777 Partners / Whatever the hell you like

[Tony’s Carp]

Shouldn’t let it bother me, but he must be flabbergasted that he still has a platform after his “Everton are not in breach of PSR”, hours before referall. Dribbled out a meek story about meaning we would be compliant if we do X,Y and Z; some of which had been ruled out by the first commission, and the rest pure guesswork based on unseen, unaudited and unsubmitted accounts. Bet he thought his rep was toast, now popping up in the middle of hit pieces against the club in national media, and claiming he was party to meetings about how we were going to account for interest under International Accounting Standards. If he was anywhere near such a meeting, you can’t then spout off about it on X! The 22/23 accounts haven’t been filed with companies house and he is releasing numerical examples from them to the world? Never happening.

Like driving past an accident, I can’t help but look each time he spouts due to the lack of other info. Doesn’t even talk a good accounting game. Knows the buzzwords and knows what gets clicks. Driving me mad that poor folk hang their hopes on his sermons. If any alternative buyers have in any way had contact with him, which he seems to want people to think, then they are immediately more hopeless than 777.

Sick of seeing the word Josimar too.

Mm, his little cameo in Ziegler's little PL commissioned piece was just about the final straw for me. More about what's best for The Esk than Everton. Annoys me more than it probably should that his relentless self-publicity seems to have made him an unofficial, and entirely unelected, fans spokesman in the media.

 

[matty1878]

Miami Vice allegedly main sponser of 777 - they are linked to most things bad - Thanks Bill - I did read there is a consortium from India waiting in the wings when the prem gives 777 the thumbs down, ready to buy us out completely allegedly - debts the whole package - I can't see Moshisri getting much with all the loaned money deals with the interest etc

One can live in hope ...... or its liquidation .....

we gotta hope mate

 

[matty1878]

anyone think we ( or the club etc )
and the silk fella think we can overturn it?

it will be a different panel will they look at it differently? this is our last hope

 

[AndyC]

There are no other buyers, thats why we are sitting and waiting for 777 cowboys for the last 5 months.

that Moshiri is prepared or willing to speak to having given his idiotic blessing to 777.

 

[Tony’s Carp]

that Moshiri is prepared or willing to speak to having given his idiotic blessing to 777.

These other buyers are always talked about, with a fair amount of certainty by some, but never identified. Would it not help if they did identify themselves as an interested party? If they are considerably more palatable than 777 that would not only make them be seen in a favourable light by the fans but also the PL might feel on safer ground to reject 777 knowing a credible alternative exists. Then to some extent Moshiri's hand would be forced.

 

[BlueStevie35]

the prem do have agenda on us andy

either way they will f us over

but this mob 777 are guna wipe us

and sad thing is we have to sit back and watch

There’s no evidence that they will for Jesus sake

 

[ToffeeTim]

We need this takeover to get finalised so we at least have some sort of certainty

 

[AndyC]

These other buyers are always talked about, with a fair amount of certainty by some, but never identified. Would it not help if they did identify themselves as an interested party? If they are considerably more palatable than 777 that would not only make them be seen in a favourable light by the fans but also the PL might feel on safer ground to reject 777 knowing a credible alternative exists. Then to some extent Moshiri's hand would be forced.

If approaches to Moshiri have been rebuffed which, is almost certainly the case because of his stating 777 are the best option - even though they don't seem to be able to prove it by providing the financial accounts required by the PL etc - then one assumes the other interested party/parties see going public with their interest as pointless.

If (more likely when) the PL ultimately reject 777 or 777 decide to withdraw from the process as it's going nowhere, the club heading into Administration is highly likely and then all/any interested parties would declare their interest to and approach the Administrators with their offers.

If it was me and I'd been rebuffed by Moshiri, I wouldn't go public. I would sit back and wait for the 777 situation to unravel... and that's how I suspect the interested parties are thinking.

 

[Tony’s Carp]

If approaches to Moshiri have been rebuffed which, is almost certainly the case because of his stating 777 are the best option - even though they don't seem to be able to prove it by providing the financial accounts required by the PL etc - then one assumes the other interested party/parties see going public with their interest as pointless.

If (more likely when) the PL ultimately reject 777 or 777 decide to withdraw from the process as it's going nowhere, the club heading into Administration is highly likely and then all/any interested parties would declare their interest to and approach the Administrators with their offers.

If it was me and I'd been rebuffed by Moshiri, I wouldn't go public. I would sit back and wait for the 777 situation to unravel... and that's how I suspect the interested parties are thinking.

Fair enough. But, as unpalatable as 777 might be, if there are vultures waiting for the club to fall apart even more than it already has, and for certain relegation from the administration points deduction, just so they can get a bargain price, they shouldn't be assumed to be better. The scenario you outline is completely disastrous and shouldn't be actively rooted for by anyone with Everton's interests at heart.

 

[AndyC]

Fair enough. But, as unpalatable as 777 might be, if there are vultures waiting for the club to fall apart even more than it already has, and for certain relegation from the administration points deduction, just so they can get a bargain price, they shouldn't be assumed to be better. The scenario you outline is completely disastrous and shouldn't be actively rooted for by anyone with Everton's interests at heart.

