777 Partners / Whatever the hell you like

[kenada_blue]

Two questions for the guys buried in reading more stuff than I have.

- why do 777 need to repay MSP ? Is it written into the loan agreement ?

- why do R&M seem to have a right of veto ? Again is it written into the loan agreement ?

These feels like they are quite odd rights that they have.

Think it was rumoured that if Moshiri sold they'd get their money back.

R&M have first charge I believe. MSP wanted first charge when they initially wanted to take over but R&M used it as an excuse to reject it (alterior motives were no doubt at play).

R&M do seem to be a major player in all this. It was them and Moshiri who u-turned the MSP deal in favour of 777. So they have a big say in wanting 777

 

[kenada_blue]

That's my understanding. Just because 777 are funding the running of the club, dosent mean Moshiri won't end up covering that cost. He has an obligation as owner to fund the day to day running of the club so every time 777 has pumped money in, that's money off Moshiri's price for the sale in the form of equity. I'm sure he would want this resolved ASAP.

Yes. The 777 loans have always been "feet under the door" positioning

 

[nsno-chris]

Remind me, who's MSP?

The Americans who wanted to buy 25% and got vetoed by Rights and Media Funding Ltd

So now they want their money back, by April

 

[Goat]

Paying off the MSP loan and having the 777 loans turned into equity would significantly improve our position, no? According to the figures being spoken of, it would reduce our debt by over £300 million, and would only leave us in about 150 million pound of debt with R&M, having facilitated 90% of the construction of a massive new stadium.

So the conditions, should they be met, would have us in a much improved position. It also suggests that Moshiri accepts that he won't be getting anywhere close to getting is money back. All that money that he is apparently still owed to him is gone, and he won't be getting it back from anyone.

Its suggested that 777 are paying him 550m for his shares.

And im not sure 300m "covers" the Stadium.

But sure, removing 300m in debt certainly helps the balance sheet.

 

[Goat]

The Americans who wanted to buy 25% and got vetoed by Rights and Media Funding Ltd

So now they want their money back, by April

I think they only want their money back if the 777 deal goes through.

 

[nsno-chris]

Paying off the MSP loan and having the 777 loans turned into equity would significantly improve our position, no? According to the figures being spoken of, it would reduce our debt by over £300 million, and would only leave us in about 150 million pound of debt with R&M, having facilitated 90% of the construction of a massive new stadium.

So the conditions, should they be met, would have us in a much improved position. It also suggests that Moshiri accepts that he won't be getting anywhere close to getting is money back. All that money that he is apparently still owed to him is gone, and he won't be getting it back from anyone.

The issue is, they can’t.

This has been going on for 6 months now; the conditions in the leaked letter seem to be what the PL have been seeking assurances about.

777 do not have the capital to do this, and since their own business model is now floundering then it’s even more unlikely.

The statement in the letter about paying MSP by April would suggest that there is some strings attached to that loan, and its requirement to be paid by April.

The issue then becomes; what do MSP get if it is not paid??

 

[CielosGrises]

Paying off the MSP loan and having the 777 loans turned into equity would significantly improve our position, no? According to the figures being spoken of, it would reduce our debt by over £300 million, and would only leave us in about 150 million pound of debt with R&M, having facilitated 90% of the construction of a massive new stadium.

So the conditions, should they be met, would have us in a much improved position. It also suggests that Moshiri accepts that he won't be getting anywhere close to getting is money back. All that money that he is apparently still owed to him is gone, and he won't be getting it back from anyone.

But that money from 777 comes from somewhere - effectively another debt organised by 777 which they will need to fund from Everton income (and backed by assets like the stadium, club and players no doubt).

It's not like Josh whathisfacce has that cash - he is orchestrating other 'investors' (people loaning us capital) who want ROI every month/year.

 

[nsno-chris]

I think they only want their money back if the 777 deal goes through.

I’d say there’s more.

