Topic: Everton - The 777 Unflushables

[Eeyore]

This was from when GDA Luma was being formed.


GDA Luma’s strategy is expected to build on de Alba’s experience. It will invest in distressed mid-market businesses operating in pharma and healthcare, hospitality, technology, media and telecom and other sectors, sources told Buyouts. Opportunities will be sourced mostly in North America, as well as in the UK and Europe.

Dealmaking will aim to gain control of, or significant influence over, companies undergoing distress, sources said. This will be done by acquiring over-collateralized debt at a discount to intrinsic value and below liquidation value.

Sounds pretty ominous for the Bitters.

I look forward to the vultures fighting over the carcass of Everton.

[So… Howard Philips]

Sell it to some dodgy company, such as 777, and pay them an extortionate rent. It won’t be long til they can just hand over the keys as any sale would only cancel out the debt.

With their rental history they’ll have difficulty getting a reference.

[rafathegaffa83]

With their rental history they’ll have difficulty getting a reference.

Even the greatest writers of irony couldn't imagine a story in which

1. A club's biggest rival is born because the former won't pay the rent

2. Their growing inferiority complex over the years is manifested in the size of the rival's stadium which causes them to decide to build a new one themselves

3. Only for their new home to put them into such debt that it ends up being owned by a third party who can charge them extortionate rent

[JRed]

With their rental history they’ll have difficulty getting a reference.

Maybe another club can be formed, called Liverpool City, who play at BMD and go on to be a successful club, whilst Everton FC  themselves go to ground share with Marine and continue to have a miserable existence.

[Samie]

FSG trying to buy Vasco de Gama in Brazil, who are owned by 777, the Everton wouldbe owners. 

https://twitter.com/brunomurito/status/1790822018096517540

Vasco went to court this Tuesday. The action is in the 4th Business Court of TJ-RJ.

In the article, we mention that Crefisa and FSG, owner of Liverpool, are among those interested in purchasing the 777 share of Vasco's SAF. Read everything in the article.

[4pool]

FSG trying to buy Vasco de Gama in Brazil, who are owned by 777, the Everton wouldbe owners. 

https://twitter.com/brunomurito/status/1790822018096517540

Brilliant...

So FSG buy Vasco, 777 get money to buy Everton. 777 then screw Everton over like they've done to the other clubs they own. 

[Wabaloolah]

Brilliant...

So FSG buy Vasco, 777 get money to buy Everton. 777 then screw Everton over like they've done to the other clubs they own. 

ha ha brilliant, would be great if we had a hand in their ultimate demise, you can hear the fume already

[only6times]

Brilliant...

So FSG buy Vasco, 777 get money to buy Everton. 777 then screw Everton over like they've done to the other clubs they own. 

Like Everton buying Bolasie from Palace and Palace using the money to buy Benteke  from us.

[RayPhilAlan]

Like Everton buying Bolasie from Palace and Palace using the money to buy Benteke  from us.

And we bought Mane with the money.

[only6times]

And we bought Mane with the money.

BOOM!!!!

[afc tukrish]

Like Everton buying Bolasie from Palace and Palace using the money to buy Benteke  from us.

Corner turned...

[No666]

This was from when GDA Luma was being formed.


GDA Luma’s strategy is expected to build on de Alba’s experience. It will invest in distressed mid-market businesses operating in pharma and healthcare, hospitality, technology, media and telecom and other sectors, sources told Buyouts. Opportunities will be sourced mostly in North America, as well as in the UK and Europe.

Dealmaking will aim to gain control of, or significant influence over, companies undergoing distress, sources said. This will be done by acquiring over-collateralized debt at a discount to intrinsic value and below liquidation value.

Sounds pretty ominous for the Bitters.

I look forward to the vultures fighting over the carcass of Everton.

Not sure I understand what's in it for them in loaning to complete the stadium? I can understand them buying MSP's debt for example - MSP accept they'll never get the full amount back and accept a lesser sum for their collateral. But on top of the MSP loan? And where would that leave the Premier League conditions to 777?

[12C]

With them needing to borrow an extra £150M to complete the stadium it's worth remembering back in April 2022 to a great deal of fanfare, EFC announced they had negotiated a fixed cost of £500M to completer the stadium. The cost has now risen to £800M.

