Board/Owners Related Stuff

[London Blue]

Just now, Matt said:

Who represented 70% of the actual staff I believe 

Indeed. The unsung heroes without whom the club would not be!

[Newty82]

29 minutes ago, patto said:

I’m not for or against 777 but intrigued to know who these employees are that would suffer. 
not the millionaire footballers surely 

Admin, marketing, cleaners, retail, kitchen, groundsmen...

There's about 700 employees. And a further 1000ish casual staff.

Surely you don't think a Premier League football club only has 'millionaire footballers' to pay???

[patto]

47 minutes ago, Matt said:

Who represented 70% of the actual staff I believe 

Have we been in the situation of people not being paid have we been anywhere near it I doubt it all we have is negative press about our club. 

[Matt]

10 minutes ago, patto said:

Have we been in the situation of people not being paid have we been anywhere near it I doubt it all we have is negative press about our club. 

That's what part of what the 777 money is currently for as I understand. Moshiri closed the taps off.

[MikeO]

8 hours ago, Palfy said:

The thing I find most unsavoury about this whole thing is that Moshiri would rather see his employees go without wages and their families suffer, rather than take onboard the responsibility for the shit show he has created and keep the club afloat. 

I've not seen anything to suggest that would have potentially happened, did I miss something?

Once the sale was agreed in principle 777 put money in as part of the deal, that doesn't mean that if there was no buyer in place he'd have stopped paying the bills...as far as I'm aware anyway

[patto]

1 hour ago, Newty82 said:

Admin, marketing, cleaners, retail, kitchen, groundsmen...

There's about 700 employees. And a further 1000ish casual staff.

Surely you don't think a Premier League football club only has 'millionaire footballers' to pay???

I’m not sure we have that many employees if you take out the footballing side of it and do you think in the last 8 months or so they have been worried about if they get their paycheque 

[RuffRob]

8 hours ago, Palfy said:

The thing I find most unsavoury about this whole thing is that Moshiri would rather see his employees go without wages and their families suffer, rather than take onboard the responsibility for the shit show he has created and keep the club afloat. 
I have no idea what his going on with the PL and 777 yet without the 200 million 777 have put into the club we would have gone into administration long before now and with a another possible 9 points deduction would more than likely be playing Championship football next season, I don’t understand why so many have a problem with 777 just think where we might have been without their commitment and investment to buying the club. 

I agree that 777 are showing commitment - and I generally have a glass half full view of new potential new owners.

But them putting the money in monthly must be part of this 'exclusivity' deal they have for buying it - the 'deal' was agreed back in September. By the sounds of it the reason the deal has not yet been ratified and then signed sealed and delivered is that 777 have not demonstated they have enough money available just yet to meet the rules of buying a PL club (fortunately rule which are there to protect us in the short term) - ball is in 777's court to sort there end out.

If 777 Partners couldn't find the money (to meet what I would think is contractually there obligation at the moment), then who's to say Moshiri would not have covered operating costs (if the 777 deal essencially collapses) - otherwise the administrators come it and a lot of people lose a lot a money - which is not going to happen based on all the things I have read. I am no Moshiri fan, but it's a little much calling him out and saying he would rather see his employees go without wages and their families suffer. 

The fact this is all taking so long is purely 777's fault, for not having adequate funding in place to commit the best part of a £1Billion to buy a PL football club of Evertons size. 

[Romey 1878]

 

[RuffRob]

12 minutes ago, Romey 1878 said:

 

but simply saying an insolvency firm have come in sound so much better in a news article!! 

[Palfy]

1 hour ago, MikeO said:

I've not seen anything to suggest that would have potentially happened, did I miss something?

Once the sale was agreed in principle 777 put money in as part of the deal, that doesn't mean that if there was no buyer in place he'd have stopped paying the bills...as far as I'm aware anyway

I read that wages were not going to be paid this month had 777 not put 16 million in at the death to once again keep us afloat, that would suggest to me that Moshiri is standing by his word that he is not prepared to put any more of his own money into the club. 

[Palfy]

2 hours ago, patto said:

I’m not for or against 777 but intrigued to know who these employees are that would suffer. 
not the millionaire footballers surely 

The staff who work in the background, admin, physios, grounds men & women, catering, cleaners, the list goes on these people aren’t millionaires and most will have rent and mortgages to pay and children to care for, they are the ones who are going to suffer the most. 

