Premier League demand more from 777 Partners

Masters and Co appear to me like they want us gone. Just my sense of things.

Who are the Premier League with their flakey rules?

It all seems a bit messy. 777 Partners already having pumped money into the club along with MSP who are still being mentioned. All complex as ever.

I'll start thinking about the match against Palace. If this isn't happening for a fortnight, I won't think about it.

After all, they are also supposed to represent the fans who buy the merchandise and support the club wherever they can and turn up week after week. This is where we are and this is what we have to do to fix it.

I don't know what we have done, but I'm not holding out much hope on getting points back or 777 Partners being granted permission to buy us.

The audited accounts may now have been promised or even already submitted. So the end game is here. Or alternatively they have still not submitted them and the Premier League has rightly called time.

If they get he nod, then we have no choice but to give them a chance in my opinion. It would be detrimental to the club and team of do otherwise. We need some unity to progress.

One thing I would caution is take absolutely no notice of any promises or any talk from this company. They seem to have a record of saying one thing and doing something completely different. A smoke and mirrors approach to appease in public and do the opposite in private.

So by all means give them a chance, but essentially judge them by their actual actions ….take no notice whatsoever of the rhetoric. The phrase “talk is cheap” comes to mind.

If they've submitted the essential audited accounts and the Premier League have forensically scoured them and finds them fit and proper, then I'm open-minded about them and wish them every success.

Whilst at the same time, I hope the financial detectives in our fanbase scrutinise their every move to try and safeguard the club as best we can.

Here's hoping.

The simple fact is; From the day and hour Moshiri and his shady senior partner walked into this club, we have lurched from one disaster to another. ALL of our troubles have been self-inflicted.

We were miserable under Kenwright's glass ceiling and false promises and, in the words of Morrissey, Heaven knows we're miserable now.

The odious Masters did not put us in this position. He and his cronies are simply delighting in the opportunity our owners have given them. They were, to all intents and purposes, finished. They were never going to look this particular gift horse in the mouth.

I'm no legal expert. I don't completely understand everything that is happening. The waters are too murky for my simple mind, but I do know there have been crimes against common sense and reason. I know our club has been committing them for years.
We didn't get where we are for free. It cost us £750M.

The Evertonian has been betrayed beyond measure. That really breaks my heart.

Unfortunately, club owners are like family members. You don't get to choose who they are.

I can't control it. I think I can control what happens on the pitch. But I can't.

It's the weekend and right now I'm just focussed on the match.

Best wishes by the way and if you're there, give us a shout.

I don't recall too many on here complaining that we are spending too much or flouting financial rules at the time.

Imagine having Ancelotti in charge and being able to spend, a bit like Chelsea, Man City, Man Utd, Arsenal or Liverpool have. Do you think we would be struggling or challenging?

Sport is about being able to compete, at the moment 75% of the league can't compete and have to sell their best players just to stay in the Premier League. That isn't Moshiri's or Kenwright's fault.

We all know there are serious flaws with PSR which need addressing just to enable teams to compete. I would go a step further and restrict the successful clubs and free up recruitment for the lower teams just to try and generate competition but that will never happen. The game is a business now and money is all it's about.

Ratcliffe is a hugely successful businessman, with a well-run multi-billion pound business, who employs the best lawyers and accountants money can buy, and Man Utd are one of the richest clubs in the world. 777 Partners are a shady outfit with opaque business practices and a bad reputation, and we are a club that leaps effortlessly from one fuck-up to another, and are on the brink of going into administration.

As Dave Cashen says, we have been betrayed by useless ownership. But unlike the Mancs, we are staggering into the arms of another set of fools.

We were the only club who wanted the Big 6 to be deducted points and fined heavily for trying to leave the Premier League. That's why we are being hounded. We are also an easy target.

I don't recall anybody complaining about spending money either. After years of suffering Kenwright trying to play in the rich man's playground with a pauper's wallet, it was widely welcomed.

The alarm bells started ringing for many when they saw what we were getting for our money. We consistently over-paid in both transfer fees and wages for players nobody else was interested in. The crime wasn't spending the money. It was squandering it so wastefully.

The Premier League are trying to flex muscle they probably won't have this time next year. They need a club to make an example of. They didn't target Everton. We did that all by ourselves

They have not stated that they have provided all the required information to the Premier League. Anyway, the final deal has to be negotiated on receiving the outcome of the appeal against the commission's sanctions. Even if approved by the Premier League, they still may not be in a position to takeover Everton or they may have access to crypto funds.

