24/03/2024 84comments  |  Jump to last

Updated 777 Partners' purchase of Everton FC has been conditionally approved by the Premier League, according to Bloomberg News sources but subsequent reporting suggests that the letter appears to be an ultimatum to the Florida-based investment firm.

In a report that broke late on Friday night UK time, the news agency's Canadian arm claim the League communicated to the Florida-based investment firm by letter last week that it is "currently minded" to approve the deal 777 Partners struck with Farhad Moshiri back in mid-September to buy out his 94.1% stake in the Club, "subject to conditions".

According to reports in England on Saturday and one from Norwegian digital investigative outlet, Josimar, those conditions are likely to be stringent, time-sensitive, include stipulations around 777's ability to fund the club and a failure to provide those concrete assurances would mean the League will not provide their approval, forcing Moshiri to look elsewhere for a buyer.

Indeed, Josimar cast doubt on the Miami company's ability to meet the League's demands which centre on what "multiple sources who have seen the letter" say are four key conditions: conversion of the loans that 777 have so far furnished the Club into equity; the placement of funding for Everton's operations for the remainder of the season in an escrow account; provsion of proof of funding to complete the stadium at Bramley-Moore Dock; and the repayment of the £158m loan that MSP Sports Capital provided in January within the next three weeks.

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A Premier League board consisting in part of Chair Alison Brittain, Chief Executive Richard Masters, and member Mai Fyfield has been reviewing 777's takeover bid for the past six months and recently sought more information from the firm's co-founders, Josh Wander and Steve Pasko, with at least one of the pair meeting with League officials this month.

Even if true, the suggestion that 777 have been granted tentative approval to proceed with the purchase of Moshiri's shares does not guarantee that they will get the green light — again, those unconfirmed conditions would still need to be met and final sign-off is required by the Premier League's recenty implemented independent review panel — but it would be the clearest indication yet that the takeover could go through.

Representatives of 777 Partners did not comment when pressed for confirmation of the Premier League's communiqué  by Bloomberg but the Liverpool Echo contend that, as far as Everton and 777 are concerned, nothing has changed and no formal decision on the takeover is expected before the Club’s hearing on a second charge of breaching Profitability and Sustainability Rules next week.

777 Partners have been dogged in recent months with questions and concerns over the financial health of the company and its various associated entities and subsidiaries, with Josimar running a series of articles casting doubt on their ability to fund the buy-out of Everton.

The Premier League sought evidence from Wander and Pasko that they would not only be able to raise the money needed to purchase Moshiri's shares — initial reports suggest the British-Iranian billionaire was seeking up to £500m but that figure could end up being as low as £130m according to Josimar and the exact nature of what has been described as a heavily incentivised deal have not been disclosed — but also be able to fund the club for the next three years.

777 Partners have already provided Everton with more than £150m in loan provisions since striking their deal with Moshiri, cash that has chiefly gone towards successive tranches of payments due to Laing O'Rourke, the contractor leading the construction of Everton Stadium.

It was always expected that, should the takeover go ahead, 777 Partners would seek to convert those intial loans to equity anyway and then renegotiate the terms of Everton's other outstanding loans with Rights & Media Funding, Metro Bank and MSP Sports Capital, thought to be worth more than £500m.

Should the Premier League fail to approve 777's bid, Paul Joyce in The Times has made mention of the belief that there are other interested parties who could step with a takeover proposal of their own.


Reader Comments (84)

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Colin Glassar
1 Posted 23/03/2024 at 00:06:05
Saw this earlier. Pray for us.
Si Cooper
2 Posted 23/03/2024 at 00:20:37
I'm still too under-informed about 777 Partners and club owners in general to do anything but guess about how this may pan out for us.

Don't they have to provide some proof that they can notionally ‘cover' the club financially for a few years at least?

Won't that protect us from purely avaricious intent even if it's not any guarantee they will make us competitive?

Christine Foster
3 Posted 23/03/2024 at 00:21:04
Deep breath... I wonder what the conditions are and why it's taken so long? Very mixed feelings reading this, but like everything to do with Everton, there appears to be strings attached...

At least the waiting is over, it's a step forward from the past but the future is uncertain. I look forward to 777 Partners telling us what and how we are going to get out of the mess we are left in.

Pete Clarke
4 Posted 23/03/2024 at 00:47:36
The Premier League have sussed out that the best way to get rid of Everton forever is to approve this deal.

Moshiri just wants out and doesn't care anymore. If he ever did really care, that is!

