Sale of Everton to 777 Partners agreed

Just breaking on Sky.

I'm presuming this is pending the fit and proper persons checks by the FA, Premier League and the new Government Football Regulatory body.

“Closing of the transaction is expected to occur in the fourth quarter of 2023 and remains subject to regulatory approval, including from the Premier League, the Football Association, and the Financial Conduct Authority.”

Didn't think so...

Mr Moshiri's Open Letter to Everton Shareholders

Will the leech be prised away, quietly or kicking and screaming or in a headlock?

Is this good news?

I bet he has fooled MSP and they didn't think this was happening. I also firmly believe Kenwright is going nowhere.

I bet there were plenty other potential new owners out there, but Kenwight has again found the one that will leave him in place, just as happened when Moshiri took over.

At least the new owners have experience of owning football clubs and presumably they will be wanting to grow their investment. Surely they can't be as useless as Moshiri and Kenwright.

They are in it to make money. The stadiums are the only real asset. You have to fear we will end up renting the new place, especially if relegated. I believe that's what Coventry ended up with.

Moshiri just wanted out and they were the only viable buyer. Can't see much evidence they have cheered up the fans of the other clubs they own so I doubt anyone is getting too excited here!

I'd like to be more positive but I think we all need to see something tangible to get on the front foot. Fingers crossed I guess.

(Let the record show Jenny Seagrove is a woman of substance!)

So far it's just agreed subject to the usual scrutiny?

If that's not there, then it's Goodison all the way and Tesco move into Bramley-Moore Dock.

I'm happy that we have finally been freed from our ball and chain, aka Bill Kenwright, and we also got rid of Iwobi. Small consolation I know but every little bit helps.

Dyche out by Christmas? They'll probably want a ‘Hollywood Manager' — eg, Klinsman or Bruce Arena.

Not quite the time to celebrate the removal of the chairman, he is an important element of helping the transition between now and the formal ratification by the FA etc. If 777 are deemed unfit and unproper by the governing bodies, he'll be needed to assist the transition from late this year until a new buyer is found.

The fact that Mr Moshiri made the decision to sell to 777 is the most worrying aspect about the whole deal, his track record in making the right choices for Everton, is abysmal.

Sean Dyche might be concerned for his future too, as we'll likely get some weird replacement during the next international break.

Bloody shame if we end up renting the stadium like Finch Farm…

What a bloody fall from grace, made worse by the mad Iranian and his mad Russian mate brought in by narcissist blue arse Billy Liar. 🤷

Irrespective of the above, today may well be the day that we see the back of Bill Kenwright. As misguided as Moshiri was, his efforts never had the management team or board to make his investment work. I think Moshiri had no option but to sell, but he was driven there by Bill Kenwright.

His legacy for which he will always be remembered is BMD. It is his legacy, not Bill Kenwright's.

Good luck Blues, I might sleep more soundly than I have for 20 years.

For 777? I don't think you have a clue of the club you now own, the size, tradition, the fans, the expectations. But we will happily let you know on Sunday. It would appear the Directors seats may have new occupants by then.

Onwards, upwards. Thank God.

Moshiri: “We have secured the complete financing for our new stadium, which will be the critical element in the future success of Everton.”

Extremely uncertain times.

How can £500M include the ground?

Paul, these people own clubs all over the world. The Premier League aint gonna block this so that we can continue with the Ruskies.

I read (probably on here) that Goodison has more value in the scrap metal from the stadium, rather than the land. The new stadium is where all / any value is.

IMO you are spot on with "This is basically a property deal with a loss making football club attached."

I often write on TW that I want to go back to being a fan and not give a shit what debt the club has, what commercial partners it has, what the amortisation value of player X is. That only comes about through stability and competence of ownership, something we have lacked for a very long time now.

I don't hate Bill Kenwright, I just think he is utterly out of time and place in the modern game. The Premier League business fast exceeded anything he had an aptitude for, but his determination to hang on as chairman has made him the poster child for everything wrong with the club with some of it undoubtedly his fault and who knows whose fault since Moshiri took over?

I have everything crossed that if the 777 deal goes through, we subsequently become a better run club, but right now that feels closer to blind faith than anything else.

You're joking, right? We have to keep Kenwright on to “help with the transition”? No. We can get an administrator/company to hand over the keys to the mausoleum aka trophy room and to his private toilet.

Kenwright should not be allowed within a 50-mile radius of Goodison. The damage he's done to this once proud club is immeasurable and will become even clearer over time.

Moshiri has been a short-term horror show. Kenwright has been a 30-year-old nightmare.

Good riddance to bad rubbish.

Finally, I would like to thank the Chairman and those who are acting in interim positions at the Club for their commitment during the process to bring new investment and opportunity to the football club. They will continue to provide support and guidance in ensuring the smooth running of the Club during the next phase of this process, which will include the transaction gaining the required regulatory approval from the Premier League, the Football Association, and the Financial Conduct Authority. I will continue to update on that process as it progresses.

hen there is a nuclear war the only thing to survive will be that cockroach Kenwright, again he is retained!!!

Fucking feed up with the once esteemed club Everton Football Club being destroyed by Kenwright and his acolytes then finished totally by Moshiri.

Our new owner has a conviction for drug trafficking.

Just another normal day at Everton.

Of course Bill will stay on. Until his 10% commission isn’t deposited in his account, he won’t leave.

We've chased a generous billionaire and a lifelong Blue out of the club to replace them with snakes who will destroy our club.

I've never been more pessimistic about the future of our club.

Let's wait and see now, it's out of our hands. But one thing is for definite: Kenwright will only release his grasp of Everton when he's in a coffin.

So 777 have paid £500M just for the club and will not own BMD?!

No comment.

Where they might bring value is increasing commerical opportunities for the club. Not convinced by this lot. To me, Moshiri wanted out ASAP and is selling to whomever.

So there’s an agreement ‘subject to…’ some kind of fit and proper review by the Premier League. So likely to go ahead, I would assume.

But it’s all about the team on Sunday really (as it should be); we need to get up the table fast, otherwise any takeover ‘drag’ might take us down.

How do we think this news will play out at Goodison? I support EFC, not 777. UTFT.

He wasn't a "generous millionaire" Andrew, he merely provided surety to loans. We will be paying that debt for many years.

The new owners should be treated with total scepticism. They are only interested in profit. If we are lucky, they will run the club better and make us more stable.

The only good thing is that we should avoid administration.

777 cannot get rid of Kenwright until the ink is dry on the cheque handed over to Moshiri, and only then will a new board be formed, minus Kenwright.

I think the ongoing investigations into financial misdemeanours are what people are more likely to be referring to.

He was caught trying to deliver 31 grams of cocaine in a controlled package through the mail.

To what extent is the purchase being leveraged? Is that within the two thirds of the club’s valuation permitted by the Premier League’s rules? What does the valuation include? Who owns the new stadium? Are the prospective owners fit and suitable? … and so on. What happens to the shares owned by the minority shareholders?

On the playing front, I would be extremely concerned about the new owners seeking to appoint their own manager; very likely someone with the three Ps: a ‘progressive’ approach, a ‘philosophy’ and a ‘project’… Help!

If only one thing is assured, it will be that Everton FC will be run as a commercial investment, with a commercial strategy of no doubt 6 main bullet points in its executive summary — not the 120 aimless points by the previous board. Focus.

The big question is simple. What are they going to do to improve the team? How are they going to improve communication with fans? What is their objective and how are they going to do it?

Answer just those and it will go a long way on the road back from the last 20 years.

I think most of us would conclude that the worst day in the history of the club was the day Kenwright walked through the front door.

I think only a few see the chairman being retained after all the I's and T's are dotted and crossed, on the deal. However, he is here until the deal is ratified and who knows, 777 may believe that having Old Blue Eyes as the chairman of the new board as a good way to avoid some of the fit and proper tests for the directorships.

If the deal collapses due to 777 failing the scrutinisation process by the FA etc, we'll still require a Chairman and only Bill could fill the void, until a new buyer was found. In short, Bill's going to be chair until such time as the new owners decide otherwise and that's not a given.

I get the impression that some think he should have gone today, following the announcement, but no, they think 777 will retain him.

They might well do, who knows, but in my opinion, if they don't replace him as chairman, then I think Kenwright will slowly walk away anyway.

Moshiri agrees to sell his 94% stake in the club. Who owns the last 6%? Are those remaining shares scattered or do they sit with just a few people?

The government told them to wave through the world’s largest producer of oil (ahem, let’s look beyond the beheadings, misogyny, slaughter of dissidents when they renew their passport)…

But, a bunch of US equity fund chancers might not get the same reaction.

The only way Kenwright will leave is if he is removed by the owners. He is a power-hungry narcissist. They never walk away slowly.

They say a change is a s good as a rest and, by Jove ,we need a rest from those guys. Fingers crossed our fortunes will improve under the new investors.

It’s a pity those fit and proper tests were not in place when Kenwright bought the club, I doubt we would have been lumbered with him… too late now.

It looks like ‘It never rains but it pours’ where Everton are concerned. I hope it doesn’t turn out as bad as it is now.

What must be certain is Moshiri must be absolutely desperate for funds.

Three points at Goodison this Sunday much more important to me right now.

