777 Partners given until 31st May to conclude Everton takeover

If 777 Partners take over, we will not be going in 12 months time. Moshiri is pathetic.

Would any takeover by anyone be ready to complete by end of transfer window in August?

Corruption. Cannot be anything else. Moshiri is a crook.

Thanks, Mr Moshiri!

He's made mistakes sure, but I don't think he is stupid. Why would he continue to try and sell the club to an outfit that don't appear to have the money?

Privately? Lyndon, is that from a media outlet or your own source inside the club?

Get paid for TV money, prize money for finishing 16th. All of a sudden, 777 Partners have £600 million to play with.

Everton, £1.2 billion in debt, we will drown under the sea of debt.

Football team, squad wiped out.
Moshiri is selling to 777 as they are giving him £500 million for his 94.1% of EFC shares and taking on his debt.
None of other buyers will give him a bean.

Something is cooking or it’s not Moshiri's decision, is Alisher Usmanov calling the shots.??

We are in deep doo-dar, us Everton fans. Is there any way we can influence things if we acted together?

If the Fan Advisory Board organised us? If 35,000 of us stood in Stanley Park, no re sale season tickets, no buying tickets.

If we did that enough times, they would have to listen.

“Moshiri made a living by being an accountant”

Also trying to get out of a 'possible contract' on him?

As Lewis said above 'Accountant'?

My feeling is that Moshiri is giving 777 Partners one last chance to get the deal done because he stands to make the most from them. If true, it would very much be out of cynical self-interest because it would put Everton at huge risk if or when the 777 house of cards falls.

I would really like to see MSP build a consortium of solid backers and buy the Club, start to clean house and put us on a solid footing.

Once we reach 31 May, we expect another extension of a few weeks to allow for the sale of all of our best players then funnel that cash to Stevie Wander to complete the takeover.

Once they own EFC, they can leverage off us...

DK and others, are you surprised? Of course Moshiri, once forced to sell, would prioritize the best possible return for himself. Wouldn't you in the same position? Why would anyone expect otherwise?

Colin #18, he's not a Crooked Iranian. He's a Crooked Brit. He's been a UK citizen for 45 years.

I can see people going to prison once this cesspit of corruption is uncovered.

What on earth did we do to deserve this new axis of evil (Kenwright, Moshiri and Usmanov)?

146 years of history and what kind of future for our club?

But let's assume that from somewhere they somehow get funding to show the Premier League they have the wherewithal to fund the takeover. They would basically have to sell every saleable first team player who commands a fee, and would probably lead to Dyche walking.

So fighting to stay in the Premier League for the last 3 years will count for nothing, as the club will be on its knees if this charade sale goes through.

I cannot believe the Premier League have not stepped in to stop this from happening. We need proper owners to guide us through this difficult time and to the new stadium.

Once 777 Partners are out of the picture, he'll be faced with some tough choices: Administration, hanging on and having to put more of his money in (if he's even able to) or trying to exit with at least something rather than nothing – i.e. he'll have to reduce his asking price.

MSP are canny operators and, from a negotiation stance, will keep a very straight face, I would imagine. As Moshiri called in Teneo several weeks ago, I assume he now knows what sort of non-777 deal there is and it clearly doesn't come close to the agreement with 777, albeit they can't deliver.

Another 2 weeks of stress!

Of course Moshiri doesn't give a shit. Why should he?

We lived and were brought up with Everton running through us – breathed and lived it everyday. Highs and lows and more recent times gloomy lows but we continue to live and breathe Everton everyday – we wouldn't be writing on here otherwise.

Everton was a toy, now discarded by a filthy rich man. What else do you do with billions? Make more billions and buy the odd sea-going yacht. I doubt whether he even looks at supporters; if he does, he will consider us as bunch of misled morons. We mean nothing to him.

