14/05/2024 56comments  |  Jump to last

The Premier League's Chief Executive, Richard Masters has defended the length of the ongoing and still unresolved takeover by 777 Partners of Everton, explaining that, ultimately, it is up to Farhad Moshiri.

Masters was speaking this morning to the committee meeting of politicians over the Football Governance Bill that seeks to bring in an independent regulator where he was challenged over the Premier League’s Owners and Directors Test and whether the situation with Everton was evidence that decisions were not being made with “objectivity and certainty”.

Asked why the bid had not yet been rejected despite the process having now taken eight months, the League's CEO said. “I want to be clear what the Premier League’s role in this is, as regulator — it’s to perform a test, it is not to decide who the current owner wants to sell his club to. That is his decision. At the moment, he wants to continue to have discussions with 777 about it.

"The Premier League has made very clear the conditions that have to be met by 777 if it wishes to become the owner of Everton. At the moment, because the takeover hasn’t been confirmed, I will leave it to the committee to make its own conclusions for where we are with that.

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“I do accept takeovers that carry on for a very long time are not good for fan certainty and that is why we have a very big team of people who do nothing else than this.

"All I would say is that, over time, particularly in the Premier League, takeovers are becoming increasingly complex. We want to make sure all decisions are correct even if that means taking a little bit more time to make sure that decision is correct.”

While the comments from Masters concern 777 Partners, it is increasingly believed that the Miami-based firm's bid to buy out Moshiri's 94.1% Club is doomed as they struggle to meet the conditions placed on them by the Premier League, which include the commitment of a further £220m in up-front funds.

According to reports, the group recently hired advisers to restructure their own business following a string of financial challenges and a growing number of court cases they are fighting in the United States while co-founders Josh Wander and Steven Pasko have left the board of directors of 777 Football Group.

The European Clubs' Association will also encourage Wander to step down from the board position he assumed last year on the grounds that, according to Shamoon Hafez of BBC Sport, "777's current situation does not reflect well on the ECA."

777 Partners are under fire from supporters of Standard Liege where they hold a majority stake and protesters forced the postponement of their league fixture against Westerlo last week.

In the meantime, speculation has grown that MSP Sports Capital, one of Everton's creditors who had hoped to buy a 25% stake in the Club last summer, are working on an investment plan to either step in to take the Blues over or, at the very least, assist in restructuring the bulk of the outstanding debt for the time being.


Reader Comments (56)

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Brian Harrison
1 Posted 14/05/2024 at 10:46:50
The silence from Moshiri is deafening, fans are discussing what players we should sell and retain, yet we still don't know the answer to the most critical question which is: Where is the funding coming from to keep this club afloat?

Yes, the latest £8M from 777 Partners will see us secure for the next few weeks but what happens after that, seems highly unlikely 777 will pump any more funds into Everton without getting the go ahead from the Premier league and that looks unlikely.

So if no new owner is found and Moshiri doesn't put any more money into the club, there seems one only outcome. Even if a new owner comes forward it will take a few months before they would get the go-ahead from the Premier League, so what happens next, Moshiri?

Stephen Davies
2 Posted 14/05/2024 at 11:16:10
I'm sure there's a meeting arranged between Moshiri & FAB (Fan Advisory Board) very soon…
Tony Abrahams
3 Posted 14/05/2024 at 11:17:26
My guess is that whoever is going to be buying Everton, Brian, will be constantly talking to Rights & Media, MSP, and 777.

People want Everton, but who ends up buying the club, and how much they end up having to fork out, to purchase the club, is everyone’s guess at the moment.

Anyone who isn’t both frightened for our future and exasperated at the disgraceful mismanagement, I mean, otherwise it’s best just switching off until we hopefully hear some good news.

I know it’s not easy switching off, (it had me totally up the wall in April) but I take solace from what Alan Myers wrote, because I’ve heard there’s more people involved than just Bell & Downing, (MSP) who have got an emotional attachment towards Everton FC🤞

Hopefully Moshiri is working hard to get something over the line before he has to meet the fans, Stephen, although who wouldn’t want to hear a secret tape recording of that meeting!