If they get proper business people in place, don't insist on communicating via TalkSport, improve our commercial deals in line with a club of our standing, communicate to us, the fans and make proper funds available to support our manager rather then endless late attempts at panic buys then that would be a whole lot better than we've experienced since Moshiri took over.

There's a list published somewhere, I think it's supplied by the Everton Shareholders Association.

Most of those owning shares are small shareholdings, but they still need to be asked about the deal, not that they could do much to prevent it, as Moshiri holds such a high percentage.

Everton takeover news: Farhad Moshiri agrees to sell club to American investment fund

The news says he's agreed to sell his 94%. I just wondered if the remaining 6% was one person, cheers.

It may be agreed in principle between Moshiri and 777 Partners; however, the Premier League must give approval, and if we are docked points, you would think these guys will have a clause in there somewhere that could change the outcome — Premier League approval or not!

The new guys are clearly seasoned sports investors. They may not have pots of cash, but hopefully they will know what they are doing. That's a profile we need.

There is no point in being taken over by incompetent billionaires, they can't spend the money anyway thanks to the cartel rules kindly put together by the corrupt bastards that run football.And I am truly sick of seeing vast amounts spent on rubbish.

This deal will go through though. They've bought clubs all over the world, and we are currently owned by people His Majesty's Government can't wait to see the back of.

Moshiri has only agreed to sell —they haven't paid him yet, plus why would anyone want to buy us if we get a points deduction??? Or are they only after the ground and don't give a rats arse about the team.

"Receiving only a few minutes warning of this proposed change of ownership is disappointing and yet again poor timing."

Wtf have those people been in a coma?

Is it a great shock to them?

They sound about as fucking cretinous as Moshiri himself. It's so petty to say such a thing. They've known it was coming. It's about time they grew up and stopped fucking whingeing.

I suggest they give up their shares to whoever they are because they are not helping. I bet they've been waiting in the wings to criticise Moshiri whatever he did.

Looks like in the two clubs that they completely own, Genoa and Standard Liege, the President was replaced very quickly. So there’s some hope there in ridding us of Kenwright.

What about MSP's £100M loan? Will 777 take on that debt? Will BMD be part of the buyout?

There's very little detail in the public domain on this deal.

But no one really knows how this will turn out.

I think there is much drama ahead. Our sadly missed days of mediocrity are gone. Sometimes, though, serenity is overrated.

I don't understand this apparent acceptance and almost certainty that Everton will receive a points deduction, it's very possible, but in my humble opinion, highly unlikely, if we do get a deduction of points, it will probably be a suspended one.

The fit and proper test might become a more likely issue to scupper the plans of Moshiri and 777 seeing as HM Government are in the process of creating a new body to oversee the governance of Football in England.

Of course this announcement, regardless of the outcome of the inquiries of the various bodies, may well be a 'pacifier' for the natives, in order for the money guys to buy time for themselves, nothing is quite what it seems in this modern environment.

I would have been happier to see MSP as the potential new owners, however, they either didn't see the value, or couldn't raise the funds to buy out Moshiri's total shareholding.

In my mind those are the key questions on which more information is required before we come to any conclusions about this deal.

I've no idea what's been spent so far on the new stadium but it must be into hundreds of millions. Moshiri can't, or won't, finance it to completion. MSP coughed up £100M towards the completion. How much more will be needed? Will 777 acquire the new stadium as it stands?

I expect Everton will eventually be loaded with enormous debt for years while the new shareholders declare for themselves hefty dividends.

In retrospect, he's the biggest bullshit merchant bar none apparently taking a massive financial hit in his desperation to flee a mess of his own creation.

The absolute chancer is selling to the first carpet baggers who stump up the dough despite announcing the club was not for sale not too long ago and with the club's future on the line with his ill-timed stadium decision.

Still, I'm surprised he's scarpering now given his long-promised striker (is it years?) has finally materialised.

Take care, Moshiri, you'll always have a warm welcome round here… it might be when the Mercedes mysteriously catches fire but who cares about detail?

Paul the Esk sticking to his guns regarding his belief that 777 haven't got the dosh to pay Mosh? Which parties would be able to scupper the deal by witholding their support? Banks, MSP, Rights & Media Funding?

They seem to be an investment outfit that conducts business in a "leverage this asset to buy that asset, then leverage another asset to buy another asset, rinse, wash, repeat."

That's a speedway to bankruptcy and is shady.

What is their liquidity position? Like, how much actual cash do they have in accounts?

If they have a ton, super. But if my hunch is correct and they don't really have much at all comparatively to their debts, I'm scared.

Does the Esk have any data to back that assertion?

It would seem that Paul the Esk agrees with you, given his response on Twitter/X.

Why the hell, is nothing straightforward with this club?

If they are buying all Moshiri's shares as stated, then they must have a credit line from somewhere.

Paul the Esk still saying;

“Regarding today's announcement of an agreement between Moshiri and 777 partners I stand by my assessment that 777 do not have the resources to successfully acquire the club, nor will get the support of all parties that are required to give that support.”

If he has, he hasn't yet provided it, he does have close relationships with some of the guys at MSP, so perhaps that's why he's sceptical about the financial position of 777.

Why would you announce an agreement is in place, if there was a real chance that the potential buyers couldn't fund the purchase?

During the negotiations to buy Vasco, Brazilian newspaper O Globo revealed that Wander had been convicted in 2004 for ordering cocaine in the mail while a 22-year-old student of the University of Florida. Facing a possible 26-year sentence, he pleaded no contest and received 15 years of probation, that ended in 2018. Wander's conviction has been brought up in the media, and in an interview with the Financial Times he called it a "stupid college thing" and a "perfect opportunity for those people that are haters to try to destroy you with things that are somewhat meaningless".

It was 20 years ago when he was 22.

News Paper Report reads

Cocaine trafficker pleads no contest

A University of Florida graduate who was arrested and charged last year in trafficking cocaine through the mail avoided a possible 26-year prison sentence by pleading no contest Friday.

Joshua Craig Wander, 22, was placed on drug-offender probation for 15 years, according to court records. A related case is being investigated, and Wander must cooperate before he will be off the hook, said Spencer Mann, a spokesman for the State Attorney's Office.

On Feb. 14 2004, US postal inspectors and the Florida Department of Law Enforcement Multi-agency Drug Task Force used a search warrant to open a package sent to Wander, according to the arrest report. Agents found 31.2 grams of cocaine inside the package and attached a transmission device to it, the report stated.

Wander received the package, opened it and was arrested. After being read his rights, Wander admitted the cocaine was for him and a friend, the report stated.

Bit of research (US government website) says the price in the UK was $100/gm so this was $3,000. But I am sure the press will hang him for this for the rest of his life.

I am sure Captain Mainwaring has an appropriate phrase for him.

That tells me the new owners have bought into the bullshit sold by the current chairman that the fans need to be spoken to in a special language, and that therefore they will need an 'interpreter'. I wonder who…???

He inherited a mess of a club and has left it in an even bigger mess for reasons that have been well-documented.

None of us know how this will pan out.

Does Moshiri still have an interest in the Royal Liver Building?

A US firm run by a drug dealer and accused of "fraud, kidnapping, extortion, predatory lending and racketeering" will find every imbecile German Sparkasse banker who bought financial toxic waste before 2008, borrow as much as possible, flog the stadium to the Redshite and do a runner.

Everton FC is over.

Moshiri will not lose a single penny, and Bill will walk away a much richer man, than he was before coming onboard at Everton.

Unless this is another ploy, knowing the chances of these owners passing scrutiny are a case of better the devil you know, and suddenly Moshiri and Bill come out smelling of roses, and the flames are dampened for them.

What’s that’s famous ToffeeWeb quip, be careful what you wish for.

I just cannot fathom out if the top people at Everton, know this will not get passed, but it then looks like we should stick with what we have, or he is trying to flush out other investors.

We go from an Uzbekistan backed Iranian to an American investment firm. Prior to that we had a local. None of them have really been palatable.

What would good owners look like? Like a Middle Eastern government?

It all feels a bit soulless.

I could feel sorry for him if he wasn't the epitome of a brainless affluent spud, wealthy not because of ability but personal connections.

From his unofficial delegation of Jim White as personal communicator to ludicrous pronouncements about McCarthy and Lukaku allied to his managerial lucky dip the man is a disaster.

If he never gets a mention in these parts again, it will be too soon.

I was ready to walk away from a lifetime of being a blue, had Usmanov formally taken over. That was weak as piss on my part. Like most, I already knew that he was the club's de facto owner but at least it was a line in the sand.

Where are we now? 'Fuck knows' is probably going to be the answer for the foreseeable future at least.

Significant barriers to conclusion of Moshiri 777 partners agreement

I know nothing about business, so have no idea how feasible that all is, but just thought I'd pass it on...

Yes I feel a bit sorry for Moshiri but you have to wonder why he, and especially Usmanov, didn't delve into the background of Kenwright and how he ran the club, unless they had plans to improve Everton as a club, as well as making brewsters for themselves which were altered by the war in Ukraine.

We can only wait and see how the club is run from now on and if this deal is given the nod to carry on.

"777 are reported to have $12B worth of assets"

And yet they've set up a Ponzi scheme in Genoa to raise a paltry €5 million from fans.

