Deadline day dawns for 777 Partners and their Everton takeover

Our fortunes have to change surely!

As I have said many times, it is the fans who suffer the most, as these money people don't care about anything, other than profit or limited losses.

Also glad that 777 have not miraculously come up with some more money from nefarious sources. Moshiri wouldn't give a blow on the ragman's trumpet if that were the case as long as he came out of it with what he wanted. A situation that he has been a party to, and I include all the wasted money in that self-created money-pit !

If we can just carry on with some funds, savvy investments on players who will make a difference. Continue with Sean Dyche, who has worked minor miracles, and escaped relegation twice (second time comfortably) in a mess that was not of his making. Fair play and all due respect to him.

At present, only Textor has thrown his hat into the ring, but for him to have any possibility of him striking a deal, he must first sell his shares in Crystal Palace which I believe he has been trying to offload for a while. Whether there are any other possible buyers out there… who knows? But with the massive debt the club is in, it's not a very appealing project.

Finally, if Moshiri finally accepts the deal with 777 is over, it proves that what Paul the Esk said from the outset that they were not the owners we needed was spot on. I know many criticized him for being a merchant of doom, but however unpleasant reading his posts may have been for some, he and Phillipe Auclair and Josimar were the lone voices at the beginning to say stay well clear of 777. Just a pity our owner didn't listen to their advice.

It's clear that 777 Partners either cannot or will not be able to meet the conditions put in place by the Premier League so now has to be the time to move on and meet with other investors and potential owners.

Let's hope there are some serious contenders lined up to do business with to get this sorted once and for all.

Then we can put the past 8 years of this ownership behind us and say thanks for the stadium at least.

Chelsea FC was the biggest laundry in the world. Anything Usmanov touched reeked of Daz. As there is no end in sight for the war, it looks like this will continue until funds can be diverted, possibly via China or the Middle East.

I may just be making all this up. And for that I apologise, as I am not a card-carrying member of the NUJ, so I should stick to facts.

Roll on August and the footie can start again.

There is absolutely no reason not to... no excuses to hide behind.

And we all lauded him when The Maggot first introduced him!

I'll be dismayed to hear that an extension has been given.
This is Moshiri's time to try to shine. He's delivered on the stadium front and so I can only hope he finds us a multi-billionaire investor, someone with deep pockets and some sort of real interest in making us a force in football once again.

I can but dream…

Unless there are others out there, I think MSP will part-fund, until Textor can sell his shares before taking over at Everton.

I really hope we get Textor, he seems to know what Everton is all about and will want us to be competing again. He's a far better option than someone coming in with no knowledge of football, thinking about pop concerts at the stadium and what players they can sell to fill their pockets.

Textor for me looks our best option.

His remaining holding is worth £300M so he is not down to his last penny.

He currently only has 45%. He will probably get the other 6% so he doesn't leave Palace. Another waster.

I very much doubt we'll hear anything today, though I live in hope, like the rest of us long-suffering Toffees.

Strange but perhaps understandable that all the reports are calling it "Eastern Standard Time", which is not correct. The Yankie equivalent of British Summer Time is the rather bizarre concept of "Daylight Savings' as if this clock adjustment somehow changed the amount of daylight in the summer.

But the correct term is "Eastern Daylight Time" (EDT).

He was right however to say that any updates would be reported on here as soon as possible. I hope this promise is going to be kept as a lot of us rely on Toffee Web in this respect.

In all honesty, it was a gift to convenience store lobbyists who demanded their clients be given an extra hour to sell soft drinks and other summer delicacies. They sell a large percentage of those drinks just before sunset. It's true.

You have enlightened me.

I have been over here for 20 years and have always considered EST to be the time zone never realizing EDT is for the summer and EST is used in the winter.

Kinda makes sense in a strange way.

1) He gets Premier League approval to own both sets of shares at the same time pending sale of Palace shares. The Premier League would provide oversight during the process.

2) He finds a buyer for his Palace shares.

3) He gifts or sells the Palace shares for a nominal fee to a third party such as a business partner or family member. Again Premier League oversight would be required. (Isn't this pretty much what Moshiri did with his Arsenal shares?)

4) He gives his Palace shares to A-Cap or 777 Partners and wipes out the 777 debt to Everton and takes control of Moshiri's shares.

Or so I've been told by someone way smarter than me.

NB: I.misread the story update as though Moshiri granting 777 a further extension, maybe because of my bias and scepticism of 777 and Moshiri.

PTE it was who early doors expressed deep concerns about 777 and dared to suggest that the deal might not go through. Still, some on here went hunting high and low for any inconsistency or God forbid error in anything PTE wrote across the full extent of our club's financial and administrative affairs. Some dwelled on his sources or lack of or dodgy nature of. When they themselves were nearly always talking in the dark.

And, if anything was found, it was joyously trailed on here as clear evidence that PTE was habitually unreliable in writing that was indelibly rooted in the thinnest of ice.

PTE has often been treated disgracefully or mockingly or tartly on here (by some on this thread, in fact). We ought to be grateful that he still posts on here.

So, at 11PM Chicago time today I can at long last pop open a bottle of something and breathe a deep sigh of pent-up relief that the real “shite” here – 777 – no longer have their filthy and sleazy hands on our club.

But that is one fallen horse. There is so much more that needs to be done to get us through this long hot summer in shipshape good order. We need a respectable owner, sound financial acumen, top-drawer bargaining skills, and so much else besides.

The ignominious exit stage right of these disgusting Florida charlatan capital vultures is only – sadly - the necessary first step.

