777 Partners / Whatever the hell you like

[PeregrineT]

Esk above says almost word for word what ive been saying.



As a result at the end of 2023 Everton have approximate borrowings of £200 million to Rights and Media Funding (at base rate plus 5% per annum), £140 million to MSP and their limited partners, £20 million to Metro Bank (Everton’s bankers) plus an emergency funding of £100 million from 777 Partners – working capital provided monthly to meet the difference between income, operating costs and payments to the main stadium contractor Laing O’Rourke.

That’s £460 million outstanding with commercial rates of interest being charged.

In addition, there’s a further £150 million to be found to complete payments to Laing O’Rouke. Maintaining the payment schedule with Laing O’Rourke is critical. Defaulting on the existing contract is highly punative.


Its crazy how intelligent I am, how do I do it?

lol, you've now resorted to being in bed with Mr Always Wrong. The man who has been wildly wrong on just about every financial thing hes ever posted. Lets revisit in a year and see if we went into administration.

 

[Goat]

lol, you've now resorted to being in bed with Mr Always Wrong. The man who has been wildly wrong on just about every financial thing hes ever posted. Lets revisit in a year and see if we went into administration.

For the record, I have not once claimed we will enter Administration.

As Esk says, we have saleable assets, there is very little "need" or reason to enter Administration.

But nobody ever chooses Administration.

If you asked me what the likely outcome is, 3months from now, 12 months from now, I honestly do not have any idea.

But I think we need to realise that things are FUBAR.

 

[jonnyboy316]

For the record, I have not once claimed we will enter Administration.

As Esk says, we have saleable assets, there is very little "need" or reason to enter Administration.

But nobody ever chooses Administration.

If you asked me what the likely outcome is, 3months from now, 12 months from now, I honestly do not have any idea.

But I think we need to realise that things are FUBAR.

We could probably get 70-80m for Onana and Branthwaite in Jan and replace with a couple of loans. If the majority of that money is front loaded perhaps that can get us through to the end of the season

 

[Goat]

We could probably get 70-80m for Onana and Branthwaite in Jan and replace with a couple of loans. If the majority of that money is front loaded perhaps that can get us through to the end of the season

People are gonna have KITTENS about that price.

KITTENS.

 

[Simon Buttle]

We could probably get 70-80m for Onana and Branthwaite in Jan and replace with a couple of loans. If the majority of that money is front loaded perhaps that can get us through to the end of the season

You could get that for Branthwaite on his own

 

[roy vernon]

I want the nastiest, richest most diabolical owners to come in, flout the rules, stick 2 fingers up to the league / sky 6 with an army of top brass lawyers and get us success and let them all fume away.

Plucky old nice guy moralist Everton needs to end.

You know, I kind of guessed that was what you wanted.

 

[jonnyboy316]

You could get that for Branthwaite on his own

Yes in the summer if we are in a strong negotiating position but with the threat of administration we will have to complete a quick sale probably further discounted to get a favourable upfront payment structure

 

[hallamblue]

We could probably get 70-80m for Onana and Branthwaite in Jan and replace with a couple of loans. If the majority of that money is front loaded perhaps that can get us through to the end of the season

Just tell Chelsea Man United have offered £100 million for Branthwaite and they'll give us £120 million and give him a 12 year contract.

 

[riddick]

777 sound crap and broke

Honestly, it's the dumbest sounding name I can possibly imagine. It's like taking a product that is ubiquitous with broadcasting thoughts and changing it to a stupid fn letter like Y or...I dunno W.

 

[BoysPen71]

I have to be voice of reason on this speculative piece, all financial institutions use their customers balances to speculate in other markets. It's pretty much how the fiscal economics work, that and inter Bank lending etc.

If they have broken regs etc then maybe a story in it but I'm thinking it's a bit of a nothing burger.

And for the records, I don't want and don't think we should be anywhere near 777.


*I may need to read the article again to see if I've missed anything but hardline investment tactics are not necessarily illegal.