Sorry, no end in sight, I wish there was. 777 Partners could be full of it.

Hopefully they will be hiding in shame as the initial points deduction is correctly over-ruled. UTFT!

There are going to be a lot of problems with them but, if we survive and get the stadium ready with 777 Partners, so be it.

After the stadium is finished and we are still in the Premier League, then we have better options going forward. But at the minute, we desperately need 777 Partners, despite how bad it feels.

Nobody can argue against us being a shambles off the pitch.

We had no sell-on fee for a dozen players we spent £20M on.

It is fine margins; without Ferguson or Wenger, both Man Utd and Arsenal could well have been in the same position as ourselves.

If we ever unearthed another Kendall, how long could we keep hold of him before one of the big boys took him away?

The managed decline has seen us go from competing with top teams to hoping there are 3 worse teams in the last 30 years.

Back to the article, I wouldn't be surprised if 777 Partners are backed by Russian money. They are obviously dodgy; otherwise, the deal would have been ratified months ago. Trouble is, there doesn't appear to be any other parties interested, so where does that leave us?

We can't know for sure either way but I had actually thought that the bigger stumbling block would be FCA approval but that was given almost 2 months ago.

If it is in fact the Premier League who has been causing the delay, and permission is refused, do not be surprised to see a legal case arising. 777 Partners have a lot of money at stake here on an entity that is facing administration as a real possibility. What a mess.

I feel that 777 Partners should be given the chance to put this in place in the event their ownership be approved.

The stadium move in 2025 should catapult the club into a far higher level in terms of matchday income and non-footballing events. For the remainder of this season and next, the best we can hope for in my view is to retain our manager and coaching staff, aided by the continuing efforts of Kevin Thelwell, and for a new (and dynamic) CEO and management board to give the club much needed strategic direction.

As for Masters and the dubious Premier League, I have a strong feeling that something is brewing, and – whilst it seems that Everton FC are their favourite plaything right now – they cannot continue to operate in the way they have been, which strikes me as both secretive and convoluted in terms of how decisions are made. Government must intervene in the interests of our national game.

Ah well, as Danny says, I expect most of us would just prefer to focus upon the Palace game and hope against hope we get some points back that were stolen from us. Things might just seem a whole lot more hopeful with us in 14th place, and perhaps we might just have a honeymoon period when 777 Partners take the reins, who knows?

777 Partners have obviously been harder to confirm. Some of their other football operations are there for the Premier League to scrutinise. If they are as dodgy as some reports claim, we may be looking for other investors next week, with a load more debt heaped on the potential new investor.

This feels like an owner just wanting to get rid (Oh, how quiet he has been) and a 'company' taking full advantage of the situation.

I am of the opinion, rightly or wrongly, that there will be others in the shadows waiting to see what happens.

If any of this is true, I would say that, of all clubs, Everton have made the job of the Premier League easy.

There is a PhD thesis waiting to be written on Everton, as the embodiment of hubris and nemesis. What Everton supporters have witnessed will be remembered for generations as possibly the worst mismanagement in the history of sport.

Oh, we're also unlucky as well.

I agree with you. I think to a large extent, the poor running of the club (naive at best), has allowed Everton to become the scapegoat that the Premier League were looking for. I think it's no coincidence that the recent transfer window closed without significant business being done by most clubs, because they are all looking at our 10-point deduction and thinking twice.

If the Premier League wanted to send a message to government that it didn't need an independent regulator, then Everton stepped forward like a willing message-boy. I don't buy many conspiracy theories and I certainly don't buy the current one that the Premier League have it in for us.

Can anyone imagine the likes of Daniel Levy allowing Tottenham to be run like Everton?

Nevertheless we deserve something better than 777,
but not 666.

That is two unscrupulous individuals, who have tarnished the name of Everton and made the best fanbase victims of their greed and lack of genuine interest in what was best for the club they claim(ed) they loved!

What has that to do with the ones who ultimately feel the brunt of it?

For sure they will do all they can to protect their asset until the stadium is built, at which point, they will either flip us for a quick profit, or they will make us the jewel in the crown.

Both scenarios are better than administration — which I believe we face if the takeover isn't approved.

But Everton as the target of these efforts has brought it upon ourselves? Go figure.

