777 Partners seek loan to help cover Everton acquisition

Surely the Stadium holding company wholly owned by the club, ie, Moshiri is the only entity that can do the borrowing and put a charge on the stadium.

Once again, thanks to Bill "I've found you a Billionaire like I said I would" Kenwright.

What would Everton do?

Or Blue Owl would only front them the cash once approval was granted.

I'm fed up with the whole thing.

I'm tired.

Help us, Obi Wan Kenobi, you're our only hope.

🙏🏻

Personally, I prefer the latter, a clean-slate phoenix club, starting life in the umpteenth tier of English football (football - remember when that's all supporting Everton involved?).

Better than any asset-stripping wrecking ball attempting to swing its way into the club for seemingly its own fiduciary relief.

I can't believe there wasn't a properly funded interested party ahead of 777 Partners. Perhaps those with the funds were too nervous about the relegation threat to take a chance.

777, MSP and R&MF are all on the line for a potential catastrophe if we go into administration and I don't believe their respective security is worth the paper it's written on.

R&MF has secured its debt against most of our assets - what assets? We don't have anything worth anything like they are owed. MSP is secured against the stadium. EFC in administration means they are secured against a half-built stadium with no principal tenant. And I don't think the 777 debt is secured against anything.

If 777 Partners fail to get another loan from Blue Owl and meet the Premier League's criteria, we can only hope that MSP takes those shares, arranges a deal with the other creditors, and sorts us out over the coming seasons. All that without Premier League status being assured – it's a big ask!

He'll forever be remembered as a gobshite kopite in my eyes.

I like your style

Nothing has changed since Kenwright had to get a loan off Paul Gregg to buy the club, and that's who has us where we are today.

Moshiri should threaten administration, we are right Royaly shafted with these loans and high interest rates.

Call their bluff: “I am about to go bust so you need to reduce the interest rates! Or you will only get 1p in the £ of what we owe you once in administration!”

That would also mean MSP, 777 and RM all have a decision to make. Any future penalty on PSR falls away too.

It's the only chance we have of getting to a level playing field. The administrator decides who actually gets paid then. UTFT not to 777 Partners.

It's like me going to the bank as a 19-year-old to buy a Ford Capri 2.8 worth £2,000 at the time. I think I paid back £3,000 to own a bucket of rust.

They clearly cannot afford to buy us but like me thought it was a fanny magnet and had to have it, at any cost. Fucking chancers who know we are a sleeping giant.

Not if they buy us we won't be. We'll be a big fat dead one with no pot to piss in. We need a knight to come over the hill with billions falling out of his pockets. I'm with Jay, I've had a gut full.

Correct me if I'm wrong, but if the deadline date of the repayment to MSP is Monday, Moshri can't threaten a damn thing after then! The majority share of the Club will be MSP at 51%.

The above is our best chance to right this very sinking ship.

To think we could have had the 55k Kings Dock built for us using goverment money prior to the Capital of Culture. Cheers, Bill.

Moshiri, can he really be an accountant? Incredible irony. Why didn't we just borrow the money off Liverpool Council like they offered? Surely that would have been a better option than pay day loans from shady loan sharks.

What a total mess. Is there a chance here we end up like Rangers?

Best thing would be for him to renegotiate those loan interest payments and hang in there for another 5 years until that stadium is finished and bringing in revenue... Then we might have a future... so long as he leaves Thelwell to run the football side sensibly.

Only if MSP decide to exercise their option of converting the loan into the shares.

All this talk about Blue Owl Holdings stepping in shows that 777 Partners can not raise the capital required to buy the club via the Premier League deadline conditions.

As far as I have read, the Blue Owl funding deal will only commence with the successful purchase of the club by 777 Partners themselves.