Bill Gall
5 Posted 23/03/2024 at 01:21:05
Well, the uncertainty is over… now the uncertainty stage 2 takes over. What is it? Out of the fat, into the fire.

You never know, we may get a surprise — that is until the Premier League spring another nasty surprise.

Jack Convery
6 Posted 23/03/2024 at 02:19:54
Please – when will all this shit be over?

Bad bad vibes about this happening. They don't have a pot to piss in and need us to get even more loans to cover the debts they've stacked up already, surely.

Derek Knox
7 Posted 23/03/2024 at 03:19:06
I can concur with most who also have trepidation that this is not a good move for us at all. Their track record, if you can call it that, doesn't exactly inspire confidence.

Surely there is some savvy Investor out there who sees bargain price (in today's crazy world) a Premier League club with history (though not recent), new stadium, as loyal fans as you will ever find, and a good location.

Steve Brown
8 Posted 23/03/2024 at 03:29:29
Mixed feelings like everyone else, but someone has to buy us. Moshiri will not invest another penny in the club.

My view is that 777 Partners will have a short-term horizon for ownership – 3-5 years. Restructure the debt, finish the stadium, improve the commercial performance of the club, then sell it.

They stole an advantage as they are probably the investors who committed to a larger return to Moshiri for his huge investment in the club.

Laurie Hartley
9 Posted 23/03/2024 at 05:14:43
If there are conditions, then this is not a done deal until 777 Partners agree to said conditions. They haven't up till now or surely they would have made a statement.

My cynical view – the Premier League have found another way to drag things out without appearing to the rest of the football world that they are starving us to death.

Danny O’Neill
10 Posted 23/03/2024 at 06:10:14
I too have mixed feelings on this.

As taught on my leadership courses, just make a decision. Then we know where we stand.

Mike Hayes
11 Posted 23/03/2024 at 06:28:30
The beginning of the end…
Derek Thomas
12 Posted 23/03/2024 at 06:43:10
Is it now a race to get the new stadium finished and sell us on for what ought to be a decent profit before their own house of cards crumbles?
Paul Smith
13 Posted 23/03/2024 at 06:45:40
The Esk reckons it's a polite dismissal. If they haven't come up with the conditions by now then they won't any time soon.

More confused than ever.

Iain Crawford
14 Posted 23/03/2024 at 06:48:43
Desperately disappointed. But what choice do we have? None whatsoever. So what does a lifelong crazy Everton fan do? I can't walk away even though I have grave concerns.

In at least one of their many court cases, they are accused of saying one thing during a takeover, and then doing something very different, but crucially, they argue, contractually allowable.

In light of this, I think that 777 Partners should be solely and entirely judged by their actions. Do not, under any circumstances, believe anything or take anything they say at face value.

I suppose the only way to gauge what's happening is through total transparency of our finances. There has to be some sort of built in protection and safeguards for EFC, to guard it from insolvency.

The club, its fans and the Everton community must be protected from potential complex financial abuse.

James Flynn
15 Posted 23/03/2024 at 06:50:33
"currently minded". . . . . . . . . . . . "subject to conditions"

Could also mean, "Last chance. We're not gonna ask again."

Peter Moore
16 Posted 23/03/2024 at 06:59:17
The New Stadium is sensational. The previous absence of one was cited as offputting to investors.

A proper British Billionaire, savvy as well, without alleged drug smuggling contacts, would be much preferred. John Bloor, owner of Triumph Motorbikes, a great businessman of great acumen and savvy. Older than many, wiser than many. Younger than the US President.

Someone like Mr Bloor, or the Radcliffe fella, who chose a stake in Man Utd, after failing to buy Chelsea, rather than rescuing us.

Not sure why we are looking like it's out of the frying pan, into the fire, due to the very opaque, shady, nature of this acquirer, but not saviour, of football clubs.

Hoping for much, much better, but needed urgently.
What an incongruent state. The new stadium being the beacon of magnificence, yet the ownership debacle quite the mess. Can a Pheonix rise from the ashes?

Sam Hoare
17 Posted 23/03/2024 at 07:10:35
If this happens, then I'm not quite so down on it as others. Clearly 777 Partners are not the dream owners but they will be a step up on Moshiri in terms of aptitude and competence.

If they are approved, it can only be because they will have given proof of funds and we will be their flagship sporting enterprise.

They will get the stadium finished, turn their loans into equity and restructure our debt. These moves alone would hugely improve our financial situation over the next 12 months. I don't expect them to pump in loads of their money into transfers but at Genoa they have bought players cleverly and re-invested most of the sales.

