777 Partners / Whatever the hell you like

[dockroad]

Is the timing of this significant in any way?
Apparently the first auction closes at 3PM on 27 Sept.

Everton FC shares to be traded on new, transparent, online auction | TheBusinessDesk.com

First quarterly online auction closes on September 27

www.thebusinessdesk.com

From Blankstone Sington's website I have found out that you first have to register with a broker to get on Asset Match. They seem to recommend Albert E.Sharp who will charge at least 3% .The action apparently started on the 5th Sept. and ends 27 Sept.

 

[LocalNative]

An interesting little sequence of tweets this - a Genoa fan who's been positive about 777 since they arrived there:

Mate we have fans who still to this day won't have a bad word spoken about Benitez

 

[Dixieslaces]

I'm hoping for late interest from 666 anonymous or 999 emergency inc

Already sold our soul to the Devil mate lol

 

[chippy1722]

Already sold our soul to the Devil mate lol

Unlike 777 the devil is only interested in owning one club, and unfortunately it was Liverpool.

 

[Bally's Boots]

Senior Government figure has expressed concern over the suitability of 777 to take ownership. Apparently they have an alleged history of fraud, illegal loans and failing to pay bills! Surely blue Bill has done his due diligence, we've already had one cowboy....

 

[Neiler]

It's what I think he wants mate. Hence why he got the knock back from the Saudis and he's been having to deal with a small pool of "interested" parties. There doesn't seem like people are smashing the door down to invest or buy us out.

So we get left with dodgy investors, interest from "Asia", and MSP being not too sold on the whole idea.

Personally feel that if 777 do get involved, Mosh will still be here as they don't have the cash to full buy him out.

Once the stadium is done...then we'll see some actual big movements.

He will want as much as he can get mate, but with the level of debt incoming, we aren't worth much upfront - maybe 150 mill, which values the club at 700 mill and hes lucky with that.

I think we have dodgy investors because you would be mad to take us on, we aren't attractive, you are being asked for money to buy the club, you are being asked to pay back £550 mill in debt and the business is loosing 100 mill + a year organically and the team is in clear need of investment, while your greatest revenue stream is in jeopardy i.e. PL safety. We can talk about the new ground and its value - but its not built and its defo not paid for. All that weighed up no serious investor like a Rathcliffe of Sovereign fund is coming here - because its a skip fire.

The only people who could want take us on is the like sof 777 - what they see is a small up front fee, sell players to reduce debt, take fees out of the club and appreciate the asset, they are high risk investors.

You could be right though, they may not be able to raise the 100 mill odd needed i think to buy the club (they prob can at a pinch), i think the issue is more to assure the PL that they have the funds to fund it and assure other creditors - which they also have to do. I think they will struggle there.

In essence we're a skip fire, not worth much and can only attract vulture investors who can see an opportunity to charge us fees and asset strip.

 

[Tony’s Carp]

Senior Government figure has expressed concern over the suitability of 777 to take ownership. Apparently they have an alleged history of fraud, illegal loans and failing to pay bills! Surely blue Bill has done his due diligence, we've already had one cowboy....

Blue Bill has very little to do with this mate, it's Moshiri's shares for sale and his decision who he sells to. Kenwright is an irrelevance to the process.

 

[irishgoose]

Rival bid?

Any truth to this rumor?

Based on everything read here and on interwebs we should go for blind door rival bid.

 

[catcherintherye]

I thik that been the reality for seasons now mate. Infact it should be the default really. I think thats fine theoretically in terms of squad building. But the buisness doesnt wash its own face - so its selling to keep the lights on as a necessity if one of the other routes to cashflow isn't forthcoming and its unlikely to be.

To be very fair to Bill, he did manage it as an owner albeit he had Moyes, so we're into chicken and egg there. Regardless hes shown that competency.

I wouldn't share your hope of 777 and the Genoa evidence.

777 have shown they are high risk investors, they see an opportunity were they can acquire the club for a knockdown up front fee, by taking on debt and then likely selling assets (players) to provide cashflow or improve the debt position without further investment, thus increasing the value of the asset and their investment. Relegation is a risk worth taking for the investment especially when you consider the infrastructure that comes with the club and ultimately the debt can shoved on the club via asset stripping.

In terms of costs they are coming down - but a way to go and we are still relying on player sales - the 60 mill pa last year, was a 110 mill loss last year with out Richarlison and i think we can see that what we've taken in last and this year so far isnt equal to what we spend - so that additional resources from tranfer fees are being used to cover losses or provide cash flow - we haven't turned the corner just yet. Incrementally improving.

You are right theoretically, there is always player trading, usually though thats to reinvest - in our case its likely going to used to fund the club, covier losses or pay of debt and incrementally reduce the over all squad standard.

Thats my take, unless there is alternative funding model i cant see..........selling players and especially your best ones is not a good or even a normal thing - especially to pay to keep the lights on or line the pockets of the owners.

