777 Partners / Whatever the hell you like

[Narntwinnysivven]

mate but even before the war in ukraine benitez first season we spent next to nothing so something was going on even back then

Defo. Benitez said when he was sacked that people don’t really know how bad things are behind the scenes.

 

[Narntwinnysivven]

Someone I work with mentioned administration to me months ago before the last set of accounts came out and I thought they were just waffling.

Wonder if this is why the last accountants handed the books back and legged it?

 

[Moderatelywarmwater]

Heres an idea

kenwrights made the best part of £250m profit from selling The club. How about he puts his hand innhis pocket for the club he loves so much? Eh?

 

[evertony]

Things are grim and all these loans we are taking out are a massive problem BUT it would be a worse sign if no one was willing to give us the loans. If we were on the brink then MSP / R&M / 777 surely wouldn’t be taking the risk.

Could argue it’s quite the contrary. Administration would presumably mean they could acquire Everton Football Club PLC and any of its assets for a song. In some respects that could clear the debt and allow a quicker rebuild from imposed relegation.

 

[mahermi1]

They must know that they'll never see that money back? Our cashflow is in the gutter, so if they're charging 18% on "tens of millions" how do we not default? I don't understand 777s business model at all.

If we have been stupid enough to take a loan off them for that much at 18% then the Owner wants locking up and we deserve to fold.

 

[Tommy Chong]

Sounds a bit like how the Mafia works.

Well, 18% interest is in line with what a loan shark would charge.

 

[barneygumble]

Perhaps , but the invasion and occupation of Crimea happened earlier and maybe should have alerted us , especially as Usmanov was named by the UN of being complicit in aiding that invasion.
Hindsight is wonderful , but foresight is far more valuable.
Don’t lose sight of that fact as a far nastier and more rapacious set of vultures are about to alight on our dying club and engorge themselves on what’s left .

Just said a second ago something similar.

Usmanov clearly knew something was amiss and that’s why he remained “silent”.

His relationship was very shady and we should have stayed well clear. But no one knew it would happen when it did, the worst possible time.

777 are undoubtedly worse, their eyes are on one thing and that’s owning the stadium and fleecing us for eternity.

 

[KaiserEFC]

Sounds like the club is kicking the administration can down the road to me.

 

[Narntwinnysivven]

What assets?
Any asset stripper who thinks they will make a quick return on Everton FC is in for a very nasty shock.

The real money in football is in the capital gain when an owner eventually sells their share in the club.

Look at the value of the more successful clubs.... they are fetching several billion.

Obviously the difficult part is to take a stagnating club and make it successful... Moshiri found that out the hard way.

They’ll get their hands on BMD without having to hand a penny over to Moshiri and charge extortionate rent and you know what happened the last time this happened

 

[Moderatelywarmwater]

Things are grim and all these loans we are taking out are a massive problem BUT it would be a worse sign if no one was willing to give us the loans. If we were on the brink then MSP / R&M / 777 surely wouldn’t be taking the risk.

Rights and media have just taken out a charge against the club. It seems like they’ve asked for more property to secure their loans.

777 are charging 18% interest it seems

this is last chance saloon

 

[Ferguson1878]

like to drop these little grenades just before bed aswell don’t they

 

[Dixie1sixty]

Great to see so many wetting the bed because someone has mentioned 18% interest rates on Twitter.

Get a grip ffs.

 

[Mrbluenose]

Sounds like the club is kicking the administration can down the road to me.

Yeah, very much feels like it's coming.

 

[Moderatelywarmwater]

Great to see so many wetting the bed because someone has mentioned 18% interest rates on Twitter.

Get a grip ffs.

pretty much common to see 12-15% quoted for loans form other companies right now. So it doesn’t seem at all impossible

 

[Street end man]

This stadium is causing far more grief than it's worth.