Maybe I'm missing something and am no financial analyst but most owners would seem a step up from the current situation.

Duncan McDine
18 Posted 23/03/2024 at 07:43:39
The Premier League want absolute reassurance that 777 Partners will finish Everton for good before they give the green light.

They see us as a turd that won't flush.

Paul Birmingham
19 Posted 23/03/2024 at 07:51:37
Sam, good perspective.

For me, it's a double-edged sword, Everton still stuck in shit creek but, as you say, if the ownership issue gets resolved, you'd like to hope for some real leadership and strategy.

This could be a Hitchcock emerging. Dammed if we do or don't.

But along with the saga of Masters and his cronies, the unbalanced and unfair standards he is using to dish out penalties on Everton, leaving Man City with 15 years of swerves and fiddles, untouched, rattles me and makes me, very angry.

Morning, noon and night, it's not good for the soul. But longing for better days.

John Keating
20 Posted 23/03/2024 at 07:59:41
I think, especially this season, it has proved that listening to all these various media experts and outlets is a complete waste of time. “A usually reliable source” has heard…..

From speculation regarding our initial points deduction to our appeal reduction. From Forest's points deduction to Leicester's. If hundreds guess then the chances that someone will be correct is a given. They will then claim the high ground.

Like potential player signings, it's pointless worrying until it's officially announced and Wander and Pasco are holding the shirt up at Goodison.

Mark Ryan
21 Posted 23/03/2024 at 08:29:54
I'm always the optimist. I hope to get Eddie Howe next season, I hope for no more points deductions, and I hope 777 Partners get binned off.
Danny Baily
22 Posted 23/03/2024 at 08:37:19
This is the best outcome. Avoid administration and stay up. Repeat. That's our lot, and that's if we're lucky.
Jerome Shields
23 Posted 23/03/2024 at 08:46:39
If true, it is possibly the only way that the Premier League could approve the deal given the parties involved. In my opinion, it has set further takeover conditions on what has already been agreed between Moshiri and 777 Partners, with the additional unknown outcome of the second commission still to enter the takeover negotiations.

777 Partners will be trying in the negotiations to get Moshiri to accommodate these additional conditions to some extent. Moshiri has already agreed to the 777 Partners takeover, subject to the Premier League commission outcome and also subject to Premier League takeover approval, which now includes conditions.

All the team can do is avoid relegation, because relegation could trigger EFL PSR rules. Such sanctions arising, if any, will become clearer as a result of the Leicester case.

It's a mess no matter what way you look at it, and both Moshiri and 777 Partners are very much dependent on their backers of funds from any source they have. IMO Russian money and no one is going to query it, even under current perceptions of such sources. According to evidence provided by Danny, Russian sanctions are already hit-and-miss anyway.

Everton are probably in the situation of being dependent on, if you can't ride two horses at once, you are not in the circus.

Charles Ward
24 Posted 23/03/2024 at 08:59:14
The Premier League statement is, as Paul the Esk used to say about our transfer dealings “the usual caveats apply”.

Basically the last chance for 777 Partners to provide the required financial information.

If they do come in, I hope it's not a leveraged buyout and that they appoint hard-nosed professional CEO and finance director and have none of the sentimental rubbish that the previous regime used to trot out.

And Peter Moore, whilst the Manchester Reds may be delighted with Ratcliffe, I don't think a strike-breaker like him would be welcome here.

Phillip Warrington
25 Posted 23/03/2024 at 09:01:31
It's one of those "dammed if you do, dammed if you don't". We are so much in debt to them as it is, the last thing we would need is for the sale not to go through.

I would really like to know is there anybody running the club, other than to pay wages?

Anybody seeking new investments or scouting new players, we are probably one of the few professional run clubs that don't communicate with its fans.

Geoff Lambert
26 Posted 23/03/2024 at 09:14:39
Steve #8,

Yes, they are in this to make money, as it stands we are broke and debt-ridden; they must think that they can turn this round and make us a saleable proposition.

Even if a multi-billionaire bought us, we would still have our hands tied as to the ability to spend.

Roll on the Super League – get rid of the Sky Six and carry on with some real football clubs.

Kevin Edward
27 Posted 23/03/2024 at 09:45:00
With the new government regulator stalking, then I'm unsure if the Premier League will be in a hurry to sign off on 777 Partners.

As mentioned already, the ‘conditions' have been hanging around since last year, so the ball looks to be sitting with 777 Partners, but there must be a few things in due diligence that look too fishy, even for the Premier League.