I personally can't see this not happening and think I am optimistic on balance having read various bits and pieces about 777 Partners. The notion of potentially having feeder clubs (given that we are the crown jewel, as it were, in their portfolio) in other countries is lighting up the right dials at the moment.

Have to wait and see whether this one gets through. For those concerned at the background of these potential new equity investors I'd advise you to look into the owners of Man City and Newcastle if you really want dark.

More concerned at whether we can get a point against Arsenal.

Think there might be a few more twists and turns in this one.

Moshiri deserves no sympathy, his period of ownership has been a disaster!

What the future holds, who knows, but if nothing happened at ownership level then I fear that things would have gotten out of control.

2.50 down Patrick theonewedreamof 7/1

300 Doncaster Sweet William 5/2

3.15 Sandown our golden one 10/1

There is also 3.25 Down Patrick no show 6/1

3.55 Chester gis a sub 12/1

And for Tony and quite a few others

4.10 Doncaster there’s the door 11/2

Now if ever a film was appropriate for our current regime, it would have to be one flew over the cuckoos nest.

I think 777 will be far more informed than us with regards to our own actual transgressions, and most saliently what any likely penalty will be, and likewise, I expect Moshiri and co' will be far more clued up about 777's likelihood of passing scrutiny from the PL, HMG or whoever.
I personally can't see this not happening and think I am optimistic on balance having read various bits and pieces about 777. The notion of potentially having feeder clubs (given that we are the crown jewels as it were in their portfolio) in other countries is lighting up the right dials at the moment.

I'm enjoying all the speculation here. Of course, we have no idea where all this is headed.

It is not subject to government approval. The BBC have even clarified this point with the government today. It is the EPL who have to approve it.

Also, I am not sure why MSP would have to approve it. They made a loan to the club, the owner's have changed but it's not typical for lenders to call in all the loans when a business ownership changes. I know there was said to be an issue with rights media but that shell company run by the dancer from Riverdance had some weird deal where they can call in the loan if we are relegated. The MSP loan was for the stadium so presumably has some kind of collateral claim on the stadium as opposed to rights media which appears to have been basically secured against future TV rights which we won't get if we are relegated. Also, having been in discussions with Farhad about buying the club as well as the loan, obviously MSP must be aware of the situation regarding finance and the fact Moshiri was looking to sell the club when they made that loan. You wouldn't need to be a genius to realize once their deal collapsed that the only other party involved in talks would end up completing a deal.

But with all of that having been said, it seems like the end is nigh. Kidnapping coke heads who made their money buying out long term insurance plans for the suffering for pennies on the dollar, don't seem like the type to come in and do a Jack Walker. Be interesting to see the "commercialization" attempts. Ticket hikes? Mystic meg 1800 numbers charging 10 quid a minute for fans to get insight into the club? Talk of selling homeowners insurance to fans? Would you trust these extortionists to protect your home?

Why? The alternative is for the EPL to deny the acquisition, and force Moshri to maintain ownership. And the EPL knows for a fact that one of the most illustrious, historical sporting teams in England and the world will be forced into bankruptcy / administration.

They have no choice really. This is a poker game they can't win in the end, and if they have any ability to see past move #1, they'll allow the sale of the club to 777.

And quickly to Ed @63 -

If my prediction is correct and Paul The Esk is wrong, it in no way diminishes Paul's credibility. He has a hell of a lot more facts in which to make a very intelligent prognostication. He's a wealth of information regarding all things Everton financially, and if he's wrong on this count, he's still WAY more correct WAY more often than not.

I just don't believe this can be stopped because the alternative very well could be Everton ruination, and the EPL simply will not want that at all. It's a black eye on them and the league.

Finally, we won't get docked points. If they were considering it, they won't saddle new ownerships with the sins of former ownership.

We'll see what pans out.

They say that Moshiri has about 750M in Everton and the club is worth about 470M, so Farhad is taking a 280M haircut.

777 say they will strengthen the balance sheet which presumably means paying off some of the loans that total about 350M so they will have to raise 500M or more at the outset plus whatever it takes to finish the stadium.

Not speaking for Mike at all, but they seem on the surface shady as fuck.

Someone above coined 777 as the McDonalds investment strategy - leverage the assets of brick and mortar against new purchases. I think that's accurate. And it equates to little liquidity relative to debt, and a massive amount of debt. If the debt is manageable, great. If it's not, it's unavoidably destructive.

Again, Mike can answer and will, I just had to chime in.

I'm always willing to listen to any conspiracy theory! Always good stuff.

Yours is diabolically intelligent if that was the plan by Moshri. The issue is he's got no leverage to make that play. Everton is a sinking ship he needs to jump off. He doesn't have the resources to play that move in my opinion.

But the thought is priceless!

I don't think it's good, and I'm officially scared.

I wonder if the rumours of Saudi money are true.

In a post on X, formerly Twitter, he say: “777 or 999? Moshiri says new #EFC owners are “right fit” for club. @premierleague need to clear 777 via OADT, check background and resources. Proper communication with fans, please. 777 may well be fine but, generally for good of the game, the regulator can’t start soon enough.”

You can bet that if it is indeed a good deal for Everton FC, it will be knocked back, if on the other hand it's a bad deal for the club, it'll get rapid approval, such is life being an Everton supporter!

What chance for proposed Everton FC takeover succeeding?

Can you expound on the "rumors of Saudi money"?

I have no knowledge of this? Is 777 backed by stupid oil money?

I need a brief education on this as it might be a bright light in what I see as a damn dim situation. And if it's conjecture I don't care - what are you referring to?

Acknowledging Moshiri's mistakes, the first paragraph in the open letter is wholly true. He failed in his chance, but those kind of chances are essentially over when it comes to larger clubs.

We now sit back to watch our club be subjected to operation not as an historic football club and supporting business, but as an investment opportunity in an asset class. The 777 statement is about as expected, now seen for the thousandth time.

I'm not looking forward to it.

Everton takeover: Chaos, waste & dysfunction – how Farhad Moshiri's reign will be remembered

Moshiri is just a puppet. This is all about Usmanov. He knew we needed a new stadium, and he was prepared to inject money into the club on the basis that part of his business is in metals and construction so the building of the stadium would essentially pump a decent portion of the stadium cost back into his own pocket - so a sort of double bubble scenario.

With a new stadium the club would soon have the platform to compete with the “bigger” PL clubs, and £500 million worth of payers might hurry that process along. Unfortunately that money was frittered away, and here we are looking like we’ll be desperately clinging to our PL status for the third season in a row.

The £500 million valuation must surely include the stadium and all of the debts. This probably means that Everton is valued at around a £1 billion. Somehow Moshiri (read Usmanov) has probably just about cleaned his nose on 8 very odd years of being at the helm. Who knows what the 777 lot are planning, but it’s good riddance Usmanov/Moshiri as far as I’m concerned.

And as for all those people saying they don’t hate Kenwright… he sold the ENTIRE fan base out during head-lock gate, just to make himself and the board out as victims and to excuse himself from having to face a dissenting crowd. Coward. Liar. Snake.

I honestly don't believe that Usmanov had any say in how Everton was run and if he had been, I wouldn't have expected such a mess to be made of things.

On the other hand 777 are probably the vultures that they are being made out to be, they'll see the completion of the stadium, if they can't keep the whole shebang running, they'll flip the club and we'll have some other new owner in 18 months time, that's of course if 777 end up purchasing the club in the meantime.

there are several ways things can go; that is certainly possible.

Once a club (or any entity) loses its tangible held assets, its soul resides in only its name and memories, the history. It becomes more a concept. Should the name then ever be changed...

The only positive thing to happen to us is signing Beto and getting shut of Maupay. I just can't take anymore...

Many hurdles and hoops to jump through before ratified, however my feeling is that surely you would find out if you would be accepted by the regulator and the league before spending your time and money getting to this point ?

Surely 777 have explored if they would be allowed to take over and must be confident.

I mean are they any worse than the oligarchs, gulf states or other owners ?

Let's see and hear how it goes before we start saying sack the board again!

777 came in and stabilised club who were in financial meltdown. improved all aspects of financial mgmt, attracted new sponsors, improved whole mgmt structure. results on the pitch not there yet, happy they’ll come as underlying problems are being resolved

The Public Investment Fund (PIF) are exploring buying part of multi-club 777 Partners.

PIF are the Saudi group.

Kenwright mortgaged Goodison for 15m and its valuation is probably around that so no equity there.

Let me throw another conspiracy theory out there. Maybe Usmanov through 777 with Moshiri's "money laundering Skills" is behind this deal as one of the ways he can move his money around??

MSP and Rights and Media have loans totaling 350m which would have to be paid off by a new majority investor otherwise they can block the deal as was the case with MSP's proposed takeover.

I have mixed views over this potential deal as major question marks remain over 777 and the characters that run it but then can anything be worse than slow death by Moshiri and Kenwright.

Surely we could expect it to be wasted in a much shorter period than that!

Trouble with you, Pat, is you have no real ambition! :)

Puts to bed the liquidity concern surely with 777. They'd have near limitless resources with a partner who swims in a pool of gold coins.