You called it!!

We're still in this; there something fishy about the entire situation and the press will never let us know what's going on, so thank Cod for ToffeeWeb; as usual, Everton is failing to substitute 777 far too late to make any decent impact.

No rumours I have seen anyway, apart from the Palace guy.

On Josh Wander's neck.

Features·31 May, 2024

Black Friday

All of the football clubs in the 777 Partners portfolio are up for sale. But the full scale of the colossal debt burden at Genoa will be a concern for potential buyers, and where does this leave Everton?

By Philippe Auclair and Paul Brown

Genoa Cricket & Football Club was always presented as the star pupil in 777 Partners' unruly class. Bought in September 2021 from Enrico Preziosi, the ‘colourful' owner of Italy's biggest toy manufacturing company, the ‘doyen of calcio‘ was in such a difficult financial situation that it had only cost one euro – not 178 million dollars as was reported at the time – for the US investment group to acquire it. The catch was that they had also inherited the colossal debts accrued by Genoa under Preziosi, who'd got rid of a problem as much as of a club when he opened the door to 777 Partners.

That is a likely scenario.

I hope so, but latest reports say they have made a late claim on Pablo Escobar's Estate. :-)

That's all well and good, just as long as Moshiri gets his cut.

I'm not sure why we expected anything else from our "heirarchy". It's like one of those dreams where you're running in quick-sand.

Thankfully there was no live forum anyway. Every fish pun has already been done (like a kipper).

The frustration continues...

I live in hope and with everything crossed. Have a good day, wherever you are, keep the faith. UTFT's

No doubt 777 Partners will want their money back, depending on the terms and conditions of the loan agreement.

Moshiri's phone must be red hot this morning, as he rolls out of bed to get a bacon bap. Interested investors will be lining up to get a copy of our prospectus, just like Dragon's Den on steroids.

Just waiting for the ‘crisis club' headlines to start appearing, but hoping for something more positive.

Then I guess it's up to Moshiri whether to keep throwing in good money after bad or let us fall into administration which will clarify but at least end his losses?

You must be in Breamland if you think that you'll avoid fish puns today.

Textor is also said to be in the frame, but I would prefer corporate specialists like Blythe Capital and MSP Sports Capital. The era of the billionaire in football is on its way out. But I would not put it past Moshiri and his associates to complicate things for the worse.

How Everton's 777 takeover collapsed

Confirmation at last. Just what we have been waiting for…

Oh no, wait a minute… check out who's name is on this piece.

Drums of peace, war or simply the rumblings of a dying giant? We shall soon find out.

I love this. It's like that line out of Hitchhiker's Guide where the dolphins say "So long and thanks for all the fish'. Very apt for ToffeeWeb.

On a more serious note, wouldn't you all just love to see the sale agreement and see where we stand with their debt? Was there anything in there regarding (immediate) repayment of funds in the event of the deal failing? 777 Partners would have been mad not to include such a clause. Moshiri would have been mad to accept one, since it very likely forces administration.

I'm going to go with the latter and wonder whether Moshiri might not have played a personal blinder by getting someone else to fund his asset for so long, when he was unwilling. It is possible he has played them like a fiddle.

But apparently we are still roughly £100M short of completing the new stadium at Bramley-Moore Dock and I suppose the acid test is going to be whether work now stops or not.

Says nothing regarding the status quo or of any other discussions with interested parties.

I feel like a mushroom.

But we're still in this. The good news is Moshiri is back in the driving seat, so we're in good hands.

In the meantime, stop stamping your feet in frustration because you don't know everything you feel, incorrectly, that you should.

This is how things work! 😁

"The curse [of multi-club ownership] must be fought by fans the world over."

If I had a spare £100 million, I would put it in.

Only worry about the stadium work stopping when Pat through the driver side window in his white van tells you he is heading down to Bramley-Moore Dock to lift some tools in lieu of payment for work he done.

No, No, No. We want it to operate as a professional business. Normal is what got us into this state, for fuck's sake!!

Come forth all Royle Blue Guardians and save us… Please!

Loved the line from Mark Taylor (64):

"So long and thanks for all the fish", though in our case, it was the Mersey Gold Fish that said it. We are kindred spirits, Sir.

Talking of the new stadium…….although I doubt there are many sea-faring souls on TW, this coming Monday, 3 June, the latest addition to the Cunard Shipping Company, the Queen Anne, is in Liverpool for her Official Naming Ceremony, taking place at the cruise terminal, about ½ mile from Bramley-Moore Dock.

There are going to be literally thousands upon thousands down there for the event, and hopefully many will take the short walk up to Bramley-Moore Dock to see our majestic new stadium.

Even this morning, the American cruise ship The Regal Princess with over 3,500 passengers on board arrived in Liverpool, with the first thing they see being the new Everton Stadium. It's going to be absolutely stunning when finished.

Those twats would have destroyed us, forget the show you loans. Masters and the boys and girls from North Wharf Road utterly failed on due inspection. This might be Moshiri's finest moment but that absentee slug slime landlord needs to be expunged from our history - he is hoping against hope to get decent sponds back.

Life/we feel better now. The first battle of this long hot summer has been won.

The Esk was right all along wasn't he Michael, Kieran, and the rest? Who spoke "shite" when all is said and done?

Exciting. The stadium. The return of ocean-going liners. I'll be just a wee bit cautious of the wash from those liners as I approach the new stadium.

