duncanmckenzieismagic Posted September 12, 2023 Report Share Posted September 12, 2023 https://www.skysports.com/watch/video/sports/football/12959925/ssn-explains-everton-takeover-who-are-777-when-could-it-happen Quote Link to comment Share on other sites More sharing options...
Wall Writer Posted September 12, 2023 Report Share Posted September 12, 2023 Looks like it would be December January if it goes through at the earliest. I’d just hope they don’t end up selling the stadium, but rather utilise it to generate revenue for the club. Quote Link to comment Share on other sites More sharing options...
patto Posted September 12, 2023 Report Share Posted September 12, 2023 3 minutes ago, Wall Writer said: Looks like it would be December January if it goes through at the earliest. I’d just hope they don’t end up selling the stadium, but rather utilise it to generate revenue for the club. MSP have loaned 100m to complete the stadium so all is good there. Quote Link to comment Share on other sites More sharing options...
Goodison Glory Posted September 12, 2023 Report Share Posted September 12, 2023 1 hour ago, patto said: MSP have loaned 100m to complete the stadium so all is good there. £100M was just the next instalment needed. There was still additional funding needed and they were talking to two global banks for the balance...more debt. regardless, I think Wall Writers point was even if the stadium is paid for, the new owners could asset strip and sell it - then lease it back (shudder the thought). Wall Writer 1 Quote Link to comment Share on other sites More sharing options...
c1982 Posted September 12, 2023 Report Share Posted September 12, 2023 The Esk on Twitter is a very good source on the business side of EFC: ’It is just noise. No doubt 777 would like to have Everton in their portfolio but they don't have the cash currently to do so.’ Quote Link to comment Share on other sites More sharing options...
Hafnia Posted September 12, 2023 Report Share Posted September 12, 2023 5 hours ago, Matt said: Completely missed both points but you have your bone so there's no sense discussing. The only point I got was Johnson sold to kenwright if I want to point fingers. my biggest issue is kenwright was defended by many gullible fans cos “he’s one of us”……. Never has been, never will be. Johnson was rounded on cos he was supposed to be a kopite. I’d take Peter johnson over kenwright any day of the week. to think… fans clapped kenwright cos a group of fans were actually right about him. The clown should have been run out years ago. Quote Link to comment Share on other sites More sharing options...
patto Posted September 12, 2023 Report Share Posted September 12, 2023 Just now, c1982 said: The Esk on Twitter is a very good source on the business side of EFC: ’It is just noise. No doubt 777 would like to have Everton in their portfolio but they don't have the cash currently to do so.’ Still hope MSP come up with the money still plenty of time left to get the money together Quote Link to comment Share on other sites More sharing options...
Hafnia Posted September 12, 2023 Report Share Posted September 12, 2023 1 minute ago, patto said: Still hope MSP come up with the money still plenty of time left to get the money together Isn’t the issue cos of the loans kenwright took out which meant the buyout won’t happen? c1982 1 Quote Link to comment Share on other sites More sharing options...
Matt Posted September 12, 2023 Report Share Posted September 12, 2023 4 minutes ago, Hafnia said: The only point I got was Johnson sold to kenwright if I want to point fingers. my biggest issue is kenwright was defended by many gullible fans cos “he’s one of us”……. Never has been, never will be. Johnson was rounded on cos he was supposed to be a kopite. I’d take Peter johnson over kenwright any day of the week. to think… fans clapped kenwright cos a group of fans were actually right about him. The clown should have been run out years ago. My point is we were in this same mess before Kenwright took over. But without a new stadium. I agree its gone full circle but we were worse before he took over, the early 90s still haunts me. Quote Link to comment Share on other sites More sharing options...
patto Posted September 12, 2023 Report Share Posted September 12, 2023 1 minute ago, Hafnia said: Isn’t the issue cos of the loans kenwright took out which meant the buyout won’t happen? All it means is if they want Everton whoever it may be it’s an extra 200m to pay off the debt it’s not a lot of money this day and age if you want a premier league club. Quote Link to comment Share on other sites More sharing options...
Popular Post Goodison Glory Posted September 12, 2023 Popular Post Report Share Posted September 12, 2023 38 minutes ago, Hafnia said: Isn’t the issue cos of the loans kenwright took out which meant the buyout won’t happen? Rights Media issue was that they didn't feel the investment from MSP was equivalent to the equity stake they'd be given. Rights Media don't have the ability to veto investment, but they do have the right to call in their loan so essentially if MSP wanted to go ahead the money they were investing would have been used to pay off existing debt instead of the stadium...so they changed their approach. So for future investment, one of three things would need to happen: 1. The investment terms would have to be something Rights Media was ok with so that they didn't call in their loan. 2. A full buy out 3. The investment, while not a full buy out is sufficient to repay the outstanding Rights Media debt AND invest in the club Newty82, Matt, Shukes and 2 others 5 Quote Link to comment Share on other sites More sharing options...
