777 Partners / Whatever the hell you like

[Tony’s Carp]

Everton and 777 Partners are expecting contact from the Premier League this week as the top tier’s directors and owners’ test finally reaches conclusion.

All outstanding questions have been answered by the Miami-based consortium, with the club still confident it will learn its fate within the fortnight.

Insiders with understanding of the process say the Football Association has already approved the deal, although the governing body has yet to comment.

Premier League contact with 777 over the coming days is expected to include an exact date for a decision. The company, one of a growing number of multi-club owners, agreed to purchase owner Farhad Moshiri’s 94 per cent stake in September. It has since provided Everton with a further £30 million in funding, taking the total loan from the American investment firm to £180 million.

The directors and owners’ test verdict is likely to be delivered within days of Everton finding out whether an appeal against a 10-point deduction has been successful. The club, along with Nottingham Forest, has also been charged with financial breaches for the latest three-year cycle.

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For 777, there remains optimism the deal will finally be signed off, despite having aimed to be completed by Christmas. Clearance from the Financial Conduct Authority was provided in December but Premier League chief executive Richard Masters suggested last month that questions still needed to be answered while speaking at a Culture, Media and Sport Committee hearing.

There is recognition on all sides that if the takeover were to fall through and Everton were placed into administration, then 777 would face a huge battle to recoup the £150 million they have already provided in funding.

Everton were hit by claims that the takeover could be put in danger by allegations regarding one of 777s subsidiaries, 777Re, which is a Bermuda-based reinsurer.

But, as reported last month, sources close to 777 insist the reinsurer has been placed under administrative control as part of a reorganisation of the industry by Bermudan authorities, rather than being placed into administration, and that there are no issues for their funding of the Everton deal as a result.

The Premier League’s directors and owners’ test has been tightened in recent years, but resolving the Everton situation is now top priority after Sir Jim Ratcliffe’s investment in Manchester United was cleared within eight weeks.

Hmm, this has clearly been briefed from the 777 side and they’re obviously putting out there the suggestion that administration is the alternative ie it’s us or bust.

Suggests to me they haven’t done enough to get approved but are putting the pressure on the PL to cave as the alternative is worse. Worked in Belgium, not sure it’ll work here.

 

[pfim]

Hmm, this has clearly been briefed from the 777 side and they’re obviously putting out there the suggestion that administration is the alternative ie it’s us or bust.

Suggests to me they haven’t done enough to get approved but are putting the pressure on the PL to cave as the alternative is worse. Worked in Belgium, not sure it’ll work here.

Yeah, this is 100% from the 777 side of things, nothing from the league itself.

 

[efcfanwirral]

Hmm, this has clearly been briefed from the 777 side and they’re obviously putting out there the suggestion that administration is the alternative ie it’s us or bust.

Suggests to me they haven’t done enough to get approved but are putting the pressure on the PL to cave as the alternative is worse. Worked in Belgium, not sure it’ll work here.

Don't forget that its Moshiri who is threatening us with administration as the alternative. Even if it fell through its his decision not to put the money in to tide us over until a new buyer can be found (unless he can't). 777 may be briefing this but administration as the alternative is not their choice

 

[Moderatelywarmwater]

On one hand we get rid of Moshiri….
Can they be as bad as him?

 

[Eggsyblueskin]

If a decision had been made I can conceive of no logical reason it wouldn’t be announced.
Certainly no reason to wait until the end of February.
As others have already noted this ‘information’ seems to emanate from sources close to 777 and they have been leaking news of imminent conclusion to their takeover bid for months now , yet final approval has still proved curiously elusive.
Again as others have noted they have used the tactic of hinting the club is in threat of administration if the authorities do not ignore their serious financial irregularities or serial inability to provide any accounts post 2020 and wave their bid through regardless.
Wouldn’t trust them as far as I could spit into a hurricane.
I do wonder what the two separate investigations ,by their state and federal prosecutors respectively , will reveal ?

 

[Drico]

On one hand we get rid of Moshiri….
Oscan they be as bad as him?

Yes, Kent. Yes, they can.

 

[Exeter_Gently]

I'd hope 777 leak is based on them getting good news re appeal.

Am struggling to join the dots here, Kind sir.

 

[Liam-EFC]

On one hand we get rid of Moshiri….
Can they be as bad as him?

