If there’s been one constant in Farhad Moshiri’s chaotic, ruinous tenure at Everton since February 2016, it is that parties who have pursued an interest in Everton have inevitably and ultimately put their own needs before those of the club they own, have lent to or indeed serve.

The incredible power vacuum that has existed, from the major shareholder, to the boardroom and the hapless executive teams, including those in charge of football operations, has become a case study of how financial resources alone cannot achieve success; a case study of how, in the absence of leadership, a common cause, other interested parties are allowed to act as parasites, to the extent that eventually they kill their generous host.  So it is at Everton.

A lesser form of this behaviour was witnessed in the decades before Moshiri’s arrival. However, there were never enough resources on offer to attract sufficient parasites to destroy the club. Instead, a form of lower-level, not hugely competitive, symbiosis was established, which partially enriched a small number but kept the host, Everton, stumbling along, missing the bigger opportunities on offer, but achieving just about enough to maintain an (unsatisfactory) position at the high table.


In contrast, Everton’s former peers and the nouveaux riches, fuelled by oil and state-generated money, brought glamour, purpose, leadership, a disrespect for the former old boys’ club of football and a cynicism which has resulted in the game we have today: a game largely disliked by many of its followers, yet seemingly more popular than ever before – the Scudamore paradox?

Article continues below video content

In all successful entities, be it in commerce, research, academia or professional sport, there is usually a defining mantra that runs through the organisation  from top to bottom. Within that is of course, the desire for personal development, but ultimately the common cause is the driver for a collective success. The unity, the single purpose, vision and leadership, the single goal and strategy to succeed, to be the best, to break new ground, to defeat the greatest of competition is what brings the ultimate prize to such organisations. 

Everton, specifically

To turn to the specifics regarding Everton. It’s almost impossible to believe that a six-nil drubbing at Chelsea, a performance so bereft of character, purpose, objective – let alone fight, determination and guts – is not at the top of every Evertonians list of concerns about our beloved club. Yet, frankly that is the case.

The news from yesterday, in a sense the anti-news (ie, news of no progress at all) that 777 Partners and their various advocates seem to specialise in – the art of kicking the battered can down an increasingly rough road bears witness to Everton’s position and that of the disconnected, absent, obtuse owner, Farhad Moshiri.

Everton, are no longer a single united entity. They are a loose pack of possible allies, if I am being generous; more realistically, a group forced into a marriage of convenience, none liking or trusting the other, but none with the means or desire to end the charade, the sham marriage that their relationships have become.

The role of creditors, backers

Wearing a creditors hat, I could easily persuade myself, Evertonians and the football world more generally, that I or my organisation is a positive contributor, a backer, an enabler for Moshiri and Everton to build a stadium, stay in the Premier League, and perhaps return to former glories. That would be so if, alongside the cash, there was a unity of purpose, an alignment of interests. But there isn’t.

The creditors are like Big Pharma – provide something that keeps the patient alive but not well enough that they cannot stop buying the medication that Big Pharma so expensively sells to them (or their health provider). So it is with Everton’s debt providers.

I posted on X that, since August 2011, despite the £750 million provided by Moshiri since 2016, there’s only been a narrow window of 27 months when Everton haven’t had to rely on the financial support of sub-prime, private, back-street lenders.

The only “respectable” institution to offer financial support in that time was Santander at reasonable rates. ICBC had their own, politically motivated objectives of moving into football, scuppered by a change in policy from the Chinese President, Xi Jinping.

However, today, that policy, the policy adopted by choice by Moshiri despite the high running costs of such debt, can only be seen for what it is – there’s no strategic intent to help Everton, no desire to work with other parties, just a maintenance of their investment return and, at worst, the return of their capital in a default position.

Rights & Media Funding will attempt to manage their exposure to Everton (certainly not increase beyond current levels) whilst receiving a 5% return above the UK bank rate. A  loan that has grown facility but been in place now since September 2019.

Similarly MSP Sports Capital. A year ago, MSP Sports Capital saw an opportunity in Everton – an opportunity to raise money from investors (limited partners), lend capital for the continued stadium build, secured against the stadium but with the option to convert and become a significant minority investor.

