777 Partners meet with Premier League

What decent players we have would be sold for buttons. I don't see how the new ground gets finished. We'd probably be in the Championship for years. I'd hedge my bets and go with 777 Partners.

After 777, the deluge?

On 777 Partners, if we end up in the realms of non-league football, I don't care, I will continue supporting the club. We just need to know certainty on the issues.

Once again, Cheers Bill! The People's Club.

The future looks bleak. 30 years of mediocrity have brought us here because of no leadership and no plan.

Moshiri and the late Kenwright have really put Everton's long term future up in the air.

However, I now understand the phrase, "More harm has been inflicted on this world by fools than all the evil people put together."

Well, according to some ITK on Twitter.

Does that mean 777 Partners are going to be allowed to take over the ownership of Everton?

I can only assume they're one of the entities that used to allegedly phone Kenwright for advice on how to improve themselves.

Self-serving lying bastards all.

The Financial Times has uncovered a possible winding down of 777 Partners reinsurance financial.sources. A connection between 777 Partners and Russian oligarchs has also been established.

Against this background, Moshiri seems hell-bent on selling to 777 Partners, no matter what.

Meanwhile, Chelsea get away with having a Russian-backed sleeve sponsor that the Premier League has stated it wouldn't block despite its Russian links.

Hypocrisy all over.

Moshiri is probably the biggest connection to Russian Oligarchs there is. Everything he owns is derived from on them. That is probably the biggest problem that Everton have.

Britain has become an offshore tax haven with all that comes with that and the Oligarch connection will see themselves very much in play regarding Everton.

The situation in their thinking possibly could evolve very quickly in their favour. They can sit and wait, because the money they initially put in cost them close to nothing.

It doesn't surprise me to see Russians linked with 777 Partners.

Although I don't want them at Everton, a part of me thinks they have got some balls when you consider that it probably won't be long before their fellow countrymen's world police will now be on their tails for dealing with Russian Oligarchs.

Watch any Narco documentary and it's clear that the American masters have made most of the rules so maybe it's possible that Usmanov still wants to keep hold of Everton but he's going to get forced out through sanctions?

Talking to different people doesn't help because I only hear conflicting stories but one thing that seems clear when I talk to these different people is that there are definitely other groups waiting in the wings because they want to purchase Everton.

It surely can't be long before a decision is made now because the Everton ship is currently sailing towards the Red Sea, rudderless, and those Houthi rebels are waiting!

Well, the one good thing about the Red Sea is that you can't sink in it!

I tried to look it up again but it's now blocked… hmmmm.

I wish the new stadium at Bramley-Moore Dock was built on water like that as it could be the only way we stay afloat.

The Premier League are a corrupt gang of bastards and they have it in for us whilst ignoring all the dodgy dealings of the rich.

Most of the Glazers' ownership of Manchester United was secured on loans that they passed onto the club, so effectively passing on debt to the club as I understand it.

And through fear of blasphemy, the Fenway Sports Group own multiple sports teams across North America and the obvious.

West Ham's owner built his business in the pornography industry and their CEO has involvement in the Royal Mail apparently!

Look at the American-Egyptian investment firm that own Aston Villa and have other global sporting interests.

My instinct isn't with 777 Partners, but something has to happen.

The points deduction was because of this pressure helped by the position in the table they were in. So it is with the ownership issue. Kenwright had to sell and would have sold to anyone.

By selling to an Oligarch connection, it maybe a blessing that it did not go according to plan and they found themselves under scrutiny from every angle, that Kenwright, in his continuing role, could not manage.

Now the scrutiny is on the potential new owner and rightly so. This is the result of the Evertonian community in no small measure.

Even the Premier League has found Everton to be a hot potato. The whole Everton thing is international news. There are column inches in it. Whatever is going to happen will be in full view. Yes, something is going to happen.

A digression I know, but I've swam in the Dead Sea. Well actually I've bobbed more than swam, the buoyancy from the high salt content means swimming isn't really possible. It's a truly weird sensation.

The Red Sea is also quite salty, more so than the average sea, but not only can you swim in it, you can also snorkel. You'd need to be very heavily weighted to get your body below the waterline in the Dead Sea! And in any case, there is, unlike the Red Sea, nothing to see underwater, the high salinity kills pretty much all life. Its salinity is around 7 times higher than the Red Sea.

