17/10/2023 4comments  |  Jump to last

Josimar have published a fourth investigate article looking at the finances of proposed owners of Everton, 777 Partners, this time focusing on the amount they appear to owe one of their biggest creditors.

The degree to which 777 Partners is indebted to Kenneth King is difficult to overstate. Josimar has seen evidence that, as of 17 November 2022 – the date on which A-CAP lent them another 10 million US dollars – 777 owed King’s company a total of exactly 172,254,932 dollars and 42 cents. Moreover, according to sources familiar with the transactions, this figure represents only a fraction of the amount due to King’s other companies, with Haymarket being owed the most of all.

Yet 777 maintain that their financial situation is nowhere as perilous as these numbers suggest, that their football business has been built using their own money, and that they have embarked on a journey to profitability.

» Read the full article at Josimar

Reader Comments (4)

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Tony Everan
1 Posted 17/10/2023 at 22:08:10
Another week, another article highlighting late payments, non payments and more debt.

Putting two and two together from these multiple articles, it's going to be a difficult task to prove to the authorities that they have the money and liquidity to buy Everton.

Michael Kenrick
2 Posted 17/10/2023 at 22:50:22
Okay, just for the sake clarity, "missed payroll" means they didn't pay their staff on the expected date, that payroll was delayed, not that the poor buggers went unpaid for July… or for every month since.

And King seems a willing and able provider of funds, maybe even a part of the 777 operation, rather than a totally independent creditor, as Josimar seem to suggest. Otherwise, why would he continue to provide funding?

It may all be just the way some people operate in the world of high finance. So nice to be on the outside, sitting on a white stallion and looking in from a conveniently judgemental perspective on the players and their pots and pots of mullah.

The ones that matter are the Premier League and FCA; can they be sold a good story? Only time will tell.

Jerome Shields
3 Posted 20/10/2023 at 09:31:25
I have a hunch that there are a lot of Evertonians in Norway. They also love the Tango.
Jim Lloyd
4 Posted 20/10/2023 at 10:05:14
Well, we'll soon find out.

First of all, I think the group seem to have given Farhad Moshiri the undertakings he wants: (a) to have the funds to buy his shares: and (b) have access to the funds to build and own the stadium.

I'm not so sure that the other American group would have put over a £100M into the stadium, if they had any doubts about losing their money.

My guess is this Josimar are stitching up a story out of a lateish payment, not a non-payment.

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