Late Friday, David Hellier of Bloomberg reported that a letter from the Premier League Board had been issued. The Premier League Board is comprised of three individuals: Chief Executive Officer Richard Masters, Chair Alison Brittain, and board member Mai Fyfield.

His report states the Premier League wrote a letter last week saying that the board that has been reviewing the deal for several months and “is currently minded” to approve it, subject to conditions.

Neither the Premier League nor 777 Partners commented on the letter.

So let’s examine what this means. From my perspective (and experience) this is a polite form of denial. Why do I say this when many will assume the opposite?

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A letter of this nature could have been written at any time since approval was sought following the announcement of Moshiri’s agreement to sell his 94.1% stake to 777 Partners on 15 September 2023, more than 6 months ago.

By its very nature, the Premier League’s stance must be to start on the basis of approval, albeit conditional, on whatever they consider to be the requirements around funding, source of funding, the business plan going forwards three years, plus the conduct and status of the owners and future officers/directors currently and historically.

The fact is this: 777 Partners, to date, have failed to satisfy the Premier League with regards to those conditions. The qualifications (for want of a better term) to become owners and future officers/directors of Everton Football Club have not been met to date.

This, despite the urgency for Everton to have new owners given Moshiri’s abdication as funder and business leader, 777’s obvious desire to acquire Everton for their own purposes and reasons, the cost to 777 Partners to fund day-to-day working capital requirements, and the impact all of this delay has on the business, its ability to fund itself, the players and management, employees and, of course, fans.

In addition to the circus surrounding profitability and sustainability rule breaches, commissions and appeals, points deductions, add backs and relegation fights, Everton’s threadbare management team struggle to keep Liverpool’s most significant capital project and economic redevelopment opportunity on track and viable.

Hence the need for speedy approval from the Premier League and the speedy compliance of 777 Partners to meet whatever approval conditions are placed in front of them.

Despite the very obvious urgency and absolute requirement of the above, none of that has been achieved.

The result is that Everton’s uncertainties have grown, their balance sheet continues to be devastated further and the prospect of administration increases. Equally the cost of delay impacts not only the club but the potential acquirer, 777 Partners.

777 Partners have known this since Day One. The conditions for approval have always been known. The corporate news from 777 Partners, their own corporate performance, the performance of their underlying portfolio companies, the numerous lawsuits, the withdrawal of support from reinsurance partners and the regulatory/credit reference pressures on Bermuda-based 777 Re will have only added to concerns that 777 Partners cannot reach the conditions required of them.

So, it’s crunch time. Can 777 Partners meet the conditions or not? If so, why, given the costs incurred and the significant damage Everton have suffered in recent months, have these conditions not been met?

What has changed at 777 Partners in the very short term to suggest the conditions can now be met?

The Premier League, in issuing the letter, have thrown down the gauntlet to 777 Partners: Meet our conditions; otherwise, there is no approval.

Much has changed in the last six months. Everton’s condition has deteriorated sharply, its ability to remain in business has become much more questionable.

Equally, 777 Partners' operating environment has changed. They’ve lost key staff, lost key funding partners who are actively divesting as we speak. Their ability to meet the Everton ownership conditions appears to have deteriorated significantly.

One way or another, a decision has to be reached. 777 Partners have to meet their conditions in order to acquire Everton. So far (unsurprisingly from my perspective) they have failed to do so.

What has changed? If the answer is nothing or is not provable or satisfactory, Moshiri’s choice of 777 Partners at the expense of other would-be owners is another huge misjudgement and mis-calculation. More wasted time, opportunity and greater cost applied to our great football club

Reader Comments (62)

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Peter Hodgson
1 Posted 23/03/2024 at 16:47:46
This now is a complete farce.

777 Partners haven't looked capable of meeting the Premier League's unpublished rules and requirements (re the 777 Partners application), as far as I can see criteria. The Premier League have supposedly been considering this application since September 2023. Somebody is playing games.

I suggest that both 777 Partners (why?) and the Premier League have been guilty of this. Moshiri has been quiet through all of this to all intents and purposes except by restating every now and again that 777 Partners are the right people to take the club forward. Really? On what basis?

It is now beyond a joke. The time for playing games is well past but, as I've suggested elsewhere, the Premier League just keep kicking the can down the road. They seem not to have finished their Everton job yet and won't pronounce on 777 Partners until that is over and done with. I of course could be wrong.