Imagine the Premier League signing off, and then 777 Partners going under within a year or two. Someone would then be taking the Premier League to court (joining the queue behind all the others).

Tony Abrahams
28 Posted 23/03/2024 at 10:21:29
If it is taking so long to get approval, then it is obviously apparent that something isn't quite right.

I hope what I've been saying about that other interested party waiting in the wings rings true, John K@20, but not so I can claim any high ground, but more so that I will have been wrong about constantly saying that the Kenwright era was always going to end in tears.

This is imo a very worrying situation. I'm against multi-ownership, because it's not really what football was ever about, and even though I'm aware life has changed, then surely you should only be allowed to be a multi-owner if you have straightened out all the other football clubs that you own?

Maybe I'm guessing, but 777 Partners do seem to be like William Kenwright, but on a much bigger scale, in the sense that a lot of their operations appear to involve robbing Peter to pay Paul? We will see.

James Hughes
29 Posted 23/03/2024 at 10:28:42
Tony A, I sincerely hope you are right as I have a bad feeling about 777 Partners.

Asset stripping with the new stadium the main asset, sold off and rented back to us at great cost.

Charles Ward
30 Posted 23/03/2024 at 10:29:08
Tony, at least Kenwright's theatrical extravaganza seemed to pass off without financial opprobrium.

I wonder did he ever stage a version of ‘The Producers' or is that just the way he ran this football club?

Ian Pilkington
31 Posted 23/03/2024 at 10:37:34
If true, this is the worst possible news during another dreadful season.

The wretched Premier League has allowed this fiasco to drag on for months despite the fact that it was blatantly obvious from Day One that 777 Partners could never be considered as being suitable owners.

There can be no optimism whatsoever for the future if this wretched company is permitted to take control.

Raymond Fox
32 Posted 23/03/2024 at 10:41:20
If the sale does go through, I think they will flip us before too long and get a quick profit.

Not our dream owners obviously but we did need new owners; we will have to hope for the best and suck and see as usual.

Brian Harrison
33 Posted 23/03/2024 at 10:44:46
This has been going on for months and apparently 777 Partners had a face-to-face meeting with the Premier League a few weeks back. So why weren't the so-called certain conditions to the takeover sorted at that meeting?

So until these conditions are met, the Premier League will not give 777 consent to take over. Which begs the question: how long will 777 Partners keep funding the day-to-day running of the club, as they are well aware of what these conditions are, so either supply the information, or declare you have no further interest in buying EFC.

Tony Abrahams
34 Posted 23/03/2024 at 10:54:31
My biggest hope is that, when I read Paul The Esk saying it's about time Moshiri called time on 777, is that because he will obviously now be tied-in with them, then he's either waiting for the Premier eague to say No, or 777 to get tired of continuing to fund Everton Football Club.

Maybe if Moshiri was to call time on 777 himself, then it would cost him a lot more money?

Stephen Meighan
35 Posted 23/03/2024 at 10:58:08

We did beat Liverpool at Anfield in the Covid season at Anfield. All behind closed doors but a win is a win. but I do get your drift.

Tony Abrahams
36 Posted 23/03/2024 at 11:00:28
Fuckinhell Clive, I forgot about that mate, but I’m still torn over saying what I wrote in the post above because I would obviously love to see his mad eyes bulging with fury, at Goodison Pk, one month tomorrow night.
Kevin Molloy
37 Posted 23/03/2024 at 11:03:22
Remember when we thought a new ground would take us to the next level?

We are in quicksand now up to the upper lip.

Kevin Molloy
38 Posted 23/03/2024 at 11:19:53
So true, Tony.

As Jesus was so fond of saying, "What would Everton do?"

Alan J Thompson
39 Posted 23/03/2024 at 11:22:21
Why would you agree to conditions which have not yet been spelled out or could be subject to change?
Tony Abrahams
40 Posted 23/03/2024 at 11:29:07
@UpperGwladysBlue on Twitter:

"Predicted statement;

777 partners welcomes the PL's decision to award us us conditional approvall. After a period of reflection and discussions with Farhad Moshiri, we have decided to step aside & allow (insert new buyers) to proceed with the purchase of Mr Moshiri's shares."

Everton FC = Depressing unadulterated soap opera. I've had a headache that has definitely been brought on by Everton, since Wednesday night, even though I sometimes get the feeling I don't care as much anymore!

Clive Rogers
41 Posted 23/03/2024 at 11:41:36
I have to say, this is what happens when you turn down good owners on two occasions as chairman Bill did because they didn't suit his personal aspirations.