It does make sense that, Usmanov being Everton's secret owner. Look at this BBC report from 2017:

Paradise Papers: Who is in control of Everton?

Look at the word "gift... to invest." A loan would be in terms at the time.

Moshiri has also not said in that club statement he is taking control back of our club. Moshiri was previously Usmanov's accountant. Now it is well known companies put assets in people's names, such as relatives or employees to protect situations.

When Moshiri was cross-examined by Panorama, Moshiri tried to gaslight the interviewer. I work in the court system and have seen this gaslighting used by professionals. Moshiri responded, "Do you need a psychiatrist?" Or, in other words, not responding to the question but using a distraction, a type of non sequitur.

Time is ticking with the summer transfer window.

I have come to the conclusion that Everton Football Club is indestructible.

Just like a tree that's standing by the waterside………

Jeez, we need a bit of luck off the field as we've recently had on. Fingers crossed we can move forward instead of backward.

John Textor to launch official bid as 777 fail to agree deal before deadline

We can't look at like Everton as it is now. We're an historic team with titles and now with a new stadium for concerts, and on a heritage site.

We don't want another drawn-out affair. 3 or 4 new signings would be good to start next season in a much stronger position providing we have new owners soon.

777 are behind the queue. Apparently it's only an unsecured loan, ie, not attached to any of Everton's property. Only MSP and the other main one have security interests against Everton.

I can see Everton making payments to 777 here and there as 777 will have put in a clause for payback if the takeover doesn't go through.

It's not even 777's money, so those other third parties will step in to try to get their money back. MSP etc are first in the queue, and MSP to tune of approx £150M.

If 777 go bang, a liquidator will be appointed and he will chase the debt due from EFC.

New owner or no new owner, we probably have to sell some player(s) to stay within P&S rules; however, I have argued that in some circumstances it would be better to fall foul of the rules, particularly, where a new owner comes on board and puts the long term finances on a sounder footing and where clubs are trying to purchase our players at grossly undervalued amounts.

We are the gift that keeps on giving!

Who amongst the management believed that 777 would come up with the money by this morning? If they thought that, then they are not fit to be directors or managers.

They have lost 3 weeks in this process and should already know what they were going to do this morning and be on the phone at 8 am this morning to those parties who have expressed an interest to Moshiri.

Stop it, Christine, you are a very intelligent lady, so you know patience is needed now. You are not a mushroom you are a bright new seed getting watered daily from now on and soon you will flourish, blossom and bloom and be lovely to look at and be admired — same as you the club you love.

Patience is a virtue, as you well know, Christine.

I do still think something will be put together though to keep the club on the road, not one owner but several with parts of the club.

John @ 92, the new stadium will bring in extra money as opposed to Goodison, but I wouldn't overestimate how much when compared to our outgoings.

Oh well, I'm tired and so weary
But I must go alone
Till the lord comes and calls, calls me away
Well the morning's so light
And the lamp is alight
And the night, night is as black as the sea, oh yes

There will be peace in the valley for me, some day
There will be peace in the valley for me, oh Lord I pray
There'll be no sadness, no sorrow
No trouble, that I see
There will be peace in the valley for me, for me

777 Partners are dead in the water.

I guess the next question is: What is Plan B?

It seems to me Moshiri has been playing for time. I suspect he knew from the outset 777 Partners were unlikely to meet the Premier League's conditions. From his perspective, the nearer we get to the completion of the new stadium, the more value is added – along of course with the spiralling debt.

We have been in a state of limbo for many months. That looks set to continue for many more months. Even if a deal was agreed today, it would be probably September before the purchase could be approved by all the relevant authorities.

In the meantime, I suspect there will be as many rumours about players leaving as there will be about new arrivals. That concerns me more than anything else at the moment.

Plan A was ropey enough. You know better than to expect Moshiri to have a Plan B…

This fella doesn't know how to run a club but he has taken 777 Partners to the cleaners as they have forked over millions to pay the bills for him and now are unsecured waiting last in the line for money; Moshiri will never repay them.

Anyhow, let's not get too carried away with 777 dropping out, there's probably worse to come knowing Moshiri.

We would often look at each other with alarm, before then having to go and convince the lads it would be okay.

But having our own Plan B in the back pocket. "No plan survives contact" as the saying goes.

We don't know, and we never will, what the agreement between Moshiri and 777 Partners was but, if they put money up front to the tune of ~£200M without securing it in some way, you are 100% right. In that case, Moshiri has conned those who con. Quite an achievement, me thinks. How that will pan out is still to be seen.

I fervently hope now that we have got rid of their potential curse that we are able to move on with a proper owner. As I said earlier, on this or another thread, we will only know if he or they are "proper" in the fullness of time. We will have to keep our fingers, and whatever else, crossed.

No doubt all those tourists coming in on cruise liners and seeing our magnificent stadium will be saying to each other "We must go there to see Liverpool play!!"

Can you tell us what you mean by a bond against the new stadium?

If being tethered to 777 Partners for the past season has ultimately resulted in funding the continued construction of the new stadium at Bramley-Moore Dock while also keeping the club from entering administration, then it has served a major purpose.

Hopefully Moshiri or Usmanov will have a new exit strategy that does not threaten our future survival.

My worry is that, without a motivated buyer stepping up now, and with 777 Partners no longer funding the club's running costs and stadium build, a deliberate fire sale of players might be the only way to generate the money required to survive this season.