Tony Abrahams
4 Posted 14/05/2024 at 12:07:49
Morning has broken
Masters has spoken
Moshiri is jokin
And we are all still the none-wiser.
Mal van Schaick
5 Posted 14/05/2024 at 12:40:04
777 masquerading as many different associated companies, is I suppose nothing new in the murky world of finance and football, and I find it incredible that our current owners are attempting to pass our great club on to a bunch of misfits akin to loan sharks.

Moshiri, if you have any respect for the shareholders, fans, staff and players pull out of this deal now, and tread a different path to ensure that Everton (as a club), are placed into the hands of decent, respectable, solvent buyers who will cherish the club and make a better future for it.

Mike Hayes
6 Posted 14/05/2024 at 13:06:24
According to Sky, the idiot Moshiri still wants to sell to 777 Partners.

It's like selling it back to the idiot he bought the shares off – is there any good news for the club?

Peter Hodgson
7 Posted 14/05/2024 at 13:19:30
So the can-kicker Masters would be happy to never make a decision?

That makes it abundantly clear that they truly haven't got a clue and the sooner a Government-appointed Regulator is appointed, the better for all concerned – good or bad.

Their system (if you can call it that) for approving owners is a bad joke and not fit for purpose!

Andy Duff
8 Posted 14/05/2024 at 13:27:32
I'm guessing one of the reasons we are struggling with PSR is the rediculously high lab repayments in particular
the interest payments on loans.

If a new owner came in and cleared the debt, would that all of a sudden mean we could be competitive again. Does anybody know how much interest /repayments we are paying on the various loans per month?

I know this is a big IF.

Stephen Davies
9 Posted 14/05/2024 at 13:31:54
Oooh the Tease (From Tim Cahill)

Had an amazing time meeting with His Royal Highness Tunku Ismail, the regent of Johor Darul Ta'zim FC owner.

We discussed exciting new football ventures and it was inspiring to see his vision for helping football, grassroots, and education. @HRHJohorII

Michael Kenrick
10 Posted 14/05/2024 at 13:32:21
It says in the Echo:

"Richard Masters has offered new insight on the attempted takeover of Everton by 777 Partners."

Er, no he hasn't. He's said virtually nothing confirming that the situation has not changed, that Moshiri still persists with 777 Partners — despite many ITK assertions to the contrary.

Also that the Premier League continues apparently without judgement on 777 Partners yet or still — despite the almost daily avalanche of negative stories about them. Masters gives nothing away in terms of how these may or may not be influencing the process which he implies simply continues to grind on with no apparent resolution.

And so it goes on…

Christopher Timmins
11 Posted 14/05/2024 at 13:39:36
And on and on and….
Brian Williams
12 Posted 14/05/2024 at 13:52:49
As much as Masters is a complete see you next Tuesday, in this he's not saying or doing much wrong.

My understanding is that It's not the premier league's job to "disallow" or "reject" a prospective owner but to give that prospective owner a number of conditions to satisfy the premier league's requirements.

It's then up to the prospective owner to do that. If the prospective owner can't, it's up to the present owner to ditch them and find someone who can.

Michael Kenrick
13 Posted 14/05/2024 at 13:57:37
While that's one take on things, Brian @12, I think perhaps Giulia Bould has a better take on the process:

BBC Journalist Guilia Bould suggested on X that the Premier League previously told her that they could reject 777 Partners. In a separate tweet, she wrote that the Premier League do have a reject option but it is “hard to use”.

“Interesting comment from Richard Masters as when I asked the Premier League for the potential outcomes of the Owners and Directors Test I was told they CAN reject Everton,” wrote Bould.

She added: “Clarity, I'm aware the reject process has specific reasoning. The point is 1) there IS a reject option. 2) the criteria to reject is so specific it is hard to use & means Everton remain in limbo where 777 can't be accepted or rejected & the OADT has no timeout either so doesn't end.”

Peter Hodgson
14 Posted 14/05/2024 at 14:09:39
So Brian @12 having the Premier League as the body who pronounce if a new owner is suitable or not is an absolute waste of time if what you are saying is correct. You are saying that a prospective owner cannot rely on the Premier League to make such a judgement. What are they there for then? Why include their tests if they are not going to make a decision at the end of it?