And Rob, there is zero evidence that 777 Partners are backed by Russian money, so stop making stuff up.

Give us back 6 of our points on a Wednesday.
Refuse 777 Partners on the Friday following.
Deduct 9 points when we quickly fall into administration.

Masters is a happy man. The only one.

777 Partners would not be my ideal takeover but, if we stay up this season – I think we are a good bet to – and next season and then sold on to whoever, who have serious money, it is maybe the best solution.

Strange. Perhaps this is good news for us, that they are constructing a way to reduce the 10-point deduction to zero, whilst helping Premier League to save face.

Is there a Chinese owner or Director in Premier League? Saving face is a massive requirement for Chinese people.

Well, I do not see administration as an only other option, the club is available at an unbelievable bargain price; 777 Partners know that and so will others who will be straight in should they be rejected.

They can see one of the greatest stadiums with all over potential before their eyes, and right in the heart of Liverpool. I for one hope 777 Partners are unsuccessful because, for me, there are too many Red flags, out to make a quick profit, lease our ground and run to the hills with the profits.

If the Premier League give them the green flag, then you know we are really screwed, because the Premier League will not give an ounce of an advantage to us.

Fingers crossed they fail the takeover.

Is he not more likely to put more money in to keep his investment alive?

Moshiri has too much to lose if we go into Administration.

If 777 Partners are refused, we go into administration and an automatic further points deduction. And let's not forget that Masters and his Leeds chum can decide on 'compensation' payments to other clubs that could also send us into administration.

The Mancs and Co are already waiting to take our best players for knock-down fees to erm help us out.

The Premier League is so rotten and corrupt at all levels that there seems to be little point in remaining in it. It has become glorified open training sessions for the Sky 6. There's certainly little or no enjoyment in consuming this product any more as it is completely rigged.

Competing for titles: £800M to £1B
Competing for top 4: £600M to £800M
Competing for top 6: £300M to £600M
Competing for top 8: £100M to £300M

I can't see any potential purchasers funding this sort of spending while our debt levels are so high – and even if they were willing financial rules would prohibit it.

The best we can hope for is someone to keep us afloat for a couple of seasons while the stadium is completed.

Our most likely route to being competitive now is a player development strategy within a multi-club model. Sad state of football.

Personally, I'm not a fan of American owners, as with other clubs, they're more interested in profit than football. The new stadium will guarantee them millions more revenue with corporate clients and bigger capacity.

I still believe Masters and Co shafted us, considering going into administration is a 9-point deduction.

Maybe we are paranoid, but referees' decisions against us, and no penalties awarded this season, is very fishy to say the least?

Then to top it off 9pts deduction for going into administration. Rock bottom.

As the saying goes “Death by a 1000 cuts.” This is so Everton. UTFTs.

His chum, Usmanov… well, that's a different matter.

As far as the appeal is concerned, today it is very much "Is anybody there?"

That's why it's a shame that Kenwright is no longer with us, just so he could see what he has been responsible for. The slow death of Everton. Moshiri was Kenwright's man and first choice, let's not forget.

This is why Goodison holds no affection from me, as the past few decades have been ruined by flabby tears and zero success.

That means they have proved they have the funds to buy the club, and finance it for the next 3 years.

What the Premier League are waiting for is anyone's guess.

Speculation:-

1. Moshiri is asked will he continue to fund the club if 777 Partners are rejected.

2. Moshiri is asked to drop the appeal if 777 Partners are approved.

3. Moshiri is asked to put up guarantees if 777 Partners are approved.

4. Moshiri is asked if Usmanov has any connection to this deal.

Any other thoughts?

An internal memo, sent yesterday by 777's managing partners, said Alfalla would be replaced by Brett Kaufman, who had been running his own CFO outsourcing and consulting firm, according to his LinkedIn profile.

I said 777 Partners are dodgy and I wouldn't be surprised if they are backed by Russian money. I didn't say I believed they are backed by Russian money.

2 separate things.

I am not making stuff up, just voicing an opinion like everyone else here. No offence intended.

I'm with you on this one. I hate the idea that we should end up in the hands of these American shysters, but we are into them for millions in loans and if they don't get approval and decide to call in these loans, we can't repay them, hence administration and a further 9 points deduction.

They are the only player in town at the moment, but a major worry of mine is that they'll asset strip us and lease or sell off the stadium, they certainly won't be interested in improving our football club for the benefit of long-suffering supporters.

