777 Partners / Whatever the hell you like

[formerly manx toffee]

ive not seen anyone like him and his mate Paul Brown think it is, go on about something so much, as these 777. Its like they are been paid for exclusive work just on them. Everyone knows what 777 are like, we dont need him going on about it every single day

I think you are right. I suspect in the end he is right in his assertion that this is a bad deal long term. I agree with him but just feels like regurgitating similar things over and over.

You would have to be living in a ditch not to know the positions on the other teams in the “stable” and the non payment issues.

We know. It’s clear.

 

[neil999]

Pretty obvious 777 have been so caught up in focusing on everton that other things have let slide and they forgot to do some payments and that, we will be the jewel in their crown the sun to their stars the wind in their wings, onwards to glory!

 

[Librarian]

But there is no evidence they have the necessary funds in the first place, if they did they would have been approved already .

They have to raise the funds, that’s the point I’m making.
They probably have interested parties but those investors need to know if they commit then the PL won’t reject anyway.
It’s easier to secure the funds if the PL make a public statement saying they are ‘mindful to accept’.

 

[neil999]

I think you are right. I suspect in the end he is right in his assertion that this is a bad deal long term. I agree with him but just feels like regurgitating similar things over and over.

You would have to be living in a ditch not to know the positions on the other teams in the “stable” and the non payment issues.

We know. It’s clear.

It's almost like he thinks other people don't have eyes!

 

[formerly manx toffee]

Pretty obvious 777 have been so caught up in focusing on everton that other things have let slide and they forgot to do some payments and that, we will be the jewel in their crown the sun to their stars the wind in their wings, onwards to glory!

You have a sunnier disposition than me my friend !

 

[chippy1722]

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.

He’s probably normally used to working with competent colleagues who help him, poor fella would never have envisaged someone like Kenwright.
Don’t blame for just trying to sell up quickly and run, I mean he could have had to wait 20 years like Bill supposedly did for any bid to come along.

 

[LucBesson]

Our company has had commercial dealings with 777 and, honestly, they are incompetency personified. There is not one good story I've heard about them and it's honestly tragic that it has come to this.

 

[chippy1722]

So all the 777 apocalyptic warnings are to be ignored then ?

777, are to the finance world, what DCL and Beto are to the goalscoring charts.

 

[Toffe3m4n]

Our company has had commercial dealings with 777 and, honestly, they are incompetency personified. There is not one good story I've heard about them and it's honestly tragic that it has come to this.

Who's your company mate? and what is the extent of your dealings with Josh Wander?

 

[Eggsyblueskin]

They have to raise the funds, that’s the point I’m making.
They probably have interested parties but those investors need to know if they commit then the PL won’t reject anyway.
It’s easier to secure the funds if the PL make a public statement saying they are ‘mindful to accept’.

But that was the prerequisite anyway .
Any serious invester would have known that 777 needed the funds to complete the purchase , hence the need for their investment .
But I doubt any invester would look at 777 at the moment and think they represented a good investment with or without Everton .
No wonder they were described as a ‘crumbling house of cards’ in court.
They are so overextended they have virtually become incorporeal.

 

[LucBesson]

Who's your company mate? and what is the extent of your dealings with Josh Wander?

Don't want to say the name publicly given I'm slagging them off, but we're a sports media publication and the commercial deal was related to Genoa. I also ever dealt with Investment Associates but they were incompetency personified from Day 1.

We joked about how bad they were and then 2 months later they were buying Everton

 

[Librarian]

But that was the prerequisite anyway .
Any serious invester would have known that 777 needed the funds to complete the purchase , hence the need for their investment .
But I doubt any invester would look at 777 at the moment and think they represented a good investment with or without Everton .
No wonder they were described as a ‘crumbling house of cards’ in court.
They are so overextended they have virtually become incorporeal.

They’ve already been able to raise the near 200 million they’ve invested in Everton already and they are the only show in town at the moment I’m afraid.

With that PL statement, it’s been put up to them, so we will find out soon.

If they fail, then any other investment group ‘in the wings’ appear to be waiting for us to completely destruct so that Moshiri gets nothing, good for them but bad for us because it likely means we’re in the championship or administration.

No good options left.

 

[Blue peter]

For someone other than 777 partners to take us over, there is quite a high level of investment and/or restructuring required;

Currently we have Circa £23m per month operating and construction costs

Stadium costs currently estimated at circa £780+, monies invested currently with Moshiri's £250m, MSP/Blythe £140m, 777 circa £120-140m(?) still leaves upwards of £250m to complete

MSP/Blythe see above (NB With interest actually £158m and growing per month)

777 would need an extra £40-60m bundled to approximately £180-185m in total. ((Again depending on the rumours of the swingeing interest rates when the monies were borrowed (rumoured that some loans were taken at 52%!!) who knows exactly how much would need to be repaid!?))

This is of course ignoring the outstanding debt to Moshiri, circa £830m in total (share purchases, player investment and stadium investment plus preconstruction costs)

There is the debt of circa £20m to Metro bank, and the real kicker the upwards of £225m (again increasing per month) debt to the senior creditor, Rights and Media Funding (RMF)

Not a pretty picture at all... to summarise

So a cash flow of approx. £90-95m operating costs till August 31st. (More needed at some level after that, BUT hopefully reduced by completing the financing of the LO'R project)

Stadium costs of £250m (being generous) outstanding (maybe as much as £280) if not a little more...

MSP £158m and RMF £225m+ (Metro Bank £20m)

777 £185m+ (and growing rapidly due to interest rates)

So in total approximately £90-95m for operating costs (i.e. liquid) and somewhere between £838m and £868m in debt (restructuring or to try and reduce)

All that without looking at Mosh's separate £830m investment...

Scary innit!

Absolutely scary!!! Whoever takes over will need deep pockets re cash flow but possibly will need a longer term investment for a suitable return - I know the American business community thinks that the PL as a commodity has not reached it’s value potential in terms of televised worldwide rights, so clubs may generally appreciate in value…..but that’s one hell of a commitment. The only way I think any investor gets value for money, is if we fall into administration unfortunately. I just don’t see how anyone els gets a return unless they fund and then sell the stadium which would invalidate the lease agreement with Peel.

 

[Librarian]

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.

R&M wanted to be paid back 1st and MSP didn’t want to or couldn’t do that.

 

[Eggsyblueskin]

R&M wanted to be paid back 1st and MSP didn’t want to or couldn’t do that.

They didn’t agree with MSP’s valuation of the club .