777 Partners / Whatever the hell you like

[kenada_blue]

All that has to happen is the Prem saying "no" to 777. Moshiri will be forced to his knees, and his ability to demand the absurd valuation on his shares will collapse. Someone else can purchase the club in a whirlwind romance of a deal that pays down debt, leaves him with less and doesn't asset strip the club. The league can make that happen, should they wish.

Letting 777 raise the capital to make the purchase happen by selling a partial interest in the stadium permits Moshiri to loot the club to line his own pockets on the way out the door. End of.

It's against the Prem's own rules, and it should be because it's not in the interest of this club or the other nineteen. I expect nothing less than Calvinball from Masters et al at this point, but I would be very concerned if I were the owner of one of the other nineteen clubs. The rules not mattering should bother them.

It's not against the prem rules. The league have never stopped owners taking over a club and indeed have let far more unsavoury characters than 777 in.

The league is only worried about it's self and it's image, not the "integrity of the sport" or indeed any of the clubs that aren't the big draw.

All they'll do is put barriers in place for new owners to hurdle. If 777 do that, they're in. It's up to Moshiri and 777 to pull the plug, not the League.

The level of money involved, the dodgy nature behind the club, only draws in a certain type of buyer. And IMO they'll all be in the same 777 mould (MSP etc)...and would all carry on the same. The only way out it's Saudi/Chinese stupid money.

 

[Martin Alvito]

It's not against the prem rules. The league have never stopped owners taking over a club and indeed have let far more unsavoury characters than 777 in.

The league is only worried about it's self and it's image, not the "integrity of the sport" or indeed any of the clubs that aren't the big draw.

All they'll do is put barriers in place for new owners to hurdle. If 777 do that, they're in. It's up to Moshiri and 777 to pull the plug, not the League.

There are limitations on leveraged purchases that were put in place after Hicks and Gillett. Using the club's assets to provide the required share of equity a prospective owner must stump up runs afoul of those rules.

 

[pfim]

All that has to happen is the Prem saying "no" to 777. Moshiri will be forced to his knees, and his ability to demand the absurd valuation on his shares will collapse. Someone else can purchase the club in a whirlwind romance of a deal that pays down debt, leaves him with less and doesn't asset strip the club. The league can make that happen, should they wish.

Letting 777 raise the capital to make the purchase happen by selling a partial interest in the stadium permits Moshiri to loot the club to line his own pockets on the way out the door. End of.

It's against the Prem's own rules, and it should be because it's not in the interest of this club or the other nineteen. I expect nothing less than Calvinball from Masters et al at this point, but I would be very concerned if I were the owner of one of the other nineteen clubs. The rules not mattering should bother them.

Counterpoint-if they say no to 777 right now, 777 stops putting money into the business and there's a far greater likelihood that we file for Adminstration.

 

[ForeverEverton]

777 and Moshiri keeping the club in a state of Limbo is killing us, another member of staff has resigned and leaves at the end of the season, Dan Rice who was recruited from Southampton last year.

Thelwell also out of contract, Dyche is nowhere near good enough. This club needs a full restructure of the non playing staff, on the playing side and with how the club is, have we made plans for recruitment this summer? Does the DoF know the budget?

We will be so far behind all the other clubs next season, we will be scraping the barrel again... Let`s face it, who wants to be part of this absolute basket case of a club in absolute disarray.

 

[ForeverEverton]

Counterpoint-if they say no to 777 right now, 777 stops putting money into the business and there's a far greater likelihood that we file for Adminstration.

Incorrect, Moshiri starts funding it again, he has said this numerous times.

 

[kenada_blue]

There are limitations on leveraged purchases that were put in place after Hicks and Gillett. Using the club's assets to provide the required share of equity a prospective owner must stump up runs afoul of those rules.

65% leverage to the clubs value. Forbes value us at £700mill or even Moshiri's £500mill for his shares.

