Topic: Everton - The 777 Unflushables

[Ray K]

Hang on, Everton are struggling to make payroll and find the stadium payments. Things have taken a real turn

Laing O'Rourke must be shitting themselves. Have they been paid in full up to now?

Everton will probably try to bullshit their way until the start of next season but I'm not sure that's even possible now.
The Premier League have got to step in and make a final decision on the takeover. It's an intolerable situation for all the clubs in the relegation zone.

[TepidT2O]

 Christ

https://www.theguardian.com/football/2024/apr/30/everton-call-in-insolvency-restructuring-advisers-777-takeover-doubt

[Musketeer Gripweed]

So, they go in to administration and therefore take their points deduction this season. Never saw that coming once they were safe.

[cissesbeard]

So, they go in to administration and therefore take their points deduction this season. Never saw that coming once they were safe.

would love it to backfire on them and they lose their final 3 games.

[ScouserAtHeart]

Christ

https://www.theguardian.com/football/2024/apr/30/everton-call-in-insolvency-restructuring-advisers-777-takeover-doubt

I vote for insolvency

[swoopy]

Haven't people said the deduction goes into next season now ?

[swoopy]

Christ

https://www.theguardian.com/football/2024/apr/30/everton-call-in-insolvency-restructuring-advisers-777-takeover-doubt

At least the beat the RS though. They'll take that.

would love it to backfire on them and they lose their final 3 games.

10 point deduction then losing to Luton & Arsenal but beating Sheff Utd would put them on the brink.

[Ray K]

Will be amazing for Everton fans to look back at this season in the years to come.

Bad things: 2 sets of points penalties, club went into administration and then went insolvent, had to restart the club in North West Counties League.
Good things: Beat the RS in the derby and ended their league winning hopes.
Overall: a great season for us

[Qston]

Haven't people said the deduction goes into next season now ?

Pretty sure I read that as well, which would mean starting next season on -9 points presumably.

[Barneylfc∗]

Haven't people said the deduction goes into next season now ?

Only place I've read that is on here, posted by 4pool.
I've not seen any evidence of there being a cut off date though. A BBC article last week or week before made no mention of a cut off point and stated a deduction would be applied as soon as a club enters administration.

This BBC article states a 9 point deduction would be immediate and makes no reference to there being a deadline for it?

https://www.bbc.co.uk/sport/football/68835735


I'd assume there's no chance of that happening this season though given it finishes in a month.

What would happen if they went into administration on 20th May though? The season finishes on 19th, so in that scenario would it be applied next season?

[Barneylfc∗]

There appears to be a cut off point in the EFL

https://theathletic.com/2841896/2021/09/23/what-happens-when-a-club-enters-administration/

Going into administration brings a 12-point penalty from the English Football League but it isn’t always applied immediately. Why?

Under EFL rules, you get an automatic 12-point penalty when you enter administration but when it is actually imposed depends on when the administration happens. If it happens before the fourth Thursday in March, it is imposed that season. But it if happens after the fourth Thursday in March and you would have been relegated with or without the 12-point penalty, it is imposed the following season.

[lfc_col]

would love it to backfire on them and they lose their final 3 games.

That would be i don't know the word to describe it 

[12C]

Laing O'Rourke must be shitting themselves. Have they been paid in full up to now?

Everton will probably try to bullshit their way until the start of next season but I'm not sure that's even possible now.
The Premier League have got to step in and make a final decision on the takeover. It's an intolerable situation for all the clubs in the relegation zone.

More worrying is the impact on all those Subbies who are working on the BMD.
Laing could go the way of Carrilion, but the bosses will be OK. It’s the self employed sparks and the chippies and the small firms that will be hit hardest.
Even a small lay off will hit those lads and lasses hard.

[lfc_col]

Haven't people said the deduction goes into next season now ?

Abusing the system again but other people are at fault i suppose 

[Qston]

More worrying is the impact on all those Subbies who are working on the BMD.
Laing could go the way of Carrilion, but the bosses will be OK. It’s the self employed sparks and the chippies and the small firms that will be hit hardest.
Even a small lay off will hit those lads and lasses hard.

It would be terrible for all those subbies, and lots of other people as well, if the stadium isn`t finished - irrespective of administration. I sincerely hope that stadium is finished - even if they are playing in it in the lower leagues.

It is all a monumental mess of their own making

[Statto Red]

There appears to be a cut off point in the EFL

https://theathletic.com/2841896/2021/09/23/what-happens-when-a-club-enters-administration/

That's in the EFL, not premier league though.

[Barneylfc∗]

That's in the EFL, not premier league though.

Yeah. I've not seen anything that suggests there's a PL deadline.

[DonkeyWan]

Said it elsewhere, anyone thinking administration is some sort of clever dodge is delusional, it will wipe the club out.

[lfc_col]

Said it elsewhere, anyone thinking administration is some sort of clever dodge is delusional, it will wipe the club out.

Look what's happened to the likes of Portsmouth and Wigan after that it won't end well for them

[ScouserAtHeart]

Well at least they can brag about winning the last ever Merseyside derby

[CraigDS]

Said it elsewhere, anyone thinking administration is some sort of clever dodge is delusional, it will wipe the club out.

Think it depends how it's done. I imagine would be some sort of pre-pack admin job, likely headed up by MSP who seem to have the largest secured amount. They'll prob pay pennies on the pound to the rest of them and get the club and stadium for fairly cheap (considering the current debt, anyway).

I called it a few weeks back once MSP didn't call in the debt when the loan payment was missed. Allowed them to delay slightly, see how the following games went and if they could put them into admin whilst staying in the PL.

[Musketeer Gripweed]

The thing is, if we saw through their plan, the authorities must have as well. They are clearly taking the piss out of them.