I am, like all of us, saddened by the state of our beloved club and what will happen in the future. It doesn't look good.
This season, we have been held together by a tide of emotions which Dyche and the players have absorbed and enormous credit to them for what they have done. However, this cannot be sustained without massive backup.

Moshiri has no moral obligation to find the right buyer. That, sadly, seems to be the case here. A shame and shameful.

If 777 Partners face another default here, they will face a lawsuit, while they also probably realize that the best chance of getting their money back lies with them providing additional funding given that their £200m-plus is through unsecured junior debt, meaning they would be behind the likes of Rights & Media Funding Limited, Metro Bank, and MSP Sports Capital in the event of any administration proceedings.

Moshiri holds the cards here and is probably already in talks with potential buyers to iron out a deal. Administration is not on cards and 777 Partners won't get Everton in their portfolio – that is almost certain. Best chance for 777 Partners is somebody clearing this unsecured debt and rescuing us from hell to heaven.

Worryingly, he has never demonstrated either characteristic.

I am no different but it's obvious to me that Moshiri, knowing he has presided over the worst performance at football club ownership, possibly in the history of the game, wants out with the best possible deal for himself and his Russian backer.

The problem is he can't step out because he doesn't have a deal on the table, so he has little option other than to kick the can down the road.

If he kicks out 777 Partners, he is left out in the open without a deal and no trousers. So he fastens his belt and buys time.

The time he is buying is possibly for MSP to get themselves into gear with a plan and new partners or investors, whilst Teneo restructure the finances so MSP can agree a position, and then both sides can meet in the middle.

31 May seems a reasonable timeframe to put the squeeze on 777 Partners, knowing there is only a remote chance they will reach their goal. It should also provide MSP with enough time to know if they can put a deal together, pending Teneo's success in agreeing a tentative restructure of the club's debts.

Then a new timeframe is set to complete before 30 June, the critical date for avoiding Administration as I see it.

I have predicted that a number of times here, and I still believe it to be true. Neither MSP nor any other prospective buyer has any reason to be in a hurry right now. The greater Moshiri's desperation, and the closer to the actual filing of administration, the cheaper Everton gets.

Pete #33, I'd be more worried if he had, because he could stretch this out for months with legal and financial manoeuvring. But, fortunately for Everton, he's up against people who are way smarter than he is.

I shall endeavour to adopt your 'glass half-full' philosophy. I know you've had cause to develop it.

Assuming that there is a prospective purchaser out there, the purchaser is looking at a distressed seller. The prospective purchaser is in no hurry, none whatsoever; he will just sit and wait and wait as the vendor becomes more desperate.

The seller may still wish to deal with 777 Partners as the offer they made many months ago is probably a lot higher than what can now be obtained from a new purchaser.

Relax!

MSP can them hopefully find someone to come in with them and buy the rest of Moshiri's shares.

And dumb down the answer please because I'm not getting any of this.

"Why don't MSP just call in their debt, and take the 50% + 1 share?"

Wouldn't they first need to await Premier League approval?

If we go into administration, then the stadium build would have to stop. We can't afford for it not to get finished.

The club has also received about £150m in loans from an opaque lender called Rights & Media Funding Limited (RMFL), a Cheshire-based company its lawyers said last year competed “with some of the largest names in sports financing”, although it does not possess a single employee, a website or a phone number.

As the Guardian reported in November, RMFL also appears to have borrowed much of its money from a company based in the offshore secrecy jurisdiction of the Bahamas, which started lending to RMFL just six months after the offshore firm was established and does not reveal its source of funds.

So who are RMFL and who funds them? After all, these were the group that stopped the MSP offer of a deal. Is this Usmanov protecting his money? Surely the FCA has to get involved. How can a company and company borrow money from a third party, whose owners are hidden? This could lead to money laundering or am I wrong?

So we've gone from being rescued from becoming a Museum to the point of becoming the Accrington Stanley of the 21st Century.

But I'll never forget this Holy Mess!