One question in my head that won't go away is why Moshiri is sticking to 777 Partners like glue. Is there a plausible answer to that one, Paul, that you can think of?

Anthony Dove
2 Posted 23/03/2024 at 18:13:54
Are the club ever going to publish the latest accounts?
They were given to the Premier League before the end
of 2023 so I can’t fathom what is going on.
David Bromwell
3 Posted 23/03/2024 at 18:15:58
Well, can it get any worse? We all know that 777 Partners are unsuitable potential owners, but it seems that the Premier League cannot or will not come to any sort of conclusion. This is all of course very damaging for the future of our club and our new stadium project.

Thinking I should do something following Paul's earlier article, I did write to Michael Gove as 'Communities Secretary', stressing the need to secure the completion of our new stadium, and its potential importance for the city and the regeneration of the Northern Docklands.

By coincidence, the City Council have this week confirmed that a new Regeneration Organisation in the city will target nine key areas as part of an 'accelerated development zone'. The docklands waterfront is one of the areas selected.

So my point is our new stadium and the future of Everton Football Club is one of the biggest issues facing the city and both these matters need to be resolved ASP.

In my letter to Mr Gove, I did reference Michael Heseltine's initiatives in the 1980s as it seems to me that we need something similar today. Certainly the Premier League and/or 777 Partners seem unwilling or unable to provide the answers.

Stephen Davies
4 Posted 23/03/2024 at 18:52:09
Conditions to be met which look nigh on impossible to meet.

Key part:

Josimar has been told by multiple sources with sight of the Premier League's official letter that the four main conditions are conversion of loans by 777 totalling just over 150 million pounds into equity, funds into an escrow account to keep the club going for the rest of the season, proof of funding to complete the new stadium, and repayment of MSP's 158 million pounds stadium loan by mid-April. These are not the only conditions. But they alone mean that the total extra funding still required by 777 to complete the purchase is well over 300 million pounds, before you even take into account the price agreed with Moshiri for his shares, which Josimar understands to be just 64 million pounds up front, rising potentially as high as 130 million pounds if a series of milestones are met.

Charles Ward
6 Posted 23/03/2024 at 18:59:47
Paul do you know if the Premier League have set any time limit for 777 Partners to satisfy their concerns?

If not, this could drag on for months.

David West
7 Posted 23/03/2024 at 23:40:47
If it takes months fot 777 Partners to show what is needed, which we still are unsure of, doesn't that give the impression that they are struggling to give the Premier League (or any journalist) the confidence that they have the ability to take control?

Taking control is one step; having the funds to fund the club and its obligations (new stadium, repayment of loans, outstanding transfer payments, and the necessary investment needed in the playing squad) is where the real funds are needed.

Moshiri is a sitting duck with a massive stadium round his neck, drowning him day by day.

I'm now doubting Moshiri's motives for not only choosing 777 Partners but sticking with them and not seeking other investments or takeovers. It makes no sense! There must be some upside for him personally in the 777 deal.

It doesn't seem like it's in the best interest of the club to hand it to a firm that can't manage its image, perception, public relations or media narrative surrounding this takeover. What are they going to do to the once-good name of EFC??

I was hopeful in the beginning of this process with 777 Partners. I don't see many Evertonians clamouring for this deal anymore.

Paul Kossoff
8 Posted 23/03/2024 at 00:14:34
I think 777 Partners are a front for Usmanov, and he's waiting in the wings for Russia and Ukraine to stop the war.

The Everton Football Club owner, Farhad Moshiri, received more than £400m from Alisher Usmanov companies in the run-up to the Russian billionaire being placed under sanctions, documents suggest, raising fresh questions about the financial ties between the two men.

Records seen by the Guardian appear to show that Moshiri borrowed £145m from a company wholly owned by the Russian-Uzbek tycoon from about 2020.

The papers also set out how, between 2018 and 2022, Moshiri sold about £270m of shares in a company whose largest shareholder was Usmanov. Moshiri did not pay for those shares, public accounts imply, which accounting experts suggested could mean the share sales were a gift.

Usmanov is one of the world's richest people and is said to be close to Vladimir Putin. He has long had business ties with Moshiri and the pair jointly owned a stake in Arsenal Football Club. Moshiri sold his Arsenal shares back to Usmanov in 2016 in order to fund his initial investment in Everton.

The discovery of the previously unreported financial records raises fresh questions about the relationship between the men – as well as the true wealth of Moshiri, just days after the British businessman disclosed a provisional deal to sell Everton to the US investment firm 777 Partners.

