777 Partners / Whatever the hell you like

[HalfTimeSayers]

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.

They cannot pull the plug. Unless they have done something that immediately disqualifies them from owning a club, 777 can keep saying “we will prove we have the money” for the next 10000 years. Just the same way I could. That’s the rule. They can’t be rejected, they can only be not approved, ad infinitum.

Only Moshiri telling them to sling their hook, or 777 giving up can end the charade. And clearly neither party seems to want to do that.

 

[Clarky cat]

They cannot pull the plug. Unless they have done something that immediately disqualifies them from owning a club, 777 can keep saying “we will prove we have the money” for the next 10000 years. Just the same way I could. That’s the rule. They can’t be rejected, they can only be not approved, ad infinitum.

Only Moshiri telling them to sling their hook, or 777 giving up can end the charade. And clearly neither party seems to want to do that.

We have seen with our own eyes what they can and cannot do this season. They can do whatever they want with zero repercussions. They can almost certainly kick 777 into the sun if they really wanted to.

 

[Eggsyblueskin]

We have seen with our own eyes what they can and cannot do this season. They can do whatever they want with zero repercussions. They can almost certainly kick 777 into the sun if they really wanted to.

They can’t unless they have valid grounds to disqualify them.
Not having the proof of finance at the point of asking isn’t sufficient since they could arguably obtain it at a later date and then gain approval.
As they are indeed attempting to do .

 

[BlueStevie35]

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

Why are you even reading that garbage comic?

 

[AndyRJ]

Would it? I mean, that wouldn’t stop the acts of Usmanov over the years and him having been part of the Russian mafia cartel.

Well I didn't necessarilly mean getting Usmanov back involved, the war in Ukraine is having a negative effect on all manor of things, one of which is undoubedtly Moshiri's access to cash due to his investments in Russian related companies.

Usmanov may continue to be a sanctioned individual but the termination of Putin and replacement with a more 'friendlier' individual would go a long way towards reducing sanctions on Russian related companies/ entities and hopefully Moshiri's ability to fund us in the short to medium term.

 

[HalfTimeSayers]

We have seen with our own eyes what they can and cannot do this season. They can do whatever they want with zero repercussions. They can almost certainly kick 777 into the sun if they really wanted to.

It is crazy. But the ownership tests are what they are. Approving people that should never be approved is one thing. No one did nothing other that raise an eye brow to Newcastle. But blocking a purchasor who hasn’t broken any rules, just hasn’t made it over the hurdles would expose them very easily to legal challenge.

Everyone speculated that there is nothing stop potential owners applying again and again and again to pass the tests. Masters wrote to FAB last week confirming the same. If there is no disqualifying event (which issue would be criminality or conflict of interest, such as owning another club), they cannot call time on this stupid process. They clearly can’t disqualify them, so on it goes.

They can’t actually stop Mosh selling to 777. He can sell his company to anyone he wants, but that new owner has to meet the rules in order for the company/team he or she owns to be a member of the PL. So what would be the point.

Masters very correctly hinted that Moshiri could/should consider other options.

 

[Blue peter]

Well I didn't necessarilly mean getting Usmanov back involved, the war in Ukraine is having a negative effect on all manor of things, one of which is undoubedtly Moshiri's access to cash due to his investments in Russian related companies.

Usmanov may continue to be a sanctioned individual but the termination of Putin and replacement with a more 'friendlier' individual would go a long way towards reducing sanctions on Russian related companies/ entities and hopefully Moshiri's ability to fund us in the short to medium term.

Not sure you will get a ‘friendlier replacement’….democracy is dead in Russia, there is no effective opposition, e.g. a more liberal, progressive opposition. I suspect any replacement for him would be a like minded individual from the same machinery, sanctions will continue beyond his tenure in my opinion until war reparations have been compensated.

 

[AndyRJ]

Not sure you will get a ‘friendlier replacement’….democracy is dead in Russia, there is no effective opposition, e.g. a more liberal, progressive opposition. I suspect any replacement for him would be a like minded individual from the same machinery, sanctions will continue beyond his tenure in my opinion until war reparations have been compensated.

Most probably.

That being said, I think there's more chance of Putin being disposed of and replaced with a 'friendlier replacement' than us being bought out by some wealthy owner/ consortium and making us competetive.

 

[Blue peter]

Most probably.

That being said, I think there's more chance of Putin being disposed of and replaced with a 'friendlier replacement' than us being bought out by some wealthy owner/ consortium and making us competetive.

I think we are more likely to find life on Mars than have anything go positively in respect of the ownership issue - we seem to be a club that’s afflicted at ownership/executive level with selfishness, misplaced arrogance, ineptitude, and bad luck.

 

[Joey66]

So many unnvestors waiting to set in - Where are they?

 

[Moderatelywarmwater]

Though something might have leaked over the weekend. Clearly not. Who knows what tomorrow brings (probably an extension for 777 I’d imagine, but anything seems possible).

 

[ForeverEverton]

In the terms of 'All things Everton' this would shock me the very least.

Probably been said before but if MSP take control, it will be for 50% + 1 share, not 51% of Moshiri`s shares...

Being that Moshiri will still own 50% of his shares, 47% of the club PLUS his portion of the MSP shares, don`t forget that Moshiri put c£20m in to that £158m MSP loan, it would still make him the majority shareholder...

Like someone said earlier, originally Moshiri wanted MSP to have 25% of the club with him as 74%, being as he has 94% of shares.

Perhaps MSP do take up the option with Moshiri and MSP running as near equal partners which also takes in to account 50% each of the debt.

But my guess is that MSP accept 777 request for extension and this goes on for a few months yet... FFS Moshiri just bin off 777.

 

[IrishBlue2022]

Why are you even reading that garbage comic?

It's in the name Skumar55.

 

[AndyRJ]

Probably been said before but if MSP take control, it will be for 50% + 1 share, not 51% of Moshiri`s shares...

Being that Moshiri will still own 50% of his shares, 47% of the club PLUS his portion of the MSP shares, don`t forget that Moshiri put c£20m in to that £158m MSP loan, it would still make him the majority shareholder...

Like someone said earlier, originally Moshiri wanted MSP to have 25% of the club with him as 74%, being as he has 94% of shares.

Perhaps MSP do take up the option with Moshiri and MSP running as near equal partners which also takes in to account 50% each of the debt.

But my guess is that MSP accept 777 request for extension and this goes on for a few months yet... FFS Moshiri just bin off 777.

It wouldn't because MSP as an entity would hold the majority of the shares, not Moshiri as an individual.

So despite Moshiri holding some shares in the MSP consortium, it wouldn't make him majority shareholder of the club.

 

[Walken]

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.

Yeah, but apart from that