I have zero faith that this lot will be good for the club. I just don't believe they have the knowledge or the cash to bring back success. I sincerely hope they prove me wrong if they do take over, which is beginning to look likely.

Geoff Williams
42 Posted 23/03/2024 at 11:57:58
This takeover could prove disastrous for the club. Moshiri's reign has gone from bad to worse to 'he couldn't give a damn'.
Dave Abrahams
44 Posted 23/03/2024 at 12:09:24
Tony (40), Sorry I never saw your post @40.

By the way, nobody asked Jesus to build a stadium on water!!

Peter Hodgson
45 Posted 23/03/2024 at 12:50:16
The can has been kicked a bit further down the road with this pointless, unconfirmed, news. What are they all playing at? What is Moshiri playing at more to the point?? Disgusting.

We are no further forward than we were last September!

Barry Rathbone
46 Posted 23/03/2024 at 13:25:36
Kevin 39

There were quite a few of us who looked at what funding new stadia had done to other clubs and thought the complete opposite.

Didn't expect the curse to kick in as quick as the first diggers going through the gate, though, or to be so fatal. Not that it matters boasting about having a place on the waterfront seems more important.

I've never got it.

Phil Friedman
47 Posted 23/03/2024 at 14:03:44
If we are in the Championship next season (quite likely, I fear), who approves the sale then? The EFL?
Neil Lawson
48 Posted 23/03/2024 at 14:23:29
Peter (50).

Yes. The more that you read around the subject, the more it is clear that there really isn't any progress and it's just a news story being spun around a comment concerning prior conditions. Nobody has a clue what these conditions are and they would have been required to be fulfilled from the outset (or early on) of the process.

In simple terms, we are not ready to approve or decline the application but we don't yet have the balls to make a decision. Some may even say that they want to wait until our next penalty is announced so, if it's not to their liking and if necessary, the Premier League can play its sub and truly send us down in administration.

Soren Moyer
49 Posted 23/03/2024 at 15:05:31
Moshiri, the Premier League and 777 Partners can all piss off.

We need a proper owner.

Tony Abrahams
50 Posted 23/03/2024 at 15:08:41
I offered you a seat for a game at Goodison, Barry R, and if you would have taken me up on that offer, then you would have seen with your own eyes that Goodison Park is now just a relic of a bygone age.

We are in a very bad position now, but whoever gets Everton, are getting a very good deal, imo. Maybe I'm wrong, but for around £1.1B, someone will be purchasing a very well-supported club, with a fantastic new stadium, which is about to generate a lot more money, every single match day.

I believe one of the main reasons why we have fallen so far behind is because of a charlatan who told us he had the money for a new stadium ring-fenced all those years ago.

Anfield has been regenerated and made bigger, Old Trafford, has been seating 75,000 for years. Newcastle's ground has been regenerated and made a lot bigger, whilst Man City, Arsenal, Spurs and West Ham, have already moved into much bigger new stadiums, and are all reaping the benefits of having the matchday revenues that this brings.

Chelsea have also been talking about building a new stadium for years. The breakaway six know how important building up their matchday revenue has become, and this is only going to become even more important (if you want to be successful) once these new P&S rules begin.

Peter Hodgson
51 Posted 23/03/2024 at 15:20:17
Yes Neil.

Quite correct. The week before last I think, we had 777 Partners saying after their meeting with the Premier League that they expected a decision 'early next week'. The Premier League as usual said nothing.

Surprise, surprise – no announcement, which wasn't a surprise as it followed a series of press releases from 777 Partneres saying the same thing with exactly the same outcome which means only one thing. That is, whatever 777 Partners say means nothing at all so ignore it. A good or discouraging sign for the future?

Moshiri must be desperate for this sale. It sounds as though someone is behind him saying that it is so important that he should treat it as though his life depended on it.

Whatever is the case, the Premier League has a different opinion. They don't give a monkey's. They haven't finished their stitch-up yet. Only then are we likely to get them to say anything. Too late being the cry.

Ed Prytherch
52 Posted 23/03/2024 at 15:52:57

Whether or not the buyer gets a very good deal depends upon what he pays for the club and stadium. As others have posted previously, if the club debts exceed the saleable assets, and if it is currently running at a loss, then the value of the club + stadium is less than the cost of building the stadium.

And the value of the stadium could be less than the construction costs if the revenue generated by the stadium is less than the interest on the construction loans.

Whoever buys the club will have a lot of debt to settle. It is possible that Moshiri will collect very little from the sale.