If 777 Partners approach Blue Owl Holdings for additional 'equity' to payoff of the £158m owed to MSP/BC, and additionally to place the required £60m in an escrow (which will only pay for the operating costs till the end of June according to Paul the Esk Quinn), then the fact that they have borrowed this £218m places them over the Premier League's 65% threshold limit for a leveraged buy-out; bearing in mind that they would also have to pay Moshiri his £64m, though I'm sure he'd settle for a deferred payment currently.

Let's just remind everyone of what 777 Partners have to do as reported by Josimar; the headline conditions are as follows:

(i) Conversion of working capital loans by 777 Partners totalling currently circa £200 million into equity;

(ii) Funds into an escrow account to keep the club going for the rest of the season, (circa £60 million);

(iii) Proof of funding to complete the new stadium, and repayment of MSP's £158 million stadium loan by mid-April; (My insert, 15 April deadline, ie, Monday);

(iv) Payment to Moshiri: £64 million up front, rising potentially as high as £130 million if a series of milestones are met.

From Paul the Esk's website:

"That's a total of more than £430 million required in cash.

In addition there's the c £200million of working capital loans to be converted into equity. Ordinarily that would not require fresh cash. However, it is understood that the funding of these working capital loans were through borrowings incurred by 777 Partners and associated companies.

As a result, these loans incur onerous interest costs. Given the cash constraints of their businesses, the capital injection required (as described), is it sensible to assume 777 Partners can convert loans to equity without repaying the underlying loan, when those loans themselves carry very high interest costs to the 777 Partners?"

Realistically, the 777 deal is dead in the water, unless they capitalise via their own assets, which they seem unwilling or unable to do, as seeking external capital would surely be on a loan basis, which aggravates the aforementioned Premier League leveraged buy-out rule.

Myself and several posters discussed all this on Paul the Esk's thread you posted up here a little while back, but which got buried to all the news breaking about the club at that time.

Moshiri is about to lose control of Everton – the question is to whom?

As a disclaimer, the Blue Owl Holding deal was done back in late February or early March allegedly (or as posted online) and also the 777 Group's football club Tifosy Capital 'Operation Echo' fund, also has monies available to 777 Partners, but it is strictly stipulated that that fund can only be accessed by 777 Partners for Everton after 777 have completed the takeover (if they ever do).

From reading what the 'Citizen of Surburbia' (CoS) posted up, there is not going to be a quick and or easy solution to our problems.

Even though, as the CoS posted earlier this month, Everton are certainly distressed currently, but with the saving grace that they are still a 'going concern' due to their owned assets (we have about £334m in assets offset against debt, according to the CoS's own figures), but with the caveat that Everton retain their Premier League status.

If the club get relegated, we'll be certain to go into administration, with a very small chance of insolvency, just due to the attraction of a club like Everton being available for a relative pittance.

As your colleague Michael is so fond of saying during these troubled times, it's let's wait and see.

We should all have a 'clearer' (though not a perfectly clear) picture of where we are by the end of April. That also includes where we are in the table and our points total.

Good wishes.

I wonder if Josh Wander goes to his lenders with that cap in his hand?

I know some are saying go into administration to wipe the slate clean, but that then gives us a further 9-point deduction.

If there is no knight in shinning armour, maybe that is the better option, press the reset button, rather than let these chancers take over.

We are that bloody much in a mess, even Morrissey has swerved clear of writing a song about us — can it get any worse?

I just want to wake up one day to good news for once, someone offer me some deliverance, no not the squeal like a pig, someone somewhere offer a light at the end of the tunnel.

Please.

Sky will have an Everton Loan Deadline Day hosted by Jimmy White on Monday!

Just get the fucking thing done and spare us all the heartache.

The new stadium is the biggest folly of all Moshiri's idiotic acts. It never made financial sense when it was initially supposed to cost £500M. At the current £800M it's projected to cost, it will financially cripple the club and choke it to death over the coming year or two.

Let's get this season done and the takeover done, whatever flavour we agree or disagree with.

The stadium is a long overdue long-term investment that lays the foundations for the future.

Staying at Goodison will more so be the death of this football club as we know it.

