777 Partners / Whatever the hell you like

[Tony’s Carp]

Everton paid £30m in interest to lender with links to tax exile, documents suggest

Exclusive: Charges relate to £225m debt with Rights & Media Funding, with records suggesting a trail leading to Michael Tabor

www.theguardian.com

Another good news story.

I do sometimes wonder what “services” an accountant could possibly provide that would make him a billionaire.

When you look at some of the money that’s come into and gone out of this club over the years and some of the transactions we’ve been party to, maybe that provides some sort of answer.

We wonder why he’s so determined to sell to a company as dodgy as 777, maybe it’s because they’re “on the same page”.

 

[allen]

I do sometimes wonder what “services” an accountant could possibly provide that would make him a billionaire.

It certainly helps to be a shady Russian oligarch's accountant in that respect.

 

[efcfanwirral]

I do sometimes wonder what “services” an accountant could possibly provide that would make him a billionaire.

When you look at some of the money that’s come into and gone out of this club over the years and some of the transactions we’ve been party to, maybe that provides some sort of answer.

We wonder why he’s so determined to sell to a company as dodgy as 777, maybe it’s because they’re “on the same page”.

I don't think its his accountancy work that's made him that rich, he started off in the corporate world doing that but he's been Chairman/CEO of various massive companies since around 2000, which is where the real money will have come from.

His Wikipedia says this:

Moshiri worked for various professional services firms including Ernst & Young (1979–1985), Pannell Kerr Forster (1985–1987) and Deloitte & Touche (1987–1992), latterly as a senior manager in Deloitte's audit division.[4] Between 1993 and 2006, he served as Executive Director of GNE Group plc and later served as Chief Executive Officer of Europe Steel Limited (formerly Europe Steel plc) from 2000 to 2008. Between 2006 and 2013, he served as the chairman of Metalloinvest, following which he was appointed as chairman of USM Holdings. He resigned as Chairman of USM Holdings on 2 March 2022 following the Russian invasion of Ukraine.[5][6]

 

[kenada_blue]

Why would they suddenly find the money at this stage? lol clearly they do not and have never had the money to buy us. I’ve never for one single second thought these chancers were gonna actually take over.

I've always said theyd find £200mill, got the feet under the table, and leverage/loan the rest against their "billion dollar portfolio".

I'm guessing they thought that would do until the PL didn't want it "on paper" they want to see...

Turn the £160m they had loaned the club so far into equity (probably were doing that anyway)
£90mill commitments to funding the rest of the stadium development
£60m in an Escrow account
£158m loan owed to MSP Capital Andy Bell and George Downing.

There's so many parties involved and not one (MSP or Andy Bell) have put the brakes on it yet.

So something is happening.IMO

 

[Jokerdan]

777 don’t have the money to buy us .
They couldn’t have passed the most cursory of checks.
They blatantly hoped to bs their way into ownership as they have done elsewhere .
Whatever you think of the PL , they are 100% correct in withholding approval from this group.
Everything they have loaned us is borrowed from a third party.
Whatever you think the purpose of the rules on this occasion they are protecting us from very poor owners .

Hypothetical question, but any chance we can sue the PL for constantly pushing back on reaching a decision on the viability of 777 as potential new owners when it's clear for all to see that they are not...nor never will be?

Realistically, though, the 'exclusivity' period granted by Moshiri to 777 ought to have expired long ago and it is this that is damaging our ability to draw in any alternative interest and, ultimately, our Club. This is down solely to Moshiri - what is wrong with this fella? Clearly he wants out and, in doing so, to recover as much of any monies he has previously invested but the longer this continues the less likelihood of this happening.

 

[pfim]

Everton paid £30m in interest to lender with links to tax exile, documents suggest

Exclusive: Charges relate to £225m debt with Rights & Media Funding, with records suggesting a trail leading to Michael Tabor

www.theguardian.com

Another good news story.

