Topic: Everton - The 777 Unflushables

[A Red Abroad]

"...according to a person familiar with the matter"

Bloody 'news speak'

 

[Peabee]

Bloomberg reporting that MSP Capital are looking at a takeover if 777 goes kaput. Paywall though

US investment firm MSP Sports Capital is exploring a takeover of Everton FC as the current bid for the Premier League football club falters, according to a person familiar with the matter

Probably a cabbie claiming he heard it from a fare who works in finance (Deborah, a cashier at Halifax). They're always blues. What is it with driving a taxi and supporting Everton?

[rafathegaffa83]

Any rumours of this?

There is the claim that Tim Cahill would be the public face of  bid from a buyer from Qatar or some other petrostate

[Smellytrabs]

Everton are like making love to a beautiful woman

You think they're about to go down...

...but never do. Then in order to get rid of the wood you find yourself on the Dock Road paying for something you can't really afford.

[LovelyCushionedHeader]

Bloomberg reporting that MSP Capital are looking at a takeover if 777 goes kaput. Paywall though

US investment firm MSP Sports Capital is exploring a takeover of Everton FC as the current bid for the Premier League football club falters, according to a person familiar with the matter

Probably realising it's the easiest way for them to get their money back. Acquire the club at a vastly reduced rate, then flip it as soon as they become somewhat more viable.

[MrGrumpy]

Bloomberg reporting that MSP Capital are looking at a takeover if 777 goes kaput. Paywall though

US investment firm MSP Sports Capital is exploring a takeover of Everton FC as the current bid for the Premier League football club falters, according to a person familiar with the matter

MSP apparently own Brondby in Denmark, Estoril in Portugal and Augsburg in Germany.


How a club in need of at least a billion quid fits in to this portfolio is beyond me.

[gazzam1963]

This may be the pre cursor to the end of season dvd

https://forevereverton.co.uk/products/you-lost-the-league-at-goodison-park-everton-mug

[Dr. Beaker]

Probably a cabbie claiming he heard it from a fare who works in finance (Deborah, a cashier at Halifax). They're always blues. What is it with driving a taxi and supporting Everton?

Something to do with clocks.

[Dr. Beaker]

...but never do. Then in order to get rid of the wood you find yourself on the Dock Road paying for something you can't really afford.

[SamLad]

talking about getting rid of wood, in a thread about the Bitters.

well played.

[12C]

Bloomberg reporting that MSP Capital are looking at a takeover if 777 goes kaput. Paywall though

US investment firm MSP Sports Capital is exploring a takeover of Everton FC as the current bid for the Premier League football club falters, according to a person familiar with the matter

MSP could have taken control last month without having to spend a penny
Eve777ton defaulted on their loan, that meant the MSP could have taken over 51% of Moshiri’s stake and gained control of the club.
Or they could have taken BMD in lieu of the debt. However, they would have had to pay to finish the stadium.
They gave an extension, because then Moshiri will be sinking further into the mire of debt, borrowing the money to complete the stadium. Ideally for them, they call the loan default just before the stadium is completed, get it for nowt in effect, pay a few million to complete the build,  and then Everton go bust and they pick up the football side of things as well if they want.
However, it is clear that anyone coming in would have significant debts to clear and then address the problem of a £20 a month shortfall in revenue to costs  simply to keep the lights on.

[DaveLFC]

This may be the pre cursor to the end of season dvd

https://forevereverton.co.uk/products/you-lost-the-league-at-goodison-park-everton-mug

The only way they will ever lift a cup.

[Peabee]

MSP could have taken control last month without having to spend a penny
Eve777ton defaulted on their loan, that meant the MSP could have taken over 51% of Moshiri’s stake and gained control of the club.
Or they could have taken BMD in lieu of the debt. However, they would have had to pay to finish the stadium.
They gave an extension, because then Moshiri will be sinking further into the mire of debt, borrowing the money to complete the stadium. Ideally for them, they call the loan default just before the stadium is completed, get it for nowt in effect, pay a few million to complete the build,  and then Everton go bust and they pick up the football side of things as well if they want.
However, it is clear that anyone coming in would have significant debts to clear and then address the problem of a £20 a month shortfall in revenue to costs  simply to keep the lights on.

They could cancel their Netflix and Prime subs to cover that. 

[Black Bull Nova]

Has anyone got a  broad assets and liabilities status on them at this moment including income and outgoings?

[JRed]

They could cancel their Netflix and Prime subs to cover that. 

Still leaves them a couple of quid short so they’d have to sell Beto.

[Black Bull Nova]

Still leaves them a couple of quid short so they’d have to sell Beto.

That would only raise half the money

[Anthony]

Has anyone got a  broad assets and liabilities status on them at this moment including income and outgoings?

Too much red!

[Terry de Niro]

Still leaves them a couple of quid short so they’d have to sell Beto.

Have they actually bought him yet?

[Brain Potter]

Have they actually bought him yet?