RuffRob Posted September 12, 2023 Report Share Posted September 12, 2023 12 minutes ago, Goodison Glory said: £100M was just the next instalment needed. There was still additional funding needed and they were talking to two global banks for the balance...more debt. regardless, I think Wall Writers point was even if the stadium is paid for, the new owners could asset strip and sell it - then lease it back (shudder the thought). The stadium was always going to be built on debt - so to that effect is always going to be an ongoing cost as part of a normal operational costs. In a way its not overly important where that money comes from, just that it comes in a timly manner to get it finished and as long as interest rates are not to high. It's going to be our home for a long time. We will have to pay interest or rent as part of any lease. In a way the most important thing for Everton is to always remain a premier league club - this single thing will dwalf any difference financially between paying interest or a lease for using the new stadium. At this point in time nobody is going to come in and asset strip the club - Stadium is all debt and no equity at the moment as its not even finish and selling asset such as the players will only get us relegated - so any purchaser of the club would loose money hand over fist if that happen. I imagine buying a football club means you are actually buying a lot of goodwill as opposed to saleable tangible assets to enable a quick buck. What you do with this goodwill is key. For any investers in a badly run football club, the simplest and best way to make money would be to run it better both on and off the pitch - increasing the overall value and turnover of Everton FC and selling it on as a club in a better position than when you bought it. Are 777 capable of doing this? we shall see. AlbanyNYToffee, lacedupshoes and London Blue 3 Quote Link to comment Share on other sites More sharing options...
Hafnia Posted September 12, 2023 Report Share Posted September 12, 2023 42 minutes ago, Matt said: My point is we were in this same mess before Kenwright took over. But without a new stadium. I agree it’s gone full circle but we were worse before he took over, the early 90s still haunts me. Under kenwright we had the opportunity to get the kings dock site …. An absolute gift horse that was a fraction of what bramley Moore costs. he lied about having the money for it. The greggs would have delivered it and he seen them off to maintain control of his train set. under Johnson we won the fa cup. A short ownership that wasn’t great. Under kenwright a long ownership that has seen us slide further and further down the pecking order. Quote Link to comment Share on other sites More sharing options...
Matt Posted September 12, 2023 Report Share Posted September 12, 2023 33 minutes ago, Hafnia said: Under kenwright we had the opportunity to get the kings dock site …. An absolute gift horse that was a fraction of what bramley Moore costs. he lied about having the money for it. The greggs would have delivered it and he seen them off to maintain control of his train set. under Johnson we won the fa cup. A short ownership that wasn’t great. Under kenwright a long ownership that has seen us slide further and further down the pecking order. Not arguing that it hasn't turned out badly. You said it started with him and it just didn't, we were a mess fighting relegation then. Quote Link to comment Share on other sites More sharing options...
Goodison Glory Posted September 12, 2023 Report Share Posted September 12, 2023 31 minutes ago, Matt said: Not arguing that it hasn't turned out badly. You said it started with him and it just didn't, we were a mess fighting relegation then. To make it worse, we've had a "do-over" or "clean slate" whatever term you want to use and we've screwed it up again...bill being the constant in overseeing/making decisions. I think we all agree, we just pray for the day we can move on. Romey 1878, Matt and Hafnia 3 Quote Link to comment Share on other sites More sharing options...
Matt Posted September 12, 2023 Report Share Posted September 12, 2023 2 minutes ago, Goodison Glory said: To make it worse, we've had a "do-over" or "clean slate" whatever term you want to use and we've screwed it up again...bill being the constant in overseeing/making decisions. I think we all agree, we just pray for the day we can move on. Oh absolutely. This is beyond embarrassing at this point. Quote Link to comment Share on other sites More sharing options...
Romey 1878 Posted September 12, 2023 Report Share Posted September 12, 2023 26 minutes ago, Goodison Glory said: To make it worse, we've had a "do-over" or "clean slate" whatever term you want to use and we've screwed it up again...bill being the constant in overseeing/making decisions. I think we all agree, we just pray for the day we can move on. We all should’ve know Moshiri’s reign was going to be disastrous the moment he kept Billy Bullshit around. StevO and KinL 2 Quote Link to comment Share on other sites More sharing options...
Wall Writer Posted September 12, 2023 Report Share Posted September 12, 2023 The Guardian reporting that it’s a majority stake. Also, the “drug trafficking” isnt as bad as it first sounds. Apparently the guy was “arrested in 2003 after being caught with 31 grams of cocaine that were sent to his address in the post, which he later admitted was for him and a friend. He was sentenced in 2004 and released on a long period of parole, which ended in 2018.” 31 grams hardly sounds like he’s Howard Marks! Quote Link to comment Share on other sites More sharing options...