I completely understand your saying that but...

Put yourself in the hypothetical position of knowing that Moshiri has obviously named a price and 777 have negotiated with him the terms they'd be willing to accept to take it to the stage they're at now... of having to try and the pass the PL tests.

Then bear in mind that there are existing creditors - R&M Funding, Andy Bell, George Downing, MSP and 777 themselves - who have all got substantial amounts of money 'invested' in Everton... rough figures would put that to be in excess of £500m on top of the price Moshiri wants... and given the ongoing need to keep BM funded to avoid punitive clauses that LOR would certainly bring into play... that puts the total (well) in excess of £1b.

Nobody in their right mind would offer that for Everton... so in a simplistic view of the harsh world of business, you wait and when the wheels come off, you look to pick it up off the Administrators for as little as possible... and then begin the rebuild process.

Ultimately, a new buyer would only be interested in protecting THEIR investment, they probably would not give a toss about Moshiri or any of the other creditors for that matter - they would be dealing with the Administrators to take over a failed operation and implementing a rescue package with which to start the long, long, long overdue restructuring of the club.

 

[Leylo]

I completely understand your saying that but...

Put yourself in the hypothetical position of knowing that Moshiri has obviously named a price and 777 have negotiated with him the terms they'd be willing to accept to take it to the stage they're at now... of having to try and the pass the PL tests.

Then bear in mind that there are existing creditors - R&M Funding, Andy Bell, George Downing, MSP and 777 themselves - who have all got substantial amounts of money 'invested' in Everton... rough figures would put that to be in excess of £500m on top of the price Moshiri wants... and given the ongoing need to keep BM funded to avoid punitive clauses that LOR would certainly bring into play... that puts the total (well) in excess of £1b.

Nobody in their right mind would offer that for Everton... so in a simplistic view of the harsh world of business, you wait and when the wheels come off, you look to pick it up off the Administrators for as little as possible... and then begin the rebuild process.

Ultimately, a new buyer would only be interested in protecting THEIR investment, they probably would not give a toss about Moshiri or any of the other creditors for that matter - they would be dealing with the Administrators to take over a failed operation and implementing a rescue package with which to start the long, long, long overdue restructuring of the club.

Would 777 lose the money borrowed if the club went into administration

 

[AndyC]

Would 777 lose the money borrowed if the club went into administration

Potentially.
As I understand it, the administrators would seek to realise the best price they could and then any creditors would receive an offer of x amount eg 10p on the pound or whatever.
I'm not sure there would be any cast-iron guarantees.

 

[Leylo]

A lot of knowledgeable people on here just a question if we went into administration could there be a big possibility we stay at goodison for the foreseeable even if stadium was completed

 

[Tony’s Carp]

I completely understand your saying that but...

Put yourself in the hypothetical position of knowing that Moshiri has obviously named a price and 777 have negotiated with him the terms they'd be willing to accept to take it to the stage they're at now... of having to try and the pass the PL tests.

Then bear in mind that there are existing creditors - R&M Funding, Andy Bell, George Downing, MSP and 777 themselves - who have all got substantial amounts of money 'invested' in Everton... rough figures would put that to be in excess of £500m on top of the price Moshiri wants... and given the ongoing need to keep BM funded to avoid punitive clauses that LOR would certainly bring into play... that puts the total (well) in excess of £1b.

Nobody in their right mind would offer that for Everton... so in a simplistic view of the harsh world of business, you wait and when the wheels come off, you look to pick it up off the Administrators for as little as possible... and then begin the rebuild process.

Ultimately, a new buyer would only be interested in protecting THEIR investment, they probably would not give a toss about Moshiri or any of the other creditors for that matter - they would be dealing with the Administrators to take over a failed operation and implementing a rescue package with which to start the long, long, long overdue restructuring of the club.

Yeah, I understand the logic from the investors point of view of waiting to pick us up from an administrator. It's still a terrible outcome from the point of view of any supporter wanting to watch semi-decent Premier League football at the new stadium in the next few years.

These investors circling may be more credible than 777, their strategy may (from the point of view of their own investment) be sensible, but we should not confuse that with necessarily being the best thing for the football team or us fans thereof. It's also a pretty major asterisk to be applied when we are told by those "in the know" that their are other parties out there- if they are waiting for administration they aren't exactly the white knights some might perceive.

Indeed if the league do believe the alternative scenario plays out as you say it may well be the reason 777 have not yet been rejected, as the league do not want to be perceived as driving a club into administration. Which goes back to my point, that if there were investors willing to buy from Moshiri rather than from administrators they should identify themselves so the league are comfortable rejecting 777. If there are no such investors then it's a very unpalatable choice either way!

 

[AndyC]

A lot of knowledgeable people on here just a question if we went into administration could there be a big possibility we stay at goodison for the foreseeable even if stadium was completed

If the club were to go into Administration, I would think that BM would potentially/probably be 'sold' off to a stadium management company who would run it, and in effect rent it back to the club... assuming the club were to be rescued.
Instead of the club owning its own stadium, the club would become tenants and rent it.