777 Partners - New Poll Added 18/10/23

[maccavennie]

Hopefully not an in before the Mic Drop......

The crisis created by Moshiri deepens – is administration an option?

Warren Buffet once said “Time is the friend of the wonderful company, the enemy of the mediocre.” Time is certainly running out for Everton. Hamstrung by the indifference and intransigence …

theesk.org

So the jist of the article is we should seriously consider going into administration, whilst at the same time remain a PL club as that's vitally important.

Whats another 9 point deduction when we've already had a 6 point deduction with another one pending.

 

[BrendanGOT]

Fair dues to Chico, I don't know what he does for a living but the number of multis and the number of platforms really is a full time job.

Does he actually know who he really is anymore?

 

[Tony’s Carp]

Administration typically requires an event to be triggered. Missed debt payments, breaking loan covenants, payroll etc. There's no evidence of that anywhere (plenty of evidence of that with 777 and their group of companies, btw). A creditor isn't going to say "oh, you have too much debt, time for Administration."

Administration happens when you run out of cash to fulfill your current obligations. The club needed the 180 million to finish the stadium, regardless of where it came from. If they couldn't get that, construction would have stopped. Yes it was used for working capital as well, but that's because our typical working capital source (RM&F) was tapped out, likely due to stadium costs (regardless of what the loan docs say).

If the club finds itself in a situation where Administration is a viable option, that means that all else as failed:

• The club's shareholder will no longer fund
• External creditors are not willing to work with the club to restructure
• Other funding sources outside the club have been exhausted (investors, lenders)
• There are no other assets to sell to raise cash

We obviously do not have the whole picture, and because of that we can only speculate on the first three sources of cash.

We do understand the value of the liquid assets though (players) and can make some reasonable assumptions that if the club needed 100 million, it could probably raise it quickly in the summer window based on current information.

If Admin was likely, construction would have stopped and we would have sold players in January.

777 isn't going to force Admin, given there position in the hierarchy they would lose most if not all of their money.

Nine months ago Moshiri was willing to stay on with MSP and help them eventually take control of the club. He's not going anywhere until he can get some cash out of the club.

As worried as I am about the future (with or without 777) I've made this point also- ignoring "the noise" the business is still not displaying the external signs of imminent administration, for all that some seem to be touting, almost relishing, the prospect. If nothing else I doubt a business right on the brink of administration would send a large party of key staff on a week long all-expenses-paid holiday.

 

[pfim]

As worried as I am about the future (with or without 777) I've made this point also- ignoring "the noise" the business is still not displaying the external signs of imminent administration, for all that some seem to be touting, almost relishing, the prospect. If nothing else I doubt a business right on the brink of administration would send a large party of key staff on a week long all-expenses-paid holiday.

There's none. Many sensationalize the dollar amounts being borrowed but that's not a short-medium term issue. The Esk article, along with being incomprehensible and filled with meaningless financial jargon, just adds fuel to the fire.

And I agree with many here who say this shouldn't be part of following a football club. What I'd say to that is the most important and immediate financial help that can be provided is results on the pitch. If we get relegated, all bets are off.

 

[AndyC]

He knows nothing more than any single one of us mate.
He's advocating the club goes into administration yet then says the club needs to keep its Premier lge status.

Can someone please tell him administration is an automatic 9 point deduction , so obviously no Premier lge.

I pity the poor folk that hang on his every word as if he's some sort of clued up ITK , as his record shows ...He definitely isn't.

He is most definitely NOT advocating administration, he is making it abundantly clear that the likelihood or possibility of administration is very real.

 

[Tipp blue]

View attachment 248887
Is this a "Sean Promise?"

Only the next country that's going to be sanctioned.

 

[Exeter_Gently]

Bill Kenwright la...

 

[BigDunc'sFod]

View attachment 248887
Is this a "Sean Promise?"

I, for one, welcome our new Iranian oilverlord

 

[BrendanGOT]

He is most definitely NOT advocating administration, he is making it abundantly clear that the likelihood or possibility of administration is very real.

It seems he's saying he'd rather administration than 777 which is bonkers to me. None of us want 777 but cmon. He's played his hand there and as I've suspected he's confirmed to me that there's a small time consortium on the wings that want this all to fall through and want us to go bust to pick us up for a pittance.

 

[AndyC]

As a layman...does this mean the PL have got no power to stop it?

They cannot stop it, but they can and currently are choosing not to approve.

As the public lawyer and the Esk have said previously… until either 777 withdraw or Moshiri pulls the plug on them and enters into serious negotiations with other parties… we are in limbo.

 

[Tipp blue]

Sad as it'd be, we'd be better off going down now and coming straight back up next season, which would be likely.
That way, we could kick off at BMD in the Premier League.

The thought of going down next season, and bearing in mind that we aren't likely to strengthen the squad in the transfer market
for a couple of reasons, is scary because we would be starting our time at BMD in the Championship.

I would say right now that if we do go down we are not coming straight back up, if we held onto all our players we'd have a chance, but without Pickford Branthweight and Onana we would struggle to make the playoffs, thats not counting any others who'd head off..... If we go down we are down for a long time.

 

[caughtbythefuzz]

He is most definitely NOT advocating administration, he is making it abundantly clear that the likelihood or possibility of administration is very real.

I listen to most ttb pods and enjoy them, so thank you...

One thing that I often wonder (and I don't think I'm alone) is does Paul have any vested interests in any other interested parties that want to own our club, however insignificant?

 

[Ferguson1878]

I believe this fella

Hates isarael ? I like him already

 

[MACCA75]

If it was a computer game you would pull the plug at this point and start again.
Or re-load the saved version from 1987.

 

[Tony’s Carp]

It seems he's saying he'd rather administration than 777 which is bonkers to me. None of us want 777 but cmon. He's played his hand there and as I've suspected he's confirmed to me that there's a small time consortium on the wings that want this all to fall through and want us to go bust to pick us up for a pittance.

I don't believe YET we're in a 777 or administration situation but yes no matter how unpalatable 777 are administration is by a long way a worse immediate outcome.

Some of the worst things people fear 777 would do would be some of the first things an administrator would do.