I mean a lot in that.

The reality is relegation is more drastic in the PL than any other business. It kills so much value, more so than any other league. Any sensible plan would involve keeping the team in the league.

As a business it looks like we lose around 60m p/a. However I estimate we have improved our wage bill by anywhere from 20-30m this summer. So that is down to a negative 30-40m. Lots of teams are at this point. Wages are too high for most teams, so they have to sell to make it work.

Football is a big Ponzi scheme that relies on endless growth, or some clubs being uneconomical in the market to sustain things (see Chelsea). We are not unique in that regard, but for a time were at the worst end of being ran badly, in a poorly run industry.

 

[jinkyali]

We were desperate for cash and they get a 10-12% risk free return.

The cash invested will probably stave off admin for the season. Its huge news.

How so Re stave off admin?

 

[Cjplennon]

It's called factual, objective, honest assessment of reality - or are you suggesting I'm a rival fan secret agent because I simply acknowledge the cold hard fact comparing Manchester United FC to Everton FC is utterly ridiculous?!?

One is a global brand, one of the biggest most successful football clubs on the face of the earth, with fans in every country (if not every city give or take) around the world; not to mention a commercial and coporate powerhouse. The other is not. The other is a random club from the "not-Sky-favourites", "not-Big-Six", "make-up-the-numbers" rest that is utterly interchangeable with a dozen other teams and therefore nowhere near as relevant in sporting terms or business terms. Like it or not, we're closer to a Norwich or Fulham or Leeds in than we are a Man Utd. There's the "Big Six" and everyone else.

Or do you honestly think some sheikh from some Middle Eastern state who wants a sports washing project honestly gives two fvcks about what a trophyless club did 40 years ago? Do you legit believe kids kicking a ball around in the sand half a world away pretend to be Lee Carsley and Tony Hibbert, or are they wearing shirts with Beckham and Ronaldo on the back? 100m people aren't getting up at 2am on the other side of the world to watch Everton v Fulham. They are for Untied v Liverpool or Arsenal v Chelsea. We've a long way to go to get to that. Pointing it out doesn't make me 'not a supporter'.

Everton vs Fulham hardly equivalent to the other matches you quote...i bet they get up for Everton vs Liverpool.

 

[catcherintherye]

How so Re stave off admin?

Without that cash I'm not sure how we would have met the financing obligations for the stadium.

 

[Neiler]

I mean a lot in that.

The reality is relegation is more drastic in the PL than any other business. It kills so much value, more so than any other league. Any sensible plan would involve keeping the team in the league.

As a business it looks like we lose around 60m p/a. However I estimate we have improved our wage bill by anywhere from 20-30m this summer. So that is down to a negative 30-40m. Lots of teams are at this point. Wages are too high for most teams, so they have to sell to make it work.

Football is a big Ponzi scheme that relies on endless growth, or some clubs being uneconomical in the market to sustain things (see Chelsea). We are not unique in that regard, but for a time were at the worst end of being ran badly, in a poorly run industry.

That's my rebuttal to the points that you made mate.

Of course you are right - its a high win/high loose game. But if your 777 is it worthwhile buying a cheap ticket for the raffle, having a 50/50 chance - or no chance at all. They are high risk investors as i said.

The costs of the business are dropping, prob by 20-30 mill a year, but still organically without Richarlison going in the last accounts our organic loss was 110 mill. I think its pretty clear given our transfer history since that the over hang of funds from our outgoing transfers is going on cash flow and servicing costs/debts. We are trying to incrementally improve but the business still cant clean its own face, no point saying otherwise.

Again that all fine theoretically, but in real world consequences as i detail in my post to Keneda, there is now a crystallisation of the impact of how poorly we've been run and the blood is continuing to flow. Those responsible for it, now want to pull the parachute, get out and have nothing to do with the mess they caused. The give not a jot of Evertons welfare under a new owner and are willing to sell us to a vulture investor who will bury us deeper. I admire the attempt at optimism - because what else have we and im not by nature a pessimist, but top to bottom there just isnt a logic or a positive spin to how we got here, where we are fundamentally or bringing in 777 mate.

That just my objective take mate.

 

[Charles Hawtrey]

Going into work this morning on NPR in the US the BBC economic news had a feature on Everton being sold to 777 Partners and why were an attractive proposition despite poor financial results, poor on-pitch performances and low morale. The gst of it was that we are so badly run and so under-performing that we have great potential - oh and BMD!
Still it woke me from my early morning snooze/commute!

 

[Mikey O]

The Saudi government passed that test.

Catherine, you're right and I'm not sure how the Saudi government got around the rules, perhaps because it is a test of the individuals involved?

Perhaps the question is whether the rules are suitable to deal with a "rogue" organisation - for our sake I hope they are.