In the Cold Light of Day — Everton’s Position, the Absence of Leadership & Aligned Interests

Again I appreciate your digging deep and doing the work that no respectable journalist has chosen to undertake.

That is some dire reading and I just don't see a way out here. I'm normally optimistic in life but where Everton are concerned, there is no light at the end of the tunnel.

Unfathomable for a club with a storied history such as Everton's and yet here we are.

If MSP don't come on board, this just goes from bad to worse. Limping across the line, as Paul says, appears to be our only hope:

"The strategy is clearly just to limp across the line. Complete the season, stay out of administration, remain in the Premier League and see where we go from there. That is the extent of our ambition and for our future, under Moshiri, his choice of potential owner, and our other backers and creditors".

It also sounds like Philip Green, is still making money out of Everton, and I think it's time for the premier league to step in, like they did when Liverpool football club, were getting mismanaged to oblivion, by Hicks & Gillette.

This can only happen if there are other genuine interested parties, but maybe I'm wrong, and the league are absolutely powerless, or maybe they are involved in this very slow game of chess?

"The strategy is clearly just to limp across the line. Complete the season, stay out of administration, remain in the Premier League and see where we go from there."

And

"No more putting narrow self-interests ahead of the Club,"

We'll need a large slice of luck get those goals accomplished.

One obvious problem with that is the forced sales of players will leave us with a squad unable to compete in the second tier. That's aside from the issue of the finance required to pay for the rest of the stadium build.

Moreover the sale of players when an increasing number of clubs will be fearful of breaching their own PSR limits will be less straightforward than hitherto.

Limping on in the hope something turns up is draining the spirit of fans and everyone connected with the club. With each passing day our survival seems more in peril and the prospect of a rescue bid ever more remote.

Relegation will make us another Sheffield Wednesday or Sunderland for a long time. The future's shite without decent owners and that seems a forlorn hope.

'...their game now is to wait for the carcass to appear – the carcass of Everton Football Club'

That's where we are heading. I also expect legal cases to ensue. I said on here, about a year ago, we face a serious risk of entire disintegration and in my opinion, that is now coming to pass.

Off the field, we are rooted... on it, we would have been safe already except for events out of the manager's and players' hands. Not excusing the terrible form since Christmas but any analysis that doesn't take into account the impact of a double points deduction should be ignored in my view.

We can't afford to get relegated (I don't think we will) but it doesn't look like we are going to exit this current farce before we hit rock bottom. Lord knows where that is.

I'll still be following, no matter what, but I am increasingly of the view that being in the EFL is far preferable to life in the Premier League from a playing perspective. The new stadium would still be full most weeks.

Barclays was the body behind Gillet and Hicks being forced to sell by calling in their loans but I do understand what you are saying.

Unfortunately, we have slated the Premier League enough that they are probably happy for 777 Partners to totally sink us once their rules have been adhered to so that the Orem look squeaky clean.

Maybe we could put pressure on the Premier League who are disgracefully (imo) letting Everton run with 777 Partners even though it's apparent that they are another group who are not worthy of our club, even in our current position.

Who stopped MSP putting a couple of genuine Evertonians, on the board? Was it R&MF and one of its shady members looking after Bill Kenwright?

Why did Moshiri go with 777 Partners when there was a much better option for Everton Football Club on the table? (Maybe it wasn't for Usmanov?)

Did Bill Kenwright cry 'Wolf' and threaten to expose the whole rotten circus because he would have been asked to leave? Far-fetched? Maybe, but truth has always been stranger than fiction and the one thing that is very clear about Everton is that it's become a very strange place and doesn't even appear to be getting governed right now.

Depressing stuff

We can only hope that something – anything – turns up but, in the interim, the players must go out for every remaining match and give 110%. We could also pray for a white knight although they are rather rare these days but you never know and we should never give up.

As others have already said, the game of football has changed beyond recognition and for that I put the blame fair and square on the money men, which is why I cancelled my subscription to Sky some years ago.

