Topic: Everton - The 777 Unflushables

[No666]

Agreement between 777 and Moshiri is said to have expired last week. Someone saying the 8m was already in a holding account due to be released by a certain date. --Don't know how that one works; all as clear as sewage works effluent to me.

[Stockholm Syndrome]

Spawn of the devil that club.

The corrupt PL have saved them again.

I mean, they've gone from having a shit buyer to I stead having no buyer and incredible amounts of debt, with very real talk of administration

I don't think they've been saved

[rafathegaffa83]

I think this week will be a pivotal one for them. Based on what has gone on in the past, unless they file for administration before the end of their last match, I can't see any way they could argue that a points deduction should be applied this season, rather than next.

[4pool]

Prospective Everton owner 777 calls in restructuring firm leaving takeover bid in jeopardy

777 Partners’ eight-month attempt to buy Everton appears to be effectively over after the Miami-based investment firm called in restructuring experts in attempt to save the crisis-hit business.

In a memo sent on Thursday evening, staff were told that “a team of professionals from B Riley Advisory Services” had been retained to help 777 get through “various operational challenges”.

They include 17 different lawsuits filed against the firm for unpaid debts, accusations of fraud and the financial collapse of 777’s Australian airline Bonza.


Full article in the Athletic.
https://theathletic.com/5484691/2024/05/10/everton-777-restructuring/

[Brain Potter]

I think this week will be a pivotal one for them. Based on what has gone on in the past, unless they file for administration before the end of their last match, I can't see any way they could argue that a points deduction should be applied this season, rather than next.

I have read somewhere that even if Everton apply for administration next week, that although the Premier League don't have a specific cut off date during a season, they do have the discretion to apply the penalty into the following season if it felt that they have engineered a situation so as to make the points deduction irrelevant.   

[sonnyred]

One thing you can say is Moshiri doesn't want administration as he'll lose everything. He might have no choice of course but I can see him fighting it, trying to hold out for a buyer. I think the other groups wouldn't mind as their debts are secured, even 777 will get something back through those Isle of Man iinvestors I believe. But Moshiri really will be screwed.

[Son of Spion]

Apparently they got £8m from 777 yesterday

And probably pissed it into the Mersey this morning.

[4pool]

Have they filed for Administration yet to take the 9 point deduction this season?

[Terry de Niro]

Have they filed for Administration yet to take the 9 point deduction this season?

Keeping their heads real low for now.

[rafathegaffa83]

Have they filed for Administration yet to take the 9 point deduction this season?

If they did it this week, the PL would have to tell them to get fucked. I think that is why the Football League now has a hard date for when the points deduction is applied because you had situations in which Boston Utd filed for administration during their final game of the season to get the penalty applied that year safe in the knowledge they weren't going down

[Fromola]

Moshi won't want them in administration as it'll screw him, but 777 is dead in the water, what's his next move?

[rafathegaffa83]

Moshi won't want them in administration as it'll screw him, but 777 is dead in the water, what's his next move?

We'll soon find out very quickly if the alleged other interested parties actually exist

[Brain Potter]

I think for Moshiri to get a buyer he’s going to have to write off his loan and walk away with fuck all.

[ATEAMOFCARRAGHERS]

So they cheated year on year. Blagged the covid bollox and the league bought it. They are on the verge of administration but, those points they appealed, naa. No need for them anymore.

Cheating c*nts.

[sonnyred]

I think for Moshiri to get a buyer he’s going to have to write off his loan and walk away with fuck all.

Don't forget Everton will get a huge TV windfall in a couple of weeks, and if they sell Branthwaite as well then both can keep the lights on for a few months. Yeah they are screwed ultimately as they must be getting hammered by interest and their revenue is shite. But I think they can last a few months, and Moshiri will take it, the other option is him being totally wiped out.

[12C]

Don't forget Everton will get a huge TV windfall in a couple of weeks, and if they sell Branthwaite as well then both can keep the lights on for a few months. Yeah they are screwed ultimately as they must be getting hammered by interest and their revenue is shite. But I think they can last a few months, and Moshiri will take it, the other option is him being totally wiped out.

That “windfall” is mortgaged to R&M to repay their loan.
That’s how bad they are. They mortgage their future TV income.

[4pool]

Don't forget Everton will get a huge TV windfall in a couple of weeks, and if they sell Branthwaite as well then both can keep the lights on for a few months. Yeah they are screwed ultimately as they must be getting hammered by interest and their revenue is shite. But I think they can last a few months, and Moshiri will take it, the other option is him being totally wiped out.