They’re an investment group, the money is not going to be making any form ROI just sitting dormant until this utter mess of club sorts itself out.

April will be when the curtain is raised and we’ll be able to see the mess that is behind.

Oh and the accounts, which should be out soon

Yippee

 

[Goat]

I’d say there’s more.

They’re an investment group, the money is not going to be making any form ROI just sitting dormant until this utter mess of club sorts itself out.

April will be when the curtain is raised and we’ll be able to see the mess that is behind.

Oh and the accounts, which should be out soon

Yippee

We are led to believe this is a Premier League "demand", if you believe what was reported.

But who really knows.

And im sure they are charging interest on their loan.

 

[Goat]

 

[MikeH72]

If the fit and proper owners test doesn’t give the Premier League the power to ultimately say “you lot are piss takers, get lost”, then what is the point in it?

 

[Toffe3m4n]

I mean no disrespect as they're trying at least - but when was the last time that the FAB actually got an actual response from the club over the last year? or from anyone for that matter? CMS maybe?

 

[Blue Tumbleweed]

The Americans who wanted to buy 25% and got vetoed by Rights and Media Funding Ltd

So now they want their money back, by April

Goat said:
I think they only want their money back if the 777 deal goes through.

I listened to the TtB Podcast last night, and it would seem that MSP have a loan condition that means they need repaying 12 months after the loan was positioned with the Club, if certain conditions weren't met.

The Esk didn't expand too much on that, however, I would presume that the loan was conditional on MSP gaining equity, sorry shareholding, within the club. As this has not occurred, I would presume (here I go making an ass of myself again! ) that they are calling their loan in.

It wasn't mentioned, nor have I read, anything to suggest that MSP need repaying if the club is sold. As their loan is secured against the stadium and as such is a rock solid investment, unlike 777's largesse in keeping us afloat.

As I said in an earlier post, IF and I know it is a huge if, 777 do get approval, they could at least steady the ship to avoid us maybe slipping nearer administration. At least in the short to medium term at least (That is if their funding holds out?)

However, as The Esk and the Costigans said (amongst many others also), if they (777) could have satisfied the conditions, then surely they would have done so by now?

I'm just not sure where we'd go from the point whereby MSP want their money mid-April, the EPL won't approve 777, and if 777 can't show they can meet the conditions and additional commitments, and Moshiri fails to honour his letter of surety?

Will another speculator, or more than one knock on Moshiri's door? Or will MSP maybe use their £158m leverage with Moshiri and ask for a stake in the shareholding and ownership of the club, but on much tighter terms than they offered last March/April (2023)?

Realistically, Moshiri has to surely realise, that continuing to fund the club is more money after bad, and he'd be better just taking what he can, rather than hoping to maybe 'piggy back' on 777 and use them to loan money to EFC at higher rates than normal to 'wash' Russian money, to try and make some returns on his investment.? Just my opinion.

Remember, Moshiri still stands to make some return on his investment via the docklands area where he and Usmanov bought land for future development.

I genuinely believe, that the reason RMF blackballed MSP, was because MSP's investment vehicle was too legit (even though you wouldn't know who was actually behind each individual investor in Everton Investments PLC (US based). Whereas, 777 is a hodge-podge of an amalgamation of different companies and investment areas.

Just my take on the matter, using the information available on the internet etc..

 

[Muggins]

It’s all sounding a bit Vibrac.

 

[pfim]

Paying off the MSP loan and having the 777 loans turned into equity would significantly improve our position, no? According to the figures being spoken of, it would reduce our debt by over £300 million, and would only leave us in about 150 million pound of debt with R&M, having facilitated 90% of the construction of a massive new stadium.

So the conditions, should they be met, would have us in a much improved position. It also suggests that Moshiri accepts that he won't be getting anywhere close to getting is money back. All that money that he is apparently still owed to him is gone, and he won't be getting it back from anyone.

Yes, which is why the PL is making these stipulations that 777 doesn't seem to be able to fund.