Positive spin time, stadium announcement no 652
According to the BBC news, due to demand, they have had to widen the space given over to memories.
Basically they are pushing sales of brick paviers with fans names on, to make some readies.
Making it sound like the ground is almost ready

[So… Howard Philips]

Even the greatest writers of irony couldn't imagine a story in which

1. A club's biggest rival is born because the former won't pay the rent

2. Their growing inferiority complex over the years is manifested in the size of the rival's stadium which causes them to decide to build a new one themselves

3. Only for their new home to put them into such debt that it ends up being owned by a third party who can charge them extortionate rent

Which will bankrupt them.

[thaddeus]

I was needling a blue about their debts being higher than the value of the club and he said it can't be correct as the stadium is worth £800m.

Ignoring that it's not finished yet, once it is finished will it actually be worth £800m?  Like any asset it's only inherently worth what anyone would pay for it and the customer base for a 52k stadium in Liverpool is... nobody.  We already have (the superior) Anfield and it's a bit big for Tranmere!

I can see why a parasitic finance company might want to get hold of it on the cheap as they can fleece Everton in rent for a few years with an eye to selling for a profit in the future.

[Red Beret]

As long as there are entities out there willing to prop Everton up with loans, then Moshiri doesn't have to put the club into administration. He'll just continue to bury the club in more and more debt, and the PL are powerless to intervene.

It's like taking a brain dead patient on life support and hooking them up to an intravenous drip full of Monster energy drink.

[Eeyore]

Not sure I understand what's in it for them in loaning to complete the stadium? I can understand them buying MSP's debt for example - MSP accept they'll never get the full amount back and accept a lesser sum for their collateral. But on top of the MSP loan? And where would that leave the Premier League conditions to 777?

They will be charging punitive interest rates and will want financial guarantees levied against property or more likely a personal guarantee from Moshiri. They then look to buy up the other debt very cheaply as the club is on the brink of going under.

[Black Bull Nova]

As long as there are entities out there willing to prop Everton up with loans, then Moshiri doesn't have to put the club into administration. He'll just continue to bury the club in more and more debt, and the PL are powerless to intervene.

It's like taking a brain dead patient on life support and hooking them up to an intravenous drip full of Monster energy drink.

Hopefully more like taking a pig's bladder and just inflating it more and more until......................

[No666]

They will be charging punitive interest rates and will want financial guarantees levied against property or more likely a personal guarantee from Moshiri. They then look to buy up the other debt very cheaply as the club is on the brink of going under.

That's what I'm confused about, Al. Doesn't MSP have first dibs on the stadium? And would you take a personal guarantee from Moshiri - what's his true personal wealth, given how murky it all seems with the Russian connection. Be more pertinent to get a guarantee from his boss. And let's say it is, alongside MSP's loan, secured against the stadium. The PL has been demanding the MSP loan is repaid as a condition of the takeover, as it is.

[Black Bull Nova]

Oh come on 777, find the money, can't you lend it them FSG?

[JRed]

Oh come on 777, find the money, can't you lend it them FSG?

No they fucking can’t! They need every penny for a last minute loan signing of a number 6!

[Samie]

777 Partners have had their Brazilian club, Vasco de Gama taken off them by Brazilian courts, after 777 reneged on payments to buy the club.

https://twitter.com/rodrigocapelo/status/1790948378215399830

In an injunction, the Rio de Janeiro Court suspended the contract that grants control over Vasco's SAF to 777 Partners. Football temporarily returns to the association. We brought the first information about this important and controversial decision in @geglobo and @sportv

[Ray K]

@PhilippeAuclair
All of 777 Partners football assets in Belgium have been seized following a decision par the Tribunal of first instance of Liège. More details to follow.

Worrying Times ^TM

[Samie]

FSG should buy Liege and Vasco off these cowboys. 

[rafathegaffa83]

Wow. Standard Liege and Vasco de Gama both taken in the past 24 hours

[rob1966]

Wow. Standard Liege and Vasco de Gama both taken in the past 24 hours

And the bitter gobshites will stick be flashing their knickers at them.

"Excuse me Everton, we need that £200 million back, tomorrow will be fine"

[Black Bull Nova]

Wow. Standard Liege and Vasco de Gama both taken in the past 24 hours

Hopefully that means 777 have the resources to buy Everton (but I very much doubt it now)

[rob1966]

Hopefully that means 777 have the resources to buy Everton (but I very much doubt it now)

They were probably borrowing money against both clubs to fund the purchase..

[No666]

Hopefully that means 777 have the resources to buy Everton (but I very much doubt it now)

Why should it? The control has been wrested away because they reneged on the payments.

[Ray K]

Hopefully that means 777 have the resources to buy Everton (but I very much doubt it now)

That'll be the line on GOT.