Hardline tactics may not be illegal, but they lack real integrity and have one sole objective, profit for their shareholders. Most of these investors have no idea about football itself and the money goes far away from here, (not to mention the heavy promotion of gambling and the much bigger impact on the working class). Joining that club means you can sack all your protest songs and the Grand Old Team all together.

 

[Tipp blue]

We could probably get 70-80m for Onana and Branthwaite in Jan and replace with a couple of loans. If the majority of that money is front loaded perhaps that can get us through to the end of the season

I assume you mean each.. 140-160 million.

 

[Martin Alvito]

The latest from Semafor…

777 Partners, the sports investor whose finances are under scrutiny as it tries to pull off its biggest deal yet, the purchase of Premier League’s Everton, is scrambling to sell businesses it owns to raise cash and reassure regulators.

The firm has been unable to produce audited financial statements and is facing a cash crunch in several of its businesses. In recent weeks, it has tried to restructure a €100 million Italian tax bill, seen airplanes at a budget carrier it owns seized by creditors, and failed to fund employees’ pension contributions at a London professional basketball team it owns, according to people familiar with the matter.

777 has been shopping its mortgage business, a pile of legal settlement claims, and Boeing aircraft owned by a Canadian budget carrier it operates, according to people familiar with the matter and presentations viewed by Semafor.

The effort will also help disentangle 777’s captive insurance company, which has bankrolled many of its investments. Authorities in Bermuda have warned the insurer that it’s too heavily invested in 777’s deals, people familiar with the matter said. Those financial ties also sparked a downgrade last month from a credit-rating agency, which cited “governance and risk management practices.”

777 agreed to sell some of those investments, according to the agency, AM Best, and appears to be doing that now.

For sale: an Ohio-based company that recruits potential beneficiaries of legal settlements, which 777 told possible buyers has $250 million coming its way from cases against Blue Cross Blue Shield, chicken antitrust, and an Indian drugmaker accused of delaying the release of generic drugs, documents show. The firm is also trying to sell a mortgage business, which has been heavily financed by 777’s captive insurer, according to documents shown to potential acquirers.

“With a portfolio featuring more than 60 businesses, evaluating businesses for sale is a regular part of the private investment model,” a 777 spokesman said. “We regularly entertain offers for various assets and strategically refinance debt to achieve more favorable terms.”

Investors I’ve talked to who have looked at these businesses for sale say they’re pretty good. There’s an active market for litigation finance and for nonbank mortgage lending. It looks like 777, in an effort to raise cash and get some breathing room from regulators and ratings agencies, is starting with their best assets, or at least those that are easiest to sell.

A private jet belonging to 777’s managing partner, Josh Wander, has been sitting in a Pennsylvania hangar since September due to unpaid bills, European soccer site Josimar reports.

Read Semafor’s past coverage of 777’s finances, including how it has used its insurance arm and a scoop on a related Justice Department probe.

Selling off one's best assets is also the means by which companies attempt to stave off bankruptcy. Whether the cause is the Everton purchase or something else, this suggests 777 is in a liquidity crisis. Coupled with the potential for settlements or judgments from the Justice Department investigations, that's a huge problem.

The opacity of 777's finances doesn't prove they have something to hide, but in context it's highly suggestive.

 

[Milk]

They also own payday lender it says.

Unregulated mortgages, and payday lending and litigation finance ( also a risky business ), with some iffy real estate investments thrown in.

That's what 777 consists of. All bankrolled by the pension contributions of one of its companies apparently. Lovely.

Stinks of Robert Maxwell

 

[tellmema]

I cant believe Esk has just copied everything I said for the last 24hours and added a "poem" at the end, I demand credit for him stealing my work.

It's the price you pay for being the GOAT... If only you'd thought of adding a poem to your posts. Next time.

Anyway, I credit you. Only you. And not esk.

Maybe the first thing he gets right.....

And you're to blame. Shame on you for feeding the charlatan decent info.

 

[BNJ1878]

Kuwait? They/we would defo be sanctioned for their role in the first gulf war, what with them letting Iraq invade and all that.

You're clearly an expert in the geopolitics of the region, please explain for us divvies how Kuwait could have thwarted the Iraqi invasion?

Mods, I appreciate it's off topic but the reply will be err, interesting.