[RuffRob]

 

1 hour ago, Palfy said:

I read that wages were not going to be paid this month had 777 not put 16 million in at the death to once again keep us afloat, that would suggest to me that Moshiri is standing by his word that he is not prepared to put any more of his own money into the club. 

There is lots of stuff to read - most is just scare mongering media, and simply suggesting that Moshiri will just let the club go in to administration rather than see the bills paid. That is not on the card becasue there is no real need for all those entities who have 100's of millions invested in Everton FC to lose a good chuck of there money, Moshiri losing the most as he will be at the very back of the que as any administrator divies us up to creditors. Moshiri has little choice if 777 simply fail.

My guess is if 777 miss a payment, then they lose the exclusivity they are currently afforded to buy this club. After working so hard to get in the position they are in, they will do all they can to remain in the boss seat to buy the club.

If there has been a whiff of 777 struggling to meet payments they are currently obliged to pay, then its no suprise to have been reading stories this past week of companies being consulted about sounding out alternative buyers/investor to 777, or restructor the debt profile. The heat is on 777 to get this all sorted out or they will have missed their opertunity.  

That the way I see it. 

 

[MikeO]

2 hours ago, Palfy said:

I read that wages were not going to be paid this month had 777 not put 16 million in at the death to once again keep us afloat, that would suggest to me that Moshiri is standing by his word that he is not prepared to put any more of his own money into the club. 

Where did you read that? All sounds very alarmist to say things like "at the death" but 777 were actually just making a payment that they'd agreed to make as far as I can see, and making it on time.

777 are dodgy for sure and these are worrying times, but keep it real

 

[Matt]

1 minute ago, MikeO said:

Where did you read that? All sounds very alarmist to say things like "at the death" but 777 were actually just making a payment that they'd agreed to make as far as I can see, and making it on time.

777 are dodgy for sure and these are worrying times, but keep it real

 

The payment is to keep the club running because the current owner won't is my understanding 

[MikeO]

Just now, Matt said:

The payment is to keep the club running because the current owner won't is my understanding 

Understanding from what source?

[Matt]

7 minutes ago, MikeO said:

Understanding from what source?

Well why else would Moshiri laden the club he's trying to sell with more debt when he's easily capable of funding the running himself?

[MikeO]

4 minutes ago, Matt said:

Well why else would Moshiri laden the club he's trying to sell with more debt when he's easily capable of funding the running himself?

That's a source?

[RuffRob]

39 minutes ago, Matt said:

The payment is to keep the club running because the current owner won't is my understanding 

As owners in waiting the 'deal' has obviosley been that 777 Partners fund the club running/ ongoing stadium build until paperwork is all sign sealed and delivered on the deal.

It will not be simple becasue the owners won't pay, it will be becasue that's what the current agreement is between 777 and Moshiri. 

Situations changes if Moshiri is back to square one in any sale of the club - he'll have to sort out ongoing payment in another way, (plus have a 777 loan on the books) but we are not at this stage - yet.

[RuffRob]

40 minutes ago, Matt said:

Well why else would Moshiri laden the club he's trying to sell with more debt when he's easily capable of funding the running himself?

As a stadium is being built there is obviosley going to be debt - for somebody.

Moshiri is halfway out the door and 777 halfway in - it makes perfect sence for 777 to contol the ongoing debts, as the current plan is for them to run with it as the new owners.

If the sale now falls through, then is was probably the wrong desision to manage the ongoing debt that way. But guess thats why the club have brought the refinancing expert in, to better package our varying debts we hold with different entities to make potential future sale a bit easier.

Ongoing debt is inevitable when building a £700m stadium, greater debt just means the additoanl construction costs to a new owner will be lower. Be it Debt or outstanding build costs it will all be factored in already to club value.  

[Matt]

1 hour ago, RuffRob said:

As owners in waiting the 'deal' has obviosley been that 777 Partners fund the club running/ ongoing stadium build until paperwork is all sign sealed and delivered on the deal.

It will not be simple becasue the owners won't pay, it will be becasue that's what the current agreement is between 777 and Moshiri. 

Situations changes if Moshiri is back to square one in any sale of the club - he'll have to sort out ongoing payment in another way, (plus have a 777 loan on the books) but we are not at this stage - yet.

Fair enough. I'm not that confident in our owner when it comes to finances so I'm biased. 