They’ll probably be worse. Out of the frying pan into the fire.

 

[Azza]

On one hand we get rid of Moshiri….
Can they be as bad as him?

They'll be worse.

 

[Gallaeo]

Everton and 777 Partners are expecting contact from the Premier League this week as the top tier’s directors and owners’ test finally reaches conclusion.

All outstanding questions have been answered by the Miami-based consortium, with the club still confident it will learn its fate within the fortnight.

Insiders with understanding of the process say the Football Association has already approved the deal, although the governing body has yet to comment.

Premier League contact with 777 over the coming days is expected to include an exact date for a decision. The company, one of a growing number of multi-club owners, agreed to purchase owner Farhad Moshiri’s 94 per cent stake in September. It has since provided Everton with a further £30 million in funding, taking the total loan from the American investment firm to £180 million.

The directors and owners’ test verdict is likely to be delivered within days of Everton finding out whether an appeal against a 10-point deduction has been successful. The club, along with Nottingham Forest, has also been charged with financial breaches for the latest three-year cycle.

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For 777, there remains optimism the deal will finally be signed off, despite having aimed to be completed by Christmas. Clearance from the Financial Conduct Authority was provided in December but Premier League chief executive Richard Masters suggested last month that questions still needed to be answered while speaking at a Culture, Media and Sport Committee hearing.

There is recognition on all sides that if the takeover were to fall through and Everton were placed into administration, then 777 would face a huge battle to recoup the £150 million they have already provided in funding.

Everton were hit by claims that the takeover could be put in danger by allegations regarding one of 777s subsidiaries, 777Re, which is a Bermuda-based reinsurer.

But, as reported last month, sources close to 777 insist the reinsurer has been placed under administrative control as part of a reorganisation of the industry by Bermudan authorities, rather than being placed into administration, and that there are no issues for their funding of the Everton deal as a result.

The Premier League’s directors and owners’ test has been tightened in recent years, but resolving the Everton situation is now top priority after Sir Jim Ratcliffe’s investment in Manchester United was cleared within eight weeks.

“Is now a to- priority”?

So they parked us, a financial basket case in dire need of clarification to address a business which could take or leave new owners?

 

[Jcr1878]

In terms of whether they will be better or worse than Moshiri, a few things come to mind.

Money

I think it's quite obvious that Moshiri did have access to a significant amount of money up until the Ukraine war, and he did finance a lot of transfers & stadium development. 777 on the other hand seems to have a very shady history with money, high-interest loans, asset stripping, fan funding etc. We would have to expect a hike in everything including ticket prices (look at 24/25 season ticket prices already)

We've seen 777 already not pay league taxes, players' wages, transfer fees etc, which has led to clubs in their network getting points deductions, transfer bans etc, so this is hardly positive stuff considering that Everton is currently going through FFP hell and their own points deduction. Can we trust that 777 is going to steer the ship and fix our financial issues? I'm not sure.

It's a choice between a clown with too much money who spent it appallingly, or a company which seems to have limited access to money, who can't seem to get their own house in order, so either seems bleak.

Communication

Moshiri was a dreadful communicator, 777 simply couldn't be worse, and I would expect them to continue with the increased level of communication that we have seen in the last 12 months. I don't think we'll see Josh Wander going onto TalkSport once a year to deliver a vague confusing message to the fans.

Personnel

Moshiri never seemed to display any true knowledge of football, which is why he relied so heavily on agents in his ear, as well as mainly using internal appointments like Bill Kenwright, Denise, and Graham Sharp instead of trying to hire the best and most experienced people available. The only role Moshiri seemed to have tried to find experience-wise was the sporting director like Walsh and Brands, but he counteracted those appointments by going against their strategies by buying players and managers who were pushed by agents.

777 does have some good experienced people who will take up high level roles, like Don Dransfield and Johannes Spors, who are respected and have worked for successful teams like Manchester City and RB Leipzig. I think these guys would run Everton better on purely a footballing level, and the worldwide scouting network might help us out.

Unfortunately though, having decent personnel and some good footballing people at the helm means nothing if we don't have access to money, or if we are given transfer bans etc.

