29/03/2024 32comments  |  Jump to last

Farhad Moshiri has responded to the letter sent to him last week by Fan Advisory Board chair, Dave Kelly, acknowledging the frustrating delay in the Premier League's approval process for 777 Partners' takeover but insisting they remain the right buyers.

Kelly wrote to all three of Moshiri, 777 Partner and the Premier League and has, thus far, received replies from two of the parties, with the FAB's letter to the League held up due to technical issues and a response expected soon.

777's co-founder and Managing Partner, Josh Wander, sent a brief reply stressing that, "It is fair to say that when you spoke with Don [Dransfield] last year, none of us thought that this process would take over 6 months, as opposed to 12-14 weeks, as was our expectation.

"I look forward to answering your questions to the extent we are able, but I want to manage your expectations that we can't do so prior to the transaction concluding, in line with the advice we have received with respect to the ongoing regulatory processes."

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The Club's Majority Shareholder, meanwhile, wrote:

“With respect to 777, my view has not changed from what I said when we announced the proposed transaction last year. I remain confident they are the right partners to take our great Club forward, bringing all the benefits of being an experienced and well-connected investor, and their multi-club investment model. 

“Securing the complete financing of the new stadium remains a priority and I can assure you from personal experience that 777 have met every ask that we have made of them to date. 

“Now I completely understand the frustration that the Premier League approval process has taken longer than was originally expected. It is not ideal, but we must respect the Premier League's process and hope that it is something that we must live with for only a little longer. 

“We fully respect all our regulatory bodies, work closely and constructively with them, and please bear with us whilst we are in the home straight. 

“I can also assure you that as soon as there is something definitive to say that we will share with you immediately.”

 

Reader Comments (32)

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Dave Williams
1 Posted 29/03/2024 at 20:16:34
Well they would say that wouldn’t they!!
Barry Rathbone
2 Posted 29/03/2024 at 20:27:22
"but we must respect the Premier League's process"

Is he taking the piss ?

He's either got more front than Blackpool or throws words in the air unaware of how they'll land. Given his previous musings I'm going with the latter.

Tony Abrahams
3 Posted 29/03/2024 at 20:43:55
777 Partners might have met every ask with regards to helping Moshiri to keep funding Everton but I doubt very much they will be able to meet the ask of the Premier League.

The amount of borrowing is staggering and there is now another article in The Guardian which explains that, although Moshiri gave assurances to the league that he would continue to fund Everton, all that he has done since is fund Everton with outside loans.

He's cut from the same cloth as the man who sold him Everton, although it was easier for the other fella to kid thousands because at least he was a proper Evertonian!!!

Paul Birmingham
4 Posted 29/03/2024 at 20:51:10
Moshiri must have been on the sauce, the bongle, or both. No foundation in what he has said based on the 777 Partners takeover saga so far. If this is progress, then it will be an eternity for success.

The greatest management double act have brought Everton on to its knees. But tomorrow let's hope for a welcome victory.

Jerome Shields
5 Posted 29/03/2024 at 23:38:41
Moshiri is not the decision-maker, Tony.

777 Partners will come up with the Premier League's requirements. Maybe not exactly as the Premier League have laid out, but the Premier League has given approval and the conditions can be fulfilled in time.

777 Partners have a seat at both sides of the table. The problems begin after the takeover happens.

Danny O’Neill
6 Posted 29/03/2024 at 23:52:22
I guess the positive is that we've had some form of communication.

Just come to a decision so we know where we stand.

Bournemouth tomorrow is the more immediate concern.

Mike Gaynes
7 Posted 30/03/2024 at 00:03:38
I'm amazed Moshiri even answered.

Tony, can you post a link to the Guardian article?

Danny O’Neill
8 Posted 30/03/2024 at 00:17:57
Kevin Molloy
9 Posted 30/03/2024 at 00:41:25
Moshiri ended on a positive note by writing at the foot of the letter in his own hand:

'As long as I get my money, I couldn't give a fuck.'
Laurie Hartley
10 Posted 30/03/2024 at 01:27:19
I am going to take a positive out of this which is that 777 Partners are still pumping money in — which means Laing O'Rourke are getting paid and progressing with the stadium.
Eric Myles
11 Posted 30/03/2024 at 02:25:06
Yes, Laurie #10, the contractor must know our precarious financial position.

So the fact that they are progressing the works means they're getting paid and have assurances that they will continue to receive payments.