According to Masters it's not their job!!

What a load of bollocks. However it is befitting of them. Useless is the best word to describe that sort of attitude and the reason why there has been so many calls for Masters to go as he just epitomizes the organisation he supposedly leads.

Change can't come soon enough.

Michael's post above probably gives a more accurate answer and that is It Is More Difficult For Them To Do so bugger it, we will just kick the can down the road again and sod Everton and Moshiri.

That sound right?

Paul Hewitt
15 Posted 14/05/2024 at 14:17:08
After all the grief the Premier League and Masters have given us this season, att least we can thank them for not approving 777 Partners.
Michael O'Brien
16 Posted 14/05/2024 at 14:17:58
Brian @12,

Yea that's exactly how I read that, basically “here's what you need for the take over”.

Clearly 777 have not or cannot meet the criteria. So clearly they should be binned off.

Moshiri is persistent in 777 because the terms are “favourable” for him. Why else would he stick with them?

Ian Jones
17 Posted 14/05/2024 at 14:19:51
Tony @ 4,

Are you suggesting that could be the new Everton song? :)

Michael Kenrick
18 Posted 14/05/2024 at 14:35:26
The massive and unassuaged frustrations are understandable, but the reality is surely that Farhad Moshiri would not announce to the world that the 777 Partners deal is dead… unless he already had a back-up plan in place.

If that is true, the silence being decried above is merely a passing stage where we must await the next development; we must wait until the new buyer has been put in place…

This from Masters makes it abundantly clear that disapproval is highly unlikely to be coming from the Premier League, so only when there is a new buyer in place will Moshiri come forward and announce that 777 Partners have ridden off into the sunset, never to be seen again.

Well, except for a small matter of £210M in loans to keep the club afloat. A satisfactory resolution of that matter would almost certainly have to be negotiated as part of any new takeover deal with A N Other.

Indeed this article in Forbes hints at the same impasse:

Everton Takes Care Of Business On The Field As 777 Uncertainty Reigns

"The onus appears to be on current Everton owner Moshiri to move on to seeking another suitable buyer, rather than for the Premier League to give an outright no to 777. Something he is increasingly expected to do.

"But as long as the Premier League believes Moshiri is still in discussions with 777, with whom Everton has already taken out numerous loans separate from any takeover, the league will not stand in the way of those discussions."

Jamie Crowley
20 Posted 14/05/2024 at 14:49:47
I agree with Brian @ 12 and Michael @ 18.

Masters, in as much as he's botched this, is saying nothing wrong here. The Premier League has put conditions on the takeover, which they should do and is their right to do as the governing body. It's not their job or right to tell owners who they can sell to and who they can not sell to ultimately.

As Michael says, we're left dangling in the wind awaiting the next development. And the next development will only occur until 777 fulfills the restriction placed upon them to acquire the club by the Premier League, or if Moshri backs out.

I see the real issue being Moshril willing to extend these deadlines placed upon 777 Partners. The frightening thing is if 777 asks for yet another extension. If Moshri wants another extension, the Premier League will grant it and purgatory will continue.

Someone is going to come in with a verbal offer contingent upon 777 not meeting a deadline. When that occurs, Moshri will back out of the 777 deal and take the new one. When that happens, God only knows.

It is a circus. Just pitch the tent, buy a ticket, and watch the train wreck.

Jamie Crowley
21 Posted 14/05/2024 at 14:51:10
And Michael crossed my post at 18 with his post at 19 and says exactly what I think and what is happening.

There you have it. Watch the show unfold – unfortunately a show that has gone on far too long.

Denis Richardson
22 Posted 14/05/2024 at 14:51:20
Brian 1, I believe the next payment of tv monies isn't far off so would hope/assume the £8m just put in is enough to get us to that point in time or at least near it.

I imagine we'll also be looking to sell someone before 30 June for PSR as well as to get cash in.