Conclusion

I think 777 sounds good on paper, what they are proposing sounds good with good experienced men coming in to help the footballing operations. However, their history of finances, and how they've handled their other clubs makes me think they're all talk more than anything, and for the situation Everton are in, we need people who can deliver.

I'm not sure they will be worse than Moshiri, Moshiri has destroyed Everton and put us into serious trouble. Are 777 the right people to get us out of the mess though? I'm not confident they are.

 

[jazzy]

On one hand we get rid of Moshiri….
Can they be as bad as him?

Yes look at their dealings at other clubs and organisations

 

[Tony’s Carp]

In terms of whether they will be better or worse than Moshiri, a few things come to mind.

Money

I think it's quite obvious that Moshiri did have access to a significant amount of money up until the Ukraine war, and he did finance a lot of transfers & stadium development. 777 on the other hand seems to have a very shady history with money, high-interest loans, asset stripping, fan funding etc. We would have to expect a hike in everything including ticket prices (look at 24/25 season ticket prices already)

We've seen 777 already not pay league taxes, players' wages, transfer fees etc, which has led to clubs in their network getting points deductions, transfer bans etc, so this is hardly positive stuff considering that Everton is currently going through FFP hell and their own points deduction. Can we trust that 777 is going to steer the ship and fix our financial issues? I'm not sure.

It's a choice between a clown with too much money who spent it appallingly, or a company which seems to have limited access to money, who can't seem to get their own house in order, so either seems bleak.

Communication

Moshiri was a dreadful communicator, 777 simply couldn't be worse, and I would expect them to continue with the increased level of communication that we have seen in the last 12 months. I don't think we'll see Josh Wander going onto TalkSport once a year to deliver a vague confusing message to the fans.

Personnel

Moshiri never seemed to display any true knowledge of football, which is why he relied so heavily on agents in his ear, as well as mainly using internal appointments like Bill Kenwright, Denise, and Graham Sharp instead of trying to hire the best and most experienced people available. The only role Moshiri seemed to have tried to find experience-wise was the sporting director like Walsh and Brands, but he counteracted those appointments by going against their strategies by buying players and managers who were pushed by agents.

777 does have some good experienced people who will take up high level roles, like Don Dransfield and Johannes Spors, who are respected and have worked for successful teams like Manchester City and RB Leipzig. I think these guys would run Everton better on purely a footballing level, and the worldwide scouting network might help us out.

Unfortunately though, having decent personnel and some good footballing people at the helm means nothing if we don't have access to money, or if we are given transfer bans etc.

Conclusion

I think 777 sounds good on paper, what they are proposing sounds good with good experienced men coming in to help the footballing operations. However, their history of finances, and how they've handled their other clubs makes me think they're all talk more than anything, and for the situation Everton are in, we need people who can deliver.

I'm not sure they will be worse than Moshiri, Moshiri has destroyed Everton and put us into serious trouble. Are 777 the right people to get us out of the mess though? I'm not confident they are.

This is a fair and balanced summary. I’m in the camp that these might be a necessary evil. I’m fed up hearing about mystery investors waiting in the wings, maybe they exist but right now 777 seem the only people to have put up. So in the short term they are at least better than administration. If there are other investors maybe they’d be better but we simply cannot evaluate them when we don’t even know if they actually exist.

You would hope that if they could steer us through the next couple of years our value and attractiveness would rise and perhaps they would take a profit out of more credible investors.

Finance wise it would be insane of them to take us on knowing they couldn’t finish the stadium and steer us through a couple of years financially, they have too much money in the game already to lose it all via administration.

Beyond that I doubt there’d be much for the football side, but even if they could operate on sell to buy for a couple of years that would be a step forward from the last couple of years where player sales have simply kept the lights on. Even if we have to sell Onana and Braithwaite as most expect us to if we can spend that money we’d have a chance to really solidify the squad.

 

[Moderatelywarmwater]

Yes look at their dealings at other clubs and organisations

I’m desperately hoping for a silver lining..
Getting rid of Moshiri is all I can get

 

[Heratic75]

Don't want to state the obvious but why would the PL approve this deal if they are all about financial integrity. Even my dog who only speaks woof knows 777 is poison and has enough dirt on them of failed payments etc, if the PL approve the deal and later on down the line it all goes wrong like with their other investments can we sue the PL for making a financially unsound decision.