Report claims Moshiri is continuing talks with A-CAP

The mention of 777 Partners in any form sends shivers down the spine.

The idea that this is becoming some sort of battleground to save monies owed rather than take Everton forward does not bode well.

Hopefully someone with a better insight into the facts can help out here.

The murky world of finance seems to me perfectly suited to running a football club these days... sigh.

Crystal Palace would not have done that, as Textor's current situation shows. In any event, at Everton that wasn't done and now we have a Moshiri mercenary playing Russian Roulette with Everton's future.

Couldn't make this shit up.

I've said all along that 777 Partners are simply a bridge to Usmanov. He's calling the shots and, ever since we held up banners stating "Moshiri, get out of our club" he's taken the view "Okay, fuck em, I will but on our terms and fuck the future of this lot."

There is no way the Premier League will let this through and so it drags on. Moshiri, son of Kenwright…

Such disappointing news.

Let's hope we can get decent owners who put Everton and the fans in front.

Yes, make your millions but put football people in charge, please.

Even if the headline is true, Moshiri would be talking to A-CAP, wouldn't he? He appears to owe them money (via 777's alleged lending of £200M).

We continue.

They will pay Moshiri a tidy sum to get this through. The leak is probably from A-CAP, not Moshiri.

Hope he gets his fingers severely burnt!

The sooner we're rid of this stooge, the better.

It is also interesting that Moshiri seems to be handling the negotiations himself rather than through experts in the field.

Sums up amateur hour at the club.

If this story is true, I can see the other parties walking away.

They will pick what is best for them only.

[* Or what's best for any associated Russian…]

We do not have an owner remotely interested in the future of the club he leaves behind. He just wants as much of his investment back as soon as possible, directed towards the bank accounts he wants it to go to.

If there is a right to veto for all creditors, then unless Moshiri (and/or A-CAP) put their hands in their pockets again, there is no avoiding the reality that we are not a going concern and the directors of EFC either have to resign or choose administration.

If 777's money is junior debt, then they have a motive to avoid administration and at the very least, spin it out for a week or two. So, bizarre as it may seem, I don't think it's impossible A-CAP will do this and pay the next tranche of bills.

They may well get their money back quickly from the proceeds of Jarrad's sale which I think sadly is now looking like a 75% probability at least. And Man Utd, or whoever is in for him, will know that so we will get far less money than we need and merit.

The vultures remain over the carcass…

So, if you buy a house and spend money on doing it up and maybe contribute some goodwill to the neighbourhood over the years, what do you do when you go to sell it?

You seek out the best price and terms from whoever is prepared to pay that, don't you? How many would say "No, I don't think I'll accept the best price because I don't think those offering that amount will get on as well with the neighbours…" Really?

Moshiri is doing what any investor does and will look to recoup as much of his investment as he can. And why wouldn't he?

He's at least had the balls to source the readies to get a beautiful new stadium built but some on here slag him off because he wants to get some of that money back.

Were we expecting a 'sugar daddy' to pour millions into the club for no return? How entitled or deluded are some of the posters on here?

We need to rid ourselves of the stench these two crooks have left lingering behind.

I still think there's at least one other group waiting in the wings but, until Moshiri stops playing these silly games, then my guess is that it's probably hard for them to take the man seriously.

He allegedly couldn't tell the people at FAB much the other week because of an exclusivity clause, so maybe they should ask him again now.

Or they should try and get the Premier League to put a bit of pressure on him (wishful thinking, but I'm sure this is eventually what happened to Hicks & Gillet across the park?) because, as it stands now, I'm not sure anyone trusts the current alleged owner to do the right thing by Everton Football Club.

Good point, Craig @16, but if you have massively overspent on that house, and lent way too much money in the process, then there is simply no way you will get all your money back.

The reason we are? As the FAB said, history speaks for itself: apart from multiple debts Man Utd have being living off for years, so why can't we?

Just a standing throw would be hard but if you lifted him up sideways, held him towards your midriff and span like a shot putter, I'm betting you could propel him at least eight feet.

An arm, then a leg, then his brass neck...

In the Bonza debacle is tl was uncovered that there was little distinction between A-CAP and 777 Partners. They both were connected to 777 Re, Bermuda. There is absolutely no due diligence being applied by Everton regarding 777 Partners or A-CAP. They might as well be in-house.

The Premier League is trying it's best within it's remit but the implementation and investigation of sanctioned parties is lost in a tray somewhere.

The only deal on the table is with such parties.

Small portions go along way.

Moshiri bought the club, he gave it a shot and flopped, there were several culprits responsible for the failure – not just him.

