777 Partners / Whatever the hell you like

[mccole]

"The Premier League has sought answers on a number of topics from 777 as it conducts its owners’ and directors’ test, and the latest questions relate to the source of funding and the company’s ability to fund the club on a three-year basis. 777 feels it has previously provided the information but intends to do so again."

 

[ForeverEverton]

 

[EFCPaul]

Sorry but how after 6 months have these bozos still not proved their funding

They have none of their own working capital. Josimar have uncovered that 777's entire business is being propped up by an American insurance firm called A-CAP. The loans they're providing us with are simply loans that they're taking out with A-CAP. A classic case of 'robbing Peter to pay Paul'. And there's a 12.75% interest rate to boot. Them being able to repay A-CAP is totally reliant on them attaining us and then selling off assets (e.g. the stadium). There is no intention of providing us with any capital for transfer business, at least not in the short-to-medium term. And even then we have other lenders to repay as well.

If this deal doesn't go through the entire 777 Group will basically go insolvent. As is it they're already missing payments to their employees, have had to make massive cuts across the board in the last few months and are being served with lawsuits related to non-payment seemingly every other week. No wonder the Chief Operating Officer has decided to scarper.


We are well and truly up poo's creek without a paddle and Moshiri is firmly to blame. The only hope is that the 777 are chased and new bidders emerge (Josimar say there is at least 1 seriously interested party). It seems short-term pain is unavoidable at this point, but long-term the club's very survival is in massive danger. Being handed over to this lot is a good as a death knell because they shown clearly and repeatedly that all their add to a business is further damage.

 

[pfim]

Sorry but how after 6 months have these bozos still not proved their funding

In the same way I can’t prove I have a 12 inch dong.

 

[pfim]

"The Premier League has sought answers on a number of topics from 777 as it conducts its owners’ and directors’ test, and the latest questions relate to the source of funding and the company’s ability to fund the club on a three-year basis. 777 feels it has previously provided the information but intends to do so again."

They’re handing in the same homework again? Wonderful.

 

[kenada_blue]

Behave yourself… if Moshiri either chooses or refuses to entertain negotiations from other ‘interested parties’ then there’s nothing they can do.

So, they would wait and then if the club went into administration because neither Moshiri nor 777 can or are prepared to continue to fund the day to day running of the club, they would negotiate with the Administrators.

This isn’t about other parties being mercenary sharks… remember it is Moshiri who has put us in this position, he gave his backing and put his faith in 777 and they are failing. And with R&M Funding having scuppered the MSP approach for the club, ask yourself who first got R&M involved with funding the club… and at over the odds rates of interest.

Our situation is not on ‘interested parties’ - it’s entirely down to Moshiri, the previous Chairman and the inept BoD.

Which is exactly what I've said before, Moshiri's put the club in this position.

My response is purely down to talk of these "rival" bidders/investors who are "sensible" waiting in the wings.

These sensible rival investor white knights will only save the club after the its died as they don't have the means to pay Moshiri's nonsensical valuation. And surely they won't do what 777 want to do...but cheaper? Surely? *Runs chin.

 

[Neiler]

Good, get lost.

 

[AndyC]

Which is exactly what I've said before, Moshiri's put the club in this position.

My response is purely down to talk of these "rival" bidders/investors who are "sensible" waiting in the wings.

These sensible rival investor white knights will only save the club after the its died as they don't have the means to pay Moshiri's nonsensical valuation. And surely they won't do what 777 want to do...but cheaper? Surely? *Runs chin.

Nobody has any true idea of the means available to ant other interested party.

The apt point you do make though is Moshiri’s nonsensical valuation.

 

[trueblue84]

Nobody has any true idea of the means available to ant other interested party.

The apt point you do make though is Moshiri’s nonsensical valuation.

Could moshiri accept a lower valuation but keep the new stadium and lease it back to us at an inflated rate?

 

[kenada_blue]

Don’t be blinded by the large numbers, Boehly and Ineos are there to make money.

You have ever growing television fees, and FFP is giving these owners a cost certainty they never had before.

In the past you’d only make money ona capital gain selling a club. Now it will be generating real cash with the capital gain to boot.

Those two aren’t overpaying.

They did overpay - one part to clear Chelsea's debt, the other was a game to see how much the owners could get away with.

On a basic level, solely they would never make that back and they won't. It's not 'sensible'. But that's not their game.

Their game is to boost their egos and the other companies they own. They already increase the clubs valuation after buying it. TV money increases with or without them. It's the notion of having a company that makes hundreds of millions a year guaranteed and being part of "sport" long term.

How long does Boehlys patience or investment last if Chelsea don't get champions league football in the next 3 years? For example.

 

[kenada_blue]

Nobody has any true idea of the means available to ant other interested party.

The apt point you do make though is Moshiri’s nonsensical valuation.

Exactly. But my original point comes from The Esk and Josimar who state there is a rival in the wings, and that the 777 dealing falling through would be better long term.

All of that is complete guess work.

 

[Goat]

They did overpay - one part to clear Chelsea's debt, the other was a game to see how much the owners could get away with.

On a basic level, solely they would never make that back and they won't. It's not 'sensible'. But that's not their game.

Their game is to boost their egos and the other companies they own. They already increase the clubs valuation after buying it. TV money increases with or without them. It's the notion of having a company that makes hundreds of millions a year guaranteed and being part of "sport" long term.

How long does Boehlys patience or investment last if Chelsea don't get champions league football in the next 3 years? For example.

I honestly dont think he knows what CL football is.

 

[mikel_88]

Think os fair to be worried about them just getting out of a bad ownership with moshiri because of over spending. While with 777 is the other way i am worried about what they will do with the money and the stadium i am most scared about. Just want to keep that in the clubw hands

 

[pfim]

They did overpay - one part to clear Chelsea's debt, the other was a game to see how much the owners could get away with.

On a basic level, solely they would never make that back and they won't. It's not 'sensible'. But that's not their game.

Their game is to boost their egos and the other companies they own. They already increase the clubs valuation after buying it. TV money increases with or without them. It's the notion of having a company that makes hundreds of millions a year guaranteed and being part of "sport" long term.

How long does Boehlys patience or investment last if Chelsea don't get champions league football in the next 3 years? For example.

FFP will soon dictate that player wages, fees and agent fees will be capped at 70% of revenue.

That gives them guaranteed profits without having to play an arms race with anyone else as they’re all in the same boat.

This isn’t ego driven in the way you suggest. This is all about money.

They’ll make that back in spades.

The Glazers bought United for 780 million pounds in 2005. Essentially ran it into the ground and just closed on a sale that values the club at $5.4 billion. This is all about profits and money.

 

[kenada_blue]

FFP will soon dictate that player wages, fees and agent fees will be capped at 70% of revenue.

That gives them guaranteed profits without having to play an arms race with anyone else as they’re all in the same boat.

This isn’t ego driven in the way you suggest. This is all about money.

They’ll make that back in spades.

The Glazers bought United for 780 million pounds in 2005. Essentially ran it into the ground and just closed on a sale that values the club at $5.4 billion. This is all about profits and money.

Of course its about money. Like the glazers example...they pay high and do little to then make money.

The issue then becomes investment and performance over time. That effects their pockets.

Chelsea for eg have bought high. They just going to sit back and cream profit while they sit midtable the foreseeable? No. Chelsea need success, that still needs more investment. Investment hurts profit unless there's success. So they either sit back or act...which is where the ego comes in.

Not all clubs have the capability to live off the institution like the Glazers. Boehly will find that out in few more seasons.