Could be wrong but the league just want them to have genuine cash in an escrow and evidence the stadium is covered to be finished to give them the keys.

 

[Librarian]

Weird scenes inside the goldmine

 

[Martin Alvito]

Counterpoint-if they say no to 777 right now, 777 stops putting money into the business and there's a far greater likelihood that we file for Adminstration.

This is when the league should step in to accelerate the vetting process for anyone who would like to step in.

The problem here isn't a lack of takers, and never has been. It's a lack of takers at Moshiri's valuation on his shares. Put his back to the wall, and he'll take less, because he ends up with nothing in administration.

It is in the interest of every other club owner in the league for Everton to be financially healthy. It improves their valuation. The longer they go without a top-flight club experiencing financial collapse, the more secure a prospective investment in any club appears.

 

[Martin Alvito]

65% leverage to the clubs value. Forbes value us at £700mill or even Moshiri's £500mill for his shares.

Could be wrong but the league just want them to have genuine cash in an escrow and evidence the stadium is covered to be finished to give them the keys.

That means 65% to the purchase price, not some third party's valuation. You don't get to put less than 20% down on a conforming first mortgage in the US just because the appraisal comes in for more than the sale price, and you're not allowed to borrow any of the remainder in any form without disclosing it.

That's what the rule means.

 

[Tony’s Carp]

Incorrect, Moshiri starts funding it again, he has said this numerous times.

Well that's good enough for me, he's never lied before.

 

[kenada_blue]

That means 65% to the purchase price, not some third party's valuation. You don't get to put less than 20% down on a conforming first mortgage in the US just because the appraisal comes in for more than the sale price, and you're not allowed to borrow any of the remainder in any form without disclosing it.

That's what the rule means.

So 65% of £500mill then (Moshiri's asking price) which is £325mill.

It doesn't seem like buying Moshiri out is the issue to the league, but turning their current loans into equity, something £30mill cashflow in a escrow, and evidence they can pay rest of the stadium.

 

[Martin Alvito]

So 65% of £500mill then (Moshiri's asking price) which is £325mill.

It doesn't seem like buying Moshiri out is the issue to the league, but turning their current loans into equity, something £30mill cashflow in a escrow, and evidence they can pay rest of the stadium.

That's ridiculous. They lent the club the money after borrowing it from someone else. They just pocket the spread.

That's letting them buy at full leverage, then cure the deficiency by selling a club asset. The league can call it whatever it likes, but it's against the rules.

 

[kenada_blue]

That's ridiculous. They lent the club the money after borrowing it from someone else. They just pocket the spread.

That's letting them buy at full leverage, then cure the deficiency by selling a club asset. The league can call it whatever it likes, but it's against the rules.

It's the league who make the rules though...and they're not stopping it.

People forget that they haven't got as far as they have if its a dead duck or breaking rules.

 

[trueblue84]

777 and Moshiri keeping the club in a state of Limbo is killing us, another member of staff has resigned and leaves at the end of the season, Dan Rice who was recruited from Southampton last year.

Thelwell also out of contract, Dyche is nowhere near good enough. This club needs a full restructure of the non playing staff, on the playing side and with how the club is, have we made plans for recruitment this summer? Does the DoF know the budget?

We will be so far behind all the other clubs next season, we will be scraping the barrel again... Let`s face it, who wants to be part of this absolute basket case of a club in absolute disarray.

Isn't it because James Vaughan is effectively doing that role now?

 

[matty1878]

777 and Moshiri keeping the club in a state of Limbo is killing us, another member of staff has resigned and leaves at the end of the season, Dan Rice who was recruited from Southampton last year.

Thelwell also out of contract, Dyche is nowhere near good enough. This club needs a full restructure of the non playing staff, on the playing side and with how the club is, have we made plans for recruitment this summer? Does the DoF know the budget?

We will be so far behind all the other clubs next season, we will be scraping the barrel again... Let`s face it, who wants to be part of this absolute basket case of a club in absolute disarray.

probably sold him