He's built a shiny new stadium to try and advance the club but then Putin put a very big spanner in the works.

I think the club has been cursed for some time now, we just can't get a break.

I think a lot of people appreciate Moshiri's intentions but the top and bottom of it his he has employed contractors and advisors that have made a mess of his house and loans exceed the value of the said asset meaning someone has to take a haircut.

He seems reluctant to accept this and is engaged with dodgy people who he thinks will rescue him but it's actually making things worse.

If you sold your house to metaphorical drug dealers and violent criminals for a few dollars more and in the right offshore account, maybe the neighbours might have a point?

Jay and Mark, maybe, but it's his house and nobody else's opinion really matters a damn.

Sean #21, you've got a better chance of banking £800 million than Moshiri does.

Tony #20, if genuine bidders for the club are those still capable of taking Moshiri seriously, Everton will get new owners in 2037.

There would appear to be far better options around the table if all is to be believed, and if A-CAP have anything to do with 777 Partners, then surely Moshiri would be advised to steer well clear?

Except… other than restructuring debt on a long term basis, Why do they even get a hearing? Whats in it for Moshiri, never mind the club?

How does any deal with A-CAP benefit Moshiri? In anyway if he is honest about selling up? (I personally think he only ever wanted to sell a majority shareholding…)

A-CAP can only provide part of any solution, who is funding the rest, the equity needed to pay out Moshiri, pay for the rest of the stadium, ongoing management of costs, etc… Who is (still) pulling the strings here?

Maybe i's all bullshit made up by media but we are no longer bound by any "exclusivity" agreements so how about the club making comment? Na… will never happen.

Why were 777 Partners in the picture for so long in the first place? Why are their backers even talking to us except to try to get their money back… but they aren't, are they?

They want to restructure our debt? R&MF anyone? Loan sharks the lot of them.

So Mr Moshiri, you enabled the build of a fabulous stadium. Probably with the help of a friend we all know… Why are you even talking to A-CAP?

The only “logic” I guess is if 777's loans that apparently are A-CAP's are transferable into equity and, with that money “in the bank”, maybe these conmen claim they'll chip in more – let's just say £300 million?

Whereas maybe people with actual money and actual business acumen may be saying “We will only chip in £400 million cause realistically that's the best you're gonna get, mate.”

But, with a Russian Uzbek gangster tied to a state leader who has a habit of killing enemies, perhaps Moshiri is worried about Usmanov's public comment about wanting all his money back, and fear has driven him to believe the fantasy that A-CAP can make it happen.

I over-estimated him and, to my dying shame, the vain-glorious bombast of the arch parasite Kenwright, even though I've always rightly slayed him.

We are fucked, because of those two, for years to come. Nobody next owning us can feasibly contend any sort of optimistic scenario.

We're up Shit Creek, devoid of paddle, for years to come, courtesy of a shyster so-called genius mega-accountant and the devious ultra-hypocrite who conned him (and way too many of us – to our endless shame) for years.

I can't see, barring miracles, there being any solution to this self-created mess (Moshiri) which seems to be getting bigger by his flirtations with another set loan sharks and crooked dealers.

Let's hope he gets a visit from Mr Kobiashi on behalf of a very displeased Kaiser Sose!

He just can't pull himself away from dealing with shady characters who he knows are abusing him.

If there are any connections to who we think you are talking about, we would be right in the shit!!

In Everton's accounts, these shareholder loans have been been converted to equity and are shown under other reserves. The deal with 777 Partners was to buy Moshiri's equity. I can't recall it being all his equity or part of it.

Moshiri was reported as securing a extension on the MSP Sports Capital loan, since 777 Partners were unable to pay it. lt seems that Moshiri is still in negotiations with 777 Partners, or at least related parties, A-CAP.

It seems to me that Moshiri may be even part of the negotiations with lenders and the Premier League on behalf of 777 Partners to get this transaction over the line. Everton are paid a tranche of the Premier League monies in June, so cash flow may be okay for the moment.

I don't even expect an exclusivity agreement, I expect a fait a compli statement, but not immediately. What is the point? A mockery is being made of normal takeover procedures. Neither 777 Partners nor A-CAP would pass normal due diligence.

In short (my take), if A-CAP do get hold of the club, it will let them recover their money (allegedly loaned via 777 Partners) and replace it with a new, probably 3rd party source of funding, aka debt. They will then hope to sell the club on to parties unknown.

This could, I suppose, be either (i) doomed to fail, leaving us with a reluctant, disinterested owner (again?); (ii) be part of a pre-planned route to a more preferred owner (Bell and Downing, Manoukian, whoever); or (iii) start the whole sorry process of being put up for sale once again and effectively back to square one with all its unpalatable options (administration included).

