Moderatelywarmwater
Player Valuation: £10m
But ACAP stopped being able to fund 777 several months ago. So is this actually right? Do we know it to be true?
IllinoisBlue
Player Valuation: £10m
Maybe he is ok with 777 bunging in 20m every few weeks to cover operating costs, rather than having it come from his own pocket?
This situation could be resolved today IF…
If all the other main creditors - MSP, Metro Bank, Rights &Media Funding, Andy Bell and George Downing - were to get together and agree to in effect work together to force Moshiri’s hand.
With 777 clearly being a basket case of an outfit and unable to continue to provide any further funding due to the court cases piling up against them and their known liquidity issues, other than injecting more capital himself, which he clearly isn’t willing to do or unable to do, Moshiri would basically have no other option than to cede to the demands of the other creditors and open himself up to other parties.
It’s actually in the hands of the other major creditors… work together for a mutually beneficial solution.
If all the other main creditors - MSP, Metro Bank, Rights &Media Funding, Andy Bell and George Downing - were to get together and agree to in effect work together to force Moshiri’s hand.
With 777 clearly being a basket case of an outfit and unable to continue to provide any further funding due to the court cases piling up against them and their known liquidity issues, other than injecting more capital himself, which he clearly isn’t willing to do or unable to do, Moshiri would basically have no other option than to cede to the demands of the other creditors and open himself up to other parties.
It’s actually in the hands of the other major creditors… work together for a mutually beneficial solution.
Evertonthat
Player Valuation: £8m
Moshiri really is crusifying us with this takeover isn't he!
jimmythenut
Player Valuation: £8m
Without knowing anything about how these takeovers work. The way I see it, Moshiri is sitting with majority shares, waiting to exit with as much of his cash as possible.
The next Sky payments and potential sales of Braithwaite and Onana and Pickford could generate this Liquidity, a far greater sum he's going to get for the price of his shares. So for the short term, having 777 pay the bills until the season ends and until the transfer window opens, my opinion this just drags on.
Blue Smoke
Player Valuation: £1.5m
Would MSP accept a payment of 158 million off 777 now anyway?, as in theory its not theirs (777) to give away and some lender/business/who knows, might harp up that its their money and they want it back.
Haydn
Player Valuation: £10m
I follow an airline forum, to learn about new routes and hopefully bag cheap fares before they become well known.
A thread has been opened about the 777 backed Bonza airline collapse. It seems well informed, by folk who understand the Oz airline business and finance.
The whole business venture sounds completely crazy, there’s so many loony / dodgy strokes (alleged) that any other outcome than going bust would seem impossible.
The basic business plan was to provide low cost flights, on routes not served by other airlines, (mainly because there was no demand)
If it ever stood a chance of succeeding, it would have to be based on filling low capacity turbo prop aircraft.
777 then signed a deal with Boeing to buy 10 of their 737 jets, each with a capacity of 170, way beyond what could ever be sold on their chosen routes.
There are so many (alleged) blags, including trading and continuing to sell tickets when they knew they were already bust and planning to fly their planes out of Oz before pulling the plug, so they didn’t get impounded.
There’s way too much detail to fit in this thread, but it’s beyond belief that if such info is so readily available, why did Mosh even give them the time of day and continue to do so ? Surely the most basic due diligence check would come back with a big red Pffft Swerve These Immediately rating.
Even with the Mosh’s business track record, the reported exclusivity deal must have get out clauses in the event of reputational risk, let alone alleged criminal malpractice.
As for the EPL, surely they should also be seriously challenging Mosh, that he must be having a giraffe trying to sell to 777 and to sort his act out, if he actually wants to sell.
As many have said, the whole deal doesn’t appear to make any sense.
Anybody with time to kill, here’s the thread. https://www.pprune.org/australia-new-zealand-pacific/658931-rip-bonza-6.html
A thread has been opened about the 777 backed Bonza airline collapse. It seems well informed, by folk who understand the Oz airline business and finance.
The whole business venture sounds completely crazy, there’s so many loony / dodgy strokes (alleged) that any other outcome than going bust would seem impossible.
The basic business plan was to provide low cost flights, on routes not served by other airlines, (mainly because there was no demand)
If it ever stood a chance of succeeding, it would have to be based on filling low capacity turbo prop aircraft.
777 then signed a deal with Boeing to buy 10 of their 737 jets, each with a capacity of 170, way beyond what could ever be sold on their chosen routes.
There are so many (alleged) blags, including trading and continuing to sell tickets when they knew they were already bust and planning to fly their planes out of Oz before pulling the plug, so they didn’t get impounded.
There’s way too much detail to fit in this thread, but it’s beyond belief that if such info is so readily available, why did Mosh even give them the time of day and continue to do so ? Surely the most basic due diligence check would come back with a big red Pffft Swerve These Immediately rating.
Even with the Mosh’s business track record, the reported exclusivity deal must have get out clauses in the event of reputational risk, let alone alleged criminal malpractice.
As for the EPL, surely they should also be seriously challenging Mosh, that he must be having a giraffe trying to sell to 777 and to sort his act out, if he actually wants to sell.
As many have said, the whole deal doesn’t appear to make any sense.
Anybody with time to kill, here’s the thread. https://www.pprune.org/australia-new-zealand-pacific/658931-rip-bonza-6.html
The answer to that is really simple - it's because they offered him way more for his stake than anyone else would.
As the rest of your post - and countless other articles posted elsewhere - attest, these guys are absolute charlatans that exist on the edge of viability - and the law - to squeeze out whatever they can for themselves as they juggle assets and thread loopholes.
It looks like raising the finance to buy Everton may be the straw that finally makes their house of cards collapse. Fortunately it seems to have happened before they were able to get control of the club - but I'm not counting any chickens until either this deal or 777 are formally dead.
kimonthemac_efc
Player Valuation: £950k
Agree mate, I follow commercial aviation a lot and the airline is just weird, very badly run everything seems ofd about it. What a mess we are in
stamullenblue
Player Valuation: £20m
From the money they owed to other people !
….its not real, it’s Monopoly Money to those people.
NeilMorepies
Player Valuation: £2.5m
They will have borrowed it from another one of their companies. That’s the way it works, the money they have is constantly on the move around their companies to hide how little they actually have, whilst overinflating the value of their assets.
Hence all the fraud charges.
Everyone following?
hallamblue
Player Valuation: £40m
They can't do that. They've loaned money on certain payment terms. If those payment terms are met they can't act against Moshiri. It's like the bank repossessing your house when you've paid your mortgage every month, it wouldn't be allowed.
bernie inn
Player Valuation: £6m
So 777 are keeping the club running with their monthly payments, 777 are borrowing money to pay this, many business's it appears are now reclaiming their money from 777. Am i right in thinking that the people who 777 have borrowed off can't actually chase us for money, what 777 can claim back outside of owning the club will be tied up in the contracts between Mosh and 777. We may ( and this would be very unusual for Everton) get away with this with minimal impact have had all of our monthly payments made for the last 8 months.