Football used to be fun. All you had to worry about was the result on the day. It's all gone mental now.

Let's worry about the result on Monday and hope a few results go our way this weekend.

But ultimately we have to control our own destiny on the pitch.

Then onto Stamford Bridge and get a result.

There have been several hints that the sanctioned Uzbek is behind these bail out loans. Conspiracy theory, or could there be some truth to the rumours?

AI

The Grand National will provide for those who like a bet, on the horses, a bit of fun.

I'm going for Late Night Pass, e/w and I am Maximus, on the head.

Less runners than previous years and from studying this morning, I think its wide open.

But the most important matter is Monday night at Stamford Bridge.

Everton if they believe, can beat Chelsea.
I hope they don't give Cole Palmer, too much respect.
Focus on the Everton squad, todo their jobs and keep shape and take their chances.

But as we know it's not that simple.

But, UTFTs!

Viva Santo Domingo!
Viva Everton!

Someone will eventually.

Blue Owl has a nice ring to it. Obviously the Blue in the title and the Owl is a bird renowned for it's wisdom.

Paul, don't forget the new one, which I think may catch on.

Bella Ciao!

I have held two consistent positions on here.

1. Kenwright is the worst thing in the history of the club.
2. There's no new ground.

As I have said all along, I don't want these to be involved at all in any capacity, although initially I did say, "I would welcome anyone to get rid of Moshiri."

I am sick to death of all the "experts" chipping in with their take on the state of the club and that Cabbage Patch kid from Luton some leader he is playing on an allotment.

From Kings Dock to Bramley Moore Dock to London Bankruptcy Court Dock that is Kenwrights Legacy.

I prefer watching the A League now. No corruption, no pansy cheats and entertaining.
Hate the prem and care only about Everton.

UTFT.

Our dire situation go'es from bad to worse and, i'm begining to think that we should just get relegated and put us all out of our misery.

They stole, they sold whatever they could… and then, when it couldn't operate any more, they burned it to the ground.

He's worth a lot more than the Stadium and Club put together isn't he? Just put your back into it, Farhad… or does he hate us?

I doubt Moshiri has put any money into Everton, it's more likely his mate Usmanov has. Usmanov probably now thinks he's not putting another penny into the club.

If he gets nothing back on his investment, it's been an expensive mistake. But being with £14B, he will survive.

Thanks for that insight. It sounds a reasonable explanation of what happened to the MSP Sports Capital deal. My reading in the context of the present situation is that MSP Sports Capital, having security of 51% of the shares, did not want more shares.

But I don't know how this would work in with the payment to R&MF. It is more likely that MSP Sports Capital will push for a creditors agreement in the current situation rather than take over control of the shareholding.

The other question is, if 777 Partners did fund the monies to R&MF, did this increase the claim on Everton shares for 777 Partners? The agreement with Moshiri, in such circumstances, could give 777 Partners a majority shareholding in Everton, with the problem of not being fit to fulfil the Premier League's ownership conditions.

Who in their right mind would lend 777 Partners any more money?

What's that big thing facing the Bramley Moore pub then?

Looks a lot like a new ground to me.

All my positivity I had for 777 Partners has been sucked away by their unprofessional approach, poor communication, and terrible management of this takeover.

I mean, Moshiri has been terrible, the worst ever, but these are not even in control yet and they are fighting fires, fighting media negativity, fighting court cases left right and centre, don't even seem to have the finance in place.

Joke.

Bella. Bella!

Then what?

What a soap opera!

Considering we are talking about a multi-million, possible take-over (hope not by 777 Partners), these two main protagonists always turn up wearing Baseball Caps. I'm sorry but that just smacks of disrespect and un-professionalism to me, am I that much out of touch, or is this normal?

To think, we moved from Anfield in part due to not wanting to be associated with immoral money from alcohol production, a scourge of society at the time.

