At this stage, who would lend 777 more funds? Moshiri needs to get his finger out and find a creditable buyer.

Is there any possibility that 777 creditors could start seizing EFC assets to cover losses in other business ventures?

Seeing as we owe them £200M…

Bad people, Pat.

Craig, that wouldn't be possible unless the takeover goes through. At that point, EFC's assets would be theirs, which is the biggest concern now regarding 777 buying the club, in my opinion.

As The Esk tweeted earlier, it's hard to see how 777's creditors don't now stampede to try and recover their money as quickly as possible before what appears to be a house of cards collapses.

Pat (1)

He can't as there is an exclusivity deal in place. End of May(?) is mentioned for 777 to get a lump sum together. Let's assume that is the final chance they are given.

Meantime, Moshiri can't be caught smooching other suitors. Let's face it, who wants in on this mess?

From memory, the end of May date was only mentioned by 777 as a date they hoped to have everything in place to complete (or something like that).

Take that date as gospel if you wish but I would caution against that on the basis of them mentioning dates previously has meant nothing at all.

Not saying they are liars but… make up your own mind. They are good at giving dates for this and that, none of which have come to fruition so far!

What an absolute shit show.

Lyndon @4.

I was more asking if 777 go bankrupt or Chapter 11 across all their business, what happens to the £200M they have given us?

Anyone seen George Bailey?

There's a run on the bank!

I knew these fuckers were crooked. We need the Premier League to step up, reject any more extensions, force MSP to take control with a new buyer in the wings.

It's A Wonderful Life – Bank Run

Craig,

I'm no specialist and have limited knowledge but, as of now, I believe 777 s simply a creditor. They own nothing. They'd have to get in line to get their £200 million repaid.

If they file bankruptcy, anyone in line to get the scraps from 777 would probably request Everton satisfy their loan with 777 in order to pay 777 creditors.

As Paul Hewitt perfectly puts it, it is without a doubt a shit show.

It is indeed a shit show. What I can't work out (and I know very little about this crap) is: Who is the 777 loan with?

In theory, they gave Moshiri £200M on the promise of his shares in EFC. Moshiri used this money to run the club. But if Moshiri is not allowed to sell his shares to 777, would he not be on the hook to pay them back?

As my mum used to say, “Oh what a tangled web you weave when first you practice to deceive!”

777 seems to be one massively tangled web!

If Everton FC emerges, once this is over and done, recognizable as anything close to the EFC we now know; I will be very surprised.

What a mess!

I hope this paves the way for other parties to look at us and buy us out. Surely this should be the final nail in the coffin for 777. Hope Moshiri realizes this and we get a buyer with deep pockets, business acumen and hopefully no controversies.

Correct me if I am wrong that we are at least secured till the end of June and the stadium is almost secured with the funding. Maybe more funding might be needed to finish the stadium but at a later stage. In the meanwhile, we should be able to get a buyer who can change our fortunes for good.

Mihir,

"Correct me if I am wrong that we are at least secured till the end of June and the stadium is almost secured with the funding."

If you're talking overall funding, I believe we're okay to the end of the season, so end of May. Then, at some point after that, I believe we get a substantial payment of the Sky monies for TV exposure and also the merit payments (cough!) for finishing a lowly 15th in the Premier League table.

What that does not guarantee necessarily is full funding for the ongoing construction of the new stadium at Bramley-Moore Dock, which will continue to require substantial monthly payments at least until the scheduled completion date of December 2024.

In short… No.

Banners from the street end on Saturday should read:

‘NO TO 777'

The situation has become pathetic.

Craig #11,

My understanding is that 777 Partners are using money provided by 777 Re in Bermuda and A-Cap in USA. Both of as these have dried up as dources of funds due to financial regulation.

A-Cap and 777 Partners ties have emerged as closer than thought from information arising from the Bonza collapse.

777 Partners PR machine has them talking to a new source every week. The last tranche payment to Everton source is unknown. whilst in September it rumoured that 777 Partners paid R&MF demands, which MSP Sports would not, hence the buy agreement between Moshiri and 777 Partners.

It is also rumoured at the end of September that R&MF extended and topped up their loan.

777 Partners loan is secured by conversion of Moshiri shares on takeover completion or probably by a charge against his equity if not.