As noted before, as long as we're in the top league I cannot see how we can go into administration when guaranteed over £150M a year in revenue. At worst the equity holders need to do a deal with the debt holders. Administration is bad for all.

Ed Prytherch
23 Posted 14/05/2024 at 14:53:34
I can see what Masters is trying to avoid: He disapproves 777 and then Moshiri claims that he almost had the deal over the line when it was scuppered by Masters.
Michael Kenrick
24 Posted 14/05/2024 at 14:54:45
Sorry to be hogging this thread but relative to the question "Why hasn't the Premier League rejected 777 Partners?" — there is an article at Yahoo! Sport:

Premier League reiterates ‘very clear' stance on 777 Partners Everton takeover

It includes the following in reference to Masters and the parliamentary committee:

Asked by Damian Collins why the Premier League had not rejected the 777 offer outright, amid uncertainty over the group's finances and problems at its other clubs, Masters said his scope was limited. He said the league could approve a deal or leave it unapproved but could not reject it and that it was up the seller or proposed buyer to take a deal off the table or meet the league's demands.

Ian Wilkins
25 Posted 14/05/2024 at 14:56:54
The Premier League fence-sitting stance means that pressure from EFC Shareholders and FAB etc is essential to put them on notice that we expect them to execute their duties, especially fit and proper owners test, properly. We as fans, are not supportive of 777, and the reasons for our concerns are obvious.

For the benefit of the Premier League and Moshiri, this must be kept ‘live'. If Moshiri is still clinging to 777, in the circumstances that surround them, which spiral downwards daily, then something is not right here… it smells.

Let's hope he is waiting the right moment to trumpet an alternative plan. It is a debt laden mess, but we need those sensible, Everton friendly heads to step forward and orchestrate a pragmatic way ahead.

Bill Hawker
26 Posted 14/05/2024 at 14:57:10
Not a Masters fan by any stretch but he's basically saying what we already know. The ball is in Moshiri's and 777's court. Once they come to an agreement, then the Premier League needs to apply the fit and proper persons test. Right now, there's no agreement so no test.

I think it's pretty clear that 777 would have a very hard time getting the approval so really no need for him to say anything other than what's said above.

Jamie Crowley
27 Posted 14/05/2024 at 14:57:14
Here's my nightmare scenario:

777 sells Standard Liege and a few other "assets" (or any assets really, doesn't have to be Standard Liege) to fund the acquisition of Everton. Moshri accepts extensions to facilitate this.

777 then owns Everton and uses Everton and all its assets as collateral to further other "investments", leveraging us to the hilt to continue the wicked Ponzi scheme they've created.

That's a real possibility in my mind, so pray that doesn't happen.

Jack Convery
28 Posted 14/05/2024 at 14:59:20
A giant game of Poker, with no one willing to blink first. MSP and Rights & Media Funding need to call Moshiri's (USM's), bluff; otherwise, it's administration and surely none of them want that. Apart from Masters maybe.

The Premier League would love to give –9 points to EFC on top of the points we're going to get deducted for more PSR issues, including the interest payments on the stadium. Something, I believe Spurs did but no issues with PSR for them.

Masters is deffo Slitheren.

Mark Ryan
29 Posted 14/05/2024 at 15:00:23
This has to be down to Usmanov telling his puppet, "You sell to 777 and nobody else."

It would not surprise me in the least if Usmanov is the brains behind 777 and Wander is simply a middle-man. Meantime, Moshiri is sat on the Bog chewing his nails and shitting bricks.

It stinks. The deal and the other bit.

Michael Kenrick
30 Posted 14/05/2024 at 15:11:39
Bill @26,

I'm afraid I'm gonna have to go all contrary on you and disagree strongly with what you have posted.

Once they come to an agreement, then the Premier League needs to apply the fit and proper persons test. Right now, there's no agreement so no test.

They have an agreement. They have had an agreement since 15 September 2023 — 8 months tomorrow.

There is no "fit and proper persons test". No such thing. It's called the Owners and Directors Test.

The test is in underway – has been for months – and has led to the Premier League's conditional approval of 777 Partners taking over ownership of Moshiri's shares and thus majority ownership of Everton FC.

