Everton, surely a points deduction?

[wolfslair]

The few Everton fans I know all love him. Basically kept them up this season.

And last

 

[Topcat]

Oh, it gets better and better with this 777 mob!
100% owners of Standard Liege can’t now pay the wages for April.

Immediate transfer ban and probably not the only one in recent times?

Things aren’t looking too rosey for 777 Partners this week!

If rumours are correct, the 200mil plus loans are unsecured so Moshiri has played a blinder?!

 

[Mile End Wanderer]

Oh, it gets better and better with this 777 mob!
100% owners of Standard Liege can’t now pay the wages for April.

Immediate transfer ban and probably not the only one in recent times?

Things aren’t looking too rosey for 777 Partners this week!

If rumours are correct, the 200mil plus loans are unsecured so Moshiri has played a blinder?!

Moshiri can’t lose and there is nobody waiting in the wings. 777s time is over. Unfortunately they’ve hurt a lot of innocent people through bad business dealings. These cowboys should be in prison

 

[Bryce]

Moshiri can’t lose and there is nobody waiting in the wings. 777s time is over. Unfortunately they’ve hurt a lot of innocent people through bad business dealings. These cowboys should be in prison

If it were you or me we would be

Everton?

Deserve what they get

 

[Starsky]

Moshiri can’t lose and there is nobody waiting in the wings. 777s time is over. Unfortunately they’ve hurt a lot of innocent people through bad business dealings. These cowboys should be in prison

If Usmanov and the Russians are owed money behind the scenes, they might start wishing they were in prison...

 

[Mile End Wanderer]

If Usmanov and the Russians are owed money behind the scenes, they might start wishing they were in prison...

I don’t think they care all Russian assets are frozen aren’t they? Makes little difference to them. Probably why Moshiri is letting them go down the drain??

If it were you or me we would be

Everton?

Deserve what they get

exactly they deserve it cheaters. I meant more innocent employees

 

[JohnB]

Oh, it gets better and better with this 777 mob!
100% owners of Standard Liege can’t now pay the wages for April.

Immediate transfer ban and probably not the only one in recent times?

Things aren’t looking too rosey for 777 Partners this week!

If rumours are correct, the 200mil plus loans are unsecured so Moshiri has played a blinder?!

Sorry - being dense what does the last sentence mean for Everton?

 

[Topcat]

I don’t think they care all Russian assets are frozen aren’t they? Makes little difference to them. Probably why Moshiri is letting them go down the drain

On the surface they are frozen but I wouldn’t be too surprised if the Russians haven’t navigated a way round the sanctions?

I’m sure Usmanov will want his money back, there’s no question about that!?

Even Agatha Christie couldn’t come up with such a plot of corruption, mystery and intrigue!

No doubt someone will make a blockbuster of a documentary in the near future when all is unraveled?

 

[Mile End Wanderer]

On the surface they are frozen but I wouldn’t be too surprised if the Russians haven’t navigated a way round the sanctions?

I’m sure Usmanov will want his money back, there’s no question about that!?

Even Agatha Christie couldn’t come up with such a plot of corruption, mystery and intrigue!

No doubt someone will make a blockbuster of a documentary in the near future when all is unraveled?

They have loopholes via UAE & China trust me. They have access to monies still. He will get some of this money back but at what cost?

 

[Topcat]

Sorry - being dense what does the last sentence mean for Everton?

I think in other words the loan hasn’t been secured with collateral, ie player sales, Goodison Park or the new stadium?
As I understand it, yes they’ll be owed money but will be last on the list of creditors well behind financial institutions that have lent money but have stipulated secured terms and conditions.

 

[WickedWolfie]

I don’t think they care all Russian assets are frozen aren’t they? Makes little difference to them. Probably why Moshiri is letting them go down the drain??

exactly they deserve it cheaters. I meant more innocent employees

I suspect the implication is that certain oligarchs may be less committed to conventional legitimate means of debt collection....

 

[Mile End Wanderer]

I suspect the implication is that certain oligarchs may be less committed to conventional legitimate means of debt collection....

This is definitely one of them. They are happy to let Everton walk into the fire

 

[Topcat]

I suspect the implication is that certain oligarchs may be less committed to conventional legitimate means of debt collection....

Yep! Agree, watch this space as they say!

 

[Sussex Wolf]

It seems the end is neigh for 777’s takeover of Everton. Now it’s reported Moshiri also doubts their ability to complete the deal. In the meantime, Bloomberg are reporting that MSP, who failed in their takeover last year, are considering another bid. My only reservation about the Bloomberg report, is that they alone have been bullish about 777’s takeover even while storm clouds developed, so maybe they are overly positive on the MSP link. Even if true, 777 are in a fight to survive and will not easily walk away from the 200m they’ve recently loaned Everton, so this could get ugly.