As a default position, ultimately they had, and still have the option to acquire control of Everton Football Club. The funding met an immediate and pressing need – Everton were significantly behind the repayment schedule agreed with Laing O’Rourke. It attracted two prominent and respected businessmen in Andy Bell and George Downing. Both would probably have taken board positions had MSP’s loan been converted into a 25% equity stake.

However, that proved not to be the case and MSP’s loan continued albeit with a mid-April deadline for repayment. The loan is secured by (i) the entirety of Everton Stadium Development Company and (ii) the option to take 50% plus 1 share of Everton’s issued shares. That deadline has passed and it appears that Blythe Capital (the security agents) have not yet exercised their option. The option continues to exist – it has not expired.

It has to be recognised that MSP Sports Capital have to maintain the interest of their clients, first and foremost – the people who invest and trust MSP to generate investment returns on their behalf. MSP Sports Capital’s interest in Everton per se, is entirely secondary and will always be over-ridden by the interests of their clients. Similarly Bell and Downing, lifelong Evertonians, and as they would see it, benefactors to the club by virtue of their financial support, they have to maintain the interests of themselves, their families and beneficiaries.

Non-alignment and 777 Partners particularly

The problem arises when the interests of the club and the interests of the backers do not strictly align. A situation which is developing further as Moshiri desperately seeks to accommodate 777 Partners in their objective of acquiring Everton.

777 Partners have had seven months to meet Moshiri’s requirements, the Premier League’s conditions, and the interests of Everton’s creditors. Yesterday represented the first “hard” deadline, something which 777 have managed to overcome without meeting their obligations.

777 Partners inability to meet the conditions, their requirement for extensions has one principal cause. They don’t have the resources to meet the conditions. That is abundantly clear now, even to their biggest advocates. No one asks for more time if they have the resources required available to them. That is a huge red flag, the biggest red flag of many presented by 777 Partners.

As I have stated on many occasions, delay causes Everton’s position to deteriorate.

Time is not on 777’s side either. The macro-environment for private equity firms using reinsurer’s balance sheets as funding vehicles is changing rapidly. As outlined in the Washington Post, the potential mis-alignment of private equity investment strategies with the needs of insurance companies is a problem which has come to the public and investors' attention as a result of the public nature and investigatory work surrounding 777’s pursuit of Everton Football Club.

777 Partners – A small player in a bigger evolving picture

Just as it took a small bank in the UK (Northern Rock) to highlight the issues facing the banking industry before the financial crash of 2008, so it might be that inadvertently 777 Partners highlight future problems in the insurance industry.

If so, the hugely powerful (in political as well as economic terms) lobby of the private equity industry will seek to smooth out the problem at minimal risk to themselves, but perhaps to present 777 as a rogue case – the over-reliance on 777 Re’s balance sheet (and other reinsurers also) in funding 777 Partners' activities being unrepresentative of their industry.

We have already seen in the case of Kenneth King and A-CAP, how swiftly insurers can appear to move to protect their own (and their policyholder) interests in divesting. A problem for the industry as a whole but specifically for 777 Partners.

A problem for 777 Partners – the problem being reduced access to capital  (reduced access to lending) is a problem for Everton, given the cost attached to them becoming owners.

The extension required by 777 Partneres is a tacit admission of their inability to deliver, 7 months after agreeing with Moshiri.

Our interest as Evertonians

Our interest as Evertonians should be our new owners' ability to fund and manage the club going forwards. Not only is 777 Partners' ability to fund, now beyond anyone (bar Moshiri’s) doubt but, as documented here, in the Financial Times, New York Times, London Times, Washington Post, the Athletic and particularly Josimar among many others, their ability to manage businesses across many sectors is also highly questionable.

Buying distressed assets is an established investment strategy. Running those businesses badly thereafter less so. In the vast majority of cases, ownership by 777 Partners is characterised by poor performance, operating losses, cash flow problems and (bar related parties) an inability to raise investment and working capital.

This is why, in my opinion, 777 Partners remain totally unsuitable potential purchasers of Everton. The evidence is clear and irrefutable. The prospects for 777 Partners, in my opinion, worsen going forwards, they do not improve. That is not an environment in which Everton should be placed.

So what happens next?

I have suggested administration is a possibility for some time. Perversely, as we come close to the season end, the risk reduces in certain respects. There is an argument that, in pure survival terms, paying the bills until the end of May sees us through this season and avoids the prospect of an immediate 9-point penalty.