Jay Harris
53 Posted 23/03/2024 at 16:12:24
Basket case of a club with Level B manager and Level B/C players with £0.8B debts seeking multi-billionaire investor. Fantastic prospects to finish mid-table in the league subject to further £0.3B investment in new playing staff.

All interested parties must give generous donation to Russian oligarch.

Is it any wonder that 777 are the only deal in town? IMO they must have struck a deal with Usmanov and I suspect there is the prospect of washing money through the club.

I also would like to know why Rights & Media Funding blocked MSP and not 777 Partners?

Having said all that, we desperately need some leadership and direction at the highest level so, as Sam #17 said, they will be better than a useless part-time Monaco resident.

Watch this space.

Oliver Molloy
54 Posted 23/03/2024 at 16:20:44
I wonder where we would be if the war had not happened.
Joe McMahon
55 Posted 23/03/2024 at 16:25:06
I'm stunned it's come to this. How, I just don't know.

"One very famous football club said to me two or three days ago 'whenever we have a problem we say 'what would the Everton board do because they always get it right?'"

I assume the Bill (he's one of us) clappers must be thrilled.

Mike Gaynes
56 Posted 23/03/2024 at 16:31:38
Oliver, 44 million Ukrainians are wondering the same thing.
Oliver Molloy
57 Posted 23/03/2024 at 16:35:44
Obviously Mike, but you know what I mean.
Barry Rathbone
58 Posted 23/03/2024 at 16:40:14
Tony @55,

I pray you're right but my problem is no precedent exists for the transformation often talked about when others have gone down financing a new stadium.

With the exception of Spurs, who seem no further forward, they all hit the skids, dropping places in the league. For us, that means relegation.

Danny O’Neill
59 Posted 23/03/2024 at 16:58:02
I'm with you, Tony.

We are building something special. We just have to get through today before we get to tomorrow.

In terms of development, I would add a few to your list: Tottenham, Aston Villa and Brentford.

Soon we will be added to that list. Long overdue but it's coming.

Russell Smith
60 Posted 23/03/2024 at 18:57:20
If by some miracle we get enough points to be 10 points above the relegation places, then going into administration could be the best outcome for the future.

There will be plenty trying to buy us for the cost of the two loans raised against the stadium, finishing and then keeping the stadium, with Moshiri and 777 Partners whistling for their monies, and the team building starting from scratch and this time working within P and S rules.

£500 million would cover everything and would be a great deal for a savvy operator.

Jerome Shields
61 Posted 24/03/2024 at 07:31:45
I just wonder why Moshiri is dealing with 777 Partners? Are there no other takers? Moshiri has been trying to source funding for years. If there are other takers, why did he agree so quickly to the 777 Partners deal so quickly after the MSP deal fell through?

The Premier League according to reports have put conditions in place regarding what 777 Partners need to do regarding conversion of loans to equity, providing working capital, and satisfying the Rights & Media Funding loan. A time limit has been set for these regarding Premier League approval. There may be other conditions.

All these conditions are the minimum requirements for a takeover of Everton so that the Club can continue as a going concern. On top of that, Moshiri has to be paid for his remaining shares and the results of the second Commission have to be factored in.

Moshiri's shares in Everton are worthless in such a scenario. Moshiri's reign has been characterised by the regulators setting parameters to prevent his mismanagement of the club from doing further damage to the club's finances.

The only solution is administration, taking the club out of Moshiri's hands and finding a new owner.

Michael Kenrick
62 Posted 24/03/2024 at 09:09:17
I missed this earlier, that The Mail has put a number on what 777 Partners must prove now to the Premier League:

Everton's prospective owners 777 Partners are told by the Premier League they must show evidence of access to more than £400m before their takeover can be approved – with top-flight 'minded to approve' offer

But nothing else of substance in this very short piece – I think the headline actually covers more column inches!

ps: Just realised in connection with other ongoing threads, £400M is the exact sum Moshiri owes Usmanov — according to The Guardian. And yet there's absolutely no link between 777 and the big Uzbecki fella? The plot thickens...

Adrian Evans
63 Posted 24/03/2024 at 09:29:50
The conditions are set, the figures are out there about our debt.

So, if 777 Partners can turn their loan (£180M plus April & May, £40M, so £220M) into equity, great. If they can pay off the two loans, certainly one £150M, fine. Thats £400-£500M with working capital.

So where does Moshiri get his money from? Owning the stadium and renting it back to us, Everton??? Then taking £50 million a year??