Like your self, I was born and bred on Everton Brow. Schooled in Everton. Holy Communion in Everton. Born in Everton. Support Everton.

So he can take his Russian money. We as blue will still be Everton. UTFT.

This would probably require Moshiri to accept a notional (say 1%) of the equity and 777 (or their administrator) say 5 or 10%. RMF and MSP would have the rest.

In practice, this will be very difficult to achieve given 4 different debt providers all with different security and different interests. Teneo are very capable but, even so… There is bound to be a new money requirement too for MSP or RMF to stump up.'

Simon Webber.

This IMO is the most accurate description of the present scenario, given the information available. If the extension date is true, MSP Sports Capital has agreed to it.

There is a general assumption that Moshiri and 777 Partners fear administration. But both Moshiri and 777 Partners would have difficulty proving collateral for their source funds that went into Everton.

This whole saga is set to continue, with funds being provided from whatever source to pay off MSP Sports Capital. They will be glad to get paid. After that, Everton is likely to continue month to month.

I expect that the 2023-24 financial accounts will show increased losses on the previous year. Everton already have to make a profit of over £12M in the 2023-24 financial accounts so as to not breach PSR and avoid being referred to another Independent Commission.

It could be inevitable that Everton go into administration in the future. Hopefully a viable structure emerges that can be purchased by a viable and professional owner.

The irrevocable problem is the investors who are backing the companies that are providing Everton funds, we do not know.

It is going to be fun and games next season.

Fan protests gid help remove Gillett and Hicks – The inside story of Liverpool’s 2010 takeover

'Rights and Media Funding is a sport and entertainment sector-focused lender.

RMF employs legal and regulatory expertise together with data-driven risk analysis in the decision-making and execution of its lending activities.

RMF is one of the largest lenders to European football clubs and the principals have been amongst the most active lenders to football clubs and other sports institutions for more than 20 years.

RMF has lent more than $3.6B over the last 10 years and more than $2.5B over the last 5 years and has been a repeat lender to some of the largest and most prominent clubs in European football.'

Paul the Esk described them as a credit card for football clubs. It is rumoured by John Magner and JP McManus, of Alex Ferguson and the disputed Racehorse fame, are significant investors.

Would the Premier League sign off now being aware of the various dealings propping up these guys and their lack of funds?

Imagine the backlash if our new owners go bust within a few months after the purchase.

It's a mess of epic proportions, Moshiri must be getting desperate.

It's impossible to predict what might happen, but as fans we can only show our disgust. UTFT.

Following on from the Leadenhall allegations, I am reliably informed that there was today an initial hearing to appoint a receiver over 777 Partners. Lawyers from Credigy appeared. I'm told 777 will be represented by Smith Gambrell Russell – more to follow.

A grand and noble gesture, for which the technical financial term is – pissing into the wind.

Our destiny, for good or ill, will be decided a long way from Stanley Park.

Everton ownership 'not for Premier League to decide'

No help coming from them then.

From the update:

A share purchase agreement is currently in place, which gives 777 Partners the opportunity to acquire a majority shareholding in the Club and this lasts until 31 May.

The Club has confirmed, however, that plans are also in place to progress alternative scenarios, should the
acquisition by 777 Partners not complete.

777 Partners has so far made loans to the Club of $200m, which includes a $10m payment, to support the new stadium build, which was received this week.

Should the 777 acquisition complete, a significant portion of the loan will be converted into equity in the Club.

Increased revenues from the new stadium will not make up the shortfall.

Moshiri has to be the worst thing that has ever happened to this football club, well until 777 Partners take over.

A report I read and posted on TW a couple of weeks ago indicated that Moshiri is only going to get between £60 million to £130 million out of the sale to 777 Partners.

We have become a poisoned chalice.

Best bet would seem to be some sort of consortium, perhaps with MSP and Andy Bell or George Downing, which turns MSP's investment into equity and is able to re-structure some of the other huge debts that we have accrued.

