared to more in. Hes selling now to anyone who will give the best return - which is 777 in a highly structured deal,, their competency as fit owners isn't his priority or concern his return is. The 777 deal is an awful deal for the welfare of the football club - they will destroy us so we have to hope with all we have that doesn't happen.

Whats the fix? Moshiri lowers his asking price takes a massive haircut, sells and that hes not to be in driving seat when the pay call comes for the ground and the continuing maintenance of our debt. Our hope has to be a new buyer apart from 777 comes in at a reduced price and they fail the PL fit and proper test or fall foul of the FCA. A potential different new buyer may have lines of credit available to finish the ground Moshiri doesnt. They may also be able to roll up our £400+ mill external debt and our future debt in to one big construction loan at a rate of interest far better then we are paying at the moment - which would make it more manageable.

I see some saying what do we do in between if 777 fails and we have to hope we do. Our creditors know that if we go into administration - they get a fraction if anything that owed. Our creditors wont be prepared to do that - no one wins administration. Therefore they could and probably will renegotiate or delay payments until such a time that the above happens and an appropriate new owner is found. They will know the club has sellable assets and they will also we are 12-18 months to drastically improvising our revenue - its in their best interests to offer us flexibility.

That would be my take on our current position.
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Good reasoned analysis.

I think you are right

I fail to see how 777 can pass the fit and proper owner test and / or satisfy the FCA.

I have no idea if anyone else is waiting in the wings but I still believe that a PL club with Evertons history and potential with an iconic new stadium has to be an investment of interest at the right price.

I'm genuinely surprised that the Sheikh who United turned down isn't interested.
 
jazzy said:
Good reasoned analysis.

I think you are right

I fail to see how 777 can pass the fit and proper owner test and / or satisfy the FCA.

I have no idea if anyone else is waiting in the wings but I still believe that a PL club with Evertons history and potential with an iconic new stadium has to be an investment of interest at the right price.

I'm genuinely surprised that the Sheikh who United turned down isn't interested.
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Might be my eternal optimism but I’m still unconvinced 777 are as bad or as skint as they’re painted to be.
For all the transfer ban headlines, maybe that’s just a US negotiating tactic for a deal they’re unhappy with? Reputation wise it might not be a good look, but Standard Liege couldnt buy anyone now anyway as they’re outside the window. What if they’re just bigger mingebags than Levy when it comes to transfer negotiations?
Some of their wider business interests around insurance and buying long terms payouts off the hard up certainly look unsavoury, but is it any worse then Oligarchs or Islamic Oil states? What 777 do in the US is at least legal in the west, unlike what a lot of what those other two entities get up to.

Of course id love a benevolent Jim Radcliffe type to buy and bank roll us, but they’re few and far between and generally aren’t interested in Everton.
 
jazzy said:
Good reasoned analysis.

I think you are right

I fail to see how 777 can pass the fit and proper owner test and / or satisfy the FCA.

I have no idea if anyone else is waiting in the wings but I still believe that a PL club with Evertons history and potential with an iconic new stadium has to be an investment of interest at the right price.

I'm genuinely surprised that the Sheikh who United turned down isn't interested.
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Could be that he is as dodgy as 777, but the Mancs have got onto it and in a better position than us?
 

Bedfordblue said:
Might be my eternal optimism but I’m still unconvinced 777 are as bad or as skint as they’re painted to be.
For all the transfer ban headlines, maybe that’s just a US negotiating tactic for a deal they’re unhappy with? Reputation wise it might not be a good look, but Standard Liege couldnt buy anyone now anyway as they’re outside the window. What if they’re just bigger mingebags than Levy when it comes to transfer negotiations?
Some of their wider business interests around insurance and buying long terms payouts off the hard up certainly look unsavoury, but is it any worse then Oligarchs or Islamic Oil states? What 777 do in the US is at least legal in the west, unlike what a lot of what those other two entities get up to.

Of course id love a benevolent Jim Radcliffe type to buy and bank roll us, but they’re few and far between and generally aren’t interested in Everton.
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Dude, they can't even put together a set of audited financials for their group of companies. I don’t know what to equate that to, but it’s bat poop crazy.
 
pfim said:
Dude, they can't even put together a set of audited financials for their group of companies. I don’t know what to equate that to, but it’s bat poop crazy.
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Says who and how have they qualified it?
Which is kind of my point really, generally just loads of unsubstantiated rumour or over dramatised non stories.
If / when the FCA say get stuffed I’ll certainly change my mind, but speculation in the UK press isn’t going to change it.
 
Bedfordblue said:
Says who and how have they qualified it?
Which is kind of my point really, generally just loads of unsubstantiated rumour or over dramatised non stories.
If / when the FCA say get stuffed I’ll certainly change my mind, but speculation in the UK press isn’t going to change it.
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The ratings agency that rates them. The New York Times that states they could not provide them to the FCA when requested.

I thought this was common knowledge.
 

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