Change of control provisions are quite common in loan contracts so the lender has some say if the owner changes - ie the new owner may not be someone they can accept for various reasons. Normally a change is fine but the lender needs to sign off.

As for 777, well. trying to look on the positive side we were in a slow moving car crash anyway. This either stops the crash with an ambulance parked nearby, or, the crash carries on over the cliff edge. The recent history of the club would make a sensational film which watchers would likely refuse to believe was based on the truth.

We could get to Xmas with the FA hearing rear view mirror and no material fines, Kenwright gone and safely halfway up the league with Dyche getting some wins with the main troops injury-free. Happy days!

Or we could get to Xmas fucked!

We had some good times… what would Everton do?

However, this pales into insignificance compared to Newcastle, with PIF having an estimated net worth of £496B. Slightly less than your £514B, but what's a few billion quid anyway, as far as PIF are concerned?

it's all a pyramid, it's moving at an exponential rate. There are no longer monopolies commissions or similar. National governments, particularly in the West are being rapidly reduced to figurehead status and will have little say.

Football and other major entertainments have a part to play in the bread and circuses social element of the global "Future" and will eventually be owned and controlled from the highest levels.

Expect more of such.

So just who are these Miami-based guys? Their top football suit is Don Dransfield, former chief strategy officer for City Football Group, a similar multi-club setup. Co-founder Joshua Wander made his money in the world of structured settlements, where insurance payments are cashed as a lump sum rather than paid periodically to claimants wanting fast cash instead.

Any Toffees celebrating a new owner, any new owner, might wish to see how far 777 Partners stretch the elasticity of the Premier League's fabled “fit and proper persons” test. Wander also carries a serious federal drug conviction, albeit from 20 years ago. Whatever, those Championship jaws look open.

No detail on the transaction cost of the shareholding but I suspect that is minimal and a lot less than Moshiri has invested. This is a distressed sale.

My guess is that the various loans, to MSP, Rights and Media and Moshiri's own loans remain outstanding and will need to be serviced. In total, they likely dwarf the equity value. The £500M I've seen quoted in parts of the media probably relates mostly to these loans. And as Moshiri makes clear, the stadium needs more, probably at least £150M plus in an ideal world, an extra £50M or so in the form of working capital.

It does make me wonder if there is someone or something in the background with this deal. 777 claim some £12bn in assets under management but even if that is accurate, I'd doubt they have much in the way of liquidity so unless they are going to borrow (at penal interest rates) against those assets, I think they might need funding from elsewhere to make this work. The Saudis? One of the Man Utd bidders? Even MSP?

Also just seen that our biggest lender is happy with the arrangement. Tiny crumbs of comfort at least.

Yep agree, I am sure more will come out over the next few days/weeks negative and positive, only time will tell.

Think I will reserve judgment until they say what the plan is for the future of the club.

I haven't yet researched what Marc said but 777 as a group owns multiple clubs in other countries. It would be possible to invest "generally" in part of 777 etc... as stated. There are usually ways and this will only continue.

I do like a good reserved judgment :-)

So those Evertonians who refused to blame him for the downfall of our club, should hang their heads in shame.

Remember this, before Moshiri came to us, Everton was a club that would often finish at the business end of the Premier League, and occasionally play in Europe. Now it looks like the Championship.

In relation to the drug allegations circulating today, 777 would appear to be 'The Boys from the White Stuff'!

Re Vasco, not sure what the guy means by "results not there yet"... Vasco won promotion to Brazil Serie A last season. They were in Serie B when 777 acquired them 18 months ago.

They're struggling in the top tier with only 4 wins in 21, but it's still an improvement.

I think you're right but there are also loopholes in this as they can fund through 777 as a separate group or company?

I am no expert but this is the type of stuff going around the media at the moment.

Of course PIF could not be involved at all!

Yes, I thought that when I looked up the results, maybe he is just stating we are not top 2 or 4 yet but getting there.

I have seen a lot of positive stuff from various sources on 777, then very negative from fans at Standard Liege.

Looking at the picture of the gates, just gets me thinking how wrong the club motto has been for decades, it's about as appropriate as The Peoples Club.

"I do like a good reserved judgment :-)"

Superb, Will!

Which means, "I couldn't find anyone else to buy the club." 777 took control of Sevilla, who last season, won the Europa League, yet 'Sevilla have reportedly placed their entire first-team squad up for sale as the club look to combat debts of around €90M. Just weeks after winning a record-extending seventh Europa League trophy, the Spanish side could see their squad decimated in a bid to cut costs and wipe out their debt.'

Some posters on here talk about a good deal, where Everton could benefit from these 777 'feeder clubs'… but think about this: Sevilla will be playing in the Champions League next season, so where are they going to get decent players from? Could it be from perennial relegation strugglers Everton? Who are the bigger club, the more enticing project?

Colin #131, apologies for overlooking your query, but I know nothing about 777 aside from their existing football portfolio. I too am unbothered by the founder's 20-year-old drug bust, but I have no information pro or con to support or dispute Jamie's characterizations.

I'm still hopeful that MSP will take an ownership stake at some point, perhaps in lieu of cash repayment of part or all of their $100M stadium loan. And I assume that MSP and 777 have been in communication through these coinciding transactions, because it would seem to be wise in the due diligence process, but that's pure speculation on my part -- I have heard or read nothing to that effect.

But we were happy because our old Dad said we had good times once.

“When identifying potential clubs to buy, 777 look at four parameters. They look for clubs with financial problems, a big fanbase, an ability to produce players through its youth academy because their model is to develop them and sell them on to generate funds and also to have an airport nearby because they also have aviation interests.”

“Josh Wander will not come to every game though, he's not like another American businessman John Textor. who is the leading shareholder at Molenbeek as well as the likes of Crystal Palace and Olympique Lyonnais, who is often present. It's difficult for the supporters because there's not always a figure there to protest against.”

777 is not, repeat not, in control of Sevilla. According to The Athletic, 777 owns only about 15% of the shares.

Sevilla is being ripped apart by a battle for control between two factions led by two guys named Castro and Del Nido. The latter took control of the club when the former went to jail. They've been waging a 5-year tug of war for 777's swing votes.

It's that battle that has decimated the club's financial stability, not anything 777 has done (again according to The Athletic).

If Sevilla have debts at that level, then it makes total sense to get their finances under control even if that involves a bit of shorter-term pain. We are already going through that process and have been since Ancelotti left.

It looks like Hertha Berlin, Vasco da Gama and Genoa have each had serious financial problems too.

Presumably this is what allows 777 to buy these clubs in the first place. They are a mess, full of debt, and therefore affordable. But if you can turn it around, you will have an established club on your hands which might start to make some money.

So it's absolutely not going to be spending sprees etc – but it may well mean a much more professional approach to spending money, developing players, and competing at the upper end of the Premier League. There's no shortcut to this.

If any of the clubs in the empire are feeder clubs, it will be Vasco, Melbourne and Liege. This is simply economics, I expect, because wage demands in these leagues are much lower. So if a feeder club model is adopted (which could take years) then I don't think we'll be too badly placed. For the time being, it wouldn't be a huge surprise to see some of the players moved around the 777 empire like the owners of Watford and Udinese used to do.

Personally, my view is that the transfer market is so unsustainable, there really is no choice long term but to try ways to circumvent it, with stables of players being developed for an empire of clubs being one way to do it. It's another reason to detest what football has become but ,if you can't beat them, join them?

I expect all of these clubs will focus on (like us) building up a squad from the free, the cheap and the on-loan – with a focus on youth development over a medium to long term – and not just foreign youth but development of homegrown too.

You can see some signs of this with the squads of Vasco, Hertha and Genoa although probably early days to read too much in.

Seems like a case of cutting losses due to lack of funds, allegedly due to the invasion of Ukraine by Putin with the consequential sanctions imposed on Putin's pals.

May be a case of frying pan to fire I suspect, though I hope not. UTFT.

So who the owners employ to do this is key. Basic I know, but most sensible Blues could see the shortcomings of the previous bunch, even if they believed they were doing a great job. Let's see how this plays out, we might be surprised with some common sense, professionalism and leadership being shown.

I hate the modern football ‘model' but we have to move on, we can't choose so let's see what gets announced by them on the people side of things.

The PIF or PCP with their backing could take a significant minority stake in 777 Partners and then align Newcastle within the framework of clubs. It seems this may be currently within the rules, I don't know…

Take a look at this article from back in March:

The potential involvement of PCP and the PIF would bolster 777's intentions in creating a vast multi-club network. The US firm has been recently linked with an investment in Premier League club Everton and an injection of funds would allow it to continue propping up the web of teams it already has invested in, while also pursuing new targets.

“For PCP and the PIF, it would provide an opportunity to align Newcastle with an existing multi-club ownership model without having to cultivate one themselves. Speaking at the recent Financial Times' (FT) Business of Football Summit, Staveley confirmed the club were examining the prospect of a multi-club network, voicing her desire to expand Newcastle's brand globally, while also allowing for easier player movement without any intervention from their rivals in the transfer market.

Despite the increasingly popularity of the multi-club ownership model, Uefa has warned the increase in networks could endanger the ‘integrity' of European club soccer. However, Uefa president Aleksander Ceferin recently admitted that the governing body's current regulations could be tweaked to accommodate the demand to cultivate webs of different soccer clubs.”