I think it's pretty clear that 777 would have a very hard time getting the approval

777 Partners have been given conditional approval by the Premier League. There are four conditions that must be met. They don't appear to have met the conditions yet. So final approval is still left hanging.


Peter Hodgson
31 Posted 14/05/2024 at 15:14:19
Michael @ 18.

That is correct as far as it goes but as far as Masters is concerned this could be a never ending process. He, they, are abdicating their responsibilities which is NOT their job.

They are tasked with making decisions which they are failing to do. I get it insomuch as it is down to Moshiri who he ultimately sells to, for good or bad, but all the evidence points to 777 Partners being unwilling or unable to conclude the deal with Moshiri within a reasonable amount of time. It is therefore up to the Premier League at some stage to refuse or grant them permission is it not?

777 Partners have not (nor does it seem likely will be able to comply) with what has been demanded of them. The least that should be done now (even after 8 months or more) is for the Premier League to tell 777 they must do what has been demanded by a certain date or they will be presumed to be unwilling/unable to be approved and therefore refused permision. No more extensions. The same edict to be provided to Moshiri for obvious reasons. Both will then be aware then of what is necessary.

It is called clarity.

Rick Tarleton
32 Posted 14/05/2024 at 15:17:52
Unfortunately, Moshiri has only had one offer that seems to give him a hope of not losing futher vast amounts of his personal money. 777 Partneres may be disastrous to all outsiders looking in, but to Moshiri they are his sole hope.

We all need him to accept what we consider a realistic offer, but that involves him taking a hit. Cynically, I believe that 777 can offer him as much as he wants because, realistically, whatever they offer, they cannot raise any cash and it is all fantasy money.

Ed Prytherch
33 Posted 14/05/2024 at 15:17:58
Michael, if that is 4 conditions not met out of 40 then it might be close but if it is 4 out of 10 then it looks much less likely.
Jamie Crowley
34 Posted 14/05/2024 at 15:22:01

It's not their job to require owners to sell or not sell to whomever the owner has entered into a deal with. They (the Premier League) have done their job. To ensure 777 is "fit and proper" they've placed restrictions on the acquisition.

Those restrictions have not been met. Moshri and 777 have asked for extensions to fulfill the Premier League's conditions. The Premier League is not in a position to tell them they can't have the extension if it's requested. They can only demand the conditions be met, and if both parties who want the deal to go through ask for more time to meet the conditions, the Premier League will grant it. Like, every single time.

Clarity isn't a factor here. The Premier League doesn't give a shit about clarity. Their only concern is whether or not the prospective buyers have met the conditions they set forth for acquisition. That's it. There's no PR lens or other issue, it's singular (or a four-headed monster in this case).

Michael Kenrick
35 Posted 14/05/2024 at 15:22:58
No, Peter, I believe you are imposing a process and responsibilities that simply don't exist.

"He, they, are abdicating their responsibilities which is not their job."

I don't believe that's correct. I think you'll find he's doing exactly what he is supposed to be doing per Premier League Handbook rules.

It is therefore up to the Premier League at some stage to refuse or grant them permission is it not?

It is not. I won't repeat so read the pertinent sections of this thread above.

There is no timeline, no deadline, as frustrating as that may be. Sorry.

Michael Kenrick
36 Posted 14/05/2024 at 15:26:34

If that is 4 conditions not met out of 40 then it might be close but if it is 4 out of 10 then it looks much less likely.

Ed, this is bad enough already without you throwing in a bucket of opaque mud.

Four conditions, period. Not 40, not 10… but 4.

Anthony Hawkins
37 Posted 14/05/2024 at 15:38:36
From what I can tell, 777 Partners haven't done anything illegal nor morally wrong at this juncture. Theres a lot of questionable decisions and suggestions of potentially improper conduct but there's nothing official at this stage. Even the legal challenges in the US are still to be proven.

I strongly dislike the idea of 777 being owners of Everton and do not want it, however, legally it remains a possibility. In practise, it's very very unlikely to happen.