If 777 Partners go into administration, as seems possible, then perhaps their administrators will accept reduced terms or equity on their loans to recoup funds.

It's crazy how long this has been dragging on for. Ownership uncertainty along with lack of clarity over points deductions has made it a tough season or so for us Toffees! Let's hope that there may be some light at the end of the tunnel.

They've just cleaned out the Standard Liege bank account and done a runner. What's to stop them doing it to us?

Richard Masters must be creaming himself at the thought of a 777 takeover. Defender of the game. What a joke.

God knows what this Club has done to him apart from corruption allegations. They say there is nothing like a woman's scorn.

Usmanov is worth $14 billion. He wouldn't struggle to get the money to pay off MSP.

It is not the high bar that has killed an Everton takeover (by anyone), it is the indecision (chicken shits) of the Premier league not wanting to be blamed for pushing Everton into administration or relegation.

In delaying what was a straightforward (even more so as time progressed) decision to deny 777 Partners, Everton FC debts have risen substantially to a point where they now have reached a point where no buyer will invest.

Indeed, the only way out would be for any interested party to wait for the inevitable crash and pick up the club for a song.

But this will hurt so many people working for EFC, job losses, stadium defaults, fire sale of assets (players) and potential relegation next season. The squad would struggle to survive another season with many players out of contract and no new blood.

Moshiri should have moved on by Christmas as it became obvious that the Premier League were not going to approve the purchase. But for some inexplicable reason, he has backed 777 Partners. If today's reports are correct, 777 are on the brink of receivership themselves. But continue to abide by what appears to be a contract to supply funds.

I note also that there appears to be a watering down of the debt to equity agreement that now refers to a significant portion of the debt – rather than all – being converted to equity shares in the update from Colin Chong.

Moshiri has stuffed this up. 777 Partners should have been binned 6 months ago. The Premier League are letting us sink, because they wouldn't make the decision they infer is not theirs to make (not their responsibility who the club is sold to).

Behind all of this is R&MF and its offshore funding. This merry band of shady money backers dates back to Kenwright and Green days, their control over the club is (still) immense. They have zero interest in the club other than a cash cow pulling in money at significantly higher rates than a bank.

I fear Moshiri is hanging on for a better payday (or any payday) rather than administration. It's clear that there are no parties ready to join forces or solely take the hit of the club's debts.

Moshiri has maxed his numerous credit cards to the hilt, there is no way he can pay all of them off now. It's lllclear he has no interest in doing so.

To me he has a number of options:

1. Hang in there. Take the financial hit and get us over the line whilst searching for a buyer.

2. Sell or relinquish part of the equity in lieu of debt to MSP or an other. Continue to fund until long-term debt management is in place or a buyer is found.

3. Going into administration means he could (will) lose it all. He either has to continue to fund or lose everything. Surely more pain until the club is in a better place is best all round?

4. Usmanov was his financial backer and partner in this, hidden or not. He either has to find another backer, stay, or go into administration. I cannot believe he will allow that to happen (nor do I believe Usmanov will).

I meant for Usmanov to find a creative way to transfer funds.

You're probably right that the Uzbek has enough liquid dosh to pay them, but don't forget that a person's wealth is calculated on the value of their assets (companies, properties etc) – not on how much their bank statement shows.

Since he is probably (allegedly) helping fund Putin's war, there are no certainties over how much money remains for other interests like little old Everton.

A sad reality check.

I don't understand how 777 Partners can have raised so much money (allegedly) against something they don't own, so if, as likely and hopefully, it all collapses, why do we (as a club or the new owner) have to service that debt?

Maybe Usmanov is covertly behind all this, but why deal with such a dodgy client?

M&M; Masters and Moshiri, their and 777 procrastinating have saved us from that frying pan / fire situation.

Where we go next is anybody's guess.