'They don't have to make repayments for Liege or VDG, so they'll have tons of spare cash to finance our takeover'.

And no doubt shouting at the likes of Auclair on Twitter.

[StevoHimself]

That'll be the line on GOT.

'They don't have to make repayments for Liege or VDG, so they'll have tons of spare cash to finance our takeover'.

And no doubt shouting at the likes of Auclair on Twitter.

The two fellas on Toffee TV seem to think this represents the end of any hope they had of being bought by 777. I don't think many Blues were keen on the idea anyway and are hoping somebody else comes out of the woodwork now.

[Eeyore]

That's what I'm confused about, Al. Doesn't MSP have first dibs on the stadium? And would you take a personal guarantee from Moshiri - what's his true personal wealth, given how murky it all seems with the Russian connection. Be more pertinent to get a guarantee from his boss. And let's say it is, alongside MSP's loan, secured against the stadium. The PL has been demanding the MSP loan is repaid as a condition of the takeover, as it is.

RMF is the company to have lent Everton the most money circa £225m. That is secured against property around Goodison plus they have the power of veto over any deal to buy the Club. MSP have lent the club around £160m they have a charge against the Stadium and against just over half of Moshiri's 94% stake in the club.

The problem for me is neither RMF or MSP want to end up owning the club, 777 can't afford to and Moshiri doesn't want to pump in any more money. So EFC doesn't have the money to either finish the Stadium or pay the interest they are being charged for the loans.

My guess would be that GD Luma want to buy the club and finish the Stadium but only if they can lowball RMF and MSP. They could put a charge on property and shares that Moshiri holds and then try and force the other party's to sell.

[rafathegaffa83]

I can't see GDA Luma wanting to buy the club because there is a major conflict of interest if Todd Boehly is still an investor in GDA Luma
https://www.buyoutsinsider.com/distressed-shop-gda-luma-set-to-launch-anchored-by-billionaires-boehly-claure/

[PaulF]

Even if you bought the stadium at half its 'value', you're going to have to put on a lot of gigs to turn a profit. You certainly can't rely on PL income levels of rent from Everton.
And it'll be a few seasona before our ladies team could regularly fill it....

[Eeyore]

I can't see GDA Luma wanting to buy the club because there is a major conflict of interest if Todd Boehly is still an investor in GDA Luma
https://www.buyoutsinsider.com/distressed-shop-gda-luma-set-to-launch-anchored-by-billionaires-boehly-claure/

If they wanted to buy the club they would just setup a separate fund that Boehly was not involved in.

[So… Howard Philips]

If they wanted to buy the club they would just setup a separate fund that Boehly was not involved in.

Yeh I’m sure there’s at least a dozen ways to get around it.

If this does go ahead I can just imagine all the Bitter gloating about getting any number of highly fancied Chelsea youngsters on loan.

[Eeyore]

Yeh I’m sure there’s at least a dozen ways to get around it.

If this does go ahead I can just imagine all the Bitter gloating about getting any number of highly fancied Chelsea youngsters on loan.

I doubt GDA Luma want to buy the club for the long term. The issue for the organisations that have lent Everton money is that if the Stadium isn't finished then what are they left holding charges against. The BMD could easily become a Valencia situation in which the ground isnt finished and left to rot.

The Stadium becomes virtually worthless. Moshiri's stake in the club is already pretty worthless and Everton are borrowing money to keep the lights on. GDA could be a way out for all parties. They are offering to lend EFC the money to finish the Stadium but I imagine the interest rates and conditions will be punitive. Enter negotiations and then when they get their claws into Everton flip things and offer to buy the debt at a fraction of its value to end the impasse.

Then finish the Stadium and look to flip the club. An impasse could see EFC drag RMF, MSP, Moshiri and 777 down with them. GDA are vultures but they may well be the only way out.

[Schmidt]

It's a mental situation they've put themselves in, borrowing from so many different organisations that none of them want to be the sucker who takes control of the club.

The plan from Moshiri has been a topic of much discussion but it really just seems like he's hanging on for dear life, doing everything he can to avoid administration in the hopes that he can sell the club for something more than £1.

[12C]

Has anyone ever got to the bottom of who is actually behind R&M? No employees, but who actually get the repayments.

[Eeyore]

Has anyone ever got to the bottom of who is actually behind R&M? No employees, but who actually get the repayments.

RMF is reportedly owned by Michael Tabor.

He is part of the Coolmore stud with Magnier and McManus. Owns BetVictor and Global radio. He reportedly tried to buy West Ham.