The very presence of A-CAP 'still in the game' suggests or at least fans a suspicion of powers further up the food chain than our erstwhile accountant...

The absurdity of a potential bid for Everton by A-CAP

I agree with Jerome and have started thinking that we need something more than an exclusivity deal now, because of both the enormous debt and the worry of being hit with another points deduction next season.

This is not a straight sale. There must be so many dark closets in this it beggars belief.

Think back, why wasn't Kenwright ever canned? Why was 777 listed as a junior debt for £200M? Why is Moshiri even talking to A-CAP?

I think it's painfully obvious it was never Moshiri pulling the strings. Once sanctions came into effect in 2022, the money stopped, the board went AWOL, and the fans were basically told where to go.

Moshiri may have no choice in the selection of a buyer. For reasons even he might not know.

You either take X pence on the pound for your debt or you may lose all of it as the club is now, eg, 'facing administration' – and at that point, the deal will be cut. Until we get to the crisis point, it will just drift and drift.

Let's go back to the very beginning: Usmanov is an Arsenal supporter and, as well as his own shares in Arsenal, he gifted shares to Moshiri. When Kronke told Usmanov he wouldn't sell him Arsenal, even if he was the last man on earth, within weeks, Moshiri sold his shares in Arsenal and bought Everton.

We know that Usmanov had a 2-hour meeting with Ancelotti before he agreed to be manager, and we know that's a fact because Ancelotti has said that's what happened.

He also interviewed Benitez on his yacht while just outside Sardinia, and the rest of the board had no idea he had signed until Moshiri presented him at a board meeting.

I don't understand the murky world of high finance, but I can well imagine that billionaires don't like losing money. So Everton will be sold to the people who will give Usmanov and Moshiri the best return.

But the problem they have is trying to convince the Premier League that the people they wish to sell to are fit and proper people. So far, 777 Partners, their preferred option, hasn't convinced the Premier League and I imagine that A-CAP will have similar difficulties.

I hope the good guys win in the end, but God only knows how long it will take.

All that stopped when Sky took over. Now it's shady deals, overpaid players and corruption.

It must be the worst kept secret in football that Moshiri is only a frontman and it is also clear that this has been going on for years so hopefully someone from the league steps in. (Almost everything is a contradiction in this world!)

I believe a precedent was set years ago when Martin Broughton appeared to save Liverpool from going into administration, although, if it goes much longer, I'm not sure how Dyche and his players will be able to prepare for next season with such dark clouds hanging over the club.

Hopefully what Kevin M says @50 happens soon.

Administration would be a disaster. Immediate 10-point penalty, selling off of Pickford, Branthwaite, Onana, Calvert-Lewin and anyone else who would generate cash. No ability to sign anyone new or offer existing players new contracts.

It would be much better to hold off from selling any players, take the PSR breach which is likely to be much less than 10 points, and regroup next season with the same squad as last.

As I posted previously, no amount of new investment would fix our PSR breach – only income (sponsorship, player sales etc) would do that.

Barry @55, Noooooooo...

I can't see how this cycle is going to break, though… :(

We're in utter shit street, yet people are still interested.

Imagine if the decks were cleared financially – the queues of interested parties would be round the block plus the acquisition would be transparent, clean and quick with an open field to invest where required – on the pitch.

Some of those interested might have real money rather than consortia who seem akin to Kenwright post Johnson.

Bite the bullet – go bust… then rise Phoenix-like from the ashes!

I hate and despise the cretin who searched high and low to find a couple of mugs who would let him still be the figurehead as the club lurched from one crisis to another.

How long are the people who have given their lives and money supporting this once great club going to be stood in the cesspit as the latest contents of the boardroom toilet is flushed their way once more?

The character in The Dark Knight said "Some people just want to see the world born, where The Joker character lit his millions on fire."

How do you deal with people like this Moshiri? He wants his millions one way or another and we know the takeover will be dragged out all this year.

It's like he wants Everton to go into administration. Someone should sue him for being a dangerous character.

Sadly your Utopian view of simply ditching the debt is just not how insolvency law works.

An Administrator would first try to sell the company the way it is. If that's not possible (and we all seem to agree that the debt is just too big for that), then ultimately they will sell assets off in a breakup situation.

Selling the existing company is the only way to preserve its standing in the league system. A sale of assets leaving all debts behind other than those secured on those assets and ‘football' creditors, would necessitate the registration of a new club. That would mean starting at the bottom of the football pyramid – as Glasgow Rangers did.