The Premier League are saying 777 Partners have to meet certain criteria to become owners; however, they are still to meet those conditions. It's Moshiri's job to decide if the new potential owners will meet those criteria and persist or to look elsewhere.

We all know what Moshiri should do. The question is if he will before it's too late.

Jamie Crowley
38 Posted 14/05/2024 at 15:45:33

Technically you're correct. 777, to date, has done nothing wrong.

But one has to be exceedingly naive or simply have blinders on to think they conduct their business dealings akin to the Sisters of the Poor.

They are evil shits. Every effort should be undertaken to avoid these snakes owning Everton.

Jamie Crowley
39 Posted 14/05/2024 at 15:51:03
Anyone thinking 777 is the turd that can be polished?

777 is the turd after you eat six ears of corn on the cob for dinner.

You ain't polishing this turd, friends.

Peter Hodgson
40 Posted 14/05/2024 at 15:51:03
It doesn't sound, if the way this thread is going, if there are many people who want the best for Everton, as an onward going concern, and are taking too much interest in this. Perhaps I'll wait for the car crash and come back and comment again after that has happened.

Okay I get it. Nothing we say on here is going to make a scrap of difference to the ultimate outcome, but someone outside of TW might take a read and may be slightly influenced by what they read.

The drift I am getting is that everyone is more or less content with the trajectory of the negotiations as they stand. I find it difficult to understand that if true. But so be it. I'll shut up now.

Jay Harris
41 Posted 14/05/2024 at 15:54:59
I see the scenario is like a game of Poker.

Moshiri is keeping his cards close to his chest because 777 Partners, are continuing funding EFC so until he gets another party fully on board and has a plan for the creditors, including 777, he cannot and will not reject 777.

Much as though this is frustrating and creates uncertainty to the people running the club for our absentee owner, we have to be patient and assume no news is good news right now.

Andy Bell and George Downing (I hope I got their names the right way around) have both got a lot of experience in this field and, according to what we are led to believe, are working feverishly with Moshiri and others to get a resolution to the situation to avoid administration and end up with proper people running the club.

We should know nothing is ever easy with Everton.

Brian Williams
42 Posted 14/05/2024 at 15:57:09
Peter #40.

The drift I am getting is that everyone is more or less content with the trajectory of the negotiations as they stand.

Peter, I think I can say without fear of contradiction or disagreement from any poster that you're totally wrong!

Jamie Crowley
43 Posted 14/05/2024 at 15:58:16

This is my last post, but wanted to comment to you directly.

Nothing, absolutely nothing, you say doesn't make sense in a "fit and proper world." Unfortunately, we don't live in a "fit and proper world".

No fan, I have to believe, is happy with the trajectory of the negotiations. What's happening is frustrating beyond description. In a perfect world you'd not encounter these circumstances, or at least there would be some mechanism in place to stop this madness.

But when someone privately owns an entity, they can sell to whomever they want within legal means.

Don't shut up please. Your posts are refreshing in a way, because I'd think we're all banging our heads against a wall asking when will this stop, and won't someone, anyone step in to end this charade?


Pat Kelly
44 Posted 14/05/2024 at 16:12:55
This is not a problem of the Premier League's making, nor one they can resolve. If 777 Partners could have proven their bid was financially viable, they'd be home and dry by now.

However, it appears 777 can no longer get their hands on other people's money. Nor can they demonstrate where their future funding for Everton would come from, leaving aside shell games and three-card tricks.

We may be stuck in the Mosh pit for some time yet.

Stephen Davies
45 Posted 14/05/2024 at 16:15:56
What the guck is going on?

Farhad Moshiri agrees surprise extension with 777 over Everton takeover until end of month?

Exclusive: Moshiri has given Miami-based investors last chance to rescue a deal that remains in major doubt.

From The Telegraph

Brian Harrison
46 Posted 14/05/2024 at 16:16:35
Michael 36

I don't think it matters whether its 4 out of 10 or 4 out of a 100 that 777 have failed to meet, until they meet those 4 tests the Premier league will not give them the go ahead to take over Everton.

What's really curious is why would a company who have already pumped in around £210M keep funding the club, yet fail to convince the Premier League they are fit and proper people?

