777 Partners / Whatever the hell you like

[GoldenToffee]

This fella , Phillip green , how do we end up in business with these parasites

It's all very simple:

 

[formerly manx toffee]

If Moshiri wants $500 million for the club, then either that will include the debt being written off, or it will be negotiated down significantly. Also if 777 end up owning the club then that debt will most likely be turned to equity immediately, so it isn't too bad when it is looked at from that perspective. If 777 are denied the club and call the debt in, then that could be a serious problem.

If they are getting reasonable interest I suspect they are ok with that in the short term. 12% or maybe more

 

[MikeH72]

Basically there is no end to the amount of debt Moshiri will allow to be piled on top of the club. It’s just open ended.

We need an act of god. We need him taken care of.

 

[Goat]

Thanks
But I was aware of this
I was answering a question which specified the 777 loans only .
But , yes , the situation is concerning .
For me the real villains are R & M

I know, I just wanted to post the weekly interest fee on the RM loan.

 

[Rich1878]

Breakdown of Everton’s debts as they go over the £1 billion mark

Any new buyer for the club is going to have to stump up a bunch of change

royalbluemersey.sbnation.com

180m to 777
200m to Media Rats
140m to MSP
30m to Metro Bank
490m to Moshiri

Then there’s £200m owed to shadowy firm Image & Media Rights, said to be owned by British bookmaker and billionaire Michael Tabor. Spread out over six loans between 2016 and 2022, the interest on those loans is rumoured to be at 12% and the club paying about £460,000 a week back per week on those.

That is enough to make you drink ffs. Un real

 

[Librarian]

How much money do we already owe 777 in loans

The financial equivalent of being pregnant and carrying their child

 

[Eggsyblueskin]

They killed the MSP deal, is that correct? Might bite them on the bum if we end up in administration.

Possibly
Although they appear to be first in the queue of lenders (behind HMRC ) should we enter administration, so who knows how badly they will get bitten . They will already have earned significant interest on the loan I suppose ?

 

[matty1878]

christ. we are literally beggars

 

[Martin Alvito]

christ. we are literally beggars

Moshiri is the beggar. It's just that, by virtue of purchasing most of the club's shares, he is granted the right to allocate the consequences to the club's accounts.

This is insane, if you stop and think about it for a minute.

 

[matty1878]

Moshiri is the beggar. It's just that, by virtue of purchasing most of the club's shares, he is granted the right to allocate the consequences to the club's accounts.

This is insane, if you stop and think about it for a minute.

but look the mess mate we are in

 

[Martin Alvito]

but look the mess mate we are in

We had nothing to do with the decision-making process that put us there.

It's customary in Western governance to regulate natural monopolies without adequate substitutes for the good of the customers. Somehow, sports has always existed in a massive regulatory blind spot across Western countries, probably because it's perceived as a luxury good.

 

[Clarky cat]

Get these 777 bozo’s in the bin and give Haiti a bell

 

[mikel_88]

Had the neeting with the league last week so we must be getting close to a result of the takeover now. Like everything at the club at this time going on far to long

 

[windymiller]

Possibly
Although they appear to be first in the queue of lenders (behind HMRC ) should we enter administration, so who knows how badly they will get bitten . They will already have earned significant interest on the loan I suppose ?

Maybe. They'll get pennies on the pound if we do go into admin, and it'll be the end of the gravy train. Maybe they'll be more flexible with other prospective owners?

 

[BNJ1878]

It's all very simple:

Undoubtedly.

I'm glad he's no longer involved at Everton, but I'm also a little disappointed he didn't stick around long enough for the majority to turn on him.

By some distance, the worst thing to ever happen to the club.

"But eeez one of us lad, he wants what's best for de blueezz"

Thick fans are also a large contributing factor for not hounding him out years ago.

We truly have the club we deserve.