For Sale!! Historic sleeping giant of a club with brand new stadium, playing in the richest league in the football world, yours for a tenner and a handshake – if you pay off the debts.

Who could resist such a bargain and what could possibly go wrong?

One, the exclusivity agreement will have a mechanism of a long-stop date that will need to be honoured.

Two, he probably needs them for another month of cashflow. I assume the club receives merit payments etc in late May or early June, pushing the potential for administration into another season as a worst case – and certainly not before the transfer window reopens.

It gives another party notice of what they need to do, once this deal is off.

(2) I imagine that I am not the only one who is getting sick and tired by Mark Ryan (and others) screaming “Usmanov” and “corruption” from the rooftops when he and they have absolutely nothing apart from excitable and “pay me attention” speculation.

(3) There are, however, two things that we can be certain about: absentee landlord Moshiri puts himself and money first; 777 are a motley crew of sleazy cardsharps on a global asset-stripping mission. There are one or two or both scenarios for me that swerve Mark Ryan's JFK conspiracy and stick to what we know. The first is that Moshiri is wedded to 777 because behind the scenes the proffered deal is a sweet one for him in his don't-give-a-fuck-about-Everton world; the second is that there are rival bidders out there somewhere biding their time and ready to outsmart greedy Moshiri when June arrives.

(4) Bobby Mallon (40), you would be comfortable with two-thirds of the non-playing staff and a good number of playing staff losing their jobs? Administration is our Waterloo and we cannot emerge stronger for it unless little is better and, like Mr Mallon, we don't give a shite about people's livelihoods and their families.

Mr Mallon, can you maybe go beyond your dead easy and lazy one-line doggerel and help us to understand in joined-up sentences why administration is our “best bet”?

The only constant seems to be that 777 Partners are still the front runners to be our new owners. What a horrible thought.

The blame has to be laid at Moshiri's door, he has been resolute despite all the press reports, he still believes, even now, 777 Partners are the best option.

Paul the Esk said, within weeks of it being rumoured that 777 were the possible new owners, to not go down this route, and suggested that they didn't have the capital to purchase the club.

There are now court cases against 777 Partners and even they have removed Pasko and Wander from their board and still Moshiri has given them an extension to get this deal over the line.

I could well imagine what these pages would have been like if the Premier League months ago said that 777 couldn't buy Everton; this site would have had many (me included) saying "You have tried to relegate us with your points deduction and now you are telling us who can't but our club."

Had this happened, no doubt Moshiri would have said without 777 he can't afford the day-to-day running of the club which would have meant administration.

I actually think the Premier League have done us a massive favour by not rejecting 777 outright, they have allowed them to pump in over £200M which helped keep this club afloat. But let 777 know they wouldn't get the go-ahead till 4 specific conditions were met – which they still haven't done, despite pumping all this money into the club.

I get they have money secured on the club and stadium which I presume will be paid back at some stage, but why a club that's a basket case with the debt of a 3rd World country hanging over it?

What about the playing staff? Or am I being too cynical?

Almost right from the start, as details came out about the owners of 777 Partners and the issues with other clubs, it was clear there were real concerns as to their validity. But in respect of Moshiri, he could have continued to fund the club but instead loaded debt onto it knowing full well what he was doing.

It made no sense and still doesn't. He painted himself and the club into a corner with no way out. Committing to 777 in September was dependent on the Premier League giving its approval to 777 which they have failed to do.

You say they would have been slated on these pages for finding them unfit and I am sure there would have been some, many even, who would see it as such, but instead of making a decision, they hung it out to dry, forcing the club into more debt that became unsustainable in repayments and cashflow, increasing the need for more cash to repay the interest... hence my comment about maxed-out credit cards.

What I do not understand is Moshiri's game. He may want to sell and recoup as much as he can but he was the effective owner despite the debt, so why stop funding the day-to-day stuff, why didn't it continue to prevent us being subject to going concern audits? If you are selling, you present the best possible face of the club. Moshiri has done the exact opposite and pulled the plug. Why? Is he broke?