The papers also appear to misalign with Moshiri's previous statements about how he could continue to fund the Premier League club himself, as well as his promise to provide ongoing financial backing that was crucial in Everton's auditors signing off its 2022 accounts this year. — The Guardian, 23 September 2023

Some new news, some old, but I do think Moshiri's mate is behind 777 Partners and the reason Moshiri discounted other bidders.

Peter Gorman
9 Posted 24/03/2024 at 01:21:08
That Moshiri is a bag man for Usmanov is almost certain if you can read all the clues.

I'm less certain that either have anything to do with 777 Partners, it would make more sense for the sanctioned Usmanov to claw back as much of his wealth as possible, not plough it into a US company where it could be seized by the state. That's a dangerous game.

But if it is all Putin's mate Usmanov behind the scenes… well, at least he is wealthy.

Mike Gaynes
10 Posted 24/03/2024 at 04:07:27
777 is a front for Usmanov???

Okay, now I've officially heard everything.

Paul, I'm not sure what planet you're orbiting, but it ain't in this galaxy, that's for sure.

Brent Stephens
11 Posted 24/03/2024 at 04:41:34
Paul #8, can I ask you, did you write those paragraphs in #8 yourself? Or have you copied that from some other source? If so, what was the source?

I ask because you have a habit of typing things (cutting and pasting things??) from other sources without using quotation marks.

Mike Gaynes
12 Posted 24/03/2024 at 05:17:22
Brent, he was told directly by space aliens who asked him not to quote them.
Brent Stephens
13 Posted 24/03/2024 at 05:35:32
Mike, maybe! I just think knowing a source gives us a better idea of credibility. Not that I don't think Paul is an incredible guy.
Steve Brown
14 Posted 24/03/2024 at 06:43:07
Usmanov has been busy! World conquest any time soon.

He'd better buy himself a white cat like Blofeld.

Danny O’Neill
15 Posted 24/03/2024 at 06:51:33
There are a lot of conspiracy theories out there.

Usmanov always seemed to be in the background.

Meanwhile, Chelsea agreed a sponsorship deal with a crypto company with links to Russia.

Premier League: "nothing to see here".

Despite the sanctions, the UK and the west are still doing deals with Russia.

It's all front and hypocrisy.

Michael Kenrick
16 Posted 24/03/2024 at 07:25:56

Paul has quoted a Guardian story from last year:

Everton owner received £400m from Alisher Usmanov companies, documents suggest

He missed off the most interesting bit, which I'd forgotten: [In] September 2021, … the Football Association reportedly made it “clear to Alisher Usmanov that he would not be permitted to loan money to Everton – or any other football club”.

I recall it caused a minor stir at the time, including being cited in Parliament, but died the death pretty quickly. Surely the sanctions folks would have done something by now…?

Andrew Clare
17 Posted 24/03/2024 at 08:09:35
We have been investigated by a UK government organisation for a few years now regarding our links to Alisher Usmanov. I have no idea what the implications of that investigation will be.
Colin Glassar
18 Posted 24/03/2024 at 08:32:06
Can it get any worse? Probably.
Michael Kenrick
19 Posted 24/03/2024 at 08:50:06
Andrew @17,

"We have been investigated by a UK government organisation for a few years now regarding our links to Alisher Usmanov."

I wasn't aware that he or we were under investigation by a government organization? Would you know which organization that is? And why are they taking so long to reach any conclusion?

Oh wait, you must mean this even older story from the Guardian:

Treasury’s sanctions police ‘reviewing’ finances of Everton FC owner, Guardian understands

So the 'Treasury's sanctions police' would be the Office of Financial Sanctions Implementation (OFSI). Plenty of entires found for Usmanov when I perform an OFSI Consolidated List Search of Financial sanctions targets: list of all asset freeze targets.

But strangely nothing comes up when I search for 'Moshiri' or indeed 'Everton' (or 'Kenwright'!!!). Can we conclude after 9 months that they haven't come up with anything? Or are they still scratching around?

Tony Abrahams
20 Posted 24/03/2024 at 08:59:37
I personally think the reason that Moshiri won't just walk away from 777 Partners is because it will cost him even more money. I believe he is waiting for the Premier League to dismiss 777 Partners but maybe the league have got other ideas and are giving him a choice between getting rid of them himself or administration?

The Kenwright era has always been built on pure speculation and this is something we still continue to do as we watch these last remaining dying embers slowly burn away.

