But Everton fans will tell you it's corruption and they are in a sound financial position.
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[Football] The ticking Profit and Sustainability (FFP) timebomb...
- Thread starter Bozza
- Start date
But Everton fans will tell you it's corruption and they are in a sound financial position.
AZ Gull
@SeagullsAcademy @seagullsacademy.bsky.social
Personally, I think Everton are absolutely f**ked.
- May 8, 2018
- 10,610
Moshpits without bottle tops? Never happen
They are absolutely f***ed, they owe 777 millions, who in turn are a cowboy outfit and won't be allowed to take them over, what then?
The loans they have got are at an awful rate it it seems.
Weststander
Well-known member
They’ll regret the 777 foot in the door. Do you remember when Risdale at Leeds effectively mortgaged future (many years) season ticket income? 777 are opportunistic shysters looking for a high return.
That’s a matter of opinion if ever I heard one
If you haven't, have a read up in the state of 777 in the states.
Weststander
Well-known member
I had a look a few weeks ago following a link on grandoldteam to an excellent article, was it by an investigative journalist who knows his financial onions? From memory, they’re loathed by fans, they’ve invested nothing into sporting operations and are just looking to strip big bucks. The Glazer’s model of purchase debt loaded on the sporting entitites?
Looks like they are worse than the Glazers, they had money, given their transfers... maybe it was better if they didn't
Bloomberg report of conditional approval for 777 Partners crystalises minds
Late Friday, David Hellier of Bloomberg reported that a letter from the Premier League Board had been issued*. The Premier League Board comprises of three individuals, Chief Executive Officer Richa…
theesk.org
Hotchilidog
Well-known member
- Jan 24, 2009
- 9,120
777 have Everton over a barrel. There is no way their takeover should be approved, but if it isn't they could bankrupt the club. Utter shambles this is why PL cannot be trusted to run itself, they have no grip on unsuitable owners at all.
The folly of just chucking money at a club has been laid bare by this situation. We are so lucky with Bloom who has stuck to his guns and kept the Albion well with sustainable limits.
The folly of just chucking money at a club has been laid bare by this situation. We are so lucky with Bloom who has stuck to his guns and kept the Albion well with sustainable limits.
Weststander
Well-known member
Looks like they are worse than the Glazers, they had money, given their transfers... maybe it was better if they didn't
Bloomberg report of conditional approval for 777 Partners crystalises minds
Late Friday, David Hellier of Bloomberg reported that a letter from the Premier League Board had been issued*. The Premier League Board comprises of three individuals, Chief Executive Officer Richa…
Is that the first time PL due diligence has actually done something tangible? I don’t count the Saudis as the PL eventually bottled it.
A cynic might say, to discourage parliamentary regulation.
Maybe someone else can answer, can the PL stop investment from outside sources as long as they don't break FFP with it?
Weststander
Well-known member
It appears yes, these are their fit and proper rules.
I'm gunna side with the PL here then
What are the options
Let Everton fold v outside investment
Lots of the time it is moaning fans that owners are trying to please. How many on here moaned about not signing people and showing a lack of ambition. Go and look at what happened to Stoke and others when they tried to jump to next level. Fans have unrealistic expectations
Weststander
Well-known member
I guess something will happen to save them. Branthwaite, Onana would raise huge funds.
Although it could be argued that the fans have benefited from their clubs cheating. Everton fans in particular.
100% (110% even).
And to add to the madness of it all, 777 Partners has an exclusivity agreement with Moshiri (which presumably they paid for). In a way, 777 also has the Premier League over a barrel - if the PL doesn't approve them, they will withdraw their £200m and EFC will go into administration - in fact, if it happens any time soon it'll be interesting to see how Everton could even continue to pay their players and staff. And they can't sell Branthwaite until mid-June. I wonder if the Premier League is hoping this thing can be spun out until the summer transfer window opens, thus allowing Everton to undertake a fire sale of assets, and at least not go bust.
There was an article in the FT a couple of weeks ago about 777 Partners....I have to confess, despite my finance background, I didn't grasp it all (too much detail about re-insurance!). A rating agency which specialises in re-insurance markets has given 777Re* a C-minus rating (which is the second worst possible - the next lowest is D [Default]). (*NB: 777Re is the company that effectively provides 777 Partners with its funding).
Nobby Cybergoat
Well-known member
- Jul 19, 2021
- 8,622
I'm not so sure. Someone can can money in who isn't the owner surely and the PL can do nothing about it?