I have come to the conclusion that 777 Partners effectively control the Club, though have failed to meet the requirements of the Premier League. The extension proves that the Premier League are powerless in such circumstances. Moshiri was never nothing more than a figurehead and still is.

I expect 777 Partners to secure funding to fulfil the Premier League conditions. Everton to survive in the Premier League by default (I pray) and the continuing saga with 777 Partners to play out to its conclusion, which ironically their involvement with Everton has exposed.

On the 'Revolution in Bermuda' thread, I posted my experience on an Investment Seminar in 2010, speaking to a Swiss Financier who was a friend of Mark Shipman, the professional investor presenting. (Mark started the first hedge fund in Europe, a West Ham Supporter).

The Swiss Financier told me that the derivatives problem in the banking industry, which caused the 2007 crash, was also in the pensions industry, but restrictions on disclosure meant it wasn't exposed. Being offshore would make this even more difficult.

777 Partners appear to be funded by proceeds derived from derivatives, which has dried up since their Bermuda based reinsurance arm has been given a 'C' rating. The reason I say that 777 Partners will raise the funding requirements regarding Everton is that it takes in my experience 2 years for this to process through the system before regulators act. Regulation is always too late.

I am actually acting in my personnel finances on this type of scenario myself, with a 2028 deadline.

The last thing I expected was my beloved Everton to be involved in this shitshow. I will continue to support them wherever they end up, still standing at the other end.

We will lose our best players and assets, probably by the end of June;

We will have no funds to replace them, we owe the money we will receive and can't spend due to PSR;

We have still to pay (£19M?) for Beto, who is worthless;

We have a so-called striker who doesn't score, a few pensioners (Young, Coleman, Gueye) who need putting out to grass, loanees who haven't cut the mustard (Harrison, Danjuma), a selection of deadbeats (Keane, McNeil, Godfrey…);

We need funds to get shot of Dyche and attract a new manager:

We are possibly facing more points deductions;

We have enormous debts to service and eventually repay;

We have a new ground to find funds to finish.

Administration and relegation offer potential salvation in the long term.

“Laurie, cash is not king – cash is the Chinese Emperor”.

"Why is that, George?" (his western moniker), I asked?

He replied: “There a many kings but only one Chinese Emperor”.

Rich or poor, this is a true saying – especially in today's world. Here is another one I learned at school: “A bird in the hand is worth two in the bush.”😉

Come to think of it, if George had been Everton's CFO instead of Ryazantsev and Ingles, we and our owner would probably much happier than we currently are!

My effort at a bit of light relief from the doom and gloom.

Here's another one: when Dyche was asked about having a good squad of players, he replied:

“What you've never had, you'll never miss.”

Yes it is. It would be a nightmare getting caught up with the likes that run Everton. Even with cash now, I do two test runs with over £500 payments, checking it is received.

I think an example is Arnold Weinstock of GEC, who built huge cash reserves. Two idiots ousted him as Chairman promising faster growth. They nearly bust the Company. The shares dropped from £12.50 to 4p. Weinstock, a major shareholder, held on to his shares in his family's company, losing billions.

The deeper the abyss the more interesting we become to the next sheikh looking for a gold plated opportunity at cheap money.

This ponzi scheme of a club needs demolition – the idea of a moderate financial player putting in shiny suited executives to improve shirt sales and sponsorship is neither here nor there.

The club needs billions not to spend but to waste. Transfers are hit and miss and our problem has been two fold – we buy in Cheap Street and every acquisition is expected to transform us; the margin for error is zero.

Bring it on – this cadaver of a club needs burying.

Between him and the decease ex Chairman, they've sent Everton to Hell.

To turn up at Stamford Bridge with 777...

Hopefully they won't be at Goodison on Sunday.

UTFTs!

Finishing the stadium gives us an asset worth at least 800 million at least to a football club.

Selling off some of the facilities like the bars or the restaurants (a la Chelsea) will generate much needed cash to finish it and get us off the psr issue.

Sell Pickford, Brandthwaite and Onana for circa 150 m and invest some of the proceeds into creating a workmanlike squad.

