Board/Owners Related Stuff

[RuffRob]

I would hazard a guess if they haven't been able find the money needed over the past 8 month, I think they will struggle to get it in a fortnight. Especially if other aspect of their business are in financial hardships.

 

[Gwlad]

This supposed takeover is the shit show of the highest order.

[London Blue]

Mybe the extension gives more time for an alternative bidder to be firmed up?

Just trying to be hopeful!!

[Wall Writer]

I hope Moshiri is telling any other interested parties to have their bids in first thing 1st June and be ready to close the deal the following Monday morning.

 

[Harv]

It reminds me of an Arthur Daley business deal.

[StevO]

12 hours ago, London Blue said:

Mybe the extension gives more time for an alternative bidder to be firmed up?

Just trying to be hopeful!!

Im hoping this too. Give them until 31st, while giving MSP that same time to get their ducks in a row. 

[Romey 1878]

https://www.skysports.com/football/news/11671/13136252/evertons-farhad-moshiri-extends-777-partners-deadline-as-decision-time-looms-reporters-notebook

[Romey 1878]

 

[Romey 1878]

 

[dunlopp9987]

On 15/05/2024 at 03:14, London Blue said:

Mybe the extension gives more time for an alternative bidder to be firmed up?

Just trying to be hopeful!!

I like the positivity! However I feel like we've been saying this type of thing for ages. "Maybe this extra bit of time will allow for our white knight to swoop in and save us!"

[Romey 1878]

 

[MikeO]

34 minutes ago, Romey 1878 said:

 

This is madness! How can anyone think they'd be good patrons for our club? 

[Matt]

5 minutes ago, MikeO said:

This is madness! How can anyone think they'd be good patrons for our club? 

It's not for the PL to decide though, Mike. Remember?

[Romey 1878]

This whole thing is fucked up.

[Haiku]

Moshiri apparently gives zero fucks about the club's future. He will sell to whoever pays his asking price.

[Matt]

6 minutes ago, Haiku said:

Moshiri apparently gives zero fucks about the club's future. He will sell to whoever pays his asking price.

Well not at the moment. He's got an agreement with a company that has no money but does have exclusivity

[dunlopp9987]

32 minutes ago, Matt said:

Well not at the moment. He's got an agreement with a company that has no money but does have exclusivity

Is there an option for both the laughing and crying reaction? 

Asking for a friend

[Hafnia]

On 23/03/2024 at 09:16, StevO said:

This idea they don’t reject is nonsense. They are a board to decide a decision one way or another. The outcome is pass or fail, there will be one. 
 

Seems there was a lot of smoke and mirrors with Jim Ratcliffe. From the outside he was signed off in a matter of weeks, but apparently he applied months before and took as long as ours have. So I heard last week (some online news source).

Told ya. As ludicrous as it sounds that's what they do. They will approve if conditions are met. 
 

Personally I think it's a joke, they should be keeping clubs safe..... well that's what psr does right? 

[RuffRob]

there is no way the PL will 'sign off' on 777 Partner in their current climate, and they are not turning all this around in a fortnight (or 10days now).

PL don't have to come out and formally 'reject' them, they will just keep saying that 777 are not yet in a position to demostated that they are fit and proper to be owners.

I think the truth is that once the Everton takeover door slams shut on them - 777 Partner are in a whole heap of trouble, beyond what they are already in. This one looks like a house of cards  

 

[London Blue]

1 hour ago, Matt said:

Well not at the moment. He's got an agreement with a company that has no money but does have exclusivity

[Palfy]

9 minutes ago, RuffRob said:

there is no way the PL will 'sign off' on 777 Partner in their current climate, and they are not turning all this around in a fortnight (or 10days now).

PL don't have to come out and formally 'reject' them, they will just keep saying that 777 are not yet in a position to demostated that they are fit and proper to be owners.

I think the truth is that once the Everton takeover door slams shut on them - 777 Partner are in a whole heap of trouble, beyond what they are already in. This one looks like a house of cards  

 

I may be wrong but I thought they had been given the green light from the PL as long as they met a couple of stipulations, one being the 158 million back to MSP, or have I miss read or got mixed up. 