Now 777 Partners with their even darker links:

Everton new owners accused of kidnapping and extortion, founder a drug trafficking convict — Tribuna, 15 September 2023

I've seen better-dressed wounds.

Probably most people on TW have been sceptical and untrustworthy of these to start with, that link confirms what most have suspected.

Just hope and pray there is some light at the end of a very long tunnel – one the magnificent supporters, have had no part in, and definitely don't deserve!

Discussing the EFC situation yesterday with a mate who lives in Australia and he said to me "What type of businessman wears a baseball cap with a jacket and tie?"

Deadline passes tomorrow so hope they get booted into touch. Requesting an extension further shows that they are a bunch of no hopers and conmen.

We are deeply in the shit so would rather we go into administration and hold out for someone to come in with the club's best interest at heart. Start again from scratch.

Moshiri doesn't care about the club in any shape or form and seemingly just wants to get anything he can for the Oligarch.

I am no great fan of Moshiri, 777 Partners or the Premier League but they are paragons of virtue compared with some of the media. It is imperative to be very, very selective who you believe when it comes to the media, and to be honest they all stretch the imagination at times.

That article is old news rehashed with a click bait headline.

What is happening?

It's murkier than the Mersey, incredibly murky, as we wait to see if MSP are to be repaid their loan today.

Some of the stuff I've just been getting told is horrible, but behind the scenes at Everton has been horrible since the saviour remortgaged his house.

If you lived in a place that more often than not has bright sunshine, then you might wear a baseball cap. I cannot imagine that they sell well in Lancashire.

MSP will do what's in the best interest of their members — the best interests of Everton FC or 777 Partners will not appear on their radar.

Mr Jordan highlighted that clubs usually get takeovers when the selling club is financially distressed. He highlighted the rebirth of Aston Villa as a force in the upper reaches of the Premier League. It was only a handful of seasons ago they were in the Championship, of course.

Hopefully there is indeed a suitable custodian lurking, ready to pounce soon, who leaps into action sooner than later.
If debts can be written off through administration, though, I fear that will occur before we are saved, due to the magnitude of the debt. UTFT.

I haven't had SS News on today but it wouldn't surprise me at all. In fact it might not be a bad idea having regard to the mess we are in BUT who is going to do it. I doubt if Moshiri would instigate such a move unless someone in the background told him to.

Another thing I find alarming is, since USM being stripped from the club, why haven't we heard any news on naming rights? The new stadium at Bramley-Moore Dock is situated on the Mersey – surely this would be an appealing location to potential naming rights partners?

Surely we could raise some of the funding required through this avenue as Everton surely need to be sounding potential suitors out, ie, major technology companies, sporting brands, mobile and broadband companies, car manufacturers, major tyre manufacturers (eg, Pirelli, Michelin), airline companies

Surely these are revenue streams we should be aiming to target?

It may be cutting our nose off to spite our face but, if Everton have any sense after the way we've been treated by the Premier League, tell them where they can go when it comes to using the new stadium for the upcoming Euros and we should be looking to bring a lawsuit against the Premier League.

1. The former directors determined their own pay offs when leaving the club.
2. The club plans to sell a stake in the new Everton Stadium at Bramley-Moore Dock.

Please God, no.

I think that selling at least part of the stadium is the only way to raise badly needed capital.

The football club and the cost of the stadium combined adds up to a mountain of money.

Mind you, knowing the way we operate, we'd volunteer a commensurate share of TV money, shirt sales and transfer dealing profits.

I've heard that there is a certain person who is connected to Rights & Media Funding, who has already made an absolute fortune out of Everton, so nothing would surprise me.

So the new stadium is owned by a company which in turn is owned by EFC, then whoever controls EFC controls the stadium company.

The stadium company has been loaned money by Moshiri, MSP and maybe others. MSP have the option of controlling EFC by way of their loan to the stadium company and hence control the stadium company. This is as complicated as 777 Partners. I would like to hear Paul Quinn's explanation of all of this.