777 asked for an extension until the end of May and MSP extended the loan period.

We'll see what's what after league position is resolved.

Jerome # 21 - moral of your story - beware of spin doctors.

James # 26 - I think you are correct - it's a waiting game.

But if we stay in the Premier League, we will still be forced to sell those same players. So, if we can't compete in the Championship without them, what chance have we got in the Premier League?

My worry now is that who's going to be prepared to do something that Usmanov, doesn't want? I don't think many people would sleep easy, if they had looked after themselves at the expense of the big Uzbek?

The answer is indeed blowing in the wind, Martin!

Never mind when things look glum, you'll always know there's worse to come!

It's difficult to see a positive outcome.

"Everton, are no longer a single united entity. They are a loose pack of possible allies...a group forced into a marriage of convenience, none liking or trusting the other, but none with the means or desire to end the charade, the sham marriage that their relationships have become..." and presenting it as fact, is frankly dangerous.

Paul The Esk is an outsider, almost as much as any of us, yet presents some of what he says as inside facts. There are other, different opinions to his, but they are currently not given the same platform.

I don't think people are nearly as in love with the game as they were say 30 or 40 years ago. Why would they be, it's hideous.

I share your reaction to some of the questionable statements Paul Quinn makes in his articles, as you say, especially presenting opinion and interpretation as fact.

There are other, different opinions to his, but they are currently not given the same platform.

The only platforms I'm aware of, other than his own website, Twatter, and ToffeeWeb, are the execrable Goodison News and Everton News, who no doubt like that he posts plenty and often, giving them lots of fuel for their usual Everton-baiting shite.

As for the different opinions, let's see who they are. There is another guy who posts detailed financial stuff on Twatter but I can't stand the platform and don't spend any time there unless following a direct link.

We did put up something he posted a few months back not sure I can find it though.

If you come across these different opinions, please post details and we will look to see if we can make their material into articles on this platform.

Thanks.

Yes, The Esk has me shaking my head in disbelief when he seems to be implying that Kenwright is less culpable than Moshiri for the complete mess we are in.

Kenwright was in full control of the club from when he bought it, without putting any money in, to when he sold it, but was left in charge of running it until he apparently passed away.

I think on that basis, you as a jury member, can safely convict Kenwright.

We have probably had the best of Pickford, a good shot stopper but has his faults. He stays on his line too much and palms too many out into the danger area.

Virginia looked good and deserves his chance. Otherwise, he will be gone.

I fully endorse that but I think, if it went to trial, Kenwright would get someone to interfere with the jury, that's if he still here.

The article on the BBC website gives the impression that the sale of our young central defender is a done deal in the summer.

Never forget that Kenwright spent years, 24 hours a days, 7 days a week, 52 weeks a year looking for the right owner to take us over.

Additionally, why does the current owner appear to deliberately ignore the advances of other solutions in a sale or a full and final sale to a preferred entity, 777 Partners, when it clearly does not have liquid assets to do so, nor the ability to convince the Premier League of its ability to pass any due diligence test?

With several high loan providers, 777 Partners, MSP, R&MF, providing serious and continuing funding, there are players in the background with a playbook we know little of. To date, none of them appear to have shown their motivation for so much support.

None of this is making sense, we are sailing to a precipice whereby all of them could lose but nobody is blinking in this game of poker brinkmanship.

Moshiri appears to be a Pontius Pilate, washing his hands totally of anything other than his (or his friend's) desire to get a sale pushed through.

To date, apart from the initial public 777 pitch for the club, nothing or no-one has publicly surfaced as an alternative.

Bottom line questions still needs answering:

1. Was and is Moshiri just a front for Usmanov who wants his money back?

2. Why are 777 Partners the only player? Is there no given interest from elsewhere, or is it ignored?

3. Where is 777 Partners going to get funds from and who would sensibly back them going forward?

4. Is there a white knight waiting somewhere?

Nothing about this situation makes any sense. From Moshiri pulling the plug, to assuming no other suitors are interested, to just who still has their hands in the pot..just who is dictating the sale and why, because to me it's far from a simple case of Moshiri wanting to sell.