I would imagine that they would not only have to settle the outstanding loans of MSP and R&MF which are in the region of £360M, and both unlike 777 have their debts secured against the stadium, then it’s hard to see who would loan 777 the money to buy out those companies loans, with their poor credit rating.

We are now into their 8th month of trying to convince the Premier League of their suitability and have failed, maybe in the very murky world of offshore accounts that Mr Usmanov is funding 777 to keep Everton afloat, but obviously 777 Partners cannot let that cat out of the bag if indeed it has something to do with Usmanov.

Kevin Molloy
47 Posted 14/05/2024 at 16:31:16
This is hardball. Farhad I suspect knows that if 777 fall away he is going to have to negotiate with MSP at a rock bottom price, and he will only do that if he has to.

So he looks like he is going to entirely bugger up our summer in the vain hope that 777 get the green light.

Christopher Timmins
48 Posted 14/05/2024 at 17:11:39
Just accept that the Premier League cannot reject the deal. They have set out to the relevant parties what needs to be done in order that the deal can be completed. As the deal has not been completed, we can conclude that the required steps have not been taken.

This story may have a lot of mileage in it yet!

Mihir Ambardekar
49 Posted 14/05/2024 at 17:15:25
What is the point of the Premier League regulating takeovers?

It is so clear and obvious that 777 Partners are struggling big time with lawsuits, payment defaults and bad press. Everybody has waited enough and there needs to be a time frame to end this farce.

Premier League's Owners and Directors Test is bullshit. I mean we have waited for so long and when you have someone as bad as 777 Partners, this test should not have been applicable to them in first place and we should have moved on by now.

This lack of regulation for the takeover from Premier League is actually ruining our club and adds to further uncertainty.

However, I read up an article in the Echo, where it states that provision of capital to Everton was part of the agreement of Moshiri to sell the club to 777 Partners. These are contractual obligations to keep the agreement alive.

If they face another default here, they will face a lawsuit, while they also probably realize that the best chance of getting their money back lies with them providing additional funding given that their £200m-plus is through unsecured junior debt, meaning they would be behind the likes of Rights & Media Funding Limited, Metro Bank, and MSP Sports Capital in the event of any administration proceedings.

Moshiri holds the cards here and is probably already in talks with potential buyers to iron out a deal. Administration is not on cards and 777 Partners won’t get Everton in their portfolio – that is almost certain. Best chance for 777 Partners is somebody clearing this unsecured debt and rescue us from hell to heaven.

Ed Prytherch
50 Posted 14/05/2024 at 22:51:31
Michael, 36,

I should have made myself clearer. Do we know that the Premier League had just 4 conditions to be met and if so do we know if 777 failed to satisfy all of them or any of them?

Also do we know if there were more conditions and 777 satisfied all but 4 of them? Maybe you know the answer but I don't.

Derek Thomas
51 Posted 14/05/2024 at 23:06:15
Either the penny has finally dropped or somebody (Uncle Uzzi? Masters? or via Masters?) has had a word in Moshiri's ear.

Pity they can't give him a kick up the arse too.

Eric Myles
52 Posted 15/05/2024 at 06:17:19
Michael #30, is it defined anywhere as to what the test involves in the Owners and Directors Test?

Because with 777 Partners, all they seem to have done is set some financial requirements in order to obtain approval. So does that mean that they will approve anyone who can borrow loadsa money and saddle a club with debt?

Not a very responsible way to approve the new ownership if you ask me and takes no account of whether the owners and directors are competent persons to manage a club. And it seems that their own company have decided that Wander and his pal are not competent having removed them from their positions in their Football Division.

Michael Kenrick
53 Posted 15/05/2024 at 12:36:43
Ed @50, sorry I don't read it right.

My recollection is that, when granting their conditional approval of 777 Partners, four conditions were set forth by the Premier League for 777 Partners to satisfy.

At least one of the stories I linked above included the statement that 777 Partners had so far failed to satisfy any of the four conditions set by the Premier League.