Everton takeover by 777 on brink of collapse

Plus, analysis on how owner Farhad Moshiri can earn some credit by ending talks with the crisis-hit US investment firm

www.telegraph.co.uk

Bloomberg - Are you a robot?

The Bloomberg story is summarised here.

Report: MSP Sports Capital revive interest in Everton takeover

MSP Sports Capital are

www.toffeeweb.com

 

[Mile End Wanderer]

It seems the end is neigh for 777’s takeover of Everton. Now it’s reported Moshiri also doubts their ability to complete the deal. In the meantime, Bloomberg are reporting that MSP, who failed in their takeover last year, are considering another bid. My only reservation about the Bloomberg report, is that they alone have been bullish about 777’s takeover even while storm clouds developed, so maybe they are overly positive on the MSP link. Even if true, 777 are in a fight to survive and will not easily walk away from the 200m they’ve recently loaned Everton, so this could get ugly.

Everton takeover by 777 on brink of collapse

Plus, analysis on how owner Farhad Moshiri can earn some credit by ending talks with the crisis-hit US investment firm

www.telegraph.co.uk

Bloomberg - Are you a robot?

The Bloomberg story is summarised here.

Report: MSP Sports Capital revive interest in Everton takeover

MSP Sports Capital are

www.toffeeweb.com

Delboy is on standby with a new consortium called 778 partners

 

[wolfslair]

Delboy is on standby with a new consortium called 778 partners

The wheels came off the bid to buy it when they parked near the stadium…..

But the new buyer has the bricks to build a strong foundation of a new takeover from the ones used to lift the car from the previous bid

Hahaha

 

[Timberwolf]

I don’t think they care all Russian assets are frozen aren’t they? Makes little difference to them. Probably why Moshiri is letting them go down the drain??

exactly they deserve it cheaters. I meant more innocent employees

Let’s not forget, the Tories gave the Russians a 3 month warning that sanctions were to be imposed. They got all their money out but were stuck when it came to property. I don’t think they’ll be crying into their cornflakes about it.

 

[Jefe]

It seems the end is neigh for 777’s takeover of Everton.

Gonna be "Goodbye Horses" for Everton...

 

[WV10Wolf]

If Everton were a family pet, a vet would have done the decent thing months ago.

 

[oldgoldheart]

Oh, it gets better and better with this 777 mob!
100% owners of Standard Liege can’t now pay the wages for April.

Immediate transfer ban and probably not the only one in recent times?

Things aren’t looking too rosey for 777 Partners this week!

If rumours are correct, the 200mil plus loans are unsecured so Moshiri has played a blinder?!

But if they dont pY back everton can still be wound up

 

[oldgoldheart]

I think in other words the loan hasn’t been secured with collateral, ie player sales, Goodison Park or the new stadium?
As I understand it, yes they’ll be owed money but will be last on the list of creditors well behind financial institutions that have lent money but have stipulated secured terms and conditions.

But they can still be wound up if they dont pay

 

[oldgoldheart]

This could turn into a “rangers” type situation easily with liquidation rather than administration

 

[Mile End Wanderer]

This could turn into a “rangers” type situation easily with liquidation rather than administration

Really think it will go that far??

 

[oldgoldheart]

Really think it will go that far??

It could. They have no money and loads of creditors

 

[hollo]

Should fosun buy standard liege on the cheap when it goes belly up. We need a new feeder club and another player like toti gomes.

 

[DanishWolf]

This could turn into a “rangers” type situation easily with liquidation rather than administration

So it will be Newco Everton soon...?
Honestly I dont hope it go that bad for Everton. While I dont particular like the current version of the club, its still a huge club, and I always liked them much better than the other Liverpool club.

 

[rincewind]

So it will be Newco Everton soon...?
Honestly I dont hope it go that bad for Everton. While I dont particular like the current version of the club, its still a huge club, and I always liked them much better than the other Liverpool club.

Be hard not to prefer them Liverpool! But it's the whinging from their fans that the Premier league is, for some reason, trying to get them! The club is in a ridiculous mess and realistically the FA have actually been rather lenient, accepting Covid losses that made Villas overblown claim look reasonable and turning a blind eye to things like the £20 million sponsorship of the training ground.
As a club they deserve a relegation and it might bring some reality into the world of their supporters about their modern status.