Is that really what you're advocating – just for the sake of the £200M unsecured debt?

It's a massive No from me.

Who will want to buy Everton with another points deduction hanging over the club unless the PSR is sorted out pronto – and that's before we will have to make our first payments on the two foreign strikers we bought last season on the never-never.

Lending or buying on the never-never eventually catches up with everyone except the great William Kenwright, although our saviour was a complete one-off who must be turning in his grave or maybe he is smiling into his margaritas somewhere?

Who will forget the classic "You don't need £5M to buy a £5M player"?

Joseph Yobo was the first to be bought on the never-never.

Subliminal bias, regarding what? Paul Quinn been open about wanting Moshiri out of the Club; a clear and obvious bias.

One thing about A-CAP, no one is ripping them off. A billionaire outfit. They were funding 777 Partners.

They only want their money back and so would A-CAP running us and structuring our debt be that outrageous?

They have money to bring players in clearly.

Interesting example choosing Rangers; 14 years after going bust, they're now in rude health and winning. Our prospects via the proposed buyers seem a continuation of Kenwright but there again some see that as fine and dandy.

In your parlance, that's a massive No from me.

There's only 2 teams likely to win anything in Scotland, barring a Leicester-like anomaly. In the English leagues, it's much harder to climb your way back – just ask Leeds, Man City, Coventry, Portsmouth, Preston QPR, MK Dons, Wimbledon, etc.

Anyway, it is a lot easier to rise in a small pool like Scotland. A new Everton would be permanently stuck in the lower leagues, definitely not what we want.

Moshiri and Usmanov want EFC to remain in purgatory for as long as possible. They are punishing the fans.

I get it will need to be paid back or negotiated to a settlement, but is it at an extortionate interest rate? A-CAP obviously want something for their £200M and Moshiri seems obliged to listen.

Has this £200M actually given us that bit of a chance that someone finds us a good deal now?

I have no doubt that the discussions with potential buyers are the equivalent to those that an Administrator would undertake. They will be seeking to reduce debt to a level that will match the best offer.

Should that be unsuccessful, then an Administrator would formally undertake the same process. Should it be unable to do a deal with not just a buyer but also all creditors, then Everton cease to exist (a result of going bust).

A sale of assets would go to the club's creditors and a new new club would be created that would start life most likely in the Conference.

Therefore:

- All players, coaching staff and club staff would be lost,
- Goodison would be sold off for building land,
- and the new ground wouldn't be taken on (who would pay multi hundreds of millions for a big shiny ground hosting Conference football?).

Unlike Glasgow Rangers, the new Everton would be floundering around in a much bigger football pond (aka cesspit) that could take forever to get back to the Premier League – if at all.

By the way, Rangers are not in 'rude health' having sustained losses of £93M in taking just 3 years getting back to the SPL!

Whilst I respect that everyone is entitled to an opinion, yours is one that would create a doomsday scenario that offers a far worse outcome than the position we currently find ourselves in – and that's quite something when we consider where we are.

Not sure there are too many who would vote for your direction.

It leaves Moshiri as the majority shareholder who can sell his shares, and reduces the debt, making the club a more attractive buying proposition with only the immediate MSP £200M loan to worry about.

It's good for A-CAP that they then have more security on their debt and can hopefully make a profit on it in the future.

Something dodgy about this 777 deal… it has had the stench of Usmanov's money involved one way or another.

[Taps nose…]

The problem is that we are in the dark regarding the Share Purchase Agreement with 777 Partners and A-CAP's charge on the funding of that loan. We also don't know at what stage A-CAP became involved. Are they in fact 777 Partners from the start or have they come on board, by means unknown, now?

Moshiri has repeatly stated that he expected no problems with the 777 Partners takeover. He has not said that 777 Partners failed to meet the current deadline for Premier League conditions.

As a matter of fact, I expect that Moshiri will maintain a controlling interest and bring in another investor. The MSP loan will be paid at some stage. Administration is a long way off.

Up to now, nothing has been straight-forward. I expect no change.

Then Moshiri has roughly 60% left to sell as a controlling share meaning a buyer has to stump up less, and if they can do a first option deal with A-CAP?

I bet he meets financiers every day of the week.

I'm glad you are keeping a watchful vigil on the Bell End!

Sure it wasn't Moshiri? :-)

Just passing on information... maybe some more info very soon.

Okay, maybe he is just losing reputation rather than control, but still, this is getting comical.

Is this where you got your info from?

https://members.boardhost.com/peoplesforum/msg/1718281042.html

As you say, a doomsday scenario.