[disgraced cake]

Read something before on twitter about 777 owning an airline which has gone bankrupt. Not sure if true but they seem to be the dodgiest fuckers of all time. I pray the league let's it go through, destroying the club in the process.

[rossipersempre]

I've gone from being amused at the prospect of them being flushed, to actively wanting the entire club to disappear into the death spiral of administration.

Why? Because they've knowingly cheated and effectively gotten away with it. Not talking about these latest PSR breaches either. The COVID loss fraud was blatantly taking the piss and the PL didn't bother to challenge it.

[[new username under construction]]

Yes but like rich people, being punished for anything never seems to go the same way as the lay person, for all the cheating and debt, they'll probably go into administration and virtually nothing will happen, somehow they'll stay in the premier league, somehow not having to sell that many players.

Everyone else would go under

[Statto Red]

Read something before on twitter about 777 owning an airline which has gone bankrupt. Not sure if true but they seem to be the dodgiest fuckers of all time. I pray the league let's it go through, destroying the club in the process.

This one

https://www.theguardian.com/australia-news/2024/apr/30/bonza-airlines-flights-cancelled-updates-news-today-budget-routes-services-suspended

[jacobs chains]

Think it depends how it's done. I imagine would be some sort of pre-pack admin job, likely headed up by MSP who seem to have the largest secured amount. They'll prob pay pennies on the pound to the rest of them and get the club and stadium for fairly cheap (considering the current debt, anyway).

I called it a few weeks back once MSP didn't call in the debt when the loan payment was missed. Allowed them to delay slightly, see how the following games went and if they could put them into admin whilst staying in the PL.

It does appear that MSP and Andy Bell have played a blinder here. I feel that Moshiri however will consider it an epic swindle^TM.

[rossipersempre]

somehow they'll stay in the premier league, somehow not having to sell that many players.

Everyone else would go under

Do you think clinging onto their PL status one more year, even under administration, is going to be the lifebelt they desperately need? It could just as easily be the millstone that eventually drags them under. I mean who'd have thought Houdini would die of a ruptured appendix?

[owens_2k]

Surely the stadium is a blessing. Someone is going to get to buy Everton on the cheap and get a nice new stadium as part of the deal. The stadium makes the club more attractive to buyers surely?

[lfc_col]

Surely the stadium is a blessing. Someone is going to get to buy Everton on the cheap and get a nice new stadium as part of the deal.

Dont they still need about 150 million to finish it

[owens_2k]

Dont they still need about 150 million to finish it

Even if that is the case, any buyer is getting a full stadium for a fraction of the cost

[Redknight60]

Even if that is the case, any buyer is getting a full stadium for a fraction of the cost

Buying most clubs comes with a stadium. The debts owed on building it will still come to the buyer.

[Musketeer Gripweed]

Even if that is the case, any buyer is getting a full stadium for a fraction of the cost

An unfinished stadium that hasn't been paid for yet. They won't be getting a stadium, they are getting a building site that needs to be completed.

[stewy17]

Said it elsewhere, anyone thinking administration is some sort of clever dodge is delusional, it will wipe the club out.

Yep, this isn't a "smart" move by Everton if it happens. It will be horrendous. I think people expect that someone will swoop in and buy them as a distressed asset, which could well happen, but ask yourself how viable it is to buy a club like Everton with the ground still unbuilt and the squad in turmoil and the massive, massive debts they have.

As much as it's amusing to see the delusion of their fans, it's actually a very bleak situation and a disgrace that a football club like Everton has been allowed to be run into the ground like this. How on earth can they be in a situation where they have a wage bill like they have, and an infrastructure project like they have, and have no money to cover the costs? It's obscene. Our city is at real risk of losing one of it's oldest cultural assets and something that means so much to a lot of people.

[CraigDS]

Buying most clubs comes with a stadium. The debts owed on building it will still come to the buyer.

Not necessarily, depends what the deal worked out with the administrators are. Likely the buyer ends up paying a fraction of the debt to secure the club and it's assets.

[stewy17]

Yes but like rich people, being punished for anything never seems to go the same way as the lay person, for all the cheating and debt, they'll probably go into administration and virtually nothing will happen, somehow they'll stay in the premier league, somehow not having to sell that many players.

Everyone else would go under

If they go into administration then they will certainly have to sell most if not all of their main playing assets, and the ground will be at risk.

[owens_2k]

Buying most clubs comes with a stadium. The debts owed on building it will still come to the buyer.

Not a brand new one.

It depends on the administrator how much of those debts owed on building it so far will be paid.

I personally think someone will buy them, clear the debt and finish off the stadium.

[Qston]

An unfinished stadium that hasn't been paid for yet. They won't be getting a stadium, they are getting a building site that needs to be completed.

It's closer to completion that you make it sound mate. Yes, works are still needed but it is certainly nearer the end than the start.

[lfc_col]

As much as it's amusing to see the delusion of their fans, it's actually a very bleak situation and a disgrace that a football club like Everton has been allowed to be run into the ground like this. How on earth can they be in a situation where they have a wage bill like they have, and an infrastructure project like they have, and have no money to cover the costs? It's obscene. Our city is at real risk of losing one of it's oldest cultural assets and something that means so much to a lot of people.

Its happened before though to other clubs football really needs to take a long hard look at its self but obviously it won't you only have to look at the plight of some the of lower league clubs how much longer can it be sustainable

[CraigDS]

If they go into administration then they will certainly have to sell most if not all of their main playing assets, and the ground will be at risk.

I imagine there will be pressure on the administrators to find a solution which allows the club to continue as a going concern, in which case if there is a suitable buyer then there could be no need to sell any playing assets.