Does anyone think 777 Partners have the funds – not more loans but assets to make the deal happen? Relegation means we lose £60M, £80M, £100M a year as well. How do we get back to the Promised Land, with little money, only debt???

Administration would wipe out debt. A buyer with a minimum of £1B to operate buy and operate us with. I hope we can stay up but, if not, a clean sheet, a new stadium, a decent team gets us back up… or years of a being a mess, languishing in the Championship.

777's Hertha Berlin irony: Jonjoe Kenny plays for them!

Laurie Hartley
64 Posted 24/03/2024 at 10:32:23
Michael K - did you take my post down? The one that Tony answered at 61?
Michael Kenrick
65 Posted 24/03/2024 at 11:09:44
Apologies, Laurie.

Since both posts referred directly to the Josimar article, I moved them to the Conditional access thread.

Denis Richardson
66 Posted 24/03/2024 at 12:04:14
This saga will role on until our Premier League status is confirmed end of May. 777 Partners need sign-off from the Premier League but, if memory serves, their takeover is also contingent on us not getting relegated.

IMO if we go down we go into administration – which itself will likely bring out a whole load more interested parties in buying us on the cheap.

I have no idea if 777 Partners will be approved. It's been dragging on for months but the Premier League hasn't said a definite No yet, so they still have a chance. The fact it's taken this long obviously means there are some issues.

Right now, it's all a bit irrelevant as we wait on our second points deduction and if we can actually achieve another league win this season. We've yet to collect 3 points this year….

Dave Williams
67 Posted 24/03/2024 at 12:16:31
If the Russian was in charge at interviews for new managers, then his fingerprints must be all over this? In many ways, let's hope so as he can withstand the losses much better than Farhad.

The Premier League has effectively challenged 777 Partners to prove access to sufficient funds to keep creditors happy and run the club.

Based on the reports we see on an almost daily basis, there does not appear to be any chance of this happening.

Jason Hewly
68 Posted 24/03/2024 at 18:57:09
The Premier League have published the conditions.

Approval is granted as long as you meet one of the following conditions:

1. Pretend that you're not a state.
2. Kidnap and chop up a journalist.
3. Load the club with £1B of debt.
4. Quietly buy up some surrounding terrace houses and encourage crime to drive down prices.
5. Encourage gambling addiction.
6. Make secret payments to staff from offshore accounts.
7. Burn down a factory on land you want.
8. Buy and mothball young players to hamper their careers.
9. Make political donations in return for honours.
10. Sack staff when furlough was available.
11. Cultivate referees by inviting them on pre-season tours, all expenses paid.
12. Encourage fans to send death threats to officials.
13. Cover up the rape of a woman in the toilets at a Christmas party.
14. Don't ever ask for a penalty at Mordor.

Tony Abrahams
69 Posted 24/03/2024 at 19:08:21
Number four is an absolute classic, Jason, with the irony being lost on the thousands of Liverpudlians who sing "Fuck the Tories"!!

I had one of my horrible Liverpool supporting mates going beetroot before when I told him I've got a 30-foot flag getting made for the derby.

A 30 foot Steau Bukarest flag, with the slogan "Heysel is a hate crime" — but it's okay for hypocritical Liverpool fans to fly this flag on the kop.

They hate us because they can't fool us. Fuck the Tories🤦‍♂️

Charles Ward
70 Posted 24/03/2024 at 19:24:10
Doesn’t number 5 cover our current and previous sponsors though?

Best deleting that own goal.

Mark Murphy
71 Posted 24/03/2024 at 19:37:05

I got trolled on Twatter for pointing out that flag in reply to a Kopite calling us horrible, so much so that I finally saw reason and came off Twatter.

Why haven't the press ever brought up that flag? Is there a media contact other than Twatter that we could send that image to and ask “How about this, then?” Surely someone in the media would be interested enough to ask the question?

Tony Abrahams
72 Posted 24/03/2024 at 19:58:37
I'm convinced that they have people working for the club, trawling the internet, trying to eradicate as much bad news from their past, as they possibly can, Mark.

They have this self-superiority that can only be taken away by one thing, and it's only when we achieve this, do you begin to see them lose their mask.

Joe Royle knew this, but the best example was given by the 12-year-old ball boy (surely he was just being a cheeky scouse kid, rather than someone who understood the mechanisms of our neighbours?) who got right under Klopp's skin after a goalless Goodison derby a few years ago.