And then it'll be a case of collectively crossing our fingers and hoping that Dyche etc can manage to somehow secure our Premier League status for another season so that the 2025-26 season can begin in the new stadium at Bramley-Moore Dock. With the stadium delivered, alongside Premier League status, Moshiri or Usmanov might believe that the club becomes a much more attractive proposition.

It's a huge risk, but I could at least see the logic. And I have no real idea of the finances but it might mean that Onana, Calvert-Lewin, Branthwaite and Pickford might all be sold this summer, as the club could need as much as £200M to fund next season's running costs and get the new stadium across the line.

I don't believe Moshiri conned 777 Partners as how could he have known they would be sued and face fraud charges etc? If anything, they're more likely to have conned him than the other way around.

Sounds very passionate and wants success and not just a quick killing, attends fans parties, gets right in with the supporters…

Jesus, let's hope and pray he sells his shares at Palace, he has won me over.

Oh, I see Danny hit that @104. Sorry, just woke and saw the news. Onwards, find a new, solid, ethical buyer.

"A deliberate fire sale of players might be the only way to generate the money required to survive this season"

You'll have the club hierarchy getting angry again with that kind of talk!

Has Moshri been working behind the scenes on a Plan B?

Anyone with half a brain would be on the horn, lining up options. If we go a few weeks without offers or interest, I'd argue it's time to hit the panic button.

Talking about the close relationship that Cunard have with the River Mersey and the City, it would be nice if Moshiri or the new owners could persuade Cunard to take over the naming rights for the new stadium, they are not short of money.

As I have said before, when you sail into Liverpool, the first thing you used to see on the horizon was the Liver Building, you can't see this now as there are apartment blocks in front of it. This would give Cunard or any other interested company the chance to have their own ?Royal Blue Horizon Stadium?

Just a thought to lighten up what is going to be a turbulent couple of weeks or months of ridiculous statements from unknown sources of new ownership and the in and out of players from people calling themselves sports journalists.

I doubt if we could get any worse ownership than what we have, or nearly had, so here's to a better future to make your away trips better.

He's like an old woman (Les Dawson) with his constant yapping.

The Cunard Stadium. I like the sound of that.

Our new ground, like you said, is going to be a sight to behold.

If I owned it, I would be putting tours of the ground for the passengers and fancy meals with entertainment.

It happened to some extent at least to Newcastle, Man City, Aston Villa in recent years. The very very very wealthy may have other motivations than profit.

Have Saudi pumped so much into boxing to make money, or to have some reflected glory, some more positive spin on their apparent despotic regime?

They are in Newcastle's corner, but there are others, aren't there, from that region and others? Sad state of affairs really, but desperate times call for desperate measures, I guess.

Kenwright sold us out to allegedly very dodgy Putin-linked geezers, with allegedly very questionable backgrounds and source of funds. Now, those same alledged miscreants decide our next custodians. What a state for our once 'Bank of England' club.

"Onwards, find a new, solid, ethical buyer " — no such buyer exists...

They might be more ethical but I doubt many if any are solid and ethical at all.

The LCC could sponsor it.

It looked like 777 had the capacity to outdo Moshiri and Usmanov in the calamity stakes but it wasn't to be.

It's likely seasons stretching to the last week of the season will be a thing of the past and a drift back to mid-table nothingness under some middling investor will be the order of the day.

Halcyon days for the melodrama crew, what will they do?

There is no way that we will want the name of 'Liverpool' to appear on our new stadium

Relegate them, give their upcoming new stadium to Marine FC and force them to re-employ Cry Baby Fat Frank Lampard as manager.

Problem solved! Thanks for the brilliant idea, internet warrior! 😂🙄

"Ethical" is subjective and admittedly strewn with hyperbole / exaggeration / pick a word.

But there are people out there who fit this description.

Fenway Sports Group
Ryan and Rob
Tony Bloom
Daniel Levy (not my cup of tea but has been brilliant honestly)
Kroenke (Arsenal are run fantastically IMO)

They are indeed out there. The issue is when your current owner wants to flog off the Club you love to a hellscape Ponzi scheme outfit, you are on the surface fucked.

Just pray someone comes forward who runs a company the right way.

We should probably sack them.

Well played m'man, well played.

I have a great idea for the stadium name:

**insert biggest company that wants to splash disgusting amounts of naming rights dosh** Stadium at Bramley-Moore Dock.

I don't give a flying fuck what the stadium name is. I want someone to pay through the nose for the naming rights.

However, when we passed the new ground, well I can't put in to words!

Fuck it though, The City of Liverpool Stadium for me. Let's take it back.

Good energy and great, or should I say ‘perfect', spirit. ;) and the damn text editor is removing one of my horns so I’m spelling it out: Troo kvlt horns maaaan.

Arguably there's not much of it left in football these days!

Simply put, some type of insurance. I can't see a developer taking on a project of the Stadium's size without some type of insurance in place.

I know that Councils require any builder to have a bond. It would be a requirement to get any contracts. Moshiri or Everton would need to find underwriters for such insurance.

'As a developer, having insurance to cover the building of a Stadium in a rising building cost scenario can be crucial. It helps protect against unforeseen circumstances such as cost overruns, delays, or other issues that may arise during construction. It is recommended to consult with a legal or insurance professional to understand the specific requirements and best practices in your area.'

AI

This goes two ways. All the current creditors get jumpy and begin to accept they are not going to get 100p in the pound, especially Moshiri, and indicate as much, so a white (or even black) knight can appear.

Or Moshiri kicks the can down the road, sells all our best players to fund the stadium completion, and gives Dyche half of the Arteta money to re-build.