I'm not sure the war between Russia and Ukraine is going to end soon, Paul K, and I honestly think there's more chance of the new stadium at Bramley-Moore Dock being bombed by Putin after the money it's ended up costing his old Pal, Big Al!!

The end is near – hopefully, we can come out smiling, with decent owners and a fantastic new stadium helping us to secure a prosperous new beginning – but what an unmitigated disaster this 24-years-old century has been for Everton Football Club so far. All thanks to a great player who got so many passes until the masses finally cottoned on.

Charles Ward
21 Posted 24/03/2024 at 09:38:42
Whichever Tory place person who has been tapped up (probably not in the Garrick Club at the mo) to head the Independent Regulatory Body must be looking at this saga and hoping there will be a General Election and Labour give the job to Andy Burnham.

Seriously, the complexity of this takeover shows what can go wrong with assessing fit and proper persons and their financial stability.

Pat Kelly
22 Posted 24/03/2024 at 13:21:05
So the ball is back in 777's court. I'm sure they'll try some racket to get it over the line.
Mike Gaynes
23 Posted 24/03/2024 at 15:12:33
Michael #16, the story Paul quoted is about the connection between Usmanov and Moshiri. It has nothing to do with 777 Partners.

Paul's idea that 777 Partners have an Usmanov connection is simply Looney Tunes. 777 Partners have made club purchases in multiple countries and have been sued by multiple entities in the US and UK, and their finances have been thoroughly investigated without turning up even the slightest indication of an association to Usmanov. How could they have kept such a connection hidden while undergoing all those legal colonoscopies? It's absurd on its face.

And while Josh Wander may be an ex-con, an operator and something of a sleaze, nobody has ever accused him of being stupid -- certainly not monumentally stupid enough to risk his entire business by fronting for a sanctioned Uzbek.

There may well be outside money behind 777 Partners. The idea that it could be Usmanov's simply isn't rational.

Paul Kossoff
24 Posted 24/03/2024 at 15:29:32
Brent, the Guardian as source.

Mike, have you access to the Hubble telescope or are you a remote viewer? Any Info regarding Everton is necessary on here because the club have abandoned us.

I am not trying to be clever or upset anyone, we are all in the same boat, me, maybe I'm on a different planet. Usmanov behind 777? Yes, I believe he is.

Michael Kenrick
28 Posted 24/03/2024 at 17:11:32
Mike @23, re Paul Kossoff's vivid imagination:

It has nothing to do with 777 Partners.

@16 I wanted to fill in the void Paul Kossoff had left @8 by just pasting plain text from that old Guardian story without attribution.

I think he's on a good wind-up with this one and you seem to have got the bait firmly lodged. Best not to engage, I'd say.

Brent Stephens
29 Posted 24/03/2024 at 17:26:51
Paul #24 - thanks. It would help, as I say, if you state the source (sometimes useful for somebody else to go and have a look at that). And use the italics button (I sometimes forget that!).
David West
30 Posted 24/03/2024 at 17:32:53
MK @ numerous posts, I don't go in for all the conspiracy theories, or the narratives around the league having it in for Everton.

Can you shed any light on why Moshiri persisted with this 777 deal? There's no exclusivity. Why wouldn't you sound out any other offers ?

I was optimistic about them to begin with, but if you have the funds, stability and infrastructure to take on Everton, wouldn't you have everything in place, knowing this PL test was coming?

Doesn't it project an uninspiring approach? A window into how we would be run under 777? I don't blame the league, it's usually pretty black and white, you have the funds or you don't.

Is it as much a mess as it looks, or is it press building up the narratives around 777 ?

I don't think there will be much celebration if they do get the go ahead. That tells its own story.

Mike Gaynes
31 Posted 24/03/2024 at 18:01:26
MK #28, wouldn't be the first time I chomped on a hook, but I think he means it.
Tony Abrahams
32 Posted 24/03/2024 at 18:10:29
Very sensible post that, David @30, and one of the main reasons why 777 Partners scare me to death.
Peter Hodgson
33 Posted 24/03/2024 at 18:21:53
David @30 above,

You have reminded me of the question I asked in my first post on here which asked this question:

One question in my head that won't go away is why Moshiri is sticking to 777 Partners like glue. Is there a plausible answer to that one, Paul, that you can think of? — which nobody has thought to answer so far.

This question, if answered, may assist us in arriving at an answer or partial answer at least to much of the speculation that is discussed in this thread. The Esk hasn't as yet come back with an answer so maybe someone else may hazard a guess on this.