Even if 777 Partners fail, they will still get their money back that they loaned Everton; if they succeed, they will turn debt into equity and have an absolute gold mine, with the new stadium and the benifits of commercial and sponsorships.

Make no mistake, they are not doing it for Everton Football Club, or the supporters, they are out to make a quick buck. Administration, relegation, if any of these happen, anyone coming in to press the reset button will get Everton on the cheap, and the value of the club will shoot up once the new stadium is up and running.

Whoever takes over at Everton will have one hell of an investment on their hands, that's why I hope 777 Partners do not get approval. You watch how quick another investor throws his hat into the ring, should 777 Partners not get approval.

I hate the phrase “Careful what you wish for” but I have a very bad feeling should 777 Partners take over.

All the Premier League owners are only really interested in the money now.

Sorry I know in bad taste...

I should point out just in case of offence I have zero idea who is involved.

If the BMD investment is £700M then it will have to generate £77M/year to match the much simpler stock market investment.

The ludicrous and arbitrary 10-point deduction at least crystalised out what had to be done, and Dyche and his players were able to overcome the punishment in rapid order. Leaving any reduction of the 10 points, plus the threat of another 10 point deduction (or would it be 20 for a second offence), plus the uncertainty as to what would happen if 777 were denied their purchase – or perhaps a further investigation if they were allowed to purchase – mean Everton has become impossible to value and that anything which takes place on the pitch is almost entirely irrelevant.

This is one of the most egregious injustices I have ever seen. In terms of misuse of process, it stands alongside the sub-postmasters' scandal.

On the upside, at least Ed Davey's disgusting behaviour has finally terminated the party he leads. I hope we see exactly the same thing happen to the Premier League, an enterprise whose destruction I welcome.

I was expecting 10 to 6.

But bad news will be out after Monday due to the game being on TV.

I think the point is they don't have the money, the money they have put into the club is all borrowed from a finance company.

There is a report on Twitter today stating that, if 777 Partners don't get control of Everton, then 777 Partners themselves will be in danger of going into administration.

Phillepe Auclair, a French journalist, has also seen minutes from a meeting that 777 had which shows that, if they did get control, they would look to sell certain assets to get back most of the money they owe the finance company they borrowed the money from.

The article also went on to say that, if they don't get to takeover Everton, they are behind and Rights & Media Funding and MSP Capital, who have charges against the stadium.

So they need us more than we need them. Whatever happens, I think we are between a rock and a hard place.

It's a bit silly saying when it'll be announced has any bearing on whether it's good or bad news.

I agree with you and have been writing saying from the off that the stadium is too small for the cost involved to generate any significant return to the club.

I read somewhere the new stadium will increase match-day revenue from £20M per season to £55M.

Is some guy sitting, as we speak, up late, pondering our future? Working through the representations from our KC?
Across town is another guy, on double minimum wage, looking, in bewilderment, at the 777 stuff.

In the name of God, what the fuck is happening? Despite the mismanagement, despite the hatred of Liverpool, apart from the team Liverpool FC, we deserve more respect than the money thieves at the Premier League give us.

Just about all the online football sites and Alan Myers.

As for 777 Partners funding in such circumstances, it will stay as loans, probably like MSP, rather than convert to equity. Z

The last provision by 777 Partners was a guarantee to provide funds, rather than a loan. I am sure that the takeover agreement that Moshiri has with 777 Partners is subject to them being able to fulfil the FCA and Premier League ownership requirements.

It is reported that the Premier League has asked Moshiri and 777 Partners for further new information in a letter dated 15 February 2024. I may not have made this point clearly in a earlier post, since I did not mention the Premier League as being involved.

As for the appeal, it appears to be running parallel with the fit and proper ownership issue. They may even be interconnected because the repercussions for the Premier League are now enormous.

I received a reply back and all being well, we will not see the banner at future derby matches.

Thank you for your email into the Club.

The matter you raise is discussed at every meeting we have with the supporter groups representatives prior to any derby fixture. Both Police and Club agree that such a Steau banner should not be displayed and will be removed should it appear inside the stadium. Certainly, here we would treat it as an offensive banner.

I read that figure but that extra £35M per season boost to revenue could cost between £30M and £70M per season in interest charges on the £750M cost of the stadium, depending on what rate of interest is being charged for the loans.