My money is on can kicking. You have to say, it's the one thing he's world class at...

It is the ones who are lower in the pecking order who will be motivated to work out some kind of deal. Since Moshiri stands to lose the most, then the ball is in his court.

A lender would also make it a condition of loans that adequate insurance is in place.

Legally, it is a requirement that directors of a company make sure that adequate insurance is in place.

"I work for Cunard."

"Yes, but who do you work for?"

Relieved to see the back of 777 Partners; hopeful that Mr Moshiri and/or people at EFC are or have been keeping in contact with other possible purchasers or investors.

He has a poster of Alan Ball above his bed and whispers, 'Once Everton has touched you, nothing will be the same' in his sleep.

"The Club will continue to operate as usual..."

Oh, shit.

And Paul, and Paul, might that mean they are also in talks of getting paid here?

Stabilising the club financially probably means selling Branthwaite and Onana and spending no more than 50% of the proceeds on new players. It also means keeping Dyche at the helm, given his excellent track record.

I would be surprised if our new owners, whoever they may be, do anything radically different to this.

We could change hands a few more times yet before there's a broad consensus that we have owners worthy of our club.

You raise an interesting question. What is a 'secure' loan?

If we are to believe what we read, I guess you would argue MSP's is the most secure because it is(albeit not directly) against the stadium and 'only' £150m. As for the others, as you say Moshiri is very exposed and possibly, most likely 777 are too. As for R&MF, although they have a floating charge, I gather theirs is principally secured against future EPL broadcasting revenues. Given our performance over the past few seasons, that is not something I'd be wanting to take for granted. It certainly isn't a sure thing.

I've often mused on here, what is the real worth of the club (minus the extraneous real estate which Moshiri appears to hold seperately)? Debt free, I'd say in the region of £500-700m. So essentially the equity value is close to zero, or even less than zero.

There is talk of debt re-structuring and that is certainly urgently needed. Often it takes the form of debt for equity and I think that might happen here, giving current lenders, who after all are applying a sizeable risk premium for their loans, to at least be able to retain ostensible value, pending the sale of the club following a re-structure. I think Robert may be correct, this will be a drawn out process and require those currently in the tent sorting things out between them before anyone comes in for the longer term.

On our facts, there is registered security by R&MF and MSP by way of land charges (a bit like a mortgage). The first to register has first say, and then it's MSP, whereas we're told 777 Partners were not allowed a secured loan, probably by R&MF.

777 Partners either really believed they could pull off the takeover or there is something else in the contract terms to benefit 777 Partners and/or their money-men do.

Why would 777 Partners just continue to pump money in and then even pumped another £8M… why? 777 Partners are probably the largest shareholder.

A court has power to convert 777's loan into equity and it wouldn't surprise me if 777 Partners (or a third party financing them) have a clause in the contract for some type of part ownership rather than claim money back.

I still like the sound of the simple Everton Stadium.

But I guess we'll have to go with naming rights and sponsorship.

It was said at the time that investment groups in America were showing ‘genuine interest' in Spurs and that appears to still be the case, with MSP Sports Capital allegedly in talks as we speak.

1. Funding the debt, the remaining stadium build, and ongoing football activities; and

2. Averting the inevitable P&S breach that is coming with the accounts for the year ending 30 June 2024.

I have no doubt that there will be parties out there interested in acquiring the club. However, I'm less confident that they will be prepared to invest ~£1B to clear off requirement #1 above. Therefore doing a deal will inevitably necessitate:

a) existing lenders taking a haircut, or
b) at least taking on some element of longer term risk, or
c) selling players to reduce the debt burden, or
d) a combination of all three!

However, even if the ownership gets sorted, this can't possibly be a way to solve the P&S problem; no amount of cash investment into the club will create profit to bring our trading losses into line with P&S regulations. Therefore, regarding P&S, we are left with one of two alternatives:

1. Sell enough of our prized assets (players) before 30 June to bring the accounts into line (and provide a funding line to repay part of the debt which should make doing a deal easier); or

2. Retain those players and accept the breach of P&S regulations and the inevitable multiple points deductions that comes with it.

Of course, both of these alternatives are a gamble. Can we survive the season:

1. without those players, or

2. with those players but with a points deduction?

It would be interesting to hear what folks would prefer?

I've heard a rumour that R&MF are receiving 18% on a loan which is allegedly around £50M. If this is anywhere near true, then that loan alone would be costing around £9M per year.

Absolutely incredible if true, although there's been a lot of this type of rumour flying around over the last 6 months. If it is true, then I expect they will be playing hardball whilst trying to keep this loan going for as long as possible.

You're trying to right a crown jewel in the Premier League. Why should you inherit the sins of previous ownership?

It is due, regardless of how it was structured, and it doesn't matter if the loan is secured or not surely. There is still a legal obligation for Everton to pay it back, unless of course Everton enter administration.

Loans unsecured are repayable and, as it was rumoured that 777 money was keeping us afloat on a weekly basis, how do we pay overheads, wages etc?

I don't think this is as clear as many on here seem to think, but just wish a more in-depth statement would be issued to discuss the loan position.

Everton will continue to negotiate with 777 Partners about their proposed takeover of the debt-ridden club – despite the controversial American investment firm's failure to come up with the money to make the deal happen ahead of Saturday's deadline.

Mirror Sport understands that Blues' owner Farhad Moshiri feels an obligation to maintain a working relationship with the Miami-based company completely after they pumped a loan of £200million into the club last season to prevent serious financial problems.