David West
34 Posted 24/03/2024 at 18:51:58
Peter 33.

It may well be that they were the only ones to supply the funds needed to run the club and finish the stadium while still not taking actual control.

I'm only guessing, and it's not based on any facts (like a lot of this thread).

There must be a big upside for Moshiri because I don't see the massive upside for the club.

Charles Ward
35 Posted 24/03/2024 at 19:27:10
Thing is, if there are other bodies interested in taking over, why haven't they come out? And if they did show an interest, how long would it take for them to get approval?

So many questions, so few answers.

Tony Abrahams
36 Posted 24/03/2024 at 20:14:21
I thought I tried to answer that in post 20 Peter, although I was only giving my own opinion, and my predictive text, has just suddenly come out with the word 'gibberish'.

Possibly because I'm not feeling very well, which means I've been stuck in the house for most of the day, talking absolute pony on ToffeeWeb.

Michael Kenrick
37 Posted 24/03/2024 at 21:14:48
David @30,

Can you shed any light on why Moshiri persisted with this 777 deal?

In short: No. Taking your question literally (as Tony is on the thread), I don't think he has much option but to persist – once he made the much more puzzling decision to choose these guys in the first place.

There's no exclusivity. Why wouldn't you sound out any other offer?

The lack of exclusivity is puzzling. Everton have made a huge frigging deal about that in previous instances; however, that was under a previous regime. I'm sure Moshiri would have listened to any offers — the puzzle is why he went with 777 Partners?

Wouldn't you have everything in place, knowing this Premier League test was coming?

There was a story about them stonewalling the Belgian FA on the lack of audited accounts but I can't believe they would have been stupid enough to try that on with the Premier League. They obviously know their bad press and must have done a decent job of countering it for them to still be in the reckoning at all.

And this concern about them coming up with funds — for fuck's sake, they've already produced £200M in 6 months. Moving money around seems to be the one thing they are good at. And maybe that's how they were hoping to pull this off.

The Premier League's final set of conditions may be impossible for them to meet (as Paul Quinn claims)... or they may be able to make it all happen, in which case, it may then go forward to the Independent Review Board for the final word.

As for running Everton, they were new kids on the block but they've now accumulated some experience in the business with multiple clubs, made mistakes no doubt… they might just have it figured out a bit better now.

But I don't really have any idea, David. Maybe that's all wishful thinking from me hoping to usher in a new era sooner rather than later.

Ian Pilkington
38 Posted 24/03/2024 at 22:19:31
Question never answered: Why in the summer of 2022 did Moshiri suddenly pull out of the deal to sell the club to the Kaminski consortium, claiming that he was looking for investment instead?

At the time, I was gutted and blamed Kenwright, who was widely rumoured as certain to be sacked as chairman and replaced by Peter Kenyon who was fronting the deal for Kaminski.

Along come MSP and 777 as potential investors, neither apparently being considered to have either sufficient resources or inclination to actually purchase the club. Yet Moshiri, out of the blue again, suddenly announced he was selling to 777 Partners. Very odd indeed.

Don Alexander
39 Posted 24/03/2024 at 22:52:34
It seems to me that some TW posters have genuine insight into the law and management of significant, legitimate financial entities, and I welcome that.

That said, I'm by now far less content by their views and insight because of what's being revealed about 777 Partners, and what's never been revealed about Moshiri.

Mike Gaynes derides fellow fans for contending theories about Usmanov and his endlessly opaque financial activities seemingly just because there's no proof apparent to him, but that's just the point with mega-shysters like Russian oligarchs insofar as they just don't allow the truth to emerge.

In that, they effectively have first-world governments by the goolies. First-world governments always boast loud and long about their own 100% financial integrity, so to accede to the notion that they are ignorant or complicit with the evasive conniving of the mega-rich in hiding the truth is anathema to them.

But then events like the Panama Papers emerge to the public gaze, don't they, and they reveal that those at the top of countries all over the world had invested personal money into secret Panama accounts in a bid to maximise their income to the cost of those they lied to and promised to faithfully serve.

So I'm far from dismissive of the contention that Usmanov may well be deeply involved in the fog that's allowed by people in power to envelope the interests and future of "ordinary" people, like me.