This all came out relatively late in the process (I should link back to the story and find the date) which is somewhat opaque to us mere mortals but could well have involved a series of 'conditions' if you like (more probably 'requirements') that were not made public but that the prospective new owners needed to meet in order to pass the Owners and Directors Test.

Eric @52,

I would have to start with the Premier League Handbook but I would have thought The Alhletic or someone else must have published something on this.

A couple of things we know were being asked for were (1) audited accounts for 777 Partners, and (2) the source of their funds. We seemed to have moved on from those issues but I would be very surprised if they have been adequately resolved, which does suggest that the Premier League is being incredibly lenient with them, as the BBC headline says, quoting Masters: Everton ownership 'not for Premier League to decide'.

One thing Masters has clarified to me at least through all this is that it is very much up to Moshiri if he wants to carry on with 777 Partners. And the message has come back: "Yes, at least until 31 May."

I find it revealing to see how many Evertonians are having such a struggle with all this. It shows that many of us seem to have a big issue with uncertainty. Yet for me at least, life seems fundamentally uncertain in most respects, and to expect certainty where it simply does not exist is just a tad unreasonable, it seems to me.

But okay, judging by the vehement and passionate responses, I'm obviously a little odd in this respect…

Dale Self
54 Posted 17/05/2024 at 12:53:10
Tony 4, with that opening line I thought you would Catch a Bull at Four and go Cat Stevens on us.

Yes, Richard, if I may call you that rather than some expletive laden tag, it is a good line for the Premier League not to be choosing to whom a particular owner sells. On the other hand, the rather fluid nature of the Premier League's review of capital candidates has now resulted in a logjam of short term debts without a clear view forward. This has damaged the overall financial health of the club and made new investors' assessment of the potential club value damn near impossible.

This is on your desk. Your guidelines are what has given 777 the chance to muck around and sully the whole process. There is no scapegoat for what is ultimately a regulatory failure. I am sure you will be given the chance to refine your defence of the process.

Dale Self
55 Posted 17/05/2024 at 13:04:05
Okay, at least he isn’t blaming his wife like some others.
Jerome Shields
56 Posted 19/05/2024 at 08:18:27
Uncertainty has been an Everton hallmark since the end of the Johnson days. It is where the likes of Kenwright, Moshiri and whoever is behind him like to work. Normal procedures are broken down and yesmen or loyal employees come in.

Evertonians were fed "The People's Club" sop and still are. That is where the money is made, that is where everything is ripped off to their benefit. In Everton's case, there are layer upon layer of this. It is the internal culture of the club. It even now goes beyond the club.

All Evertonians have some knowledge, whether it by life experience, professional insight, or a combination of the two from ToffeeWeb articles and posts, resulting in scrutiny that has resulted in a worldwide media investigation covering football, the financial system both onshore and offshore, gangsterism, and celebrity.

So you have a combination of factual analysis with not all the information and others calling a spade a spade as they see it. Really what is happening is a number of parties are trying to get on the inside track to capitalise when the opportunity materialised. It is an assumption that they know what they are doing, which Evertonians are learning as: "Don't assume, because, if you assume, you make an 'ass' out of 'u' and 'me'..."

So therefore factual analysis without all the information, calling a spade a spade, and assuming they know what they are doing is not the reality of what is going on. The reality is Everton is caught up in many big money laundering operations, with a seemingly unlimited supply of money, trying to find its way out into a number of people's pockets.

Deadlines will come and go, parties will come and go, administration will be put on the long figure (pushing for administration not knowing the facts and who owns what is a no-no), and regulators are powerless, even when one like Masters allows himself to be wheeled out. We will never see or hear from the lady who is Chairperson of the Premier League.

So the madhouse will continue on its merry way into the coming seasons. We will all become veterans of relegation dogfights, points deductions, takeover fatigue, missed deadlines, meaningless PR, factual analysis without all the info and 'ass-u-me' – and Everton have not been in court yet! You all know as much as any of the related parties involved and collectively more.

It will all work out for the best in the end. Keep going, you are all doing a great job.

Jerome Shields
57 Posted 19/05/2024 at 12:34:54
Mihir #49,

The Premier League does not have a big stick.

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