[London Blue]

1 minute ago, Palfy said:

I may be wrong but I thought they had been given the green light from the PL as long as they met a couple of stipulations, one being the 158 million back to MSP, or have I miss read or got mixed up. 

I think the main stipulation, and the one they are failing on is having any money.

[Iamryanstover]

2 hours ago, Romey 1878 said:

This whole thing is fucked up.

This is bad. How does the club move forward here? I have been worried that Moshiri will let our club sink for the last 2ish years, since the Usmanov sanctions, and 777 never seemed like an adequate owner, but this is another level of bad. This timeline is and example of how sugar daddies treat their toys when they're done with them.

Interest rates are crazy high, and debt servicing is killing us without the horrid terms any potential lenders will be offering. I worry our offers now will be in the territory of selling the stadium as close to break even as possible, and leasing it back on less than ideal terms. The greedy fucks whom could buy our club are not the benevolent type. Terrible terms however, are better than the club going into administration. Administration is too near to insolvency with our debt load. 

[RuffRob]

1 hour ago, Palfy said:

I may be wrong but I thought they had been given the green light from the PL as long as they met a couple of stipulations, one being the 158 million back to MSP, or have I miss read or got mixed up. 

It is appearing that 777 can't pay the bills at other companies they own, never mind pull together £158m, plus £60m working capital, plus enough money to finish a stadium. 

they are not going to meet those stipulating to be ratified as fit and proper owner.

PL comments you refer to where also made before a Belgium and Brazilian club under ownership has just turned to shit for them.

A lot has changed in the month since PL comments.

 

[Gwlad]

2 hours ago, Hafnia said:

Told ya. As ludicrous as it sounds that's what they do. They will approve if conditions are met. 
 

Personally I think it's a joke, they should be keeping clubs safe..... well that's what psr does right? 

But we are Everton. Points deduction didn't work, put us out of business.

[Palfy]

1 hour ago, RuffRob said:

It is appearing that 777 can't pay the bills at other companies they own, never mind pull together £158m, plus £60m working capital, plus enough money to finish a stadium. 

they are not going to meet those stipulating to be ratified as fit and proper owner.

PL comments you refer to where also made before a Belgium and Brazilian club under ownership has just turned to shit for them.

A lot has changed in the month since PL comments.

 

I agree it has yet Moshiri is still holding out for them to come up with the money and complete the deal, so if by some miracle they found the money then they could potentially still buy the club without any intervention to stop them from the PL. 

Im of the opinion like most that they won’t find the money so it won’t go anywhere, but to think that there is still a possibility that they could still own us no matter how slim is still a worrying prospect. 

[Goodison Glory]

I thought another company (debt restructuring) were putting up the money for the stadium completion.

not sure of the terms, and it's ultimately more debt than we have today but hopefully at better interest rates (in the short term at least)

 

[Cornish Steve]

10 hours ago, Matt said:

Well not at the moment. He's got an agreement with a company that has no money but does have exclusivity

For just two weeks. You can bet your bottom dollar there are other consortia/potential owners about to step in. I'm quite upbeat about the situation. Just imagine if the PL had approved, 777 were already new owners, and then these proceedings in Belgium and elsewhere took place. We may be frustrated by the delay, but it's definitely saved us from a worse situation.

[Matt]

2 hours ago, Cornish Steve said:

For just two weeks. You can bet your bottom dollar there are other consortia/potential owners about to step in. I'm quite upbeat about the situation. Just imagine if the PL had approved, 777 were already new owners, and then these proceedings in Belgium and elsewhere took place. We may be frustrated by the delay, but it's definitely saved us from a worse situation.

So far as I read, they pretty much have. It's just that 777 have no money. 

[Palfy]

5 hours ago, Cornish Steve said:

For just two weeks. You can bet your bottom dollar there are other consortia/potential owners about to step in. I'm quite upbeat about the situation. Just imagine if the PL had approved, 777 were already new owners, and then these proceedings in Belgium and elsewhere took place. We may be frustrated by the delay, but it's definitely saved us from a worse situation.

They have approved with stipulations that 777 are struggling to meet, and Moshiri seems set on giving them more and more time to raise the money, and I question why he keeps moving the goal posts for them, something is terribly wrong between him and 777 just don’t know what.