MSP don’t want to own a or our football club, apparently
pfim
Player Valuation: £35m
I'm not doubting this, but where is it being reported?
Is Moshiri going to have to dip into his own pocket for the first time in his life to pay this MSP loan back or what? Oh strewth, however will he live *faints*
Well only from people like John blain on toffee TV and im
Sure the Bobble also said it on a podcast yesterday
The thing is mate if 5 years ago the plan was for a 3rd party to fund and build BMD then lease it back to us although still being dubious about it I could have seen the possible benefits and supported it. I was baffled by how we could afford to do this on our own.
That's not what happened though, it's been taken on in its entirty by EFC at the detriment of everything else and left us with unimaginable toxic debt and a very poor rudderless squad. We are forced to sell our best talent and fell foul of FFP because of it too. After all this to think we may still have to lease it from a 3rd party is sickening. Nothing more nothing less. It is mis management of an incredible scale.
I'd honestly say he has no choice. If he can find the cash he'd have too.
I hope his pockets get well and truly emptied.
Great post mate, 100%
TheAlmightyFloater
Player Valuation: £30m
Ok so as I (barely) understand it:
MSP tried to buy a stake in the club which RMF vetoed.
Then 777 come on the scene and are immediately recognised by literally everyone except the Premier League as dodgy.
777 and the PL have then fumbled their way along the "fit and proper" test route with more dodgy loans, shady financials and murky details at best.
All the way through to the present month, which just so happens to be the deadline for repaying MSP's original loan - failure to do so will result in MSP gaining a majority share in the club and becoming basically the new owners.
777 can't pay that debt (or so it seems) and have asked for an extension and it's up to MSP to decide how they want it to play out from here.
Here's my theory (which may or may not already be discussed earlier in the thread - I don't have time to read through all the pages):
This was all a part of MSP's plan to gain the majority of shares at a major discount. They'll "forgive" 777 debts (which 777 was never supposed to pay back anyway) and assume 50%+1 of the shares as a result of last years loan conditions.
MSP and 777 are in cahoots, as 777 need cash to fund their other interests and MSP wanted Everton + Stadium for much less than it's worth, freeing up money to invest in the stadium and team.
Question - if 777 fail to pay and MSP become majority shareholders, does this bypass the "fit + proper" ownership conditions as they have basically just taken control of an asset they were legally obligated to own as a result of the loan conditions?
I'll take my tinfoil hat off for a second so someone more knowledgeable than I can tell me exactly why I'm talking nonsense.
MSP tried to buy a stake in the club which RMF vetoed.
Then 777 come on the scene and are immediately recognised by literally everyone except the Premier League as dodgy.
777 and the PL have then fumbled their way along the "fit and proper" test route with more dodgy loans, shady financials and murky details at best.
All the way through to the present month, which just so happens to be the deadline for repaying MSP's original loan - failure to do so will result in MSP gaining a majority share in the club and becoming basically the new owners.
777 can't pay that debt (or so it seems) and have asked for an extension and it's up to MSP to decide how they want it to play out from here.
Here's my theory (which may or may not already be discussed earlier in the thread - I don't have time to read through all the pages):
This was all a part of MSP's plan to gain the majority of shares at a major discount. They'll "forgive" 777 debts (which 777 was never supposed to pay back anyway) and assume 50%+1 of the shares as a result of last years loan conditions.
MSP and 777 are in cahoots, as 777 need cash to fund their other interests and MSP wanted Everton + Stadium for much less than it's worth, freeing up money to invest in the stadium and team.
Question - if 777 fail to pay and MSP become majority shareholders, does this bypass the "fit + proper" ownership conditions as they have basically just taken control of an asset they were legally obligated to own as a result of the loan conditions?
I'll take my tinfoil hat off for a second so someone more knowledgeable than I can tell me exactly why I'm talking nonsense.
I think it all depends on if Moshiri remains the major shareholder.
777 are dead in the water now - Plan B Mr Moshiri if you have one .....
pfim
Player Valuation: £35m
If I thought the esk knew what he was talking about, I’d say he is scaremongering. But he clearly doesn’t.
TheAlmightyFloater
Player Valuation: £30m
Would he though if MSP own 50%+1?
He's then free to sell the rest of his shares to the next highest bidder knowing there's no PL test to become the 2nd biggest shareholder.
And the club's value would increase if MSP can right the ship and fund the stadium so he might get more for half his shares than MSP paid for the 50%+1.
