The Esk has basically laid out exactly what the club's situation is on his blog. For anyone who hasn't read it I'll try to put it in layman's terms.
777 are rejected = Chances of administration are about 90%. MSP are owed £140m and are due repayment very shortly. They just want out now and probably regret ever getting involved at all. Rights and Media Funding (Kenwright's mates) are owed £150m and it's rising. Their debt though is guaranteed, so the club possibly going bust they couldn't care less about because they'll be unaffected. Hence why they blocked MSP's proposal to takeover and restructure their deal. We also have to pay Laing O'Rourke their next installment to keep construction under way, if we fail to do this the penalties would be huge. Tragically the club generates no money except through TV money and (hypothetical) player sales. But that's just not enough to keep our heads above the water at this point. No sponsorship and or prize money to help out (thanks Putin you absolute bell).
777 are approved = A group that can't even pay the bills to keep Standard bloody Liege running day-to-day basically handcuffs us to them, their fate would be our fate. They are taking out loan after loan from dodgy US insurance companies just to stay alive in a zombie form. Staff are being laid off in droves, have got debt-recovery lawsuits coming out of their ears, their other clubs (with monthly bills far lower than us) are barely keeping the lights on. It's so bad at Standard they've already had two transfer bans because they've failed to pay fees (which are tiny by PL club standards), and unless they can pay the ex-owner what he's owed by this April then under Belgian law he can officially re-take ownership of the club from them. And to put a bow on it all, they're even being investigated in the US for fraud and racketeering. Even those investigations come to nothing, this a company with extremely bad credit that any reputable organisations surely won't want to do business with. Even their Chief Operating Officer has decided he can't be arsed anymore and has walked away.
We're in a terrible way and trauma is in our immediate future, tragically. All I want is for the club to still be around in the decades to come, so future generations at least get the choice of becoming an Evertonian or not like we all did.