Romey 1878 Posted September 12, 2023 Report Share Posted September 12, 2023 9 minutes ago, Wall Writer said: The Guardian reporting that it’s a majority stake. What part of full takeover made you think it wasn’t? Quote Link to comment Share on other sites More sharing options...
Wall Writer Posted September 12, 2023 Report Share Posted September 12, 2023 31 minutes ago, Romey 1878 said: What part of full takeover made you think it wasn’t? Erm… I was thinking majority means ‘most of’ whereas full means ‘all of’. A majority stake might just mean that Bill gets to stay on for the inevitable “transitional period!” Quote Link to comment Share on other sites More sharing options...
Romey 1878 Posted September 12, 2023 Report Share Posted September 12, 2023 5 minutes ago, Wall Writer said: Erm… I was thinking majority means ‘most of’ whereas full means ‘all of’. A majority stake might just mean that Bill gets to stay on for the inevitable “transitional period!” Full takeover just means they’ll own the club, which means they need a majority (Moshiri’s shares) and I think we all know we’re not getting of that other oaf until it’s in a wooden box . Quote Link to comment Share on other sites More sharing options...
Romey 1878 Posted September 12, 2023 Report Share Posted September 12, 2023 Bodes well for when we move to the new stadium. I can hear them rubbing their hands already. Quote Link to comment Share on other sites More sharing options...
Wall Writer Posted September 13, 2023 Report Share Posted September 13, 2023 8 hours ago, Romey 1878 said: Full takeover just means they’ll own the club, which means they need a majority (Moshiri’s shares) and I think we all know we’re not getting of that other oaf until it’s in a wooden box . There’s my naive optimism coming out again. Romey 1878 1 Quote Link to comment Share on other sites More sharing options...
duncanmckenzieismagic Posted September 13, 2023 Report Share Posted September 13, 2023 https://www.goodisonnews.com/2023/09/13/everton-takeover-news-senior-government-figures-to-put-pressure-on-as-777-partners-in-advanced-talks-with-farhad-moshiri/ Quote Link to comment Share on other sites More sharing options...
Matt Posted September 13, 2023 Report Share Posted September 13, 2023 11 minutes ago, duncanmckenzieismagic said: https://www.goodisonnews.com/2023/09/13/everton-takeover-news-senior-government-figures-to-put-pressure-on-as-777-partners-in-advanced-talks-with-farhad-moshiri/ Fits the "buy to flip" business model that's being talked about. We're truly fucked. Quote Link to comment Share on other sites More sharing options...
Shukes Posted September 13, 2023 Report Share Posted September 13, 2023 They have to go through the directors test. If they fail this, then it won’t happen. If the government pass them…. That’s them saying they are a responsible company. Probably fake and another made up news feed to hit Everton again and again. Quote Link to comment Share on other sites More sharing options...
Matt Posted September 13, 2023 Report Share Posted September 13, 2023 1 hour ago, Shukes said: They have to go through the directors test. If they fail this, then it won’t happen. If the government pass them…. That’s them saying they are a responsible company. Probably fake and another made up news feed to hit Everton again and again. Like the league signing off on our transfers? That worked out fiiiine... Shukes 1 Quote Link to comment Share on other sites More sharing options...
Palfy Posted September 13, 2023 Report Share Posted September 13, 2023 On 12/09/2023 at 10:40, Palfy said: It’s not looking like a good start to the week on the ownership front, all we can realistically hope for is that the league block the deal. Maybe I wasn’t too far off with the league blocking the deal, and more so if this story has any merit and the claim that government have reservations about 777. Will the PL go against government advice again, especially when the government are questioning the league’s ability to govern themselves independently. Quote Link to comment Share on other sites More sharing options...
Zoo 2.0 Posted September 13, 2023 Report Share Posted September 13, 2023 The fit and proper test has been a farce ever since it was introduced, as is the notion that the Premier League can govern themselves. If 777 want to acquire Everton and both parties agree, that is what will happen. The Saudi takeover of Newcastle was the biggest red flag that the F&P test could have challenged yet they didn't. It's purely a token to fool those not invested in football that there is some form of screening process protecting clubs from these jokers. Goodison Glory, RuffRob, Matt and 1 other 4 Quote Link to comment Share on other sites More sharing options...
duncanmckenzieismagic Posted September 13, 2023 Report Share Posted September 13, 2023 https://www.dailymail.co.uk/sport/football/article-12510449/Josh-Wander-Everton-777-Partners-Farhad-Moshiri.html Quote Link to comment Share on other sites More sharing options...
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