So basically they found a more favorable auditing firm to re-class the interest payments? Not definitive, but that's what I get from the story.

 

[SLAVEN BILIC]

The strangest thing in this whole situation is that multiple people or groups are making Peter Johnson look like a saint and model owner!!

How is that even possible?

 

[efcfanwirral]

So basically they found a more favorable auditing firm to re-class the interest payments? Not definitive, but that's what I get from the story.

I remember the rumours about an accountancy firm resigning on principle because they wouldn't sign off the accounts. That's making more sense now

 

[pfim]

I remember the rumours about an accountancy firm resigning on principle because they wouldn't sign off the accounts. That's making more sense now

There will be a further points deduction coming unless they have something from RMF stating they can use the money for the stadium.

 

[Eggsyblueskin]

Hypothetical question, but any chance we can sue the PL for constantly pushing back on reaching a decision on the viability of 777 as potential new owners when it's clear for all to see that they are not...nor never will be?

Realistically, though, the 'exclusivity' period granted by Moshiri to 777 ought to have expired long ago and it is this that is damaging our ability to draw in any alternative interest and, ultimately, our Club. This is down solely to Moshiri - what is wrong with this fella? Clearly he wants out and, in doing so, to recover as much of any monies he has previously invested but the longer this continues the less likelihood of this happening.

I doubt they could sue , the criteria had to be met and they have clearly failed to meet it .
PL only approve what is placed before them , if the proof of finance is not sufficient they cannot approve it.
It is 777 who have caused the delay not the PL.
Moshiri should never have granted an extension to 777 when they had failed to find proof of finance after 5months or so of bluster and pure bs.

 

[Simon Buttle]

Hypothetical question, but any chance we can sue the PL for constantly pushing back on reaching a decision on the viability of 777 as potential new owners when it's clear for all to see that they are not...nor never will be?

Realistically, though, the 'exclusivity' period granted by Moshiri to 777 ought to have expired long ago and it is this that is damaging our ability to draw in any alternative interest and, ultimately, our Club. This is down solely to Moshiri - what is wrong with this fella? Clearly he wants out and, in doing so, to recover as much of any monies he has previously invested but the longer this continues the less likelihood of this happening.

What are we suing them with? Legal cases like this cost a vast amount of money and take a fair old while to come to fruition. We can barely stay afloat at the moment.

 

[pfim]

What are we suing them with? Legal cases like this cost a vast amount of money and take a fair old while to come to fruition. We can barely stay afloat at the moment.

And what for? Moshiri could walk away at any moment. No one is forcing the club to continue this.

 

[Eggsyblueskin]

I've always said theyd find £200mill, got the feet under the table, and leverage/loan the rest against their "billion dollar portfolio".

I'm guessing they thought that would do until the PL didn't want it "on paper" they want to see...

Turn the £160m they had loaned the club so far into equity (probably were doing that anyway)
£90mill commitments to funding the rest of the stadium development
£60m in an Escrow account
£158m loan owed to MSP Capital Andy Bell and George Downing.

There's so many parties involved and not one (MSP or Andy Bell) have put the brakes on it yet.

So something is happening.IMO

Its rank amateurism on the behalf of 777 , running to another investment group at this point to try to get the finance they pretended to have.
I thought they were bad owners but good con men.
It turns out they aren’t even good con men.
Time to jib these chancers off once and for all.

 

[Street end man]

Is Moshiri looking to walk away with a good chunk of the money he's put in, or just looking to clear the debts he has and call it a day. Can't for the life of me see how he can recoup any of his/Usmanov's wasted millions now.

 

[Simon Buttle]

Its rank amateurism on the behalf of 777 , running to another investment group at this point to try to get the finance they pretended to have.
I thought they were bad owners but good con men.
It turns out they aren’t even good con men.
Time to jib these chancers off once and for all.

Given they seem to turn up at matches all the time has/is there any banners or flags telling them that they are not welcome here?