Topic: Everton - The 777 Unflushables

[Ray K]

Guardian explainer says they owe RMF £225 m at 10.25% interest.
https://www.theguardian.com/football/2024/apr/30/everton-crisis-explained

That is mental

Good grief. Is Liz Truss their CFO or something?

[rafathegaffa83]

Guardian explainer says they owe RMF £225 m at 10.25% interest.
https://www.theguardian.com/football/2024/apr/30/everton-crisis-explained

That is mental

A really good summary that any major outlet should have been highlighting months ago. Never a good sign when major financial institutions aren't interested in helping you out . Their approach to stadium financing screams they were hoping for government investment to bail them out at some stage

[sminp]

777 sound like Ponzi schemers

They’re crooks. I reckon it’ll be the end of Everton if they eventually get their takeover approved. The problem for Everton is that’ll probably also be the end of them if the 777 takeover isn’t approved. They really are up shit creek without a paddle.

[Fromola]

I think there are some very dark days ahead for Everton. I don't live locally so in a way I'm not qualified to say it, but I almost don't begrudge them the derby win, as that might be it, for a very long time.

They could scab their way out of anything.

They'll still be dogs of war-ing their way to 15th place next season.

[disgraced cake]

They’re crooks. I reckon it’ll be the end of Everton if they eventually get their takeover approved. The problem for Everton is that’ll probably also be the end of them if the 777 takeover isn’t approved. They really are up shit creek without a paddle.

Keep going, I'm almost there

[DHRED]

They’re crooks. I reckon it’ll be the end of Everton if they eventually get their takeover approved. The problem for Everton is that’ll probably also be the end of them if the 777 takeover isn’t approved. They really are up shit creek without a paddle.

Storm clouds gathering over Goodison, literally and figuratively..

[Ray K]

Keep going, I'm almost there

[rafathegaffa83]

Also I know media organizations are now about transfer clicks rather than investigative journalism but revealing more about a company with zero employees that a PL club owes more than £200m to would make a career about a decade ago

[ScubaSteve]

Also I know media organizations are now about transfer clicks rather than investigative journalism but revealing more about a company with zero employees that a PL club owes more than £200m to would make a career about a decade ago

I think all the media want this club relegated. They’re toxic

Albeit I do feel a bit sorry for my bluenose friends

[FiSh77]

A bit like Chelsea anybody wanting an Everton player this summer needs their head looking at. Speaks volumes that at this point last season they had Onana and Pickford in the shop window for the right price. Right now, crickets.

Fixed that for yer

[thegoodfella]

So, how much of this is Rafa's fault?

[Brain Potter]

From the guardian article.....

"When companies fall into financial difficulties, directors are required to take professional advice and closely monitor a business’s finances to ensure that they are not trading while insolvent".

So the EFC directors have to take this advice when they are in serious difficulties, but aren't they basically insolvent already...without a monthly pay day loan they can't pay the running costs...it's completely mad. 

[Fromola]

They'll still demand the earth for Branthwaite and refuse to sell anyone cheap.

[TepidT2O]

They'll still demand the earth for Branthwaite and refuse to sell anyone cheap.

We really really ought to bid for him just to drive them over the edge.

[SK8 Red]

We really really ought to bid for him just to drive them over the edge.

I know you are joking but he's not good enough for where we need to be

[Black Bull Nova]

We really really ought to bid for him just to drive them over the edge.

£2m and a penny just to wind them up
They will be OK, they will appeal against adminstration and have a mass protest on county road, what is anybody worried about.