777 Partners / Whatever the hell you like

[Moderatelywarmwater]

No one cares about that. Only about Russia expanding further into Europe

I care about that. I’m disgusted we ever had any association with the piece of filth

 

[pfim]

I care about that. I’m disgusted we ever had any association with the piece of filth

The people who get to decide who does and doesn’t own PL football clubs don’t care.

 

[Eggsyblueskin]

If only someone would just shoot Putin in the back of the head, would probably be the quickest way of resolving our current problems!

Not really .
Usmanov was identified as a key ally in the Crimean invasion.
No way he or his money will be allowed back into Britain , that door has closed for good.

 

[jazzy]

It was the original intention until R&MF scuppered it.
And it’s the most logical outcome if 777 fail to come up with the dosh on Monday ( assuming MSP haven’t allowed them an extension and there has been nothing to suggest this so far ).

Yes but it still leaves us in hock to 777. Does anyone know the terms of the loans and if not converted to equity when they have to be repaid.

 

[Neiler]

Yes but it still leaves us in hock to 777. Does anyone know the terms of the loans and if not converted to equity when they have to be repaid.

The present cash calls and the uncertainty about our PL future our, are our biggest difficulty.

We can restructure our debt, with the right owner.

What that means, is you roll up the high interest debt, R&M, 777, MSP - depending on who is buying. Borrow that amount at a longer term better rate of interest and pay off 777, R&M or MSP. Its prob to late for MSP mind.

The result is you have one big long term debt, that's serviceable and manageable.

 

[summerisle]

Anyone want to get a consortium together? I’ve got £53 to put in

Didn't win the Euromillions, so the deals off.

 

[CielosGrises]

The present cash calls and the uncertainty about our PL future our, are our biggest difficulty.

We can restructure our debt, with the right owner.

What that means, is you roll up the high interest debt, R&M, 777, MSP - depending on who is buying. Borrow that amount at a longer term better rate of interest and pay off 777, R&M or MSP. Its prob to late for MSP mind.

The result is you have one big long term debt, that's serviceable and manageable.

To get the lower interest rate I think you'd need some sort of guarantor - problem is right now is that our credit risk must be extremely high.

I guess the point is - the loans / rates right now represent the situation we are in.

 

[perth_blue]

To get the lower interest rate I think you'd need some sort of guarantor - problem is right now is that our credit risk must be extremely high.

I guess the point is - the loans / rates right now represent the situation we are in.

Can't they be mortgaged against income (TV rights) and the stadium? Plus new/different owners may have additional assets to put up as well.

 

[skumar55]

The Scum paper saying we are struggling with our next payment for stadium build ;-(

 

[allen]

The Scum paper saying we are struggling with our next payment for stadium build ;-(

We’re struggling with all payments for all things.

 

[Neiler]

To get the lower interest rate I think you'd need some sort of guarantor - problem is right now is that our credit risk must be extremely high.

I guess the point is - the loans / rates right now represent the situation we are in.

In a way its a perfect storm,

1) Interest rates were at an all time low and Covid and Ukraine pushed them up, this caught us with our pants down. This pushed us toward high interest dodgy credit away from institutional lenders.

2) Mohsiri is toxic, his association with Oligarchs, Russia and USM, the murkiness of his private asset wealth and concerns about his personal cashflow mean mainstream lenders dont want to touch him.

3) The business is significantly loss making, with big risks to revenue generation with relegation risk and likely two relegation battles before the stadium opens it doors - no bank wants to take that on.

4) The stadium - loads of people will want to lend to a completed stadium, not many will want to lend to a half built one, especially to a cash hungry owner and club.

5) The uncertainty over ownership, league status and the PSR existential piece currently wont be helping.

The above is moving somewhat in the sense, that is the last set of accounts the stadium was valued as an asset at 400 mill + to the club - really that asset wont be realised until its open and starts generating revenue and we can depreciate, yet it in itself based on value at that point can act as security, thus as i said during the week id be furious if BMD left the clubs ownership.

 

[Moderatelywarmwater]

We’re struggling with all payments for all things.

If 777 don’t pay more cash we won’t meet it. That simple I would suspect.

 

[Tony’s Carp]

If 777 don’t pay more cash we won’t meet it. That simple I would suspect.

Think the most likely outcome of the MSP situation is if they don’t want to take control themselves they’ll be happy to grant 777 an extension til the end of the season to see how things shake out. Granting the extension pretty much forces 777 to keep funding things til the end of May.

 

[Clarky cat]

It certainly seems that the Premier league want to kill the club one way or another. Stringing these chancers along, saddling the club with more unattractive debt which has little to no chance of being converted to equity because serious adults won’t engage with them or lend them money to finance their buyout of Moshiri because of their moribund track record.
The league not pulling the plug months ago and punishing our moronic and dangerous owner, who is the main reason for all of this mess, has in all likelihood screwed the club as a whole. The Premier league is equally as dangerous as Moshiri.

 

[Bob Elstone]

Hopefully tomorrow is the end of the association with these cowboys borrowing from everywhere.