It gets us to the summer transfer window and allows for the disposal of Everton’s major players. Players that would generate cash and profits, thereby meeting the immediate cash flow concerns and also helping reduce the inevitable PSR issues that Everton will face once more.

However, a fire sale of playing assets does nothing for Everton’s perilous competitive position, nor does it solve the long-term capital restructuring desperately needed, nor does it provide the additional capital for completion of the new stadium at Bramley-Moore Dock.

It would hollow out even further the depleted reserves of Everton Football Club. We are a quarry quarrying its last stones, a coal mine with no further seams of coal.

And all of this assumes, retention of our Premier League place! The consequences of relegation shift the nightmare into even greater areas of pain and suffering. All of the above managed by the custodial expertise and track record of 777 Partners. Please no.

The strategy is clearly just to limp across the line. Complete the season, stay out of administration, remain in the Premier League and see where we go from there. That is the extent of our ambition and for our future, under Moshiri, his choice of potential owner, and our other backers and creditors.

Need for true leadership

The need for true leadership, the need for a survival strategy beyond the grim, immediate future described above. is immense, essential and existential.

Do 777 Partners provide the solution? No – their presence and our continued tolerance of them exacerbates our problems. 

Can Moshiri? – not on the evidence of the last 8 years. 

MSP Capital? – seemingly less likely. 

Other investors, including those who have had an interest , even recently? Possibly – but their game now is to wait for the carcass to appear – the carcass of Everton Football Club created by those not skilled enough to keep us alive, or not interested enough to allow us to flourish.

Everton’s performance on the pitch at Chelsea, the personification of what we have become off the pitch.

Desperate? Yes.  Recoverable?  Still possible.

It is, for the avoidance of doubt, a really tough ask, and there’s a case for saying it isn’t possible. But the only survival chance going forwards requires new management, new players (in every sense) on and off the pitch. It’s required immediately, kicking the can is no longer an option, there can be no more prevarication – no more putting narrow self-interests ahead of the club, if we want Everton to survive.

Reader Comments (56)

Note: the following content is not moderated or vetted by the site owners at the time of submission. Comments are the responsibility of the poster. Disclaimer ()

Bill Hawker
1 Posted 16/04/2024 at 19:36:57

Again I appreciate your digging deep and doing the work that no respectable journalist has chosen to undertake.

That is some dire reading and I just don't see a way out here. I'm normally optimistic in life but where Everton are concerned, there is no light at the end of the tunnel.

Unfathomable for a club with a storied history such as Everton's and yet here we are.

Ed Prytherch
2 Posted 16/04/2024 at 20:03:47
I don't believe that 777 can have any role in a successful recovery of EFC but Moshiri has hitched his wagon to them. That is a mystery to me.
Dennis Stevens
3 Posted 16/04/2024 at 20:09:56
Limp across the line, hoping for top flight survival & then risk administration & the 9 point hit next season? Is it possible that's the only semblance of a plan?
Brent Stephens
4 Posted 16/04/2024 at 20:13:35
777 seem to be an organisation to steer well clear of; the League will probably steer them away from us in any case. But, whereas MSP seemed to be a more positive alternative, I note Paul's view that their involvement now seems less possible.

If MSP don't come on board, this just goes from bad to worse. Limping across the line, as Paul says, appears to be our only hope:

"The strategy is clearly just to limp across the line. Complete the season, stay out of administration, remain in the Premier League and see where we go from there. That is the extent of our ambition and for our future, under Moshiri, his choice of potential owner, and our other backers and creditors".

Tony Abrahams
5 Posted 16/04/2024 at 21:15:30
Thanks for taking the time to write it all down in black & white, Paul. No wonder those Americans, who were allegedly waiting for the green light, were absolutely flabbergasted when Usmanov, chose to go with 777.

It also sounds like Philip Green, is still making money out of Everton, and I think it’s time for the premier league to step in, like they did when Liverpool football club, were getting mismanaged to oblivion, by Hicks & Gillette.

This can only happen if there are other genuine interested parties, but maybe I’m wrong, and the league are absolutely powerless, or maybe they are involved in this very slow game of chess?