He is in mortal danger of losing the whole lot if he continues in this vain. In fact, I think it is already too late for him to recover anything other than a token amount if he persists in listening to 777 and avoiding the mounting evidence before him. Why?

Moshiri is not stupid. He has access to people the world over, so what's at play? When buying such a high-risk business from a high-risk theatrical owner, you have to have an end game, the reason you bought it in the first place. So what's changed?

The obvious and most logical reason is his friend (not Moshiri) lost the ability to fund and build the club into what he wants. It's clear that, since sanctions impacted on his mate, his funding has all but stopped, together with his interest and involvement (and communication).

We are now a shell company, an interim board clearly not fit for purpose (not their fault, I may add) and an owner who has tied his flag to the 777 mast for whatever reason that only makes sense to him. Why?

Pushing the boat out for another 2 weeks won't make any difference.

In fairness to Bobby I don't think he meant to disrespect the position of the current non playing staff. In fact I'm not even sure he realised they would lose their jobs if we went into administration.

The problem with these threads concerning our current financial plight, is that people (Like me) don't fully understand how large organisation finances work. Rules, regs, law, etc. Thats even before we mention Dead Chairmen, EPL conspiricy theories, or rumor's of dosh washing in the mersey by sinister shadowy figures lurking in the background

We can all talk shite to our hearts content about football, but this topic (for me) is too serious. I fear a few well meaning and concerned posters are regularly throwing their two pence worth on a subject they obviously (even to me) know nothing about. Just when you think the waters cant get any more muddier. Someone comes up with another gem.

I only log on to these threads to reassure myself I'm not the only one who cant make head nor tail of this total nightmare.

Nobody knows what, how, when any of this soap opera will end or how it will pan out.

It's all guesswork and opinion, some touted as informed, which it obviously isn't.

Now I want to know who is behind the company in the Bahamas that lends money to R&MF.

Your post says nothing more about the situation than mine and so why did you bother.

My post said simply this

"Stinks of corruption to me. I suspect Usmanov has Wander on speed dial.

Corruption. Cannot be anything else. Moshiri is a crook"

I posted that because nothing else makes sense to me. What is happening makes no sense at all. Moshiri appears to be floundering and I suspect bigger things are at play for him as an individual, hence my post. That's all I posted I wasn't on a rooftop as you suggest and it's got nowt to do with JFK ?

You seem stressed Paul, chill out pal

With Moshiri, every little detail will be scrutinised from incoming money; 777 however have the ability to move money around and less likely to leave a trace from Usmanov.

I cannot come up with any other reason why Moshiri wants 777 and keeps extending the deadline other than it is not his money and he is being instructed by the real money man.

Whatever the reason, something does not sit right with 777.

He probably already owns the club. So why would he suddenly help 777 to buy it?

Administration would lead to debt restructuring, player sales, redundancies in the club, suppliers not being paid, Capex project spend halted, and a points reduction. This is the disaster scenario for the club, and Moshiri. He would be firmly in the queue for repayment on the loans he has given the club.

As I ramble on here, my grandson is watching Peppa Pig just about to climb on a plane flown by Captain Emergency. You can't help but draw similies. Who the fuck would get on a plane piloted by Captain Emergency???

Still think there's no corruption or Government interference in football? Think again.

Even though it's mostly educated guesswork, Why? Why? Why? Is the question I would also love to hear the answer to the most with regard to Moshiri and 777 Partners.

It wouldn't surprise me if we are sold before this date, but that's just me trying to think logically for Farhad Moshiri. Let's face it, he must be looking like an absolute clown to most serious businessmen, even if I'm sure most of them will be aware that he's nothing more than a frontman or a lackey for a man who has had his tap turned off because of sanctions.