I think the timing is also determining the mix of who buys. We are a candidate for becoming a distressed club and, with the current financial climate, these were the types that will come in on Moshiri's terms. I'm going full Dr Pangloss and saying "See, it always works out!"

The core of today's football model is what Robert says. I think the window just completed tells us we can do okay on a rebuild. Yes, there will be some future names we will have to deal out early but the club position will improve for both table and transfer destination.

Kenwright and Moshiri on the bench! Didi and Gogo (please!)

Cocaine trafficker pleads no contest

A University of Florida graduate who was arrested and charged last year in trafficking cocaine through the mail avoided a possible 26-year prison sentence by pleading no contest Friday.

Joshua Craig Wander, 22, was placed on drug-offender probation for 15 years, according to court records. A related case is being investigated, and Wander must cooperate before he will be off the hook, said Spencer Mann, a spokesman for the State Attorney's Office.

On Feb. 14 2004, US postal inspectors and the Florida Department of Law Enforcement Multi-agency Drug Task Force used a search warrant to open a package sent to Wander, according to the arrest report. Agents found 31.2 grams of cocaine inside the package and attached a transmission device to it, the report stated.

Wander received the package, opened it and was arrested. After being read his rights, Wander admitted the cocaine was for him and a friend, the report stated.

31,2gm - Bit of research (US government website) says the price in the UK was $100/gm so this was $3,000. But I am sure the press will hang him for this for the rest of his life. Mind you Wayne is still paying the price for visiting older ladies around the same time.

I am sure Captain Mainwaring has an appropriate phrase for both of them.

You can always tell which side the media is on, by who they choose to make examples of, I'm sure they were this outspoken with regards to the people behind the takeover of Newcastle United, but of course the Johnson Government were helping to make that deal happen, so perhaps they weren't quite as blatant about it.

Perhaps, our new kits, if the deal goes ahead, will be emblazoned with 'coke'?

No track record of anything positive and I suspect we won't be buying players without selling for a long long time. There is literally zero evidence that this will benefit us and a bucket load that says we're in serious trouble if this goes ahead.

On a side note, as an addict in recovery, having a drug smuggler own us leaves a very bitter taste.

“Everton fans, one would think, to a large extent are relieved this morning,” White said live on talkSPORT. “But it might well be a case of be careful what you wish for.

“Everton as a club, if the right people get their hands on this club, there's no telling what it could become.”

Link

In other recent news “777 Partners, the Miami-based investment fund reportedly in talks to buy Premier League club Everton, has launched a supporters' bond to raise money for a new training centre at Italian club Genoa.” Time for a whip-round.

But I'd suggest there isn't a CEO in the Premier League who hasn't done a line of coke!!

The negativity from the press today is ridiculous. Aimed at Wander, Aimed at Everton, and Aimed at Moshiri. There is no story in a positive outcome for the press. There's no story if it all goes through smoothly and passes tests, no story if 777 Partners take over and slowly turn the club around.

The big story they want is for 777 Partners to fail. Wander to fail the owner's test, Rights & Media Funding to oppose it, the regulators to oppose it.

The story they want is Everton left in limbo, historic club on the brink, stadium not being finished, Everton's financial problems taking them down… and maybe out! Not one positive word in the press!!!

I'm not backing the takeover, I know so little, but surely there are pros and cons? Surely they have something to offer, surely there's another side that the press are not speaking about? You don't get to be worth billions & manage billions without having some business acumen.

But there's no headline in "Firm buy Everton and given time may turn around the club" — who's clicking that story over "Drug smuggling conman won't pass test to buy Everton"??

They havent invested in any of them as they don't have the resources so their model is for the club to generate the funds. Apparently they are looking to upgrade the training ground at Genoa but they are asking the fans to invest and they will give them a return of 9% on their investment.

This deal agreed with Moshiri is also dependent on Everton having Premier League football next season and also dependent on what conclusions the independent commission decide on if we have broken the Premier League's Profitability and Sustainability Rules.

Maybe our saving grace to this deal going through could be if Rights and Media Funding, who have a £200M loan with the club, as well as MSP with their £100M loan, both object to any deal that doesn't clear their loans in full as their lending agreement was with Moshiri and not with 777 Partners.

That's my take on the situation anyway, they will want Moshiri and his mate well out of it.

777 Partners know we are just making up the numbers and have a snowball's chance in hell of winning anything: I can't see that changing with them in charge.

Supporting Everton is going to take a new turn. Can 777 Partners jump through the hoops of regulations and what will the independent mommission bring?

I did not see this coming. Glad to see the back of Moshiri, Bill still there and we have to be careful what we wish for 777 Partners.

Actually my lucky number is 7 and my lucky colour is Blue.

Checked again. Not true. Just some kid who tweets 777 news.

If. and it's a big 'if', 777 are committed to finishing the new stadium at Bramley-Moore Dock but not to transfer acquisition! — Media hype hopefully, but where do we go from here? Several years of mediocrity?

At my age (72), I doubt if l'll ever see the glory days again! Sincerely hope I'm wrong!
Evertonian since 1964.

I hope Everton's ownership of the new stadium at Bramley-Moore Dock isn't comprised. Looks like 777 Partners have a lot to prove to the UK football authorities. Buying up football clubs like corner shops but on a global scale. Fifa and Uefa must be taking stock.

For me, where will 777 Partners find funds to buy out Moshiri and secure the completion of the new stadium? I'm intrigued but there's too much in this one to speculate on the ifs and hows, and if?

There's a lot more to be discovered, I sense. But we shall see. But surely it can't get any worse for Everton than the best part of 30 years of oblivion.

But hope eternal; let's hope it's not gonna be 666 for Everton FC.

UTFTs!

We have one charge and it's in the papers every single day, while nothing about Man City and over 100 offences.

Newcastle bought by the Saudis, not a murmur. As soon as we have someone, news that's 20 years old is dug up.

Every VAR decision against us, overlooked. As soon as it's on the very rare occasion against a Top 6 team, it's scrutinised and the ref hounded by the media and press.

For whatever reason, the press and media get a kinky power surge on attacking or belittling Everton.

The only one who is the biggest target, Bill Kenwright, gets no bad press whatsoever.

"MSP did, though, agree to lend Everton’s stadium-construction company subsidiary almost £140million, with that money arriving in three tranches between May and August. That money has already been used to pay off the IOUs the club had been sending to Laing O’Rourke, the firm building the new ground. Those IOUs are mounting once more."

"And spare a thought for poor old Laing O’Rourke. Times are tough in the stadium construction business, as the margins in that industry have never been particularly generous. Does it down tools until it knows who is paying its bills or keep going, hoping it will get paid eventually?"

"A points deduction is very much on the table as a possible punishment."

I noticed that too and most on the front page look like extras from Goodfellas.

I've posted similar on another thread, imagining that the majority of supporters are much like myself and know naff all about 777 Partners other than what's available via the likes of BBC, Sky, Guardian, Mail, TalkShite, Jim White, Steve Parish and ex-player pundits with the IQ of a goldfish.

They all have one thing in common in not letting the facts get in the way of a good story, (particularly if it means they can put the boot into us at the same time).

Take for example the way The Guardian paint Wander as some major trafficker, conveniently leaving out some key facts, like it was 20 years ago when he was a student, and the market value in question was $3,000, hardly Pablo Escobar proportions? But hey-ho, this sort of fake-news is considered acceptable nowadays, and then gets peddled as fact by the above halfwits.

The only views I trust on football matters are those of other match-going supporters, because we all know what we pay to watch and have a good measure of what goes on behind the scenes at our respective clubs. We don't need some halfwits on TalkShite, talking shite about clubs we've supported all our lives.

That's why, when we're linked with players in the transfer window, I tap into the respective fans' websites to get a true measure of the players in question from those qualified to comment – the match going fans. Likewise, this 777 takeover, although Marc
(#152) beat me to it with his comments from a Vasco supporter, whose experience of 777 and their impact on his club is a positive one, having got promoted to the top tier under their stewardship last season.

Which is similar to a post from a Genoa fan on Facebook that I copied on another thread, stating that they were a godsend for his club as they'd paid off all the club debts left by the previous owners and had restructured and made improvements at all levels of the club, with record season ticket sales this season.

These are encouraging moves for both these clubs under 777 stewardship and positive experiences being felt by the people who really matter — the match-going fans.

So these are some of the facts, but not the sort of news they want to peddle! So let's take a step back and, if it happens, judge 777 by their actions, and not the misinformation peddled by these media halfwits.

I'll keep an open mind, until the next instalment of the Everton story.

I've often pondered whether the choice of the name "Athletic" was down to it being a predominantly sports site or whether it was a hidden nod to the neighbours who once upon a time wished to be called Everton Athletic.

Moshiri and he who cannot be named, likely had intended to maintain control and stave off relegation via the proposed MSP funding, until such time as the stadium was complete. At that point, they would have sought to cash in on their very attractive asset. It would not have raised anything like Chelsea, but would have been somewhat in excess of the £500M Moshiri in obvious desperation has had to settle for.

I expect 777 Partners to see the project through and to make the necessary investment in the team if they are to obtain benefit from their acquisition. What is the alternative?