They will have to wait until mid next month.

The summer window will open on Wednesday 14 June and will close at 23:00 BST on Friday 1 September.

Their books close the end of June, so they will need to sell whomever before then for this set of books to fall within current Profit and Sustainability rules.

[farawayred]

They will have to wait until mid next month.

The summer window will open on Wednesday 14 June and will close at 23:00 BST on Friday 1 September.

Their books close the end of June, so they will need to sell whomever before then for this set of books to fall within current Profit and Sustainability rules.

Fire sale!

Get one player you don't want, we'll give you for free two others you don't need!

[demain]

What's the potential impact on the Bramley Moore stadium? Surely they won't be able to raise the capital to finish the works? Or are they expecting a bailout from the government given that the FA has tied itself to the mast by including the stadium as one of the Euro 2028 venues?

[Nitramdorf]

I still wouldn't be surprised if they somehow end up buying someone this summer. Cheating bastards. Should be made to sell every player until solvent and play 16 year olds in the meantime.

[Fromola]

I still wouldn't be surprised if they somehow end up buying someone this summer. Cheating bastards. Should be made to sell every player until solvent and play 16 year olds in the meantime.

They'll sell Branthwaite for big money, Onana will go and then they'll buy about 5 players with some of the proceeds.

[So… Howard Philips]

I still wouldn't be surprised if they somehow end up buying someone this summer. Cheating bastards. Should be made to sell every player until solvent and play 16 year olds in the meantime.

Moral High Ground FC? Surely not.

So Corrupt PL allowed them to boonswoggle the Covid losses, delayed the points deduction which certainly would have seen them relegated and are about to pay them a large tranche of TV money based in the efforts of clubs (maybe even six clubs) who play exciting, attacking football whereas they grind out boring wins.

School of Science my arse.

[Gili Gulu]

That 2 points for a repeat offence is a cheater's charter.

Why the hell should Forest rein in their spending now?
Just go hog wild and you'll only get another two points taken away.

Absolute madness.

[Drinks Sangria]

They’ll make maybe £110m from Branthwaite and Onana, then badly spend part of it on new players and then the rest will keep them afloat for the time being.

Their fans are acting like they’ve turned a corner and I really don’t think they have. There’s even bigger trouble on the horizon. They will actively have to enter administration to get any form of reasonable owner courting their purchase.

[Crosby Nick]

Also the new stadium won’t miraculously end their woes will it? Or will the extra revenue it’ll generate make a significant difference?

[Wabaloolah]

They will have to wait until mid next month.

The summer window will open on Wednesday 14 June and will close at 23:00 BST on Friday 1 September.

Their books close the end of June, so they will need to sell whomever before then for this set of books to fall within current Profit and Sustainability rules.

they don't have to wait until the transfer window opens to sell players, it's just the other team can't register them I thought. I imagine their assets will be sold as soon as the season ends next week

[Lisan Al Gaib]

Also the new stadium won’t miraculously end their woes will it? Or will the extra revenue it’ll generate make a significant difference?

I think its only projected to make an extra 5-10m a year so it won't make any difference at all considering what they need to cover interest rates at the moment

[rafathegaffa83]

They’ll make maybe £110m from Branthwaite and Onana, then badly spend part of it on new players and then the rest will keep them afloat for the time being.

Thought it was interesting that their DoF says they will pursue options in the loan market. They may not even end up spending a significant amount of what they bring in

[disgraced cake]

Bar the win against us, I'm glad they've ended the season on a good note, because they'll definitely keep hold of Dyche now. They'll almost certainly have a worse squad next season and the promoted sides will all be better IMO. I think it's pretty obvious now the worst times are yet to come. Worrying Times™.

[DonkeyWan]

Also the new stadium won’t miraculously end their woes will it? Or will the extra revenue it’ll generate make a significant difference?

They made less than 1//3 of what Liverpool made last year (£172m compared to £594m). Gate receipts accounted for £17m (or 1/10) of their turnover. They will need to maike a fortune on commercial income through the new stadium to catch up. And that's before you consider the costs of leasing BMD (around £4m a year), debt servicing on an £800m or so stadium, increeased maintenance costs for a bigger stadium etc.

I would be surprised if the stadium even let them break even, never mind catch up.

[vblfc]

They'll sell Branthwaite for big money, Onana will go and then they'll buy about 5 players with some of the proceeds.

When Sir Gareth goes to United, Branthwaite and TRex are certain sells. Everyone wins. 