Neil Lawson
6 Posted 16/04/2024 at 21:34:21
Paul. What a thoroughly enlightening and informative article. Thank you. Depressing reading but I have a much greater understanding of our perilous position. Events on and off the field appear to mirror each other.
Derek Thomas
7 Posted 16/04/2024 at 22:42:07
Well summed up, Paul.

"The strategy is clearly just to limp across the line. Complete the season, stay out of administration, remain in the Premier League and see where we go from there."


"No more putting narrow self-interests ahead of the Club,"

We'll need a large slice of luck get those goals accomplished.

John Raftery
8 Posted 16/04/2024 at 22:50:23
After last night's debacle some fans are of the view it would be better to enter administration now, take the 9-point deduction and the consequent relegation before regrouping next season in the Championship.

One obvious problem with that is the forced sales of players will leave us with a squad unable to compete in the second tier. That's aside from the issue of the finance required to pay for the rest of the stadium build.

Moreover the sale of players when an increasing number of clubs will be fearful of breaching their own PSR limits will be less straightforward than hitherto.

Limping on in the hope something turns up is draining the spirit of fans and everyone connected with the club. With each passing day our survival seems more in peril and the prospect of a rescue bid ever more remote.

Jack Convery
9 Posted 17/04/2024 at 00:11:31
Thanks, Paul, for spelling it out. We need to change our motto now. Next season it will read: '17th not beyond and not below' and that's if we stay up.

Relegation will make us another Sheffield Wednesday or Sunderland for a long time. The future's shite without decent owners and that seems a forlorn hope.

Mark Taylor
10 Posted 17/04/2024 at 00:34:56
This line about other potential investors:

'...their game now is to wait for the carcass to appear – the carcass of Everton Football Club'

That's where we are heading. I also expect legal cases to ensue. I said on here, about a year ago, we face a serious risk of entire disintegration and in my opinion, that is now coming to pass.

Steve Oshaugh
11 Posted 17/04/2024 at 02:22:46
I am less concerned about the loss to Chelsea. Any passing look at Chelsea shows that they have clearly turned a corner and someone was going to cop it... they might well finish above Man Utd and Newcastle Utd.

Off the field, we are rooted... on it, we would have been safe already except for events out of the manager's and players' hands. Not excusing the terrible form since Christmas but any analysis that doesn't take into account the impact of a double points deduction should be ignored in my view.

We can't afford to get relegated (I don't think we will) but it doesn't look like we are going to exit this current farce before we hit rock bottom. Lord knows where that is.

I'll still be following, no matter what, but I am increasingly of the view that being in the EFL is far preferable to life in the Premier League from a playing perspective. The new stadium would still be full most weeks.

Ralph Basnett
12 Posted 17/04/2024 at 06:15:13
Tony 7, I don't think the Premier League stepped in when Liverpool were in the poo.

Barclays was the body behind Gillet and Hicks being forced to sell by calling in their loans but I do understand what you are saying.

Unfortunately, we have slated the Premier League enough that they are probably happy for 777 Partners to totally sink us once their rules have been adhered to so that the Orem look squeaky clean.

Tony Abrahams
13 Posted 17/04/2024 at 08:13:50
Thanks for refreshing my memory, Ralph. I knew something happened and you have made me remember how Liverpool fans from all across the globe were putting pressure on Barclays.

Maybe we could put pressure on the Premier League who are disgracefully (imo) letting Everton run with 777 Partners even though it's apparent that they are another group who are not worthy of our club, even in our current position.

Who stopped MSP putting a couple of genuine Evertonians, on the board? Was it R&MF and one of its shady members looking after Bill Kenwright?

Why did Moshiri go with 777 Partners when there was a much better option for Everton Football Club on the table? (Maybe it wasn't for Usmanov?)

Did Bill Kenwright cry 'Wolf' and threaten to expose the whole rotten circus because he would have been asked to leave? Far-fetched? Maybe, but truth has always been stranger than fiction and the one thing that is very clear about Everton is that it's become a very strange place and doesn't even appear to be getting governed right now.

Ian Pilkington
14 Posted 17/04/2024 at 08:29:26
Thank you once again, Paul, for a most enlightening article.
Christopher Timmins
15 Posted 17/04/2024 at 09:16:19
Not many positives out there at present. Points deductions may be the least of our problems.