But 777 Partners are a mess and they can't meet the four conditions they need to acquire Everton.

Moshri will "work with them" but I don't see any way he can actually sell to them?

If the agreement expired today, that's just what it did. But Everton (Moshri) would need to enter into another agreement (contract) to actually sell to 777 Partners.

I can't see Moshri doing that. He'll "work with them", meaning he'll do everything in his capacity to see they get repaid.

But selling to them and entering into yet another contract after they failed to meet the Premier League's stipulations to acquire? Moshri doesn't have that kind of time. He needs to sell quickly I'd think.

I also doubt he'd renew – but this is Moshiri we're talking about!

Everton will keep negotiating with 777 Partners despite missed takeover deadline

The controversial American company missed Saturday's deadline to come up with the money but it's understood Toffees owner Farhad Moshiri feels an obligation to keep working with them – after they loaned the club £200million last season.

That is news to me. I had understood their loan was at either 5% over base or 12%. But it would not remotely surprise me if they had a tranche at 18%.

Like a dying antelope, near drawing its last breath, the vultures circling over it…

Are we sure that 777's unsecured loan is enforceable, practically speaking?

If 777 Partners are broke, how can they afford lawyers to sue Everton for repayment?

Could it be that Moshiri actually scammed $200 million out of 777 Partners that he won't have to repay for years because they are themselves busted out?

And now he's keeping them on the hook for a little more?

Naw... he ain't that bright. But... We know somebody who is.

Mayhap Moshiri got some secret coaching from a certain Us-bek??

"If 777 is broke, how can they afford lawyers to sue Everton for repayment?"

The receivers will appoint lawyers to pursue any creditors and pay them out of what is recovered.

Also, don't forget that £200 million was never meant to be a long-term loan, it was intended to be converted to equity within 12 weeks, hence the higher than normal interest rates.

I assume you meant 777 are the largest debt holder? Not 'shareholder' as they hold no shares.

How can a court order that the debt be converted to equity?

Your last sentence makes sense though only as long as the conversion to equity does not lead them to becoming a majority shareholder as they would then still have the problem of the Premier League's Directors and Owners Test.

There is also the agreement insisted on by R&MF which was conditional before the Share Purchase Agreement was signed.

That would that piss them off and what a spectacle to see from the river...

Another Billionaire and a wild goose chase, something that Moshiri has an affinity for, is not what is needed.

An appropriate banner at the Gwladys Street End would be: 'Get out of the road, Moshiri'.

Farhad Moshiri could still sell Everton to 777 Partners despite latest deadline failure

After all, you only hear of the late payments, missed deadlines, salacious lawsuits... but these guys claim to have around £10B in assets and have continued to fund EFC to the tune of >£200M.

Clearly it's not over till it's over!

Due to the name, Everton, most people I've come across outside of the UK haven't got a clue we are a Liverpool based team.

It's about time we reclaim our heritage. I'll leave the name to the marketing experts on here.

Is it logical to believe that Rights & Media Funding must hold most of the aces when you consider they wouldn't let MSP into the club's boardroom? (I've forgotten the story!) Moshiri, once told everyone that he never even had the power to sack Frank Lampard.

Higher than the devil — 777 Partners might have just been bumped by Usmanov's frontman, so whoever said it was very murky behind the scenes at Everton was probably the only person who has been telling the truth!

I would not be surprised if that headline is true. It would be typical Moshiri the Muppet.

I think you were generous with "Normal is what got us into this state, for fuck's sake!!" Better to say, "Sub-normal is… ! IMO

Moshiri will have to take a very large hit if he is to sell us, it seems; there's no rumours about who might be interested – which is damning.

As usual, we have no idea what's going on, only that it's one big mess.

So as far as he and his boss are concerned, 777 Partners are the only buyers they are willing to sell to, and it seems highly unlikely that the Premier League will give 777 the go-ahead.

The so called board issued a statement thanking 777 Partners for their help over the last few months but the wording of the statement even they believed that the 777 deal was over. So it will be interesting if they publish a new statement regarding what Moshiri has said in the last 24 hours.

I am really curious to see how this plays out with the manager and coaches and players and their agents. Because, from the outside, it doesn't give them any certainty over what will happen in the coming months, and maybe they wont want to stick around in case the proverbial hits the fan in a couple of months when the transfer window has closed, leaving them in the middle of it all.

I suspect Moshiri won't offer any more timelines and will stick with 777 Partners and ignore any possible other bidders, but at some point either the Premier League relent and give 777 the go-ahead or Moshiri has to look at alternatives.

Another £200 million pumped in on the quiet and can only get his money back if 777 Partners get the go-ahead. Doesn't want to lose everything he has staked.

Master's hates us but did the right thing in insisting on 777 Partners meeting Premier League requirements. Let's hope they stick to their ruling and keep these two sets of crooks well away from us.

You're right about the players and coaching staff wondering where all this off-the-field stuff might leave them.

If I was one of the above, I'd would definitely be looking what my other options are in case the worst happens, or if and when new ownership is found and they want to make big changes which affects them personally.

Then if say Textor is able to argue an exception to the Premier League rules for an owner with two clubs in the same league, or even another buyer comes in, Moshiri, Textor or Everton can start making payments to 777 Partners.

Whether Moshiri's or Usmanov's money he's using, he would rather use someone else's for now, it seems.

Another £200M pumped in on the quiet and can only get his money back if 777 Partners get the go-ahead. Doesn't want to lose everything he has staked.