Rights & Media Funding, who are another one of those murky companies currently involved with Everton, must be doing cartwheels every time that other murky company keep finding a bit more money. They will probably be distraught once Everton are sold because they will be getting one of their taps turned off themselves.

Contradiction is massive because, although the new stadium has become a millstone, it's probably the only reason we are going to come through the other side. I'm sure the eventual purchasers will also be aware that Everton Football Club is a sleeping giant and they have got some of the most loyal and fanatical supporters in the land, all desperate for some success.

"Okay," I said, "Do you want to call the authorities?"

"No," he says, "I have done that already, they said until something happens, like I crash, they can't do anything, their hands are tied."

"Oh god," I replied, "So what can I do to help?"

He said, "I just wondered if you wanted to buy the car?"

People who can get their hands on money, don't go about things the way Moshiri has gone about things. With the tap turned off on his master, one can only assume that they are in a very bad position financially right now?

I used to hold to that theory but I can't imagine any reason why 'the tap' needed to hide behind Moshiri. He had already lost his battle for Arsenal, he was not sanctioned at that time and there was no reason then to think he ever would be. Who saw the Ukraine war coming?

Even if he had not sold all his Arsenal shares by then (I can't remember) he would still have been able to buy 29% of Everton without bothering the Premier League rules. He had no reason to hide behind anybody at Arsenal so why at Everton?

It's obvious 'the tap' was involved with Moshiri's plans but it's just as likely his involvement was due to supporting his mate and increasing his company's exposure via naming rights for the training ground and the stadium.

If that was the case, then it's apparent that there was a financial connection and that all Moshiri ever was, was a frontman bankrolled until the tap was turned off.

It's clear and always has been he couldn't do it on his own... which means, if it was Usmanov bankrolling the club as the power behind the throne, then he needs another vehicle to make it happen.

His sunk cost will be large but better a future profit than a huge loss...

"It's not my decision to make," exclaimed Moshiri, when asked if he would be sacking Frank Lampard, after we lost at West Ham.

This proves nothing, but what a statement to make, at such a time! And still the Premier League haven't felt the need to intervene, even though they must be aware that Everton, at best, are in the hands of a crackpot, and at worst, it must be a lot more cynical than this.

Money is just a commodity when you have enough of it and see something you want. Rules are sidestepped to get those with money whatever they want.

A foothold in a large-scale redevelopment of Liverpool? A Premier League club with huge cash flows and liquidity? Far-fetched... honest!

It seems clear that Moshiri either did not wish to or more likely, could not afford to continue to fund the club during the high cash demands of the last year or so. One could argue he has played a blinder by luring in a potential purchaser to fund the day-to-day expenses, without seemingly any security on that money.

I'd love to see the contract between 777 Partners and Moshiri. Is it possible to imagine a private equity enterprise would put up £200M without any security or even certainty the transaction would complete? Could they really be that insane? Surely they must have a repayment clause if it fails to complete? Is that why Moshiri is desperate for it to succeed?

The role of R&MF is also perplexing. Setting aside their sources of money, I am led to believe their equally large slice is secured against future TV revenue. That would not be very secure if 777 finally completed and did what I think they would do, flog all our best players and lead us towards high probability relegation. Do not RM&F have a vested interest in this? They blocked MSP. Why so sanguine about 777?

I know Mike Gaynes thinks otherwise, but it is pretty clear to me at least that we are worth way, way less than the total amount that has been invested. According the Paul the Esk, and including Moshiri's full investment, I believe this would now amount to close to £1.3B. How much in the £ are we really worth? Debt free, at best £500M in my judgement.

I think some people's view of the stadium's value and revenue potential is wildly optimistic. MSP look the most secure, their £145M secured allegedly on the stadium should at least see their money safe. Presumably that is why they appear fairly relaxed about things.

Finally I do wonder whether 777 did get FCA approval. I can't see anything on the latter's website about 777 when you do a search. If they have approved them, even if only on a limited scale, one might ask what such approvals are worth, given recent revelations...