"Right, here's yer 10 points back but 777 can fuck off!" Maybe not word for word like… 🤣

There's no denying the various loans are killing us but that would have been the case if the stadium had been built for 60,000, the capacity which most of us hoped for.

The Premier League may just be our saviours here. There will be better buyers if we just hold our nerve.

No matter if the appeal process is thrown out or successful, the 777 debacle is waiting as the next cab off the rank.

Pulling rabbits out of hats is an understatement but not a strategy and there is a very real danger that, unless Moshiri continues to back us, we would end up in administration and never get to play in the bew stadium at Bramley-Moore Dock.

Masters, of course, would merely say it has nothing to do with them, Everton knew the rules. There is a sinking feeling that's hard to get rid of at the moment because we know our fate lies in the hands of others. Make no mistake: the Premier League are jointly culpable in its management of this alleged breach, and the handling of the 777 Partners fit and proper ownership, for our continued financial plight.

We were in danger before they deemed it necessary to take the action they did, but perversely they used sanctions designed to ensure a club does not fail, to drive us to the cliff edge of administration.

One points to the failings of ownership and management, its compounded decisions for 20 years, of its incompetence in decision-making and day-to-day management, but we are left hoping for a shining knight in armour to ride in and save us. Right now, he is nowhere to be seen…

These are dark days for the club, it all feels engineered, the violation in context to the outcome is perverse… worse than that, it becomes vindictive. Gird your loins, we are in a fight for the very existence of the thing we all love. Everton Football Club.

Keeping it on the table is nothing but a deterrent to would-be buyers (if they exist). They waived through Jim Ratcliffe's buy-in for Man Utd long after 777 Partners entered into scrutiny. Why?

If 777 Partners aren't fit and proper owners, then pull the plug instead of sustaining this charade. Force Moshiri to put up or shut up.

I did the same thing a few seasons ago, and was assured by LFC that the offending banner would be removed.

I have seen Deliverance (the film) so although never experiencing it myself, or even wanting to, I fully understand what goes on between these types! :-)

If it's the best (only?) deal for The Club, remains to be seen…

777 were acceptable for the FAs in Germany, France, Italy, Spain, Belgium, Brazil, Australia – also getting a seat at
Uefa table!

Secondly, Burnley's takeover went through as quick as a flash! The new owners mortgaged the club, used £42M of in-house funds to fund the takeover. Burnley are now £90M worse off.

How can the Premier League shift the goal posts?

I feel like we're listening to duelling banjos in the form of 777 and MSP. I shudder to think what comes next.

The 777 business model is precarious, pyramid-like, and likely to collapse like a house of cards, if it isn't already. The Premier League are wary of this, new owner test rules have greater rigour, but the alternative may well be administration, subject to Moshiri's intentions.

There is no safe harbour here. Make no mistake: we are in very dangerous waters. And yes, the ridiculous actions of the Premier League through the PSR charges and sanctions have contributed to our plight, as has the kamikaze management of our club.

I doubt he's in the least bit concerned if the Premier League tries to enforce any guarantee. The money, to the extent there really is any, may be in Iran – or the BVI, or wrapped up behind layers of complex financial instruments.

I also strongly doubt other investors are poised to prop us up if 777 Partners falls over.

Although I worry about 777 Partners, I worry much more about the deal not going ahead.

If 777 Partners take over and things suddenly go tits up, their governance again gets scrutinised for allowing cowboys to pass the ‘fit and proper' test.

I believe ultimately the stadium will be sold, our best option being to rent it from whoever the owner eventually is.

I would like to, but not for any nefarious hanky panky!

Oh No!

Just the Music Dude, and good Old Creole, Gumbo and Jambalaya!

Yee Hah!

It's 777 or bust. If they are that financially dodgy, how come the FCA approved them almost 2 months ago? Are they less vigorous in that regard than the Premier League? Doubt it.

Like Robert, 777 still fills me with trepidation. The numbers don't stack up. The new stadium earns us a hill of beans compared to its truly massive cost and the likely interest on it (adjusted for the humungously high risk level). But 777 is all we have. I see no white knight.

We now metaphorically shop at Woolies. That is, if we're even allowed in. Moshiri, along with the Kenwright poodle, will become a textbook example of disastrous management in any industry sector, not just football. What would Everton do? Go into administration, why not?

It is in the interest of the city of Liverpool that Everton play Premier League football in it as it is the keystone in their development plan. Could they possibly do anything helpful if we are at the point of going tits up?

