777 Partners / Whatever the hell you like

[efcfanwirral]

It might be controversial but could it be that Moshiri has "played" 777, kept them on the line with them putting money in knowing they could never ever afford a PL club.

Its in their favour to have the debt owed to them, so I doubt they've been played, but maybe them and Moshiri have done a deal around this MSP thing as a backup to them not being approved. It actually would make more sense as we've repeatedly questioned why they're putting the money in when they might not be approved. They're still owed the money regardless

 

[pfim]

Its in their favour to have the debt owed to them, so I doubt they've been played, but maybe them and Moshiri have done a deal around this MSP thing as a backup to them not being approved. It actually would make more sense as we've repeatedly questioned why they're putting the money in when they might not be approved. They're still owed the money regardless

It's very much not in their favor for EFC to owe them 200 million. They could not put that in as equity until PL approval, so that wasn't an option.

 

[Eggsyblueskin]

I'm not sure it would be a deliberate plot to sidestep R&M. I wouldn't give too much credit to Moshiri even if this works out OK for him, because he couldn't have known for sure 777 wouldn't pass the tests.

It way well be the case that he's known all along that mid-April is the date the 777 deal comes off the table naturally so he hasn't hurried to pull the plug, and he may well be happy with either outcome.

Agree to be honest .
MSP were his preferred choice but when this was stymied he went for second best in 777.
I do wonder whether 777 were aware of the conditions and potential ramifications of MSP’s loan agreement?
Just hope 777 don’t find the finance they need to close the deal ( I’d be extremely suspicious if they did considering the condition of their finances overall)

 

[Eggsyblueskin]

Its in their favour to have the debt owed to them, so I doubt they've been played, but maybe them and Moshiri have done a deal around this MSP thing as a backup to them not being approved. It actually would make more sense as we've repeatedly questioned why they're putting the money in when they might not be approved. They're still owed the money regardless

Bit of a puzzler that , they borrowed the money from a third party , so they have to pay it back with interest themselves can’t see them making much on it ( relatively speaking ).

 

[Neiler]

MSP may have played a blinder then, there’s a good chance 777 don’t come up with the money by the 15th. I’d be happy with MSP as owners too, I think they would be okay.

Not really, 777 are getting 100% of the club on a structured deal starting at 60-130 mill if accelerators are met - which they won’t be.

MSP are getting 50.1% of Moshiris shares for £159 mill, though have security over the stadium company to.

 

[Moomin]

It might be controversial but could it be that Moshiri has "played" 777, kept them on the line with them putting money in knowing they could never ever afford a PL club.

Do you reckon MSP could Reform the club?

 

[Neiler]

It’s far from a forgone conclusion that if we defaulted on the loan, whether MSP would want to take up the option of equity in the club.

They were previously interested in a minority stake as an investment but a controlling interest is different. There are commitments you have to make with the PL, to cover losses.

While a controlling stake means you are responsible for the corporate recovery of the club, putting governance in place, managing that on an operational level day to day and ensuring the club operationally recovers, that’s a massive job requiring huge time, effort and resource.

Secondly the club needs cash badly, immediately and heading into the medium term, the club is in huge debt. Since they were interested in a 25% stake, we’ve taken on an additional £200 mill in debt from 777, to go with the £270 mill from R&M and Metro bank, so about £470 mill. They’d be taking that on.

The club also requires cash injections of £20 mill month to continue to operate and meet liabilities, which would fall on their shoulders.

While we know from the weekend the rest of the capital required for the stadium also needs to be provided.

MSP might want, none of the above and I wouldn’t blame them. It’s far from a quick and simple - that’s great we’l take control of the club, there are deep deep problems, that require deep deep resources and effort to begin to rectify - they might want none of that.

Also because the PL imposed the conditions of funding the club and paying for the stadium to 777, they would do the same with MSP - they might want none of that - they only have an option, they may not take it.

 

[matty1878]

The rumour is that money loaned by MSP needs to be repaid by the 15th, and if it isn't repaid it is converted to equity and they gain control (51%) of the Club.

do we want that?

 

[GoldenToffee]

do we want that?

Dunno la'. Maybe.

 

[matty1878]

As part of the loan agreement failure to repay/default on the loan means MSP have the option to take 51% of Moshiri`s shares, that would make them the biggest shareholder and have control of the business.

I thought I mentioned this last week...

The loan was meant to be for 25% of the club, they could end up with 51%...

so them and then not 777? And are they any better? so they’d pay 777 the money back?

 

[matty1878]

Dunno la'. Maybe.

everton are less normal than me

 

[Blue peter]

What do we want? We don’t know.

When do we want it? We don’t know.

 

[Frenk]

What do we want? We don’t know.

When do we want it? We don’t know.

And none of us on here really have a bloody clue.

 

[ForeverEverton]

so them and then not 777? And are they any better? so they’d pay 777 the money back?

It would be up to MSP what they did with the club, they could keep it or they could sell it but MSP would be in control of the negotiation and not Moshiri. Or they might do something else.

Of course they might opt not to take the option and negotiate something else.

I`d assume 777 would become an unsecured loan in the event MSP took over or got legged.

 

[matty1878]

It would be up to MSP what they did with the club, they could keep it or they could sell it but MSP would be in control of the negotiation and not Moshiri. Or they might do something else.

Of course they might opt not to take the option and negotiate something else.

I`d assume 777 would become and unsecured loan.

all foreign to me mate
that’s why i ask you all is it good or bad lol