I often wonder where you got this idea that everything an owner or club does, should be in consultation with its supporters? It may have happened with Everton FC in the early days and there has been a tradition of communication with supporters for most of its history, but that was a time when they needed bums on seats to keep the business viable.

Nowadays supporters are there to create an atmosphere, buy merchandise, and as such are treated as customers rather than an integral part of the club. There's far more money to be made from TV revenue than from the match-going supporters.

Having said all of the above, no owner has, to my knowledge, asked the fans about who should take over the club.

Just get Kenwright out and move on. It can't be any worse than it is now. The whole place is broken.

No money to change hands until next year.
Price is dependent on the investigation results due in October.
And price will change if we go down.

Sounds a bit like how we bought Beto.

Anyone convicted of drugs offences isn't allowed into the US but this guy is a mayoral candidate – and doesn't even live in the country!

Michael @215 — Why would Moshiri consult the supporters on who to sell the club to?

We have never been consulted on the sale of the club.

I very much dislike cocaine but suspect that, as a college student, he was trying to get a better deal for himself than buying an eight-ball at a time. Only he will know the truth about that.

And it was 20 years ago, who didn't make stupid mistakes at that age?

An update has been shared on Bill Kenwright's future at Everton as Farhad Moshiri sold his controlling stake to 777 Partners, according to the Evening Standard.

The London-based newspaper reported on Friday (15 September) that the chairman is likely to leave the club under the new ownership.

Any bets on how many Evertoinians will wish uncle Bill all the best and "Once a Blue, Always a Blue" and he had all our best interests at heart? I won't 100%.

Evil fucker. What have we become?

What's that in today's money?

I predict 777 Partners will not spend much but long term might do a pretty decent job.

And I'd far prefer the latter. Do some research into Don Dransfield if you want cause for optimism. Very capable and well-thought-of guy who runs football operations for 777 Partners and will probably be heavily involved at Everton.

From what I understand, the Premier League won't hold this deal up.

In 1981, after we crushed the shite 2-1 in the FA Cup, I did a very stupid thing and got arrested for drunk and disorderly for singing "Everton are Magic" whilst pissing in a Chinese chippy doorway in Newton-le-Willows after being thrown down the stairs of the night-club there.

The stupid bit was there was a public loo across the road, next to the police station that the kopite rozzer came out of to nick me. We all did stupid things in the past.

Very funny, but who would have thunk that Newton-Le-Willows had a nightclub.

It doesn't have a nightclub... that's how drunk Mark was!

In other words, they've done a Beto on Moshiri.

If he was a poor kid from Harlem struggling to survive, we could have a degree of sympathy and understanding, but a rich kid from a staunch religious upbringing, who didn't need the money, and understood the rights and wrongs is different.

I expect the reason he didn't end up another Pablo Escobar was because he got caught.

Each place in the table is worth about £2.2million and then clubs will receive further payments through add-ons. A large sum of the add-ons comes from receiving a share of the broadcast pot which is consistently growing year upon year. The money in the Premier League is unlike any other domestic league in Europe.

Enough to make a new owner give only £500m?

Our mate Nige used to drive us in his Hillman Avenger and that night we'd got tanked up in the Oak on the Lancs on the way back from the match, on to the Boundary Vaults near Bold Power station, then on to Gossips. It was the time of Ant Music and Spandau Ballet and Skol or Harp lager.

We were shite but Magic!

Judge - Right, bring them in.
Local Blue - Ouch !
Judge - Who threw that?
Mob - That RS did !!!
RS - No I didn't. Ouch.
Judge - Who threw that ?
Mob - That other RS did.
Other RS - Ouch, ouch, ouch.
Judge - Stop it. Blows whistle. STOP !!! Are there any RS here today?
RS in Mob - No! We never walk al. Ouch Ouch Ouch.
Judge - Well done lads that's the end of them. Now where were we?
Puppet - Can we get this over with? I've got a hot date on a yacht next to BMD, with a great group of yankees. Should be some good craic too.
Judge - You are both hereby condemned for - oh I can't be bothered reading this bloody list. It's got more sins on it than a RS resume.
Local Blue - I'm innocent. I love EFC and all it stands for. Glory Glory and Money for me. You can't stone me. Ouch!! Ouch!!
Judge - Who threw them?
Mob - We did. He's a fucking liar!!
Judge - Right no one throws anything until I blow this whistle. Okay?
Mob - Okay.
Puppet - Jehovah, Jehovah, Jehovah, OUCH OUCH.
Local Blue - My fellow blues pleas OUCH OUCH OUCH.
Judge blows whistle - The End.

I want a fresh start, business only. "We are going to put this club where it needs to be" and not where it should be owing to its history, blah, blah.

Just get on with building a blue empire on the banks of the Mersey. BMD a fortress.

Everton chiefs worried about takeover 'disaster' after Thelwell submits three transfer plans to new owners

Reading Paul the Esk's anaylsis, taken from recent accounts, I would suggest around £300m is currently external debt, in the form of the bank, Rights and Media and the new MSP loan. Paul reckoned Moshiri's loans were in the region of £450m. I'm not sure, because the article was written before the MSP loan, whether their £100m injection was spent and in addition to Moshiri's loan, or used to pay down part of his loan. Either way, our total external debt (now including Moshiri who is arguably external as a result of the sale) is likely in the region of £650-750m. If we have not being paying interest, and it has been rolled over, that figure will be a little higher.

It seems we are still short of c £150m, maybe a bit more, to complete the stadium. Not factored in here is the money raised from the sale and development of Goodison but my impression is this will be very modest, far short for example of Arsenal's income from selling Highbury.

Hence, assuming the final sums needed to complete the stadium are in the form of loans, we will be in debt to anything up to £900m following stadium completion. Of course 777 might convert some loans to equity, but I'd say probably not. I assume they have offered very little for Moshiri's £300m worth of equity investment, which is on top of the above. That is my reading, it may be way out, but would welcome any other perspectives.

I'm very concerned that the potential new owners wouldn't give a fig if the club went bust, so long as they had the keys to the new stadium at Bramley-Moore Dock. They could hold events there 365 days a year and make a lot of money.

I know presently that the stadium is part of the club… but for how long are we likely to see that remain the case?

Depending on how much less, it might be in their interests if we are relegated. What's to stop them just spinning off the stadium and letting the team go into administration?

I think much of the negativity really stems from the fact that 777 Partners are not going to be big spenders like Mansour and Abramovich. So we're not going to regain our rightful place at the top table under them.

That doesn't make 777 Partners a bad fit for the club though. Although many fans will feel 777 Partners aren't worthy, we are where we are.

Unfortunately, I think the chance of us finding a sugar daddy are now zero. There are too many clubs who beat us to it and / or have an established commercial advantage.

The benefit of an outfit like 777 Partners is making sure the club doesn't go bust or get relegated (both of which are serious risks under Moshiri, who, apart from the stadium, has been a disaster) and then providing a platform for a competitive side in the top half of the table with a good sprinkling of exciting players.

Titles? No. Champions League? Probably not. Domestic cups? Possibly. Europa League runs? Probably.

I agree with you that the crime Wander was convicted of is a serious offence and that it should disqualify him from having any part of our club. In fact, it should disqualify him from entering this country.

There has been some amazing displays of moral flexibility in some of the posts here – 'It was only 3 grands worth of cocaine' (he was trying to import so he could traffic it to others); 'He was just a 20- year-old kid' (that's a fully grown adult).

This will not end well

“The perfect partner to take the club forward,” was Bill Kenwright's description of Moshiri when the initial investment was announced. Moshiri was the perfect partner for Kenwright, not Everton, allowing the chairman to remain in the role to this day when his first act should have been to clear out the underperforming board he inherited. Everton's decline predates Moshiri. It just accelerated under him.

On a more serious note, 777 has faced allegations of fraud and unpaid debts – which the company denies – and is the subject of active legal proceedings in the United States.

I don't know about a Ponzi but I read that to finance a training ground for Genoa costing £4.5 million, they have set up a Go fund me page.

Leicester are reported to have taken legal advice and they want to sue Everton for £100million.

I honestly cannot see anyone passing this lot as fit and proper to run a Premier League club.

If Moshiri fails with his bid to unload the club to a bunch of sheisters, he'll be back in Monaco quick time never to be seen again.

Of course Kenwright will still be poking around up here as Jenny likes the Chicken Chop Suey from the Wirral chippy and occasionally he treats her to a bag of prawn crackers.

Paul Joyce of The Times reports: "It is understood that the Miami-based company would pay a set amount for the club, but there are factors by which that figure can rise and fall depending on Everton's on- and off-field progress.

"Moshiri, who has agreed for the payments to be staggered over a number of years to help Everton's financial position, would stand to earn more should the club move into their new stadium at Bramley-Moore Dock and commercial performance improve."

So much for Moshiri doing the club a favour by deferring some of the payments, he's looking after himself and his friendly banker. Will Everton run out to the Miami Vice theme in future?

I must admit the more I see and read, I'm beginning to believe that William Kenwright is the victim here and it was him being strung along by the Arsenal-loving owner and his mate, they only ever wanted the stadium, and the fact they are in the process of selling to loan sharks and smooth operators, rather than a bona-fide sports loving group, shows how little they both cared for the club.