Rich people don't get rich to his level by being naive, so I think he knows what he is doing.

Smart? We are missing something in all this... it's like someone has a few of the jigsaw pieces in his pocket while we are all busy trying to see the picture.

A family who would reap the benefits for the rest of their lives – including you.

But, as they say, “Love is bleedin' blind”!

And nothing will have changed by then. No one can convince me that 777 Partners is good for Everton Football Club.

Even if Moshiri and 777 get something hashed out, I cannot see it being approved by the Premier League based on the fit and proper persons test and based on what we "know" about 777 and what the media has reported.

There are enough outlaws in my family without bringing in another one from Birkenhead!

Remember that Keith Wyness said that it would go to the wire and that looks likely. Who will blink first?

If Wander and his buddy have been removed by 777 Partners, where does that leave the Premier League's previous approval of 777's approval on the fit and proper person ruling? — Not that they will be able to meet the other conditions anyway.

And secondly, why can't we sell the naming rights to the new stadium and some of the leisure facility franchises and exploit other commercial opportunities instead of selling players and borrowing loans at inflated rates of interest?

Clearly someone is skirting taxes and regulations (seems to me at any rate) and it's stated that multiple football clubs use R&MF for lending.

I'd also guarantee the Premier League knows all about this and turns a blind eye.

Aside – I'm convinced terms like Labour, Tory, Republican, and Democrat don't matter any longer. They're all some odd cabal. The real issue in the world is evil power vs the masses and the way they dodge rules and create control. I'd bet the Premier League isn't exempt from this.

Conspiratorially yours. And no, I'm not a quack for the record.

** ps: I saw a wonderful quote a year or so ago on social media:

"The only difference between a conspiracy theory and the truth is a few months."

Others, it's taken decades. The latest one that some are finally starting to accept, now it's reaching a critical mass through the sources they will accept... well, look to the skies for that one.

There's a very, very long list of events and occurances coming to light in the age of the internet that make one wonder.

The FBI and the CIA are just lovely bureaucracies that make America's reputation shine around the globe. Grab a bottle of vino on a uneventful Friday night, Google "CIA cover ups" and enjoy. Some of it might be fantasy, some of it not. But the reading of it all is gold and certainly makes you think a bit.

Oh, and lest we forget, the last two whistleblowers from Boeing are dead. No one seems to be chatting about that. Odd to say the least, and frightening if you jump in that rabbit hole.

I find it all fascinating, and I'd bet there's a lot of very dodgy shit going down inside the EPL with financing. Might be wrong, who really knows?

As to the rest of it, I happily admit to being a multi-decade veteran, my rabbit hole has almost come out the other side, somewhere near Australia.

Tip: consider other search engines for interesting results.

You're in!

If that is the case, then I do see your point and I'm sure that you're right about seeing the full picture. Nevertheless, it would still be interesting to see Bobby's arguments for administration as the best option.

You, on the other hand, continue in one thread after another to wax loudly about corruption and Usmanov for which there is not the slightest thread of evidence (unless you have some that you can share?).

It is most definitely not me of we two who needs to chill, but thanks for the advice, Mark.

Worry not, people, it is in nobody's interest for us to either go into administration or cease to exist… at least, that is what I keep telling myself.

The report says they have been removed from the football division of 777 Partners. Surely that means they cannot put themselves forward as directors of Everton if things were to progress God forbid.

I, like many, have no idea when or how this ends but the alternatives don't seem very appetising. Many like me will have renewed their season tickets without knowing what league we may have been in, and now we know for the next season it's the Premier League.

But the club is in a financially distressed state and the likelihood is the vultures are waiting to pick the bones of the club. So we thought avoiding relegation would at least make for a stress-free summer, but that clearly isn't the case.

He was always destined to be Everton's billionaire! Cheers Kenwright!!