777 Partners co-founders resign their positions

Interesting that The Eskis saying that Everton will have to pay 777 Partners all their money back, so maybe this is what has kept Moshiri dealing with people nobody wants?

Whoever is trying to purchase Everton must be going through some negotiations, so hopefully Alan Myers is correct and we have got a few people who really care about Everton FC trying to grind a way through all the dirt.

The £6m will help to finish the season but what happens now?

"On May 6, 2024, after consultation with B Riley, Mt Pasko and Mr Wander each resigned… "

This leads me to believe that The Bobble, Paul the Esk, and all the other ITKs have been sitting on this and letting us stew for the last 10 days.

That, or the date is a typo: "On May 16, 2024…"

The new stadium is from a different dimension, it is truly magnificent and hopefully will signal a new era ahead for Everton FC.

Let's hope Masters doesn't pull any more stunts this next week once this season is over on Sunday. UTFTs!

Or maybe, if it isn't a typo, that detail has only just been made public by B. Riley...

777's money loans have kept us afloat; otherwise, we'd have been in administration, unless Moshiri put his hands in his pockets, which he obviously does not want to do ever again.

I mean, where on earth did 777 get over £200M to pay EFC, when they couldn't find a few million to keep Bonza Airlines in the sky? The whole thing stinks and, in my opinion the FCA have had the wool pulled over their eyes for far too long.

Get EFC sorted out, Mr Moshiri, asap and give us a chance to compete next season.

ps: Who finances EFC over the summer?

Hopefully this is the last we hear of 777.

Have they now left the board of the company as a whole?

There's every chance that 777 couldn't fund Bonza because the money was filtered into the Everton accounts. That's how a Ponzi scheme works.

I'm trying to find when B Riley were first mentioned in dispatches, but I thought it was after 6 May?

Yes, seems like it was 10 May:

777 hire restructuring experts

There seemed to be some confusion then as to which board Wander and Pasko had departed. Perhaps only now, nearly 12 days after the fact, we are getting a clearer picture?

In all seriousness, the situation at 777 is really quite fascinating. I'm intrigued to see if B. Riley can navigate the firm out of this without it all just imploding under the weight of all this litigation.

It's obviously of enormous interest to Everton given that we're in hock to them to the tune of a couple of Jarrad Branthwaites.

Again, if there's anything of substance to the many allegations against 777, it won't reflect well on Richard Masters et al at all.

I don't know anything about B Riley but presumably they wouldn't take on this Ponzi monster if they did not think there was a real chance of rescuing the utter shambles that Wander and Pasko have left in their wake?

And even if they did, the monster is so much bigger than EFC, so it probably means little in terms of whether the apparently doomed take over will survive this latest Richter-scale quake…

Moshiri has a money black hole that's getting bigger all the time if he can't find a buyer.

It seems obvious that he's going to have to take a big hit to sell the club.

Entirely by coincidence! Nothing to see here, just a quick news blurb right before the weekend.

** sarcasm so thick my stomach involuntarily empties of its own accord.

These absolute weasels are shocking in their lack of any ethics. The world is a playground to be manipulated, especially via monetary gain woven with deceit.

Michael, I know you're not a religious man, but is a tiny bit of you hoping there is a heaven and hell, and these fuckers roast for eternity?

"Looks like I picked the wrong week to stop sniffing cocaine!"

If the lights go out on construction at Bramley-Moore Dock, now you know why. £200M, if this 777 takeover of Everton doesn't go through, will be demanded back – otherwise, some baseball bats and some shaking knees might have a joint encounter.

It is only when a professional organisation with an equity interest and known expertise in restructuring takes control that serious restructuring will take place. Anything else is just pure bullshit.

Maybe it's because 777 Partners have got some type of contract that good news keeps getting pushed back but football is like the fingers of the watch on my forearm and never stops moving forward unless the battery runs out, so things need to start happening very soon.

Early in June is the latest news but I don't know how many times I've heard a date that has never materialized over the last few months.

And if Josh knows anything, it's his lines.

How Masters hasn't declared this rabble to be undesirables by now is ridiculous.

Mind you, he okayed the Saudis, so who knows where his moral compass is?

666 more like it.

777 Partners can demand their money all they like – take a number and get in line.

Why would there ever be a queue of prospective buyers when we're already in a sold-subject-to-contract agreement, which stops any prospective buyers even doing their own due diligence.

Colin Chong himself has said that they've been approached by more than one interested party. One of whom has had further talks with prominent Evertonians who are trying to facilitate a better option than 777 Partners. Now, even MSP may be able to step up too. So, there are options and 777 are not one of them.

So without him it's adios, 777?

Sort of makes Moshiri's next move made for him.

Being a supporter for 52 years, what's happening to our club is beyond me. This guy's neglect of his duties as owner of the club is bordering on criminal neglect, surely a class action against him for this to recover money lost after all he chose to be owner of Everton FC.

I cannot believe we are still thinking about 777 Partners when their business is crumbling around them and so are the clubs under their control, the one time I can say Thank You, Premier League.

Moshiri knowingly broke rules regarding financial issues (strange when he is a successful accountant) and now he wants to give Everton to a company facing bankruptcy themselves. Once again, strange given his background…

Is this his way of paying back supporters because they didn't like the way he was running the club?

With Coke Boy and Robin out of the way, surely there has to be another buyer???

And surely Moshri won't be waiting around until the end of May to find a buyer?

The sale of the Club has to be announced to another party early June and the actual sale has to be executed by the end of July. We can't have uncertainty and chaos going into next season!

Much has been assumed that they sit at the back in terms of security, but £200M with no security attached should the bid fail? Can't see that tbh, does the debt convert to equity? If so how many shares? What are the terms associated with the debt?

What happens to the debt if / when 777 go to the wall? They will be desperate to get their money back, so what leverage do they have? What's their end game to get out of Everton? Will a deal be done?