Just not sure why this MSP thing is coming down to the wire.
This deadline always existed, whether 777 could close the deal or not, and regardless of what the PL stipulated. That they let it get to this is mind boggling/par for the course for them.
My understanding was, and i can't recall where i read this, that 777 were going to pay MSP back by selling equity (25%) in the Club once the sale had gone through.
This finance raise thing they have got on pause with Tifosy Capital would be re-booted with the hope of a better outcome. I expect that had they not been able to sell the necessary equity then they would just make MSP whistle for it, like they have done with numerous other debts they have failed/ been late paying back.
Obviously the deal hasn't gone through (and can't until the debt is paid) so they can't reboot this capital raise and being the broke cowboys they are, they also don't have the liquidity to just pay MSP what they are owed. Hence the mad scramble to now borrow the money from elsewhere.
I hope that MSP don't extend the deadline and demand payment immediately. That is the quickest way of bringing this whole thing to a close because Moshiri will either have to pay it OR he'll have to find an alternative buyer who is able to OR we go into Administration.
I don't think Administration will happen as i'm sure MSP would exercise their option before allowing that to happen or extend the deadline to allow 777 or someone else to find the money.
The fact that 777 and Moshiri have let it get to this stage though is absolutely mind boggling. 777 clearly haven't got a pot to pee in and the only way they can afford the purchase is by loaning heavily from elsewhere and on a 'buy now pay later' deal with Moshiri.
The thing that worries me the most is that, is this down to Moshiri wanting too much for his equity (is the reported £60-120m too much??) OR is it simply down to the fact we're in so much debt and such a basket case of a club that literally no-one is interested?