Jordan was quite an experience, as was Syria which we also visited – about 6 months before all hell broke loose and its burgeoning tourism industry was killed stone dead with the horrific bloodbath that ensued. Very sad.

Moshiri appears to have pretty much stopped funding the club, from around 2022. If he wants anything at all back of his c £700M, he needs a sale. Yet he picks 777 Partners who, whatever else one might say about them, always looked to be higher risk in getting the speedy approvals needed.

And so it has proved. Even now, reports are the exclusivity period has been extended. Yet it is hard to imagine 777 Partners providing much more day-to-day funding, given how deep they are already in, so administration is a real and maybe even probable outcome. Moshiri loses out considerably in that scenario and we will likely be relegated.

Why would Moshiri cling to such an unpromising buyer? Why would a private equity fund undertake what I would regard as a massively risky punt of close to £200M when it is obvious it could all go pear-shaped for reasons out of their control? This is not how private equity funds operate, even leftfield ones like 777 Partners.

It leads me to an obvious conclusion. Is 777 Partneres the only way Usmanov can get his money routed back to him? If so, that would explain why what seems to me like a very likely outcome of administration doesn't seem to trouble Moshiri all that much. It may be a case of everything on 36 black, 'shit or bust'.

This season, we will receive another 3 points deduction but survive by the skin of our teeth.

Next season, the Premier League will abolish the spending rules and we will consolidate a mid-table finish. Under pressure from Man City's and Chelsea's lawyers, the Premier League will finally agree the process was flawed and, at the start of the 2025-26 season, they will reinstate any points deducted due to the “unfit for purpose rules”.

We will win the league by one point from Man City and their fans will complain that we only won it by cheating in 2022…

The wind-up order was for the reinsure arm and not the company as a whole. Yes, there could be implications to the funding model of the company but it's a specific subsidiary targeted.

Does that reflect across the whole organisation? Quite probably. There are a lot of unanswered questions over 777 Partners and, whilst few companies are clean, there's a lot to be concerned about.

@Danny #19.

The sanctions for Russian connections was supposed to be aimed at those individuals directly connected with and known to be supporting and funding Putin. Now, I don't suspect all have been sanctioned in such a way but that's a different discussion. Those not funding or connected with Putin are likely to have escaped sanctions.

Moshiri is absolutely a silent owner now and either no longer wants or appears to be able to fund his toy. It could well be that he simply wants out and doesn't care how. There's an offer on the table and he's just going to take it.

Ultimately, what happens once it's sold doesn't matter to him. When a homeowner sells their property, the neighbours usually hope it's to a concerned private individual and not a property developer or rental agency. The seller might not be so concerned as they just want to move.

I don't completely blame him in this scenario; however, as a fan, I'm worried as it could leave us in a terrible predicament.

If Everton is the pinnacle or key piece to 777's pyramid scheme, that means the club would also be the biggest asset and liability to the continued going concern. Any part of the pyramid would be predicated and leveraged on the club.

It's like leveraging multiple financial loans on your house only to find one or more financial breaches and the house is gone. Very dangerous grounds.

That about sums up the situation.Alot more will come out in the wash.I think 777 Partners are gone as a potential owner of Everton, simply because they are likely to unravel before Everton.

777 Partners agreed a takeover deal for Everton in September

Wed 13 March 2024 20:43, UK

777 Partners has done business with a Russian oligarch accused of having close ties with Vladimir Putin and the Kremlin as it looks to secure a takeover at Everton, according to Josimar.

The investigative football journalism outlet reported on its website on Wednesday (13 March) that the US investment firm's first foray into club ownership was funded by Oleg Boyko, who was sanctioned by Ukraine, Canada and Australia in 2022 for his alleged links to the Kremlin.

It said the Moscow-born oligarch became an indirect investor in 777-owned Seville in 2018 after providing a $10million loan (£7.81million).

Josimar added that while the company may be continuing to insist that Premier League approval of its takeover at Goodison Park is close, there are “no tangible signs of progress” on the deal following its recent meeting with the governing body.

It revealed that 777 declined to comment when it was contacted about the claims in the report.

There seems a massive chunk missing from the smoke and mirrors caper of 777 Partners and Moshiri begging the question why have buyers who potentially might pay more been cut out?

If fans can see it, I'm damn sure professional scrutineers can and my guess is Dumb and Dumber think they can outsmart the authorities with suitcases of unmarked bills changing hands behind the scenes.

Little wonder the Premier League are taking their time…

'Moshiri was left without £200million paperwork to sign as a PSR blunder has emerged.'

