777 Partners / Whatever the hell you like

[Clarky cat]

hurry up ffs my pet insurance runs out next week!

 

[Eggsyblueskin]

What do think a better time for them would look like for the club?
When we’re in Admin? When we’re in the Championship?

Why would anyone pay more than the apparent value of the business?
For one thing the more money you spend on the actual purchase means you have less money to invest in and improve the business.
In my opinion the real culprits in this mess remain the shady R&M group who refused to accept MSP’s valuation of the club.
It is also increasingly apparent that 777 can only meet the higher asking price by obtaining loans and loading the club with more debt.
I assume that no one else can officially open negotiations until 777 withdraw from the purchase ( which they have completed subject to PL approval ), which will presumably only happen when the , (already extended ), agreed time period for completion has expired.

 

[Neiler]

Be pretty incredible if Mosh’s team hadn’t already sought these exact assurances before last years agreement was even signed.

Never seen an acquisition where some proof of funds or due diligence over the buyer done before heads of agreement (intention to proceed with the transaction) signed. Apparently until now. Amazed he has any money left.

Hes very incompetent mate, people always assumed otherwise, because of his wealth, because he was an accountant, because he often told us what we wanted to hear and put money in.

When you look at all of the decisions he's made at the club, they've been awful.

So the 777 debacle doesn't surprise me at all, less we forget this is second run at this after wasting a good 8 months last year doing the same thing with MSP.

 

[Simon Buttle]

Why would anyone pay more than the apparent value of the business?
For one thing the more money you spend on the actual purchase means you have less money to invest in and improve the business.
In my opinion the real culprits in this mess remain the shady R&M group who refused to accept MSP’s valuation of the club.
It is also increasingly apparent that 777 can only meet the higher asking price by obtaining loans and loading the club with more debt.
I assume that no one else can officially open negotiations until 777 withdraw from the purchase ( which they have completed subject to PL approval ), which will presumably only happen when the , (already extended ), agreed time period for completion has expired.

If those "conditions" are correct then it may only be a matter of weeks for that, it stated that one of those was they had to pay MSP back by mid April which seems highly unlikely.

 

[Eggsyblueskin]

If those "conditions" are correct then it may only be a matter of weeks for that, it stated that one of those was they had to pay MSP back by mid April which seems highly unlikely.

True,
It could be said then that MSP still have ‘skin in the game ‘ ( to a degree anyway )?

 

[Eggsyblueskin]

Currently have to infer that if 777 had over £400m freely available capital to hand, they would have been able to pay their various debts on time , build the facilities at Genoa , not be late in paying wages , not make staff redundant , not withdraw a successful basket ball team from future competition, no have passenger jets repossessed on the runway , etc. etc. etc.
What a bunch of con men this gang are .
In some ways it’s hard not to admire their pure front .

 

[ForeverEverton]

Currently have to infer that if 777 had over £400m freely available capital to hand, they would have been able to pay their various debts on time , build the facilities at Genoa , not be late in paying wages , not make staff redundant , not withdraw a successful basket ball team from future competition, no have passenger jets repossessed on the runway , etc. etc. etc.
What a bunch of con men this gang are .
In some ways it’s hard not to admire their pure front .

Agree, smacks of a company with assets but no money.

If they fail to pay the previous owners at Standard Liege the next stage payment by mid April, they lose that club as the shares revert back to the previous owner.

 

[Moderatelywarmwater]

Currently have to infer that if 777 had over £400m freely available capital to hand, they would have been able to pay their various debts on time , build the facilities at Genoa , not be late in paying wages , not make staff redundant , not withdraw a successful basket ball team from future competition, no have passenger jets repossessed on the runway , etc. etc. etc.
What a bunch of con men this gang are .
In some ways it’s hard not to admire their pure front .

They want us, because we would help them in raising capital (or maybe leveraging debt?) acorss the entire group

 

[ForeverEverton]

They want us, because we would help them in raising capital (or maybe leveraging debt?) acorss the entire group

Correct, they thought they would get in to the club for the initial £60m they are paying to Moshiri then be able to borrow off the back of the club or stadium.

That has massively backfired.

 

[Eggsyblueskin]

Correct, they thought they would get in to the club for the initial £60m they are paying to Moshiri then be able to borrow off the back of the club or stadium.

That has massively backfired.

Assume they expected to bully and bluster their way past the necessary requirements as they did in Belgium.
Hopefully they have now been found out as a bunch of potless chancers.

 

[Librarian]

It's OK guys the other buyers are just waiting lol

Probably they are, waiting for us to blow up completely.

An Everton in Admin and or the Championship makes sense for a buyer because it weakens Moshiri’s bargaining power.

777 are the only ones willing to buy now (albeit with provisions for relegation) under terms acceptable to the owner.

Moshiri walking away with nothing sounds like a great result until you realise that this outcome likely means we’re in the championship and maybe in administration with the stadium on ice.

 

[Eggsyblueskin]

Probably they are, waiting for us to blow up completely.

An Everton in Admin and or the Championship makes sense for a buyer because it weakens Moshiri’s bargaining power.

777 are the only ones willing to buy now (albeit with provisions for relegation) under terms acceptable to the owner.

Moshiri walking away with nothing sounds like a great result until you realise that this outcome likely means we’re in the championship and maybe in administration with the stadium on ice.

But apparently Moshiri was happy with MSP’s offer , it was R&M who weren’t .
Moshiri doesn’t walk away with nothing, unless the club goes into administration.

 

[ForeverEverton]

I think the PL letter going public would have been on purpose and would have mobilised a few potential buyers as it doesn`t seem like 777 will pass.

Knowing more of the specifics i.e. purchase price and immediate debt repayments might bring a few that were thinking about bidding in to the arena.

 

[Frenk]

Wrong on what? Kenwright / Moshiri …. 777
Far from it

Mata.

 

[matty1878]

I think the PL letter going public would have been on purpose and would have mobilised a few potential buyers as it doesn`t seem like 777 will pass.

Knowing more of the specifics i.e. purchase price and immediate debt repayments might bring a few that were thinking about bidding in to the arena.

what i have missed?