Don't give them an inch, and start by refusing to tolerate the bitter blue shout, from some of the bitterest people on the planet. Even the Liverpool women's manager has just said, he told his players that it was likely to be Everton's cup final, despite saying it didn't feel like a derby, in the same interview!

Laurie Hartley
73 Posted 24/03/2024 at 20:52:46
No worries Michael K - I sort of figured that out.
Paul Kossoff
74 Posted 24/03/2024 at 00:05:04
Here is a quote from 23 November 2023 from journalist Mike Ozanian from Forbes, posted on X:

"I asked an owner of one of the most valuable soccer teams in the world (didn't say who) about this deal and he said, "I heard the money coming from Columbia drug money." Premier League owners 'to voice concerns' over Everton's sale to 777 Partners. Mike Ozanian.


Seems we can't or couldn't go any lower with our supposed associates.

Charles Ward
75 Posted 25/03/2024 at 10:22:31

I know you've given a source but that does seem far-fetched.

Paul Kossoff
76 Posted 25/03/2024 at 15:45:23
Charles @75,

I wonder if the owner who said it was a Premier League owner, Liverpool maybe. They do have an axe to grind with us wanting them out the Premier League, after them wanting to leave anyway, height of hypocrisy.

Someone's got it in for us.

Charles Ward
77 Posted 25/03/2024 at 16:24:14
Paul, you're really stretching now.
Clive Rogers
78 Posted 27/03/2024 at 09:45:02
There is an article in todays Daily Mail that absolutely slates 777 Partners.
Michael Kenrick
79 Posted 27/03/2024 at 10:45:26
Thanks for that, Clive. Is this it, by Ian Herbert:

A chink of light for Everton after years of scandalous decline... and dismal 777's record suggests they should be nowhere near

What does it say? The link comes up but the lovely Daily Mail is now asking me to subscribe… which I ain't gonna do.

Brian Harrison
80 Posted 27/03/2024 at 11:18:19
Another day and yet another story about 777 Partners and the majority of the stories question their ability in being able to raise the revenue or at least show the Premier League they have the financial backing to acquire and run Everton Football Club.

So, given all the negative stories, why does Moshiri still think they are the right people to take over? I did think that Usmanov may have some tenuous link to 777 Partners but, if none of the investigative journalists have found a link between him and 777Partners, maybe there isn't a link.

Seeing the main funders of 777 Partners, A-CAP are stopping loaning any more money to them, where do they hope to access the money needed for the takeover to go ahead?

The problem for the club is if the current owner isn't willing to see if there are any other potential buyers, and 777 Partners fail to get approval from the Premier League, who will keep funding the day-to-day expenditure if our current owner won't?

Eric Myles
81 Posted 28/03/2024 at 04:47:25
"We discovered at the weekend that Moshiri … is demanding to walk away with at least £64m, rising to a possible £130m, from American investment company 777.

The sum is far higher than anyone else is prepared to pay Moshiri, which explains why all credible buyers have walked away."

"There are other potential buyers in the wings – including a US investor, with the funds, management experience and a track record with US sports franchises and European football."

Michael, better you don't read the article it's full of contradictions like the above. Relies on your mate Paul Quinn for financial commentary and continues to peddle the lie about HeadlockGate.

Michael Kenrick
82 Posted 28/03/2024 at 08:21:21
Thanks, Eric.

I don't recall seeing Moshiri's bottom line before. So difficult for me to comprehend that he could sink getting on for £1B into the club… and yet he would agree to walk away with only £64M — but maybe he's the ultimate Evertonian altruist, leaving us with the Magnificent Moshiri Memorial Stadium.

Was it really just a massive money-laundering scheme?

Charles Ward
83 Posted 28/03/2024 at 09:09:23
Micheal, appropriately the Long Good Friday dealing with very dubious schemes to regenerate the London Docks is being shown on one of the streaming platforms.

In our version, Moshiri should be the victim in the one-way taxi ride at the end.

Mark Murphy
84 Posted 28/03/2024 at 09:25:59
Someone on TPF, who is obviously not a fan (he calls Paul the “self-appointed Guru”) is saying The Esk has said we should choose administration over 777 Partners?

Is this true and, if so, would it actually be preferable? Or is it just Paul's opinion?

Eric Myles
85 Posted 29/03/2024 at 03:40:35
Mark #84, if we go into administration then someone gets to buy the Club on the cheap as we will certainly be in the Championship.

777 Partners would most likely be one of the potential purchasers after administration also, so who's to say they wouldn't be the successful bidder anyway? It would all be up to the administrator to decide who gives the best deal for the creditors.

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