Mike Gaynes
40 Posted 24/03/2024 at 00:05:52
Charles #35, they would have no reason to do so. Most such suitors would seek to do business completely out of the spotlight until the final stage of negotiations required them to go public. And they would particularly want to keep a low profile if they're hanging back waiting for the 777 deal to flop so they could swoop in on a bargain purchase of a deeply distressed property.

David #30, one possibility is that there are no other offers at the moment, that the other potential suitors Keith Wyness cited are hanging back as I mentioned above, awaiting results. Another possibility is that Moshiri -- never the brightest bulb on the tree -- has been swept away by the renowned verbal charms of 777's Josh Wander.

Ian #38, the whole Kaminski deal was mysterious -- even my friends in the Minneapolis business community knew nothing about these guys, and the one football guy in the deal, Kenyon, never made a single public statement.

On your second point, however, MSP very definitely has the resources and clearly had the inclination as well. I still regularly burn incense and dance naked around backyard bonfires, chanting for the possibility they will eventually buy the club.

#39, doesn't surprise me a bit.

Bill Gall
41 Posted 24/03/2024 at 00:09:47
I may believe that someway Usmanov would be willing to help back a club but not one run by an American-run organization. They would have the CIA, FBI and the Treasury just for a starters, following the trail of money.

Yes, with the amount of money that Usmanov is said to have and his relationship with Moshiri, you would suspect there may be an association, but I don't believe that 777 would risk their whole organization plus a possibility of a jail sentence, by receiving backing from a Russian Oligarch, no matter how hard they try to hide it.

They can't touch Usmanov even though a number of these Oligarchs have had a number of their assets sized, including their fancy £200M+ yachts, but anyone found dealing with them is fair game.

There is a big difference being investigated by a Government run agency, where money is limitless, and I doubt if 777 Partners would risk it.

Christine Foster
42 Posted 24/03/2024 at 00:14:33
Don, having had personal insights in my time as a senior executive, I fully understand your unease.

Money and influence, the very high rollers do tend to operate outside general business protocols when they can and most certainly do have influence in government of many countries regardless of persuasion.

They are not some high cabal running countries in the background as conspiracy theorists believe, but money talks. If you have enough of it, you can hire the best, pay off who you have to, and bury your interests in layers of trusts, tax havens and third-party ownerships.

Our Russian friend has both the money and influence to do so if he wanted to – goodness me, how difficult it is to find the controling loan sharks in the BVI? Hence why it's the relationships such wealthy people have that may well tell you more than a signed agreement.

Hence our owner's relationship with Usmanov, do you really think they don't talk? Even meet somewhere? They are close friends, Moshiri has undoubtedly done very well out of it.

But we are not privy to where they stand with respect to Everton. Or why Moshiri seems hell-bent on 777 Partners, especially when there are others supposedly in the wings. Especially so when you see and hear the poor way they do business and their current liquidity problems.

We don't know if Moshiri has been bankrolled for the purchase of the club, or why he is no longer bothered considering the investment already made..Unless of course it wasn't his money to lose and 777 Partners are just another vehicle that's being funded by an unknown front out of another tax haven.

We may never know, but what's more important is the integrity of any new owner, their ambition for the club they want and the means to achieve it.

Mike Gaynes
43 Posted 25/03/2024 at 01:47:56
Bill #41, amen.
Laurie Hartley
44 Posted 25/03/2024 at 02:24:42
A lot of very interesting posts from people I consider to be “business savvy”. Nevertheless, nobody has been able to come up with answers to a number of questions that keep getting asked.

1. What is the attraction of the 777 Partners deal for Moshiri – is it cash flow using other people's money?

2. Why haven't 777 Partners backed out of the deal – are they now in too deep to back out?

3. If they are the guardians of English football, why haven't the Premier League just vetoed this deal – are they dragging it out for some ulterior motive?

4. Who are the parties waiting in the wings, if any, waiting to make their move?

5. Is the Russian Oligarch still involved in some way?

I wouldn't rule out the last possibility. I am sure there are, and always have been, plenty of big deals done by word of mouth with consequences for anyone who goes back on their word.

This whole business just doesn't seem to stack up from the outside looking in. The sooner it is over and done with, the better it will be for us.

Tony Abrahams
45 Posted 25/03/2024 at 08:13:19
I remember a Liverpool author (Graeme Johnston?) wrote a book, consisting of many small stories about young footballers who originated and played for either one of this city's two teams.

Robbie Fowler's was interesting but also a little bit sad, considering it was claimed he was getting taxed off a couple of different fraternities and there was also a very funny one about Wayne Rooney who claimed he was an electrician and sent his mate the speedbank to get the money for the brasses they had just got to one of their mate's flats.