Barry, are you being serious here or is it a wind-up?

Moshiri's statement says, as a result of this agreement (with 777) we have secured the complete financing for the new stadium. So it looks like it's theirs if they can finance it.

I'm being very serious. It's okay for us as supporters to blame everything on Bill; however, he isn't the brightest bulb in the world, and Moshiri could quite easily baffle him with accounting procedures and other financial wizardry.

I'm not saying that Bill should remain blameless, as it is he who introduced his hand-picked billionaire, but the main villain in the financial ruination of the club is the one who isn't a thespian.

Bill should have walked away when things started to go awry on and off the pitch or when his voice was no longer being listened to. He didn't, possibly because the carrot of the stadium was always in view.

I've no time for Bill or his associates within the club; I've got no time for Moshiri either. One of them is a self-deluded fool, the other is a far more dangerous character.

I hate to disagree with you but I see no scenario in which Bill is a victim. He made millions off the club selling to Moshiri.

If anyone was hoodwinked by financial shenanigans, it was the fans and Peter Johnson and Paul Gregg when Bill Kenwright forced his way into the boardroom, backed by payday loans from Green and other so forth. All the while being lauded is The Great Evertonian.

Clearly there will be no money with 777 Partners but hopefully they are competent enough to get the ground built. At this point, that's a win... A big win.

I think the picture then changes once it's built if we are still in the top league. 777 Partners may then look to turn us quite quickly and get out, having made a fast £100 million, who knows.

Let's just get the idiot out, the ground built, and then see where we are.

Kenwright was dealing with loan sharks long before he sold the club to Moshiri – that's why the club was in such a financial mess when he sold it. Moshiri cleared the debts up when he came in but here we are again with another load of debts.

Who started this second load of borrowing, and we are still paying £1.5M a year to lease Finch Farm for the next 20 or more seasons, which was definitely Kenwright's doing.

And Barry, he hasn't done too bad financially despite you saying he isn't the brightest bulb in the world.

Do we have only to show intent, or provide funds for transfers? I might be wrong but the staggered payments may mean that they will be buying the club using future profits to pay for it.

And I presume that they will assume responsibility for the new stadium and any other debts (another £400M approx on top of the stadium loans?) which may explain the reported £500M purchase price.

Oh for those long-gone times when we wouldn't know or care who actually 'owned' a club, and players would earn a decent living, without raising the prices of our shopping baskets; before their threats of strikes and refusing to play for their employers again, yet still collecting their tens of thousands of pounds a week, while those who save lives stand on picket lines, fighting a losing battle against inflation.

As a former player once said 'It's a funny old game'

This is a fire sale to stave off administration. I'd be very surprised if Moshiri is getting even £100M for that equity and likely nothing much upfront, if at all. Remember there is debt that is being taken on when you own this club, including outstanding loans owed to Moshiri which are worth much more than his equity stake.

For me, the really big issue is how 777 Partners handle that debt. Maybe converting some of the loans into equity in the stadium?

If, as is being reported, Moshiri is having to take a very big haircut on his c £750m investment to date, this is the one sure good thing in this episode. We would not be remotely sustainable if he were even to get his money back in full in this transaction. 777 are interested in this precisely because it is a fire sale of a distressed asset. This is what they claim to do, turn around failing businesses. They are not in the market to buy clubs like Man United or Arsenal.

Just nearly killing the club we love.

No exact date but largely due to the majority believing capitalism is essentially benign and everyone can have the same opportunities, which has led to a massive reduction in the oversight / regulation that is actually required for what most of us would regard as fairness.

Control has been ceded to those who are happy to exploit and dominate. Football is just another commercial opportunity that has sold its soul to the highest bidder.

Sport has, like you said, become a commercial corporate asset to be exploited – we may as well support Tesco or Ikea, or maybe Amazon, as they're very successful!

The answer is pretty simple: when the Premier League became a global success story, starting in the early '90s.

Before then, and even briefly during, you might have a benevolent owner like Jack Walker. There was an interesting article in The Telegraph today about him. He was maybe the last of the entrepreneurial self-made indigenous owners who took a smallish club to fame and glory.

You seem to lament this but in fact the Premier League is a major UK success story. It's a shame so many of our other industries have failed to mirror its success. Hence people are interested in investing in it because they see it has potential to grow and give a decent return on their investment – if you get it right, unlike our current owner. But it does need deeper pockets, along with better skills than Moshiri.

Everything has nuance and you might well lament the incredible, even absurd pay earned by those at the pinnacle of the game. But at least they earn it in the sense of it being their market worth, even if that sometimes means you have players like Gbamin and Gomes earning a fortune for doing very little.

The fault there lies with those managing. Whatever else, footballers do not create inflation in your supermarket food basket. They do however throw off massive amounts of tax which we urgently need to keep the show on the road. We could actually do with more of them, not less.

Perhaps you pine for earlier days but, in my humble opinion, give me the current position rather than the dark days of the '70s, and especially the '80s, when the game was in crisis.

"His biggest mistake was believing Kenwright."

He's still believing him. What's the saying "Fool me once shame on you, fool me twice..."

Mark Taylor, there is a difference between improving a situation and simply lurching to an opposite extreme, but then balance is a nuanced thing as well.

We are currently a good way off Brighton but things can change fairly quickly. We've been envying Leicester for a while now and obviously their luck ran out last season (bad management, bad team morale, and bad luck in recruitment). It'll happen to Brighton too at some point.

The most important thing is to accept that there is no short-term fix just because "we are Everton".

On a sort of related note, I watched Bayern Munich v Leverkusen last night and the latter played some absolutely outstanding stuff with some very talented players on the pitch. It was a 2-2 draw.

Leverkusen have a decent youth system, develop young foreign talent well, and don't pay more than about £20M for players. We've moved in that direction already under Thelwell and will continue it under 777 Partners, I expect. Hopefully we won't be looking up to Brighton for too long…

Footballers do not create inflation in your supermarket food basket

Don't you know where all these billions of pounds come from, for wages, agents, shareholders etc? It comes from our purchases.

Every sport is completely dominated by advertising, which is more lucrative than the drug trade, and just as vile. People who don't have any interest in sport are still donating to the offshore bank accounts of fraudulent owners and investors, and all the time, it's the consumer who has to pay…

Or did you think all these companies were allowed to have their corporate trademarks all over the shirts, grounds, interview boards, tracksuits and even competitions they sponsor, for nothing?

One thing is certain though: without Moshiri, we'd have no stadium at Bramley-Moore Dock.

Who that will eventually belong to, I haven't a clue. Does Mr Moshiri keep hold of it or do the Yanks come to own that as well? I suppose all we can do is support our team and club, like we always do.

I think with 777 Partners, they'll likely have more commercial nous than the sad history of our own attempts, though we've improved in the last few years..

We've also begun to bring in players who, though it's only been as loans or for deferred payments, as long as we don't get flayed in October, I think we'll start to move up the Premier League table. It depends on our good luck in staying clear of the normal numerous injury figures we've been having for years.

Because 777 Partners, as I'm reading it, won't get the stadium with the deal.

Like it or not, Premier League footballers probably pay collectively more tax in a season than every poster on this side will pay in their combined lifetimes.

You and I are posting on a website which, quite rightly, has adverts on it. So what is your point? You are a regular poster, so, like me, your indignation at the commercialisation of football has not made you walk away.

So if you really believe that advertising is as vile as the drug trade, then that must be your last post ever.

It won't be, because we have an emotional investment in EFC. That's why 777 Partners want to buy us, because we are customers who will pay for the product – no matter how shit it is. Not many investors get a market like that.

I also couldn't work out from Moshiri's statement exactly what was happening in respect of the new stadium at Bramley-Moore Dock. Moshiri's comment on the new stadium was open to interpretation, to say the least.

Perhaps, someone can point me in the right direction to find it?

Brendan, that's what's got me. As far as I can remember, Moshiri paid with his own money or what he had and MSP invested £100 or £150million in the stadium, to complete the costs.

Unless it's shown somewhere in the deal, the stadium was another entity than the rest of the EFC company.

So I'm right with you. Is it Moshiri and MSP running the stadium or is it 777 Partners and MSP, or is it belonging to Everton FC?

I only recall seeing that as a comment in the Auditor's Report within Everton's Annual Report and Accounts. I don't recall seeing any dates or timeframes referenced.

In the context, it appeared to be the auditor documenting something they had been told, presumably by Moshiri, in the context of the whole 'going concern' whoha – and more importantly 'in a relegation scenario'..

There are some snippets:

The Club remains in a secure financial position, thanks to the continued unwavering support and commitment of the Majority Shareholder.

They have provided a letter of support confirming ongoing financial supportv will be provided to the Group but this letter does not represent a legally binding commitment.

And yes, this last one does talk time:

The Club remains reliant on the support of its majority shareholder, who has provided a letter of support to the Board confirming the intention to provide ongoing financial support for a period of no less than 12 months from the date of approval of the financial statements but this does not represent a legally binding commitment by the majority shareholder.

As long as whoever comes in lets Thelwell and the manager re-invest the revenue they bring in on the transfer side, and the new executives make sure the club continues to run until the stadium is operational or cash-flow positive, I can see a bizarre scenario where it all gets better after a couple of years or so.