That points to an attempt to massage of the figures, since there was no legal contract. It just shows how arrogant the attitude of those that run Everton was to the Profitability and Sustainability Rules, when they would attempt on appeal to put forward the collapse of a deal that had no legal foundation as a reason for figures presented.

It also shows the type of people that Moshiri was dealing with and the type of accountant he was to allow the announcement of such a deal without any legal foundation or money received. It also points to the supposed loss of the £200million to be nothing to do with sanctions.

In a nutshell, Everton was not run in a fit and proper manner. I think.that Moshiri should be disbarred as a Company Director for that alone.

In response to the initial imposition of sanctions and the subsequent lack of communication from Canadian authorities, Oleg Boyko took legal action by filing claims against the Ministry of Foreign Affairs in the Federal Court of Canada in August 2023.

So if this guy is behind 777 Partners, we are okay, just need Usmanov to employ the same lawyers and all is clear blue waters.

I know. Tony, that you have some Intel on this which you obviously can't divulge. But it is very late now to step in. These deals take time.

Administration must be a very serious possibility now as The Esk says. There will be plenty of interest then, I expect, but it could be ruinous for the club.

I try and stay away from it all (honestly) but just think that something needs to happen in the next few days at the latest because it's getting very precarious, as I have already said.

Can't the club force the sale through court to another interested party? Like the other lot did.

The Red Sea is where our navy is at the moment as target practice for the Iranian backed rebels in Yemen who are fighting the Saudi backed government. It is the bit between the Indian Ocean and the Suez Canal.

But I fail to see how Usmanov or whoever will be able to inject more money into the club without being found out.

The new stadium is looking magnificent and is needed but it now makes us a very expensive buy.

777 Partners know that, if they withdraw or their ownership is rejected, the club has very limited other options as no other alternate buyers appear to be waiting in the wings. In many ways, the loans exacerbate the position and I'd go so far as to say they are relying on it: "Approve us or the club goes bust!"

In such a scenario, Moshiri will attempt to be the white knight citing "I tried, my hands were tied, and it's not my fault as the Premier League rejected the new buyers."

In reality, Moshiri was possibly dazzled by Kenwright that he could have his cake and eat it, or the Russians saw an opportunity which didn't pan out due to the Ukraine war.

It's all very subjective at this point and we'll know soon, although not soon enough.

I think they just want rid of us, anyway possible.

I think the other question is why did Moshiri decide so quickly that 777 Partners were the ideal people to take over the club, and not see what possible buyers beside 777 PartnerS would be interested?

It seems quite incredible that 777 Partners have pumped in huge amounts of money with no guarantee of getting ownership. And even more puzzling is that, if the club went into administration, they would be behind Rights & Media Funding and MSP in getting any of their outlay back if we went into administration.

If Everton enter administration, then a buyer steps in, assuming to get a cut-price deal, Everton get docked more points and are relegated.

But if Moshiri has no interest and no Plan B, how will he call it? Legally he owns the club, and I see more murky waters ahead around the Capex to complete the stadium, and Opex to run the club.

Surely Moshiri must be looking for a Plan B?

It seems like Blind Hope, but there is hope.

I have my own theory on Thelwell, but I'll wait to see who purchases Everton first, but can anyone tell me if they think our current model with a Do-F has been anything other than an unmitigated disaster?

Decision-making is everything, so let's hope that we hear from the Premier League very soon.

I'm usually on the same page as you but not sure what you mean about the DoF model.

It didn't work with Brands due to interference by thick and vain individuals – but seems to be working effectively with Thelwell and indeed is really now the only way to organise as a player development club. You'd struggle to identify a well-run club with sustainable practices that doesn't operate this way – and it's our lateness to this particular party that has landed us in such a lot of shit.

The article from The Athletic which someone (apologies I forget who) posted on the Branthwaite thread talks in depth about this.

I'd be very concerned if Thelwell left.

Clearly it was not working under Brands as we appointed managers with wildly different styles and overspent on ageing players that (in theory) suited whichever manager was present at the time and so ended up with an unbalanced, overpriced squad. Whether this was Brands's fault or that of Moshiri and Kenwright is difficult to discern clearly, though I'd put a large portion of blame on the latter.

Thelwell has cut our costs, lowered the age of the squad, and bought in players who suit the manager often on deferred payments. It remains to be seen how the likes of Beto and Chermiti pan out over time.