The best story though was about the different groups trying to obtain the alleged video of Rooney in the brass-house on Aigburth Road. It was hilarious but with a very serious and sinister undercurrent and this now reminds me of the major mess Everton have suddenly found themselves in since Kenwright found himself a billionaire.

When these alleged American investors were allegedly flabbergasted in The Titanic hotel, a part of me blamed Bill Kenwright. How? This was difficult to understand so I gave him the benefit of the doubt because surely there is no way he could hold such influence over a man like Usmanov. But then I read what Mike wrote about MSP and it's clear they wouldn't have allowed Bill Kenwright near “our club” and neither would those flabbergasted Americans.

Peter Hodgson
46 Posted 25/03/2024 at 13:15:40
Tony @ 36

I don't doubt you did in your interesting post but as you said, it was just your opinion. I was, in asking the question, trying to get something a little more concrete.

It seems that speculation is all that is available at the moment. And plenty of it if the subsequent posts are indicative of what people 'think' is a likely answer.

I must admit my thoughts follow those sort of lines too but, as expected to a large degree, facts are going to be hard to come by, just for the moment at least.

Ray Said
47 Posted 25/03/2024 at 14:20:54
Tony (45) it was Graham Johnson who wrote the book 'Football and Gangsters'. Some shocking stories in there about the links between footy and crime.

My fear is that 777 Partners are bringing a different level of shadiness to what we have known before…

Tony Abrahams
48 Posted 25/03/2024 at 14:29:11
Sometimes in my thoughts, I think the Premier League know that we have got a silent owner who would eat people like 777 Partners for their breakfast, Ray, and they are probably not going to make it easy for him to exit in a way that suits him the most.
Mark Taylor
49 Posted 25/03/2024 at 17:55:00
I'm late to this and Mike G, I'm not a spaceman, but I would also not rule out Usmanov's involvement in this at some level, and have suggested as much recently. It's pointless saying "
"produce any evidence" because there de facto isn't any, but that is a mighty long way away from saying such a scenario could not exist.

We consider the motives for Moshiri holding fast to 777 Partners. There are more than one, but if an entity offered a means by which money could be channelled back to Usmanov (because I think there is a very good chance this was indeed his money all along), then that would be a very powerful motive. It could certainly explain a few things.

Could a way be found to channel money back to Usmanov? It would be very naive to imagine otherwise. Not every jurisdiction has sanctioned Russia. I for one am a little unclear about Rights & Media Funding's role in this and why they vetoed MSP but not 777 Partners.

This also affects the prospects of R&MF getting their money back. There could be full meltdown here. I think it is far less likely, nigh on impossible that Usmanov is involved in funding 777 Partners. I can't see the motive. And that would be trickier to hide.

My hunch is the Premier League's letter is little more than an advanced defence against potential lawsuits for the massive delay in approving this deal. There could be a number of parties with a cause. I agree with Paul, it is bordering on meaningless in terms of the approval process so its issuing must have some other motive driving it.

What an unholy mess we are in, a plaything for the more powerful, like cats pawing a mouse.

Stephen Davies
50 Posted 25/03/2024 at 18:07:23
Mark...there may be something in that. One thing that Billionaires don't like is to lose. They don't like to let go of something they don't have to.

I think I've mentioned before that the sale of luxury cars to the likes of Armenia has increased massively since the sanctions against Russia – and they're not staying in those countries.

Charles Ward
51 Posted 25/03/2024 at 18:47:55
I think the Premier League letter is a back-covering exercise asking 777 Partners to show them the cash. If they can't do that, then the deal must fail.

When that decision will be made… who knows? Easter Bank Holiday is coming up and there are all the plans around celebrating the League winners and there's more Bank Holidays in May.

Where will they find the time?

Laurie Hartley
52 Posted 25/03/2024 at 22:19:31
Chris # 51 - if that is the case then it raises another question:-

Why didn't they issue the letter last year when 777 Partners lodged their application? See question 3 @ post 44 above.

Kevin Molloy
53 Posted 25/03/2024 at 22:28:07
Every Evertonian deserves a medal for having to keep up with this never-ending loop-the-loop of shite.

What are we being offered here? Barely a foothold in a horribly corrupt league surrounded by shitbags. We aren't allowed to spend any money, and are fined and given multiple points deductions for building a stadium which meant to give us more of a sporting chance against sovereign wealth funds who have broken the rules a thousand times more than us and march on with impunity.