Puppetmasters, Mozarts with money, chancers are all at play, but like an iceberg, we see just see the upper 10%.

It's 3:45 am again and I wake up thinking a out Everton ... what the hell is wrong with me? I need a cup of tea.

Certainly it seemed he could find no end of friendly media types that ignored the clear and obvious destruction of our club under his tenure.

As for the "England's No 1" argument, it's the same England manager that puts Foden on the bench. To those I think we would get any money for, Calvert-Lewin, no words on that one.

1. Don't get relegated.
2. Rich, benevolent Evertonian financial backer rides to the rescue.

Time for Mr P McCartney to invest in another arts and culture based Liverpool institution? Come on, Paul. Judy Dench must have a few bob? Mark Carney? We could do with his business nous.

I would also be interested to hear what these other opinions are. I may not agree with all that Paul posts, but the relationship between the 3 main parties here, MSP, R&MF and 777 Partners is an enigma.

For example, R&MF must have had a decent reason to block MSP but green light 777 Partners, but I've no idea what it is. And why would a supposedly basket case entity like 777 go long with around £200m of very loosely secured investment?

Right now, I see us with the absolute millstone of a stadium which cannot, given its vastly higher build cost and poor interest rate environment, come even close to paying for itself, even anchored to a Premier League club. Relegation means it will be a white elephant.

The only viable way out of this would be all 4 creditors (add Moshiri & Usmanov to the above 3) to get around a table and accept the inevitable, that the club is non-viable without all taking a serious haircut with Moshiri & Usmanov enduring the worst hair loss. Otherwise, this will be done for them in short order.

I don't see any evidence that is happening though. Feels more like they are rabbits frozen in the headlights. I think the sense of being utterly rudderless is seeping into the team. They are poor but surely not as awful as they now seem. I imagine their agents are busy right now. It feels like watching a car crash in very slow motion.

Yes, he certainly had many friends in the media but what amazes me is the number of Everton fans who could see no wrong in him. Even now, plenty think he was okay and even one of us.

Shareholders are generally last in line. So they are sitting and waiting.

The reinsurance arm of 777 Partners in Bermuda, which funded all its aquistions, could have anybody behind it and anybody's money could be involved. No-one will every find out who these parties are.

The motive of others are high returns via the interest on their loans. Moshiri is just a figurehead, always was and is. Any assets will probably be stripped. This is nothing new for Everton, Kenwright did the same.

Kenwright is no better than what we have now, but as Paul the Esk says, he was limited by the financial resources available. But we got a taste of what Kenwright would have been like with money when he got access to Moshiri's largesse.

Warning: When watching shows like Minder and Only Fools and Horses, these programs may be offensive to some people!!!

And Michael #38, yes Twitter/X/Twatter is a cesspool at times, but still seems to be a place where you can find fairly sensible Blues offering different opinions to PtE. @CitizenSuburbia @terry_smith are two that spring to mind. @SwissRamble does detailed analysis of all football clubs, although you now need to subscribe to his Substack.

My previous post was not intended to be a dig at TW. Perhaps some Blues out there with an understanding of sports business and finance may like to try and write an article that deals with some of the serious issues in a less opinionated way?

They have a loan deal with Everton FC. That's it.

I lived in hope until Rooney, Birch, false promises and dodgy friends became irrefutable evidence he was in it for his own good, not the good of Everton FC. I then spent years in despair with his and Moyes's glass ceiling and hoped he would go with the Moshiri takeover.

What a fool Moshiri has been and the first one was keeping Kenwright. I am bemused now how anyone can support him after his throwing the fans under the bus.

I'm not here to answer for Paul but I think it is implied that the content you refer to is speculation and opinion. The whole problem right now is we don't have any facts other than the backward looking financial stuff Paul does. The club has, to all intents and purposes, stopped communication at any meaningful level and I presume that is because there is a total power vacuum.

We as fans are in the dark and I guess we need to make like a mushroom.