Depressing stuff

Tony Waring
16 Posted 17/04/2024 at 09:56:10
Terrific article and one which all Evertonians should read and digest – even though the ins and outs, twists and turns would be better appreciated by the fraud squad!

We can only hope that something – anything – turns up but, in the interim, the players must go out for every remaining match and give 110%. We could also pray for a white knight although they are rather rare these days but you never know and we should never give up.

As others have already said, the game of football has changed beyond recognition and for that I put the blame fair and square on the money men, which is why I cancelled my subscription to Sky some years ago.

Jerome Shields
17 Posted 17/04/2024 at 11:36:14
Thanks, Paul, your article makes sense.

I have come to the conclusion that 777 Partners effectively control the Club, though have failed to meet the requirements of the Premier League. The extension proves that the Premier League are powerless in such circumstances. Moshiri was never nothing more than a figurehead and still is.

I expect 777 Partners to secure funding to fulfil the Premier League conditions. Everton to survive in the Premier League by default (I pray) and the continuing saga with 777 Partners to play out to its conclusion, which ironically their involvement with Everton has exposed.

On the 'Revolution in Bermuda' thread, I posted my experience on an Investment Seminar in 2010, speaking to a Swiss Financier who was a friend of Mark Shipman, the professional investor presenting. (Mark started the first hedge fund in Europe, a West Ham Supporter).

The Swiss Financier told me that the derivatives problem in the banking industry, which caused the 2007 crash, was also in the pensions industry, but restrictions on disclosure meant it wasn't exposed. Being offshore would make this even more difficult.

777 Partners appear to be funded by proceeds derived from derivatives, which has dried up since their Bermuda based reinsurance arm has been given a 'C' rating. The reason I say that 777 Partners will raise the funding requirements regarding Everton is that it takes in my experience 2 years for this to process through the system before regulators act. Regulation is always too late.

I am actually acting in my personnel finances on this type of scenario myself, with a 2028 deadline.

The last thing I expected was my beloved Everton to be involved in this shitshow. I will continue to support them wherever they end up, still standing at the other end.

Pat Kelly
18 Posted 17/04/2024 at 11:56:47
I don't see how we can remain in the Premier League much longer. Even if we somehow survive this season, these are some of the issues we have to deal with:

We will lose our best players and assets, probably by the end of June;

We will have no funds to replace them, we owe the money we will receive and can't spend due to PSR;

We have still to pay (£19M?) for Beto, who is worthless;

We have a so-called striker who doesn't score, a few pensioners (Young, Coleman, Gueye) who need putting out to grass, loanees who haven't cut the mustard (Harrison, Danjuma), a selection of deadbeats (Keane, McNeil, Godfrey…);

We need funds to get shot of Dyche and attract a new manager:

We are possibly facing more points deductions;

We have enormous debts to service and eventually repay;

We have a new ground to find funds to finish.

Administration and relegation offer potential salvation in the long term.

Laurie Hartley
19 Posted 17/04/2024 at 12:06:17
Jerome # 17, “ I am actually acting in my personnel finances on this type of scenario myself,”. I worked with and was very friendly with a Chinese CFO before I retired. I have never forgotten something he once said to me:-

“Laurie, cash is not king – cash is the Chinese Emperor”.

"Why is that, George?" (his western moniker), I asked?

He replied: “There a many kings but only one Chinese Emperor”.

Rich or poor, this is a true saying – especially in today's world. Here is another one I learned at school: “A bird in the hand is worth two in the bush.”😉

Come to think of it, if George had been Everton's CFO instead of Ryazantsev and Ingles, we and our owner would probably much happier than we currently are!

My effort at a bit of light relief from the doom and gloom.

Dave Abrahams
20 Posted 17/04/2024 at 12:51:12
Laurie (19),

Here's another one: when Dyche was asked about having a good squad of players, he replied:

“What you've never had, you'll never miss.”

Jerome Shields
21 Posted 17/04/2024 at 13:23:09
Laurie #19

Yes it is. It would be a nightmare getting caught up with the likes that run Everton. Even with cash now, I do two test runs with over £500 payments, checking it is received.

I think an example is Arnold Weinstock of GEC, who built huge cash reserves. Two idiots ousted him as Chairman promising faster growth. They nearly bust the Company. The shares dropped from £12.50 to 4p. Weinstock, a major shareholder, held on to his shares in his family's company, losing billions.