With more quality transfers in, like Beto, the squad will be much better again next summer. No-one will be surprised if the club sell players next summer. But if this summer is anything to go by, Thelwell might find a way to make the squad better again even if transfers in are from player sales.

Brighton and Brentford verses Chelsea and Steve Walsh who signed three Number 10s. It looks like a case to be made that good recruitment is more important for success than bizarrely the owner's wealth in the Premier League.

I've not checked, but I don't believe Brighton or Brentford came into the Premier League as one of the richest clubs. They've done well through selling and reinvesting. If only Moshiri worked out who was good at this a few years ago, then a lot of this mess would have been avoided.

Anyway, let's hope the new custodians of the club have studied the Moshiri era and have worked out what to do to improve things.

Thanks for the reply, of course you're right: it was part of the notes on the accounts. No wonder I couldn't find it… anything of importance in the accounts is usually well hidden in the margins. :)

As for footballers, agents, executives etc, don't you know that these people are set up by their accountants as businesses so as to pay as little tax as possible? They bypass all the laws that you (I think) and I have to abide by. Their £100,000 cars, £50,000 watches etc are all written off as expenses, so no, they don't pay as much tax as you claim.

As for your defence of a system that makes a teenager hundreds of times more wealthy than say a nurse, who after 40 years of saving lives, treating the most hideous injuries, wiping disabled people's arses etc, even though he hasn't done a day's work in his life, just kicked a ball around a pitch once or twice a week (something lots of us have paid to do), then it's your morals that are vile.

A lot of people getting lots of money for nothing, well to me, your tory principles don't belong here, not my dislike of them.

Well I've heard the lot now! 🤣🤣🤣🤣

What has that got to do with Everton or Andy's view as well as anyone else's?

I don't mix politics with football and certainly not with Everton. If you want to, try our very own Derek Hatton.

Socialist militant that ate from the top table looking down on those he claimed to represent.

If you live in the area, you'd understand.

We all want to believe that, given the wealth that is afforded to Man Utd, Man City and Liverpool, the team will become a more competitive outfit but, at the moment, we have to take one week at a time and hope the team can rise up the table with what they have.

The Gunners tomorrow and then Brentford next week presents a massive challenge that must be dealt with positively to get things moving and a point from each game wouldn't be the end of the World.

Your love of football is obviously paid from your income when you buy season tickets etc, but it does not inflate the cost of food in your supermarket basket. It might be more accurate to say that if you spend a lot on football, then you may be forced to spend less on food, but that is not about inflation, just about where you choose to spend your money.

To repeat, we need more successful industries and if we had 100,000 people paying as much tax as footballers, the rest of us would be able to pay less.

I think it is more than a little silly to equate advertising with the drugs trade. No advertising implies monopolies given they don't actually need to advertise because they have a captive audience, and we definitely don't want that, we have too many monopolies as it is.

I don't like anything about this deal, it definitely feels very shady to me. I hope I'm wrong.

I think we might be witnessing one of the biggest poker games ever. Unfortunately, it's our club and the new stadium that is sat on the table as part of the bet. No wonder we're sponsored by Stake.

No to asset-stripping 'vulture' capitalist syndicates, we've had enough of these. Our former industries bear witness to their ruthless slash-and-burn techniques, and a fine piece of real estate on the iconic banks of the Mersey would make quite a profit.

If it made the easy profit you seem to be suggesting is on offer, why would Moshiri walk away from it?

The sad truth is, we don't have any worthwhile assets to strip. We need to build value into our assets. I'm not sure that 777 will achieve that because it will be difficult, but you surely can't have failed to notice, there has hardly been a long queue of buyers for us.

Well rumours abound that 'Rumours Abound' will be our new motto under 777 Partners — but that's just a rumour.

The only rumour I want to come true right now is the rumour that we'll get 3 points today.

They are in business for a big profit, and if Man Utd, only a decade ago the richest and best-supported club in the world, and most successful in the Premier League, can be put in such a position that the club are in huge debt (£970M), which threatens their safety, what chance has an ageing and not very successful club got of staving of the ravenous vultures? We could become a franchise to be moved around the country, as Wimbledon did, and US clubs do.

It may be all ifs and buts, yet the risk is too high. We don't want to become another FC Utd of Manchester.

It depends. To this point, Moshiri, a UK citizen, hasn't been known to default on any bills. 777 Partners, based overseas have – and not just the basketball, there's another case where they fell behind on a much larger one.

So if you're MSP relying on an incompetent billionaire to continue his track record of paying on time, or some cokeheads under criminal investigation who also don't pay their bills, who would you go for? I wouldn't lend them five quid personally.

This feels like it's another typical Everton fuck up.

When Moshiri came in, he thought he had 1, 2, 3 on the bike, turns out it was a Chinese run; won too ten and now he's on his bike, having gone in blind with this new mob.

That looks the next stage in the ownership and financing of football clubs.

777 Partners invest in a wide range of sectors including: financial services, insurance, consumer retail and technology. They take a hands-on approach to investing and often play an active role in the strategic decision-making and operational execution of their portfolio companies.

The team consists of experienced industry professionals who bring a combination of financial, operational and strategic expertise to their investments. By leveraging their network of resources and industry knowledge they aim to create long-term value for their portfolio companies and generate an attractive return for their investors.

I've long since given up Sky incidentally. We shall see what happens because we certainly cannot change what Moshiri decides to do. Just keep on praying!

Thanks for your reply. I can see you are concerned, as am I, by this takeover but I'm not sure it's for the same reasons. Certainly I don't see us as an easy profit target because, as I say, we would have a queue of suitors if that were true.

You say that we have valuable assets in the form of land at 3 sites. I don't think that is accurate. I assume you include Finch Farm, but I believe that is owned by the council, not us.

Nor do I believe we own the land at Bramley Dock. Again I think that is the council who have provided us with a 200-year lease. The fact that the land itself is not valuable is reflected by the fact that this is at 'a peppercorn rent', referred to in news stories at the time covering the stadium build.

That leaves us with Goodison, which we do own. I have tried to find evidence of its development value to the club, without success. But it seems worryingly small in the context of the new stadium costs.

I've seen reference to an £84m development but that includes the build cost. The land value will be a fraction of that and I'm not convinced it is mortgage-free.

The stadium will of course have value but it will also be accompanied by £750m worth of loans which will need servicing and even the most optimistic valuation of the net proceeds from selling Goodison will barely make a dent in that.

Hence I think you are massively overstating the intrinsic value of the club. The only real assets we have are a few players.

This is not to say I am relaxed about 777's acquisition. I don't know them and I believe they face a mountain to turn around what is a failing business. It is depressing that we have not, like Man Utd, attracted a wider range of suitors.

But by far my biggest fear is a transaction not happening and Everton going into administration. Believe me, I think that is a genuine possibility.

Moshiri thinking after losing millions of his own money, maybe thanking "I can't even go and see my team play. So I'm outta here, ASAP."

I think it's time to make peace with our owner.

Firstly, I do live in the area, so your snidey "if" and "you'd understand" are as much shite as the stuff you wrote about Andy.

The reason I commented and used a quote from what you posted was because what you posted with regard to Andy is absolute and complete bollocks.

I know the man and you, through a distinct lack of sense, have slagged him off, probably because the Scouse chip on your shoulder (not all of us have em) is giving you jip!

You totally misunderstood what he was saying and then thought you'd play the working class hero.

This is ToffeeWeb, the clue's in the title.

The brutal truth is, Moshiri has run out of money. Or more likely, other people's money (Usmanov). Forget about P&S Rules, we are facing a cashflow crisis that would leave us unable to complete the stadium and/or lead to a fire sale of any worthwhile player assets and thus likely relegation.

Remember this guy was a jobbing accountant at Deloitte's. They make millions, not billions. That wealth was 'gifted' to him by Usmanov and I suggest comes with strings attached.

We would be better making our peace with Usmanov if we wish to avoid new owners. But that is neither likely nor in my view desirable.

I think post 296 blows mine right out of the water! ;-)

They are regarded as vultures and asset strippers who prey on businesses in serious cash flow trouble – like us! In the world of business, everyone does it, including us, but this is our football club which is steeped in history for us – they don't give a fuck about that no matter what they say.

They have a total income of around £80M per year, so how the fuck they are going to run us is very questionable. I wonder where we would be if the Ukraine War hadn't have happened!

When Moshiri first came, we all assumed it would be 'Manna from Heaven' not an insight into 'Hell's Kitchen', remembering too that Moshiri was personally tracked down by Kenwright, who Sold him the Club at the same time securing his position as almost an irremovable Chairman.

That is why Sheikh Mansour walked away by the way, (he spotted a charlatan from the off) and 'the then' proposed plans to make us like Man City are now, were jeopardised. Now for any doubters out there that still believe 'Kenwright the Maggot' did this in the interests of Everton Football Club, give your heads a very long wobble.

We the fans, have NOT benefitted one iota from Moshiri's tenure and have seen a small fortune profligated before our very eyes, while Mr Everton has lined his pockets, kept the keys to Cupboard with The train Set in it too. I sincerely hope the new take-over get shut of him a.s.a.p. without any Compensation (for what ?) whatsoever, while we try to get back to normal after years of misery !