 

[Premier Quality]

The guardian reckons that if they beat sheff Utd they will go into administration and take the 9 point deduction as they will still stay up…

Everton staring at administration threat with 777 takeover increasingly unlikely | Simon Goodley

Increasing doubts of takeover deal being completed paint bleak picture and could leave Everton unable to meet their financial obligations

www.theguardian.com

 

[SingYourHeartsOut]

The guardian reckons that if they beat sheff Utd they will go into administration and take the 9 point deduction as they will still stay up…

Everton staring at administration threat with 777 takeover increasingly unlikely | Simon Goodley

Increasing doubts of takeover deal being completed paint bleak picture and could leave Everton unable to meet their financial obligations

www.theguardian.com

In the same way that clubs can't go into administration to take a point deduction once they are relegated, it's ridiculous to let them do it when they survive with it.

 

[glorybox]

The shambles continues...

Everton withdraw appeal against two-point Premier League deduction

Everton withdraw their appeal against a two-point deduction for breaching Premier League financial rules.

www.bbc.co.uk

 

[SquaddieWolf]

The shambles continues...

Everton withdraw appeal against two-point Premier League deduction

Everton withdraw their appeal against a two-point deduction for breaching Premier League financial rules.

www.bbc.co.uk

Would they be withdrawing it if they were still in the relegation battle tho I wonder

 

[Bryce]

Would they be withdrawing it if they were still in the relegation battle tho I wonder

Of course not!
No need to appeal if they are safe
Frivolous appeal in any case and that should be punished, but won’t be .

Administration is looming though.

 

[Sussex Wolf]

It could. They have no money and loads of creditors

I don’t think they will, but I agree it’s possible given the complexity of their debts and the scale of them relative to their assets and income. Three large commercial debts with three different companies who don’t appear to like or trust each other makes it harder to exit administration. On top of that is the equally large soft loans to an owner who appears to be little more than a front for a sanctioned oligarch, who may not have Everton’s best interests as his priority.

As I mentioned before, it appears two of the three commercial loans are secured against their old and new stadiums and the total debts appear to exceed the value of the clubs assets.

There have been a couple of reports this week that MSP, one of the commercial creditors, may be interested in stepping in to take over. But last time they tried, Rights & Media, another creditor, blocked them. Between the two of them, Everton have over 300m in loans. Another 200m with 777, and over 400m with Moshiri. The new stadium needs at least another 100m to finish and Everton are losing money every month in their day to day operations.

 

[Premier Quality]

The athletic has an interesting article as to why Everton WONT go into administration- basically they would have to sell players on the cheap, and renegotiate their stadium payments (increasing them).

I hadn’t thought of those issues so found it interesting.

 

[WickedWolfie]

The athletic has an interesting article as to why Everton WONT go into administration- basically they would have to sell players on the cheap, and renegotiate their stadium payments (increasing them).

I hadn’t thought of those issues so found it interesting.

If they are losing money and can't find a new funding source they are in danger of trading while insolvent which involves significant personal risk for directors.

 

[Ned]

I’m ignorant as hell regarding these issues but I always assumed somebody would come in and see Everton as a really good investment at the right price. Question for people who know more than me: does the new ground effectively make them more appealing or less appealing to prospective buyers? I assume the new stadium will add hundreds of millions onto the asking price?

 

[WickedWolfie]

I’m ignorant as hell regarding these issues but I always assumed somebody would come in and see Everton as a really good investment at the right price. Question for people who know more than me: does the new ground effectively make them more appealing or less appealing to prospective buyers? I assume the new stadium will add hundreds of millions onto the asking price?

The problem is that the right asking price is almost certainly less than the existing debts.

 

[Mile End Wanderer]

Of course not!
No need to appeal if they are safe
Frivolous appeal in any case and that should be punished, but won’t be .

Administration is looming though.

Admin be next season though -9 start for them??

 

[SingYourHeartsOut]

The athletic has an interesting article as to why Everton WONT go into administration- basically they would have to sell players on the cheap, and renegotiate their stadium payments (increasing them).

I hadn’t thought of those issues so found it interesting.

Cheers, it is interesting. Seems to think (if I understood it!) that MSP will be better off buying out 777 and taking control, rather than letting Everton go into administration or a CVA. So they take over, sell what they can and look for a buyer. In the end surely it's madness for any of the creditors to do anything that will even relegate, never mind dissolve, Everton FC, the only real assets are the players.

 

[WickedWolfie]

Cheers, it is interesting. Seems to think (if I understood it!) that MSP will be better off buying out 777 and taking control, rather than letting Everton go into administration or a CVA. So they take over, sell what they can and look for a buyer. In the end surely it's madness for any of the creditors to do anything that will even relegate, never mind dissolve, Everton FC, the only real assets are the players.

I imagine that is in part predicated on how 777 is structured. MSP are unlikely to want anything not directly Everton-related.

While your last sentence is logical to an extent while things continue as they are the debt is merely increasing.....