[Matt]

2 hours ago, MikeO said:

That's a source?

That's called critical thinking apparently

 

[MikeO]

22 minutes ago, Matt said:

That's called critical thinking apparently

I thought it was called bollocks

[Palfy]

3 hours ago, MikeO said:

Where did you read that? All sounds very alarmist to say things like "at the death" but 777 were actually just making a payment that they'd agreed to make as far as I can see, and making it on time.

777 are dodgy for sure and these are worrying times, but keep it real

 

I’ve been trying to find it, it was a 2-3 days ago if I do you’ll be the first to receive it. 
Can I ask what you mean by “but keep it real ” 

[dunlopp9987]

I'm too lazy to read through the last two pages to get caught up, can someone summarize in 3 words for me?

[Romey 1878]

Just now, dunlopp9987 said:

I'm too lazy to read through the last two pages to get caught up, can someone summarize in 3 words for me?

As you were.

[dunlopp9987]

9 minutes ago, Romey 1878 said:

As you were.

Should be the club's new motto

[Gwlad]

In March, the board of the Premier League said it was “minded” to accept 777 Partners's deal if it met a series of conditions. If it now collapses, Everton could fall into administration, meaning a penalty of nine points.11 hours ago

 

Super-Rich English Premier League Risks Sleepwalking Into ...

Bloomberg

 

Article behind a paywall. Could this be the PL trying to get at us another way by delaying a decision?

[MikeO]

3 hours ago, Palfy said:

Can I ask what you mean by “but keep it real ” 

Just don't present conjecture as fact, for example...

"The thing I find most unsavoury about this whole thing is that Moshiri would rather see his employees go without wages and their families suffer."

"...these people aren’t millionaires and most will have rent and mortgages to pay and children to care for, they are the ones who are going to suffer the most." 

Personal thoughts and opinions are fine obviously, but those are speculation

[Palfy]

44 minutes ago, MikeO said:

Just don't present conjecture as fact, for example...

"The thing I find most unsavoury about this whole thing is that Moshiri would rather see his employees go without wages and their families suffer."

"...these people aren’t millionaires and most will have rent and mortgages to pay and children to care for, they are the ones who are going to suffer the most." 

Personal thoughts and opinions are fine obviously, but those are speculation

They weren’t particularly my personal opinions they were the opinions in the article I read, everything that’s been discussed and posted on here is conjecture no one knows what’s fact or just conjecture from another source not even you Mike, but based on past case history on this thread you must believe other posts and articles are fact because you haven’t once questioned them. 
This is a fact for you mate you won’t stop people discussing or posting things that they have no concrete evidence or proof that they are fact, but what makes them relevant is that they have been printed by other sources that may have a better understanding as to what is happening surrounding the club and its issues. 
But I look forward to seeing you dismiss most posts on here, because just scouting through a few it’s a common practice that people are posting in the same way. 
If anything it should keep you busy for a while

[MikeO]

1 hour ago, Palfy said:

They weren’t particularly my personal opinions they were the opinions in the article I read, everything that’s been discussed and posted on here is conjecture no one knows what’s fact or just conjecture from another source not even you Mike, but based on past case history on this thread you must believe other posts and articles are fact because you haven’t once questioned them. 
This is a fact for you mate you won’t stop people discussing or posting things that they have no concrete evidence or proof that they are fact, but what makes them relevant is that they have been printed by other sources that may have a better understanding as to what is happening surrounding the club and its issues. 
But I look forward to seeing you dismiss most posts on here, because just scouting through a few it’s a common practice that people are posting in the same way. 
If anything it should keep you busy for a while

You're missing my point completely. No problem whatsoever with people quoting what they've read or their opinion of things, site would shut down otherwise.

My problem, on this occasion, was you couching what you've read and what you think about it as fact ("Moshiri would rather see his employees go without wages" "they are the ones who are going to suffer") when you have absolutely no way of knowing that.

Politician A..."....the Rwanda policy will reduce small boat crossings!" Ridiculous statement.

Politician B..."...I think the Rwanda policy will reduce small boat crossings," Stupid but a perfectly acceptable thing to say.

It's actually very rare that people post their unsubstantiated opinion as solid fact on here, very far from "most posts", and if I see it I'll call it out. I really don't understand why you're making such a big deal of it, it was just three words