Laurie Hartley
12 Posted 30/03/2024 at 06:45:31
Eric,

I am glad you agreed because we need as much good news as we can get at the moment.

Tony Abrahams
13 Posted 30/03/2024 at 08:02:16
I'm absolutely terrified of that happening, Jerome, and think that 777 Partners being allowed to add Everton to their portfolio of clubs will be a disaster for our club.

They have had seven months already and things seem to have got a lot worse financially for them over this period of time but the fact that they are still here is worrying.

I am sure there must be a massive game of chess getting played behind the scenes and 777 Partners are probably going to be well looked after for finding Moshiri enough money to keep Everton operational because I can't see one positive thing about them being the new owners of our club.

Bobby Mallon
14 Posted 30/03/2024 at 08:37:36
I am with Tony. Moshiri can’t be that stupid as to not see that 777 are not a good fit. Our club is drowning in debt drowning
Tony Abrahams
15 Posted 30/03/2024 at 08:57:43
As much as I would love to see Liverpool FC, fall on hard times Bobby, the day David Moores, who was allegedly a lifelong Liverpudlian, sold their club to Hicks & Gillette, for a “ few dollars more” told me everything about 99.99% of what these money people are like.

There is only one god, and I’m sure Moshiri is a lot more interested in how much money he his going to be receiving, rather than genuinely caring about Everton’s future, especially after his mismanagement of the club, has probably cost him a fortune

Charles Ward
16 Posted 30/03/2024 at 09:02:47
Moshiri has form for uttering unmitigated drivel.

Bad enough when he was using Jim White as his mouthpiece but he excelled himself when he said that Lukaku wanted to leave as his mother was on a pilgrimage to Africa and a voodoo had told him to leave.

For me that racist, colonialist language made me realised that Kenwright had managed to get into bed with someone even more weird than him.

The clock was ticking then and the alarm has gone off now.

Charles Ward
17 Posted 30/03/2024 at 09:07:07
Tony this is what my Red mates can’t understand.

David Moores, not the brightest tool in the family, a life long fan sold the to two obvious cowboys, nearly pushing the club into administration and leading him into exile.

And, despite this egregious example, their next door neighbours do exactly the same, albeit with a new stadium on the horizon.

What’s that quote about learning the lessons of history?

Alan J Thompson
18 Posted 30/03/2024 at 09:10:05
Any chance Mr Moshiri might just show some balls and sell to 777 and then let the Premier League do their worst as he'll have been paid up and off. What would they do, refer it to an Independent Commission?
Christine Foster
19 Posted 30/03/2024 at 09:35:24
I think the term they use here is that Moshiri played that with a straight bat.. he managed to support 777, the PL and asked fans for patience and of course to trust him.
Unfortunately I think he is in so deep he has no other choice than to stick with them unless its thrown out by the PL, at which point he throws his hands up and declares himself a victim of the PL.

Realistically its confusing as to why he is even still in bed with these guys given the awful bad press and poor financial outlook they have, which makes me wonder what it is we are missing, because even Moshiri, for all his dubious decision making stuff ups, must realise that even for him, this is a poor outcome. He has already taken a bath, but whats coming, even if 777 goes through, is a personal financial disaster. Every loan he gets reduces the amount he gets back into his account, there cannot be much left at this rate.. which is the point so far as 777 are concerned, they get back or pay far less than expected but can then refinance to both finish the stadium and long term debt. There has to be someone in the background ready to back them because their current backers have already pulled out.. so who is it or why is Moshiri hanging in there when allegedly there are other players in the wing ( they can't be much worse than 777 can they?)
Feels like a front operation for someone else.. really does.. come on Josimar do a bit of digging!

Kevin Edward
20 Posted 30/03/2024 at 09:55:44
All credit to the FAB for asking, but not much comfort for fans in either of the responses. I can't wait to see what the Premier League have to say, will probably have a smiley face after the signature block.

The ‘conditions' are a mystery but 777 keep pumping in the cash.

By now (in April) you would think that the league we will be playing in next season is key to any ‘investor' due to the cash flows.

So I wonder if anything will happen until that's clear, and it's not at the moment as we bounce up and down the table due to lunatic points deductions and appeals.

Roll on 24 May, I just want it all to be over.

Tony Abrahams
21 Posted 30/03/2024 at 10:15:00
I wonder if the Premier League are waiting until Monday 1 April to let us know that we are doomed?