The only slight shaft of light in our season is when a young player distinguishes himself, whereupon he can be whisked away before he's barely arrived. If football started today, there's no way any of us would sign up for such a dreadful deal.

Oh, and the football's shite.

Paul Kossoff
54 Posted 25/03/2024 at 00:05:21
If 777 are allowed to buy us, doesn't 777's debt transfer to the club also?

I just read a very worrying article by Josimar about the amount owed by them including a $1.4 billion loan from the Bank of Canada. As explained by Josimar:

"The Miami-based firm has come to increasingly rely on the largesse of backer Kenneth King to finance its operations over the past few years. It is estimated that King, via the companies he controls under the A-CAP banner, has provided 777 with at least a billion dollars worth of loans at interest rates as high as 15 percent."

Apparently 777's debt is round $3.6billion, that becomes ours doesn't it if they take us over? Add our debts of around a billion — we would possibly be the most in-debt club in the World… well, this is Everton after all.

The 3.6 billion dollar question — Josimar, 5 March 2024

Paul Kossoff
55 Posted 26/03/2024 at 00:19:55
Tony 36, get well soon mate, I've had IBS for a week, still have, good job I'm a blue.🙄
Kieran Kinsella
56 Posted 26/03/2024 at 01:27:33

No 777s debt doesn't transfer to us. Just as Kenwrights personal debt didn't transfer to us. Or anyone other company buying a club can't encumber that club with debt. So no. Everton are not liable for 777 debt.

However, if they can't pay their other debts, how are they going to finance us? Or if somehow there's equity in the club or stadium despite our massive debt, they could take out a loan by cashing in that equity and thereby encumber us with more debt.

Harry Wallace
57 Posted 26/03/2024 at 06:06:42
Everyone is taking these reports as facts when we don't know either way. We also have to trust Esk's judgement because again the only fact is that it's taken 6 months to complete.

Newcastle's owner took 18 months to complete the same process and it went through. I suggest everyone just waits and passes judgement when the dust settles. Until then, we can guess and read rumours.

Eric Myles
58 Posted 26/03/2024 at 14:45:38
Repayment of MSP's 158 million pounds stadium loan by mid-April.

What right do the Premier League have to determine that loans have to be repaid? Surely that is a matter of privity between 777 Partners and MSP?

Eric Myles
59 Posted 26/03/2024 at 15:09:49
David #30,

"Can you shed any light on why Moshiri persisted with this 777 deal? There's no exclusivity. Why wouldn't you sound out any other offers?"

Who says there's no exclusivity? All I read about is an agreement between 777 Partners and Moshiri for the sale / purchase of the Club. That's what confers the exclusivity.

Peter #33, this answers your question also.

John Keating
60 Posted 26/03/2024 at 15:46:25
Wherever there is money there's the means and corruption.
Whether it's multinationals or nations there are ways.

Wouldn't surprise me at all that Usmanov is not somewhere in the background.

Russian nationals and money are and is flowing in and out via the UAE with no sanctions or issues. Even if we could prove the UAE are a conduit do you think anyone in the West would say or do anything?

With these days of crypto currency Usmanov and Moshiri could be transferring, buying and spending anything they want whenever they want.

Les Callan
61 Posted 26/03/2024 at 16:56:12
Eric @58. I thought that too. What right has a third party to intervene in a private arrangement between two parties ?
Stephen Davies
62 Posted 28/03/2024 at 22:52:31
777 having to pay the players wages this month. For an allegedly skint organisation they don’t half have a load of disposable cash.
Also, the £35 million we need to furnish the hospitality areas ain’t there so it’s all shelved for now I’m told.
Brian Williams
63 Posted 28/03/2024 at 23:20:30
Told by who Steven?
Len Hawkins
64 Posted 28/03/2024 at 23:45:31
Putin wants a Nuclear War.

The Premier League want to keep harassing Everton until they have no points left.

Thank God for the Scots Voting to have a McDignitas in Drumchapel.

Stephen Davies
65 Posted 29/03/2024 at 21:45:20
#63 Brian
Apologies should read £3.5m
It’s £3.5 million. I believe for now they can’t do the ceilings and have put temporary lights up. That’s from someone who works onsite.
Ed Prytherch
66 Posted 10/04/2024 at 00:45:51
More bad news for 777 partners.

My home state South Carolina is involved in the action.

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