777 Partners / Whatever the hell you like

[AndyC]

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!

This has to be a wind-up ??

 

[Goat]

This has to be a wind-up ??

 

[Blue Tumbleweed]

A lot of people seem to have their head buried in the sand with regards how utterly screwed we are cash wise and they dont understand why potential "investors" arent lining up to invest in the money black hole we call Everton.

Absolut Goat! The numbers surrounding the club are ridiculous, just insane for a business that in 2021 was generating £193m, and in 2022 we generated less, £181m. So just how the hell do we as a club manage to end up being in debt, or have received an influx of £830m, and end up indebted to nearly twice that.!?

As Moshiri himself said in the Jan of 23, Everton are facing an existential threat, not only with administration and relegation, but unless a speculator picks us up on the cheap, and probably nose-diving into L1 for falling foul of the EFL PSRs, we could be facing liquidation

Oh, what is that I hear! Doom-monger... or realist? Although a pessimistic one (currently!)

Any potential investor is going to get the best price possible for what would be an absolute steal, and less pressure to get things right for at least one season.

Currently, even as distressed as we are, we are not an attractive proposition, unless someone is in it for the long haul, AND Moshiri takes a complete bath.

Good wishes Goat

B TW

 

[Goat]

Absolut Goat! The numbers surrounding the club are ridiculous, just insane for a business that in 2021 was generating £193m, and in 2022 we generated less, £181m. So just how the hell do we as a club manage to end up being in debt, or have received an influx of £830m, and end up indebted to nearly twice that.!?

As Moshiri himself said in the Jan of 23, Everton are facing an existential threat, not only with administration and relegation, but unless a speculator picks us up on the cheap, and probably nose-diving into L1 for falling foul of the EFL PSRs, we could be facing liquidation

Oh, what is that I hear! Doom-monger... or realist? Although a pessimistic one (currently!)

Any potential investor is going to get the best price possible for what would be an absolute steal, and less pressure to get things right for at least one season.

Currently, even as distressed as we are, we are not an attractive proposition, unless someone is in it for the long haul, AND Moshiri takes a complete bath.

Good wishes Goat

B TW

A week to go till our accounts are made public.

They are lagged 12months, so wont paint the true picture, but they should be "interesting" to say the least.

 

[jinkyali]

How much do you reckon the purchaser would need for all of the above and buy off Moshiri? Genuine question…as I say I have not done the numbers.

Depends how much Moshiri wants. He's in a pretty crap position to ask for much after all the debts and liabilities for stadium are paid off.

I reckon it could be done for 500m and he walks away with 50m or so.

 

[Goat]

Depends how much Moshiri wants. He's in a pretty crap position to ask for much after all the debts and liabilities for stadium are paid off.

I reckon it could be done for 500m and he walks away with 50m or so.

No mate.

Hes in a hole for 800+million.

I doubt hes walking away with 50m.

 

[Eggsyblueskin]

Must admit I was under the impression the ‘exclusivity period’ had ended months ago. Certainly having agreed a sale price etc I’d be a bit surprised if anyone else was still locked out of tabling an offer.
I said in a previous post almost any credible alternative would be viewed more favourably that 777 so even if they couldn’t formally make and offer (which like I say I’m not convinced is the case) a leak to a new paper and the would be uproar if they wouldn’t even be considered.

Exclusivity is probably inferred when the sale is agreed.
I doubt declaring an interest will do much to derail 777 purchasing the club if they meet conditions. They are already regarded with significant opprobrium at most of the clubs they own , water of a ducks back to them.
Moshiri couldn’t care less about us .
Supporters have no agency here , sadly.

 

[Toffeeslam]

Basically.

If 777 get approval we are totally screwed
If 777 dont get approval we are totally screwed

Negative, miserable, DOOMER, whatever you want to call me, but I dont see a single way out this whole mess without the club that is currently smoking to become a raging inferno.

So your advocating administration ?

 

[neil999]

Does anyone know how I go about writing a blog?

 

[Goat]

So your advocating administration ?

Im not advocating anything.

I have no idea how we get out of this.

 

[Bkk Andy]

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!

If this is even close to being correct we might as well fold right now. No one in their right mind would want to get into that. We'd need an oil state to cover those numbers.

 

[Simon Buttle]

Im not advocating anything.

I have no idea how we get out of this.

We have to hope that Moshiri wakes up and smells the coffee and see's that 777 can't meet the conditions and he puts an end to this charade. I think it's going to go right to the wire tbh, I certainly don't think that 777 can pay off MSP by mid April which is merely a matter of weeks away.

 

[Goat]

We have to hope that Moshiri wakes up and smells the coffee and see's that 777 can't meet the conditions and he puts an end to this charade. I think it's going to go right to the wire tbh, I certainly don't think that 777 can pay off MSP by mid April which is merely a matter of weeks away.

Is that when these "other investors" roll in and save us?

Cos I cant see it.

 

[summerisle]

Basically.

If 777 get approval we are totally screwed
If 777 dont get approval we are totally screwed

Negative, miserable, DOOMER, whatever you want to call me, but I dont see a single way out this whole mess without the club that is currently smoking to become a raging inferno.

Does Moshiri do the Euromillions ?

 

[Eggsyblueskin]

Is that when these "other investors" roll in and save us?

Cos I cant see it.

While sharing your pessimism, MSP clearly thought they could achieve something if the price was right.
It is not in Moshiri’s interest to allow us to go bump.
Clearly 777 aren’t the answer and never really were.
We survive or die really.
All we can do is look on helplessly.