"It's 777 or bust. If they are that financially dodgy, how come the FCA approved them almost 2 months ago?" And others that keep regurgitating this FCA approval thing.

It was reported in a rag with no source provided. MK has pointed out that it is not recorded on the FCA website and went so far as to query it with the FCA.

Their response was that if it's not recorded they it has not happened but that there may, or may not, be a review in progress which they cannot comment on.

Please correct me if I got this wrong, Michael.

I can see the 777 Partners going the same way as MSP Capital and Moshiri having to pay up, which is dodgy, or a potential new owner will emerge.

I think the delay of the appeal result is very much tied up in this scenario, so the Premier League will be under pressure to announce a significant points deduction, which will dictate the result of the second commission. The commission regarding compensation will be put on the long figure.

Dealing with Moshiri is a nightmare when you consider where his money comes from, the influence of his backers on him, who his advisors could be, and the amount of unsanctioned money slushing about looking for a legitimate home.

If 777 Partners don't have the clout to push the deal through, and I suspect the Premier League's requests under due diligence are what they would have expected, then it's likely that they are not going to be fit and proper.

I know Moshiri wasn't fit and proper either, but our debt funding now is taking us close to the edge. We need a white knight, and fast.

If 777 Partners get signed off, then it's going to get rough.

For those who missed it, the discussion of FCA approval appears on this thread: Yet more dirt on 777 Partners dug up by Josimar.

FCA's mainstream activity is the review and approval of companies providing financial services; once approved, they appear on the FCA's Financial Services Register. 777 Partners still do not appear on that register as an approved company.

However, that may not be the end of it; would 777 Partners be providing regulated financial products or services as owners of Everton FC Co Ltd? I don't think so, although Graham on that previous thread thought they need credit licensing for the purposes of season ticket financing for fans.

My thoughts are that such a function is already provided and (if required?) approved for Everton FC, who are the providers of season tickets to fans. But there could easily be a finance company behind EFC that is enabling that, I suppose?

This made me wonder if FCA approval of 777 Partners may take a different form in this instance. The devil is, of course, in the details.

That link above to the register search includes a menu item that I failed to spot previously, leading to Other Registers… 12 of them!!! Do 777 Partners score on any of those???

Check back here in a few hours, folks!

It is most likely that the sale will collapse and the club will go into administration if there is no other suitable buyer prepared to step in.

We also have an even bigger headache than the points deduction and that is the financial position of the club. We have new potential owners who are struggling to provide the clarity that they have the funds to make them fit and proper people to run the club.

Fans at some of the clubs they own have demonstrated that they are very unhappy with 777's ownership of their clubs. The alternative to 777 Partners getting control of the club is the likelihood that the club will slide into administration and an automatic 9-point deduction.

Who knows how these decisions will pan out but it's very hard to see a positive outcome to any of this.

Tell Masters and his cronies if they wish to relegate us, that we will get an injunction against his corrupt organisation to prevent this until all of Man City's charges are dealt with. After all, their breaches go back over 10 years.

Also, him and his buddies have turned a blind eye to the Russian monies of Chelsea since 2004 and also turned a blind eye to the murderers money in Newcastle Utd.

I wonder… is he squeaky clean? Worth checking!

Fit and proper like the owners of Man Utd, Newcastle, PSG, Real Madrid, Man City, Reading. The list is quite extensive
Or are we just talking money here?

It's like some posters have slagged us off for waving cards with the word "Corrupt" on them. Well, corruption doesn't necessarily mean a bung was involved. Unless, of course, it's Uefa or Fifa!

Regardless of the outcome of our future, the whole football system needs a dramatic overhaul, starting with the Premier League.

If anything good comes out of our situation, it's that the “corrupt” Premier League will not survive in its present form.

Cos "fit and proper" appears exactly nowhere in the Premier League Handbook.

Where are you guys getting this from?

They are unlikely to be able to do that. The loan would have terms over a period and interest charged. They would be secured against equity. Moshiri, if 777 do not provide funds, would then have to step in. He is required under Profitability and Sustainably Rules to provide a yearly letter of guarantee for funds should Everton require them, if the rules are likely to be breached. 777 Partners did provide a letter of guarantee for the last funding shortfall. I don't know where this sits in the grand scheme of things.