[bird_lfc]

Bar the win against us, I'm glad they've ended the season on a good note, because they'll definitely keep hold of Dyche now. They'll almost certainly have a worse squad next season and the promoted sides will all be better IMO. I think it's pretty obvious now the worst times are yet to come. Worrying Times™.

I feel like we’ve been saying this for years though and they always pull it out the bag. They have one of the worst squads in the league and 2 points deductions and stayed up comfortably

[So… Howard Philips]

I feel like we’ve been saying this for years though and they always pull it out the bag. They have one of the worst squads in the league and 2 points deductions and stayed up comfortably

They currently have the fourth worst squad in the league, sufficient to keep them up - this season at least.

[4pool]

They’ll make maybe £110m from Branthwaite and Onana, then badly spend part of it on new players and then the rest will keep them afloat for the time being.

Their fans are acting like they’ve turned a corner and I really don’t think they have. There’s even bigger trouble on the horizon. They will actively have to enter administration to get any form of reasonable owner courting their purchase.

They've said they need to sell players and will look for loan deals this summer.


They have due a £158m loan to MSP Sports Capital. It was supposed to be paid in April. Moshi negotiated an extension until the end of the season.

Player sales will go towards paying that off.

[Fromola]

I feel like we’ve been saying this for years though and they always pull it out the bag. They have one of the worst squads in the league and 2 points deductions and stayed up comfortably

They're a bottom half team but is anyone in the bottom half much better?

Palace have got a bit more quality but otherwise it's much of a muchness. The likes of Pickford, Tarkowski, Branthwaite, Mykolenko, Onana, Garner, Doucore, Calvert Lewin would probably start for a lot of them.

The gap is between the bottom 3 and the rest because they've barely got a PL level player between them.

I'd actually say Everton's team is lower-mid table on paper. It's lacking in squad depth, but they never seem to get many injuries. Their issue would be if they sold a few of the above and didn't replace with PL level players.

That 2 points for a repeat offence is a cheater's charter.

Why the hell should Forest reign in their spending now?
Just go hog wild and you'll only get another two points taken away.

Absolute madness.

Whereas if the promoted clubs go for it (like Forest had to when they came up) they'll get a big deduction, so are less inclined to bother and will pocket the PL money and go back down with parachute money like Luton and Sheffield United. It's never been easier to stay up now for the non-promoted teams, Forest won't even need to spend.

[Fromola]

Also the new stadium won’t miraculously end their woes will it? Or will the extra revenue it’ll generate make a significant difference?

Only if the fans are prepared to pay huge price hikes. Problem with that is the product on the pitch is so shit to watch.

[Son of Spion]

We'll soon find out very quickly if the alleged other interested parties actually exist

I'm not well versed in the cloak and dagger world of football club purchasing, but why would any other 'interested parties' be hanging around in the shadows? I mean if anyone actually wanted them I'm sure Moshilad would snap their hands off. Any competition for the purchase would surely have seen these 777 chancers fall by the wayside long ago.

If they're actually there, what's stopping these rival bidders from just walking in and getting it done?

[Motty]

Forest fans protesting yesterday about the club wanting to move to a new shiny soulless bowl of a stadium, most comments on FB posts about it have fans of various clubs slagging off new stadiums as well. Seems to only be bitters that welcome one with open arms doesn't it, sole reason being just to try and have one over us because they think we are arsed, sad c*nts.

[Brian Blessed]

I'm not well versed in the cloak and dagger world of football club purchasing, but why would any other 'interested parties' be hanging around in the shadows? I mean if anyone actually wanted them I'm sure Moshilad would snap their hands off. Any competition for the purchase would surely have seen these 777 chancers fall by the wayside long ago.

If they're actually there, what's stopping these rival bidders from just walking in and getting it done?

Not that I’m suggesting there are actually other interested parties, but if there are, I assume 777 made Moshiri many false promises on the amount of his ROI, so much greater than anyone else, that he desperately wanted them above anyone else.

One problem they face with getting big fees for players (one of many) is that they’ll probably need cash upfront.

[DaveLFC]

I'm not well versed in the cloak and dagger world of football club purchasing, but why would any other 'interested parties' be hanging around in the shadows? I mean if anyone actually wanted them I'm sure Moshilad would snap their hands off. Any competition for the purchase would surely have seen these 777 chancers fall by the wayside long ago.

If they're actually there, what's stopping these rival bidders from just walking in and getting it done?

Would you pay the full asking price or the desperate to sell price? As far as I know if they go into administration then Moshiri is unlikely so see much of his money back, so you catch him going into cash converters after his inflated priced eBay sales have failed due to non paying bidders