I wish we had a Don Corleone figure at the club because who wants to wait for bad news!

Charles Ward
22 Posted 30/03/2024 at 10:20:59
Tony,

Tom Hagen is flying in from LA as we speak…..

Dave Abrahams
23 Posted 30/03/2024 at 10:26:18
Charles (22),

I think he is a bit of a phoney, Charles, all straight up front while having it off with his bit on the side, two-faced so and so and Michael took him off the scene when it got tough.

Tony Abrahams
24 Posted 30/03/2024 at 10:44:13
Richard Masters waking up to another Khartoum, Charles, but don't get me started because it sounds that murky, I'll be questioning why they haven't started exhuming bodies next!

Come on, Dave, Tom, didn't panic when he was taken off the street by Sollozzo, and Michael always said he made the decision because Tom wasn't an Italian.

That scene when Hagen goes to visit Pantangeli, who was under the protection of the FBI, is still one of the most heartwarming and educational things I've ever witnessed, unlike poor Spider in Goodfellas who got shot because him and his family were all rats!!!

Jerome Shields
25 Posted 30/03/2024 at 10:56:13
Moshiri's reply is that of a Puppet – or Muppet as I prefer. I have no doubt that the 777 Partners takeover will go ahead, because it is very amenable to their masters. Not that one. The Premier League's power to stop it is an illusion.

That 777 Partners are able to finance with millions, which appears to be a preferred option, knows no bounds, so any parameters set are worthless.

Noleen Daya
26 Posted 30/03/2024 at 10:59:31
I am completely with Tony @13. I fear we'll sink further into the mire if this takeover happens. I hate being negative but, for my own sanity, I'll prepare for the worst.

Although in saying that, I don't really believe one can prepare for such. If the worst happens, I know I'll be absolutely shattered.

Dave Abrahams
27 Posted 30/03/2024 at 11:09:12
Tony (24),

Nah, Tom was Sonny's mate, took him off the streets, Michael was relegating him in a nice way.

Heartwarming and educational? He was telling him how to bleedin' top himself!!

Tell you what, though, I'd rather talk about The Godfather at the moment than Everton; wasn't fussy about Goodfellas.

Danny Baily
28 Posted 30/03/2024 at 11:10:32
Tony 13, my read is different. The least painful short- to medium-term future for us involves the 777 deal going through.

We're a mess financially. The best we can hope for is for 777 Partners to keep us afloat. They will undoubtedly starve the club of on the field investment, and we'll have to battle the odds to stay up, starting today. But it's the best we can hope for.

The alternative is administration and what will likely be many, many years in the wilderness following on from that.

In short, it will be easier to stay up from here than it will be to claw our way back to the top table. Staying afloat financially is key to achieving this.

Tony Abrahams
29 Posted 30/03/2024 at 12:24:03
Leicester have been in administration, dropped down to the third tier of English football, and still won every domestic honour, and more, since we last won a trophy, Danny.

I'm with The Esk, if it's true he said that he would sooner have administration rather than 777 Partners, because I would sooner take some short-term pain if it meant we were allowed to get decent ownership and reset, rather just continuing to go through the motions, which is not something Everton Football Club, should have ever been associated with.

No wonder we have lost so much respect as well as our standing within the English game if some fans are prepared to accept owners who they think will starve the club of on-field investment even if I understand why you are saying this, Danny.

Danny Baily
30 Posted 30/03/2024 at 13:34:36
It was a painful process for Leicester. That's what I meant by least painful in the short to medium term. If it hits the fan, we could come back undoubtedly. But it would be a painful process, and as a fan base we're not well prepared for the change in status that's coming.
Jerome Shields
31 Posted 30/03/2024 at 15:14:00
Tony#13

What can we do?The Premier League is turning into the Wild West.Most of the teams are not in profit.It could become a regular feature of a season waiting on the results of a appeal to work out your final points.

Jerome Shields
32 Posted 01/04/2024 at 08:42:04
As for the takeover it is part of the mess,since it has added £200 million approximately of debt,with interest attached.Increased to 90% wages and unproductive travel, including a jolly in Portugal.MSP pulled out on getting wind of the 22/23 figures, during due diligence.

Moshiri really is a Muppet.It is not worth taking his letter seriously.Multi Club the way forward as if he has a clue.God knows what the true figures are and if they are close to the Premier League monitoring calculations.I have had my doubts regarding the figures that have been bandied about by Everton.


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