Alternatively, imagine an oil mogul reinventing the club, recalling the spirit of our forebears who told Houlding to shove his rent in dire circumstances and built the finest stadium of its time, Goodison Park.

No matter what the division or circumstances, real Evertonians would flock to the flag – it just depends on what faith you have in Evertonians.

This must be a fabrication. If it were true, it would be the door for a legitimate contender to get Moshiri out of the equation.

We know that Usmanov had a 2-hour meeting with Ancelotti before he agreed to be manager, and we know that's a fact because Ancelotti has said that's what happened.

He also interviewed Benitez on his yacht while just outside Sardinia, and the rest of the board had no idea he had signed until Moshiri presented him at a board meeting.

I don't understand the murky world of high finance, but I can well imagine that billionaires don't like losing money. So Everton will be sold to the people who will give Usmanov and Moshiri the best return.

You are bang on the mark above about Usmanov, my belief at the time was, had Usmanov taken control of Everton, he would not have then sponsored Everton Football Club, through USM, including the training ground, the women's football team, advertising at Goodison, and the naming rights on the new stadium.

By remaining outside of conflicting interest, or the owner, he could have continued funding Everton without it impacting PSR.

Since the sanctions in Russia came into place, that scuppered Usmanov's plans, and coincides with no money from Moshiri, since the sanctions came into place.

I am as close as 100% sure that Usmanov is still calling the shots, and had his fingers in the 777 pie.

They did not do so because, per every report, they have no interest in majority ownership. They originally bid £150M for a 25% piece of the club.

I have always believed that MSP's ultimate ambition is to put together a consortium to buy the club, in which they would have a controlling interest and a couple of Board seats but not, repeat not, a majority ownership stake.

Everton is a high-debt, high-risk investment, and under my imagined MSP model, that risk would be shared across multiple investors in the consortium.

I've been out on the MSP limb for many months now, and I'm still perfectly comfortable here. I still believe this is MSP's objective, and I will be ecstatic if they pull it off. And if they still have that 51% right, they hold the high card in the deck for this game.

Usmanov may or may not be calling the shots for Moshiri, but I strongly doubt he's directly involved with 777 Partners or A-CAP.

Reason: it wouldn't be worth the massive risk. Josh Wander may be shifty, but he ain't stupid. The legal penalty for trafficking with a sanctioned oligarch could be prison (maximum 20 years in the US and 7 years in the UK) and millions in fines.

I don't know about the appropriate UK agency, but the US Treasury Department's Office of Foreign Assets Control does not mess around. They just nailed a plastics company for $20 million for trading with Iran.

Who would risk that to buy a troubled football team? Nobody. I'm quite sure that whoever buys Everton will double- and triple-check to make sure Usmanov is nowhere near the transaction.

We just need to hope that Moshiri has a modicum of decency when it comes to our future. Surely he doesn't want to be seen simply as the man that fucked up Everton. He has to have some pride surely?

The stupidity and shallow callousness of this keyboard codswallop is as jaw-dropping as the complete ignorance of the consequences of going “bust” (never mind the caring gentle attitude towards the club's employees and their families).

There are babies in wombs who have better understandings of administration than Mr. Rathbone. No problems everyone, we'll just get those “decks … cleared financially”. No worries, we will “rise Phoenix-like from the ashes!” Jesus wept he even pukes up the example of Rangers in two-club Scotland, who are, apparently, in “rude health”. “Rude health”! They are around 100 million in debt, aren't they?

Comparing Rangers' years-long “Phoenix-like [rise] from the ashes!” through the utter shite of lower-level Scottish footy to Everton starting all over again is like comparing the speed of sound with a disabled tortoise.

Primary school bankruptcy/financial management Mr. Rathbone: the administrator has to find a buyer for our debt while keeping all creditors happy at the same time. The likelihood is that the fish won't bite so asset stripping will begin and anyone with a tadpole's brain has a good idea how that might well end up.

Anyone who casually types "Alternatively imagine" should be ignored at all costs.

Or, alternatively, Mr. Rathbone, you could go back to your drawing board and explain to us in finite detail how you think administration/bankruptcy actually works (details not generalisations).

This all takes me back. One of my first jobs was in The Official Receiver in Bankruptcy Office on North John Street with luncheon vouchers for Sayers around the corner.

Mark #94, I don't think Moshiri could care less how he is viewed by the world. I believe his sole priority at this point is to get out from under his ill-fated Everton adventure with as much of his fortune intact as he can. I don't see that as indecency. Just practicality from a very practical guy who got way in over his head.

Bullet dodged... or is it well played Moshiri for getting circa £200M out of them to keep us afloat this season???