I'd say so far only Maupay has been an obviously poor purchase and even with him we will probably make our money back as he only cost £10M and I imagine Brentford will pay a similar fee if they make his loan move there permanent, which looks probable.

As I understand it, R&MF had the right of approval over any change in share ownership and used it to block MSP's planned buy-in. Yet they did not seemingly block 777 Partners, even though the latter appear to be less credible, if we believe some posters on here (I recall Mike G in particular commending MSP and their people).

Why would R&MF do that? Was it because 777 Partners were willing (on paper) to assume a much more junior position on the debt than MSP? If so, why on earth would 777 Partners take that risk?

Normally in sales like this, there will be warrants in the sale contract that protect the purchaser, especially if they are being required to fund the entity, pending completion.

Did Moshiri give those guarantees? Someone else? How much do R&MF know about the position? It appears they get their own funding from entities in the Bahamas and Cyprus. Nothing to see there?

I see the Premier League clubs have walked away from the negotiating table regards the money to the EFL clubs.

Can't really blame them, as one commentator pointed out that they will be giving more cash to owners who badly run their clubs… eg, Reading.

Anyone else know a badly run club?

Kenwright buying people, it applied to many, with Everton's money never his own?

My immediate worry, however, relates to the identity of the new owners. The Moshiri era has been a nightmare and I am just afraid that he will leave us with a final problem as he walks out the door.

Distressed sellers don't usually do good deals.

He talks about how Howard fostered a great team spiri and although we sometimes give Liverpool stick when talking about their incredible energy levels (inhalers), he talks about how Everton were simply way too fit for Bayern Munich and how he never ever felt tired when playing a night match at Goodison.

People talk about people getting Everton but it's a lot more simple imo. It's not about getting us, it's about knowing us, and this is one of the reasons why it is such a difficult period for the club, because a lot of us seem to have forgotten ourselves.

Did anyone really think he was going to hit the ground with all guns blazing? Hibbert was eased in, Seamus the same… and was even played further up the field to protect him.

Give Nathan a bit of time; he will be good for the club.

I think your last sentence is on point.

When Howard Kendall came in, he had deep knowledge of the club and supporters and the experience of being successful with the club. Joe Royle had the same and added to that was 'one of us'. Both knew that this is a giant club and fan aspirations were in line with that history.

Because of the length of time we have gone without success and because the board from the mid-'90s onward have managed expectations downward, we now find that there are no suitable managers or coaches out there who have the experience of success with the club or the link to the fans nd community that we could bring in to take the club forward.

Maybe, in light of that, we need to stick with Dyche and hope he turns out to be a Diego Simeone type manager who resurrected a sleeping giant in Atletico Madrid?

Everton FC bidder 777's funding structure starts to unravel

Fully agree. Patterson is the future. He will take over from Coleman and will be everything we hope he will be.

Going back years ago, even Tommy Wright was given time. Patterson is learning in a dysfunctional team in a dysfunctional club. Patience and time will see him establish himself.

MSP, I recall, have two excellent businessmen who are both longstanding Evertonians and would have been the perfect fit IMO.

This 777 deal, along with the suggestion that Moshiri & Usmanov will not get their money back, stinks to me and suggests Usmanov's hand is still on the tiller.

This is the problem with funding pyramids. If you have the cashflow, lots of shortfalls can be disguised by moving the cash around. 'Robbing Peter to pay Paul'. It can come crashing down if the cashflow stops.

I suspect Everton as a club are seen as the big ticket for cashflow generation alone. What we could see though is the cash moved from Everton's books to balance the broader pyramid.

But, when Everton need the cash to buy players, and if multiple chickens come home to roost... They'll always need some bigger cash generation scheme.

I can't access the article as it's behind a paywall but if you were building a pyramid scheme, you'd need something that had positive cashflow, which we haven't had for a number of years.

We're asking a lot from the incremental stadium revenues to fix that – too much in my view – and even then, only if the debt is restructured at a much much lower interest rate (or it allows for debt interest 'holidays').

Many years later, when people started going to Spain, etc for holidays and my mum wanted to go, my dad replied:

"I've been abroad and I don't think much of it."

Just like we had a DoF and I didn't think much of him.

This reminds me of my arl fella when asked by a friend who was going on holiday to Tunisia if he'd been and if he'd liked it.

"No, I didn't bloody like it!" he said.

"Why not?"

"The bloody Germans were shooting at us!"