Don’t they have an obligation to pay £26m for him this summer.
I think they bought him on a buy now pay next year deal.

[Terry de Niro]

Don’t they have an obligation to pay £26m for him this summer.
I think they bought him on a buy now pay next year deal.

So they haven't bought him then? 

[Kennys from heaven]

Fucking worst soap opera ever, is this...There are so many flies around this particular turd that I've lost track of what's actually happened

Last I recalled, there was still a potential points deduction for them this season should they not be able to meet their committments once again? Should the takeover happen, then surely that will still be a possibility?

And also, have they not - despite saying they'd broken the rules and taking a reduced deduction from the PL for co-operating with them - amazingly then appealed and are waiting for that to be heard? Or has that gone?

What is the truth here? Still holding out hope that not only will Man City and Arsenal lose all their games and we win ours, but also that these get flushed as well...

[BOBSCOUSE]

...but never do. Then in order to get rid of the wood you find yourself on the Dock Road paying for something you can't really afford.

What a wonderfully positive change in outlook that is for an Everton fan though, going from the wood and booing at Goodison, to potentially having the clap on the Dock Road - absolutely, delightfully what they deserve!!

[TepidT2O]

Have they gone bust yet?

[So… Howard Philips]

Have they gone bust yet?

Well,they’ve earned a stay of execution so they can feed of the tit of the Corrupt PL again next season, but the Corrupt PL could still consign them to financial misery if they approve the 777 takeover or, alternatively if they decide not to approve the take over.

Just to think in a month or so’s time we’ll be lambasting FSG as Mingebags Supreme whilst Everton fans are keeping their eyes on the High Court Listing for Winding Up Orders.

[A Red Abroad]

Still holding out hope that not only will Man City and Arsenal lose all their games and we win ours, but also that these get flushed as well...

Love it! 

 

[Brain Potter]

It’s so bad that even ‘The Esk’ in his blog today is predicting that administration is inevitable..
The structure and size of the debt is such that no new buyer would take on the liability..

[FiSh77]

...but never do. Then in order to get rid of the wood you find yourself on the Dock Road paying for something you can't really afford.

[cptrios]

So…do loans not count against FFP/PSR/etc.? If they’re borrowing £20m a month just to keep the lights on, does that not mean they’re losing £20m a month?

[Terry de Niro]

It’s so bad that even ‘The Esk’ in his blog today is predicting that administration is inevitable..
The structure and size of the debt is such that no new buyer would take on the liability..

Truly worrying times ™

[12C]

So…do loans not count against FFP/PSR/etc.? If they’re borrowing £20m a month just to keep the lights on, does that not mean they’re losing £20m a month?

There is a £20m gap between revenue and expenditure every month.
That’s £240m a year.
They will try to tell  you that it is for the stadium.
They still haven’t secured the loan for the completion yet. They owe £200m to MSP and are overdue on the repayment.
Those Covid losses are being put in their true light now aren’t they.

[TepidT2O]

Who cares about PSR? The loans are so fucking enormous that they can’t pay the interest on them and they’re borrowing more to do so. Everyone else pays off loans. Not the blue lot. What this means is that all their cash goes into paying off loans, so they’re fucked.

Probably the only realistic way out of it is either an oil state (never going to happen) or MSP and R&M come to some kind of ownership fudge, see out the storm and hope to sell the club for much more money in the medium to longer term.

It’s not really a greta option, but it’s their best option if it happens

[Crosby Nick]

[JC the Messiah]

 

[TepidT2O]

Urgh greta

[sonnyred]

Everton are gone, they are finished. They don't have the revenue to pay back the interest on their loans, or for the day to day running of the club. And they certainly don't have the revenue to pay both. I thnik they'll enter administration in the very near future because I don't see an alternative path unless an oil state buys them. But they are too heavily in debt and not the most attractive club. It's over, they will be flushed.

[Crouch Potato]

Basically, any sensible Everton fan is praying that 777 DON'T get given the green light. They know that if that happens they are much more likely to go bust.

[4pool]

They're going bust anyway.

How can you need £20m a month over and above other income just to keep operating.

That's £240m a year.

Why would any investor or group buy Everton to find it hemorrhaging money it doesn't have and not enough income to stop the hemorrhaging. That's the rub.

[MightyReds]

If they go into administration, do they get relegated?

[Brain Potter]

If they go into administration, do they get relegated?

They have the funds to get to the end of the season (recently borrowed from 777), so if they went into administration in the close season they’d start next season on -9..

[No666]

Talk in The Telegraph about Andy Bell, George Downing and MSP being approached to take over, presumably briefed by Moshiri/the club. Which means there's no mystery buyer waiting in the wings.

'Dealmakers believe Liverpudlian investors Andy Bell and George Downing, who already have money tied up in the club, would be seriously interested in at least part-ownership. The pair could be approached to form a consortium with MSP, one insider suggested, as the chances diminish of Miami-based 777 assuming control.'