Are you asserting that Usmanov funneled Everton ￡200M through 777 Partners and the only way he will be repaid is if 777 acquire Everton?

Is this conjecture on your part, or did you actually read this "rumored scenario" on the internet? If you read it, could you provide a link please as I'd like to read it as well.

Your scenario appears to me to be a click-bait concoction by some outfit on the internet. I'm not trying to be combative here, please understand. I just can't see this being reality and would love to read the article asserting this landscape.

I am not fussed who takes over from Moshiri as long as they run the club properly and successfully – unlike the two muppets we have had for the last 7 or 8 years.

The comment that I posted is simply my opinion and is not a click bait article.

Have worked for a multi multi millionaire accountant who was as crooked as they come.

He also frequently and desperately kept his hand in deals that were nonsensical in order to recover money that he had invested in businesses in which some, ultimately went down the pan.

Somebody commented on another post related to this subject last week when I implied the same thing. It was put to me that 777 Partners had legitimately raised £200M through their re-insurance businesses.

Why would a company worth $10B need to borrow £200M and be unable to meet Premier League requirements?

Better still is who who would lend them £200M having failed to complete the buyout over many many months as they had promised but failed to complete as they did not have the money.

Will the truth come out eventually?

I only offer my thoughts and opinion as most of us do on here. No intention to deceive or click-bait readers.

I think you are closer to the mark than you know. I read your message and it makes sense even if it is simply supposition.

It has to be murkier and darker than we know. I just hope we get some good news soon. God knows we all deserve it.

I've been saying for a while there is something fishy going on with 777 Partners and sticking with them, again only my thought with no proof or rumours, but I would not be surprised if Usmanov has been slipping 777 Partners some money, but I will go a bit deeper into it.

If and when the war in Ukraine ends, there is a possibility that assets that were frozen may become available again. Could it be 777 Partners are looking after the assets until Usmanov can reclaim his assets in Everton back?

I know many will say "Not a chance" and possibly be right, but it does not stop a person from having those possibilities in their head and wondering for so long why 777 Partners and no other buyers were allowed such a long time scale.

Seems strange the moment the invasion began and assets frozen, we suddenly were struggling to make payments without loans for the stadium and the day-to-day running of our club.

You may be nearer than you think John.

Thank you very much for the explanation and cheers.

I'm hoping 777 Partners is completely out of the picture, sans repayment of their ￡200 million. If we enter back into some acquisition agreement with them again, I think I'll cry.

Cheers.

John Hall probably reads it the way I do, that someone is specifically bankrolling 777 Partners for the purpose of buying the club as a means of continuing an investment that was curtailed by government sanctions.

I would say that, having worked for different multi-millionaires in senior capacities as well, they appear to have a totally different perspective to risk, or compliance.

Usmanov was allegedly Moshiri's financial backer to acquire the club, remember they tried to do the same at Arsenal. That failed, and who is to say that 777 Partners was not just a means to an end?

What we do know is that Usmanov and his companies were prepared to legitimately pump millions into the club and, since the sanctions came into place, Moshiri's money and support has dried up. Or is that just fluff, not the truth, smoke and mirrors, we all assume that's Moshiri's end game.

I don't think it is. I think he will retain a significant wad of shares, the rest going elsewhere as planned.

Why has Moshiri persisted with 777 Partners? Who has kept us going when it's clear that 777 Partners had no funds for anything else in their business? No security?

Has 777 Partners been just a front for Usmanov to "support" his mate with the long-term view that sanctions won't last forever and normal service will be resumed eventually?

One last point, to Tony's RM&F loan rate of 18%, I heard the same last year, when MSP got knocked back, RM&F are loan sharks not wanting to do anything or allow anything to impact their extortionate business model.

We have such a lot to thank the world's greatest Evertonian, the music man of money and the man behind Rocky for.. the foundation of wealth creation through offshore predators.

The gift that keeps taking...

You both have experience in this, and I don't. I run a very small family business. So you've opened my mind to the possibility of 777 Partners being a "filter" of sorts for our Russian backer Usmanov.

My only question: how in the world does a Russian Oligarch have ties, good ones apparently to be dealing in this sort of money, with a Ponzi-style firm based out of Miami, Florida???

Oh fuck, that doesn't seem unlikely, does it? 😂

Shady folks swim in schools. God help this club.

It would not surprise me if the £200M backer for 777 Partners to front a purchase, had strings attached to their loan, should it fail.

ps: Jamie... people with that level of money hate to lose... they don't care about sanctions, they use fronts and others to get around them. It's just a game of chess.

I, like Mark, read your post and came to a similar conclusion.

If we enter into an agreement with 777 Partners again, find the nearest cowbell and ring it as loudly as you can. And John can find a gong and give that thing a good pop. I agree with you.

I was just thinking, does anyone ever ponder the morass of disgusting wealth that some individuals in this world have, and how many of those people have exceedingly dubious standards and zero ethics? It's frightening how many of these power people have made greed, materialism, and wealth their god.

And they hold so much control and influence over the proletariat.

It's gotten so bad since the '70s quite honestly. It scares the absolute life out of me when I think about it.

Yourself and John have reassured me it is not just me thinking something is lurking with Usmanov and 777 Partners and why our funds have suddenly dried up on day-to-day costs since the sanctions on Russia came in.

It's all about difference of opinions, we cannot all agree, ask posters did man go to the moon in 1969? Some will say Yes, others No… but without proof neither can say they are right, it's just a matter of your own opinion, and that's why I think Toffeeweb is great, each can have different views, but it is being an Evertonian, we can all agree on that.