Profit and Sustainability Rules; Letter of Guarantee of Funds:

The Premier League Profit and Sustainability Rules require clubs to provide a "Letter of Guarantee of funds" to demonstrate their financial capability to fund operations for the upcoming season. This letter serves as a commitment from the club's owners or shareholders to cover any financial shortfalls that may arise during the season. It's essentially a form of financial assurance to ensure that the club can meet its financial obligations.

So as usual, the situation is as clear as mud. We may have had FCA approval, we may not, and what that approval actually covers and signifies is not clear either.

Anyway I suppose we have to adhere to the Premier League handbook where it says the exact punishment a club should expect. Or does it?

Not sure what the letter of guarantee looks like but it is unlikely to mean that funds are ready and waiting and committed to propping Everton up if disaster strikes.

If only we had a member on the board that could try the same tactic; shame we have not got a board.

To some people, the rigid interpretation of the “handbook” should apply; however, in most cases, including ours, there are numerous fines that can be brought in.

Fit and proper, or the Directors test in this case, is open to interpretation: 777 Partners or the Saudi Wealth Fund, take your pick.

Unfortunately some seem to nitpick and take the written word as Gospel.

"where it says the exact punishment a club should expect."

I'm sure you must know by now that it says the commission was required to issue whatever punishment they saw fit. Which is arguably exactly what they did.

You can argue as much as you want, and make every excuse you can, to somehow support the decision made by the commission. You can attempt to justify the opposite side of the coin that many of us see, that is your right. However, as much as you try and put the other side of the case, expect the opposite.

The Premier League are corrupt in what they have done.

For me, screaming "Corruption" has to involve a little more than a knee-jerk reaction to something you don't like. Something can be unfair and unjust without being the result of corruption.

I think use of a word as strong as that requires a higher level of proof beyond the circumstantial coincidences and inferred intentions that have been assembled much along the lines of a conspiracy theory to justify the "Corruption" counter-charge against seemingly everything the Premier League is and does.

As such, I think even a minimal understanding of the rulebook that provides the parameters against which any charge of corruption must be evaluated, is essential. Without that, for me at least, it's just so much howling at the wind.

As I've said before, numerous times now, there are glaring injustices, obvious unfairness, and a complete lack of justification for the disproportionate punishment that I hope have all contributed to a good result from the appeal. But we still don't know and are forced to wait and see.

But sadly I can see the difference of views continuing beyond the appeal finding, whatever it is: If they give us anything back at all, that proves there was corruption; whereas if there's no change or they double down… well, obviously there's even more corruption than we ever thought possible!

The Premier League has a set of rules and standards for individuals seeking to own a club in the league. These standards encompass various aspects such as financial stability, good character, and involvement in the running of the club. Potential club owners undergo a rigorous owners' and directors' test to ensure they meet the Premier League's criteria for ownership. This helps maintain the integrity and stability of the league and its member clubs.

If a club is in breach of the Profitability and Sustainability Rules, it could face sanctions or penalties from the league. In such cases, the league may require the club to demonstrate a change in ownership that can ensure compliance with the rules. This may involve showing that the new ownership has the financial capability and commitment to meet the league's requirements.

It's important for the club to work closely with the Premier League and legal advisors to navigate through such situations.

Maybe need 777 Partners to buy a few bits of hardware!

It originally was that, if a owner provided the correct financial profile, but now Government involvement has brought politics into it and allies or non-allies are considered. But with 777 Partners, their financial profile is a hurdle.

The Premier League are not corrupt, they were never anything more than to preserve the vested interests of their members, including Everton. They sailed close to the wind from the start as far as regulation was concerned, with a light touch. They were primarily interested in media contracts and owners with money. They then under the pressure of threated Government regulation decided to tighten up and found some of their members in difficulties and in breach of the rules, which no amount of monitoring could recover.

They had to act and thought they could without accountability. Everton were singled out because it was favoured by the government to investigate Russian involvement and both Kenwright and Barrett-Baxendale were identified as the incompetents that they were. Man City were more difficult.

Some may view this as corrupt, but for the Premier League, it was following the path of least resistance. The only path available. That is why it is not so black and white and the situation is still evolving.

777 is only 5 months along.

So the question is how long will 777 Partners keep pumping money into Everton for day-to-day expenses when it's looking like they will never get the go-ahead to take control?

The downside for 777 Partners is that, if this forced the club into administration, they are behind both Rights & Media Funding and MSP Capital for claims against the club.