The doors to hell were opened by the greatest Evertonian when he got into bed with his shadow directors, offshore funding, and selling to Moshiri with his friend.

Like Pandora's box, the lid can't be put back on... this has to be played out.

I sincerely hope not, but have a Fire Bucket earmarked so I can bury my head in the sand till sense and sensibility prevail!

I think it is a case of Moshiri keeping them sweet, the money they have passed to Everton on a month-to-month basis has kept our club ticking over. He cannot say they were shite and we do not want anymore dealings with them; if we did, they would be screaming for their money back.

I am hoping we get Textor from what I have heard about him and his ambitions for a successful football team.

Perhaps this is why the club issued the bizarre statement about all being stable from a financial perspective?

I hope you're right and that's the extent of it. Until John and Christine posited their theory, your take was exactly my take.

But I'm old enough now to listen to just about anyone, and if they make sense – and John and Christine do – I give what they say credence.

Neil,

Is there a single person, a single one, on ToffeeWeb that wants 777 in charge of Everton? Honestly, I haven't read a single person hoping they take over.

In the beginning, when some of us weren't happy and skeptical at the very least ranging to "fuck no", there were a few "let's wait and see" calmer heads on these pages.

But I can't recall a single post by anyone actually wanting 777 to own Everton? Not a one.

That speaks volumes. Unanimous consent on TW is exceedingly rare.

If the Donald Trump gets in, 'peace' will break out in Ukraine within weeks, and one of the conditions of the peace deal will be forgiveness for all of Vlad's pals.

There won't be a dry eye in the house when the fat man walks into the Usmanov End for our first game at the new stadium.

When your friends disappeared did you contact the police, just wondering.

Also could we do the same with Moshiri.

This means we are borderline insolvent and while you can't be done for much as a company director, you can if you knowingly trade insolvently.

You might recall our last accounts were qualified, with a question mark about us being a 'going concern' and being not one without the main shareholder's support. Since the deal allegedly collapsed, Moshiri has not done what would make us a going concern, and stated clearly he will fund it short term. (IMHO, he has zero intention of doing so.)

Thus, keeping the 777 deal on life support is a handy and cheap way for Moshiri to add a defence to him being a director of an entity that is insolvent. And that should last him through to the point when he sells our best players to fund this albatross of a stadium to completion.

To those people, if there are any left, you are mistaken. If they come up with the money before someone els,e it does mean we will be lumbered with 777 Partners. It is just their period of exclusivity that expired. It is the money that is important to him, wherever it comes from via 777 Partners.

So what is to stop someone waiting in the wings passing the requisite cash to 777? You may well ask but I'm afraid that I haven't got an answer to that one. Sorry. I have no experience in money laundering.

My question is, what actually happens if Moshiri retains (and funds) control of the club until he finds a creditable buyer?

He owns the club – it's still his job to run it, right???

Anyway, I was only using it as a personal 'conspiracy theory. The main part of the post was to support Kevin's comment (and Christine's & Brian's) of it being plausible that 777 Partners are a 'front' for the likes of Usmanov. It will be interesting to see how this all works out.

It is also of note that the naming rights for the stadium have not been touted elsewhere. Anybody on here got any news on this front?

There will hopefully be some very big arguments going on behind the scenes because the front face seems very calm, for a club in such a precarious position right now.

Why would Textor save a sinking ship? Moshiri wants out and will have to take a massive hit.

The world might look very different 6 months from now. His challenge is to ensure the club is alive and kicking when the stadium is completed in December.

Despite all the problems, the club has been paying all its bills. With so much money already committed, it would seem perverse for the biggest players to let everything fold for the sake of another 6 months worth of funding.

You can have a mortgage on a £10M house but, if you can't repay the mortgage, you are left with nothing.

They, from what I gather from reading about them, just borrow money to buy an asset, then re-mortgage that asset to buy the next asset.

There must be some avenue for them to recover some of the money they have loaned the club, or why would they??

The 777 Stadium, anyone??

I am not sure of the full financial picture – who actually is? But I think it's fairly well documented that the club has about £600-700 million worth of debt owed to MSP, R&MF and 777 Partners.

Let's say the club also need to find another £150 million to complete the stadium build. Again, these figures are entirely based on guesswork.

So what is the club worth – both in reality, and in the minds of Moshiri and Umsanov?

The playing staff as assets are probably worth about £300 million if they were all sold tomorrow.

Once the new stadium is complete, then what is that worth? Obviously it will have cost north of £700 million to build. But do we even know whether the club has actually managed to retain full ownership of the stadium at this stage, or have they had to leverage that in order to complete the build?

And how much is the name Everton worth? The history? The status of a Premier League club? The fanbase? The brand?

I cannot believe, even with the current debt and behind-the-scenes uncertainties, that Everton Football Club is not an attractive proposition. But at what price and under what terms?

I suppose the silence is a good thing, because it means that most journalists must have run out of negative things to say about us. And because I've always believed in the saying about it being calm before the storm. I live in hope, as always.

Any deal will depend on how these are resolved and what agreements can be reached with the likes of MSP, RMF and 777.

Mass poker game coming up and let's see who blinks first.

All I keep hearing is so and so lent us this money and so and so this money. How fecking much does the club owe all together???

Lots and lots and lots.

Kavek Solhekol sounds enthusiastic about Bell and Downing's bid. Fingers crossed.

https://youtu.be/tQ3v4-5j5GI?si=_ck8GtZYXd-izXsV