Barry Rathbone
22 Posted 17/04/2024 at 13:44:52
All good news in my opinion.

The deeper the abyss the more interesting we become to the next sheikh looking for a gold plated opportunity at cheap money.

This ponzi scheme of a club needs demolition – the idea of a moderate financial player putting in shiny suited executives to improve shirt sales and sponsorship is neither here nor there.

The club needs billions not to spend but to waste. Transfers are hit and miss and our problem has been two fold – we buy in Cheap Street and every acquisition is expected to transform us; the margin for error is zero.

Bring it on – this cadaver of a club needs burying.

Martin Farrington
23 Posted 17/04/2024 at 19:27:19
I just don't see anyway out of our current death sentence.
Moshiri without the Russian and his money is a lame duck both figuratively and in reality. The man is clueless.
I don't believe that the world has no suitors suitable for Everton. That means there must be some secret caveat (that requires repaying Putins mate) for any purchasing party or some serious consequences to be had for those who fail.
777 have failed openly to the premier leagues objectives to pass its test. The most recent being this loan.
If we go under. And its becoming ever more likely, then are bought back from the trustee, with a debt restructuring scheme to resurrect us, due to FFP / PSR rules now in place it would be virtually impossible for any serious money to come in.
As such we could never compete. The only way would be producing supreme talent via the academy to sell on, recruiting incredible gems, . Both of which we suck at. Even when we get great players in we cant spot them ie Haaland twice.
The world of football where we once the greatest, at Everton, has been stolen from us for ever.
Paul Birmingham
24 Posted 17/04/2024 at 19:55:59
No wonder, Arsenal didn't fight to keep him.

Between him and the decease ex Chairman, they've sent Everton to Hell.

To turn up at Stamford Bridge with 777...

Hopefully they won't be at Goodison on Sunday.


Jay Harris
25 Posted 17/04/2024 at 20:00:38
Every way we look the outlook is depressing but that to me means the only way is up.

Finishing the stadium gives us an asset worth at least 800 million at least to a football club.

Selling off some of the facilities like the bars or the restaurants (a la Chelsea) will generate much needed cash to finish it and get us off the psr issue.

Sell Pickford, Brandthwaite and Onana for circa 150 m and invest some of the proceeds into creating a workmanlike squad.

James Flynn
26 Posted 17/04/2024 at 20:01:33
Martin, any potential suitors are waiting to see if we stay up or go down.

777 asked for an extension until the end of May and MSP extended the loan period.

We'll see what's what after league position is resolved.

Laurie Hartley
27 Posted 17/04/2024 at 23:20:51
Dave # 20 - sharp as a tack you are.😉

Jerome # 21 - moral of your story - beware of spin doctors.

James # 26 - I think you are correct - it's a waiting game.

Eric Myles
28 Posted 18/04/2024 at 07:12:04
John #8 "One obvious problem with that is the forced sales of players will leave us with a squad unable to compete in the second tier."

But if we stay in the Premier League, we will still be forced to sell those same players. So, if we can't compete in the Championship without them, what chance have we got in the Premier League?

Eric Myles
29 Posted 18/04/2024 at 07:20:51
Pat #18, now tell us the bad news.
Martin Farrington
30 Posted 18/04/2024 at 11:21:00
James @ 26
The issue is that 777 failed to meet the loan repayment date. As such so did Moshiri. Which in effect means MSP technically own the club. If they want it, which clearly they don't.
777 have been given an extension to repay that debt. That is before the season ends.
If they do scrape together the money, they would be potless. Its like scraping together all you can to buy a mansion but having no capital to run it and all the staff required. Which begs the question are they just Kenwright in disguise.
If they fail to pay, which means someone owns the debt ie MSP, then that debt increases. Day by day. They then either call it in or let it run. Either way the season isn't over however Everton are yet again breaching ffp rules which as we know are rigged and we will be hit for the third or fourth time regarding the same breach. Its worse than owing a loan shark.
As far as I am aware there are no suitors in the wing. More like if there ever were they are in the wind.
I honestly believe that the legal financial situation of the club is probably clear and frightening.
The illegal ones, just frightening. Imo there is no way that russian is walking away without his money. well putins.
Tony Abrahams
31 Posted 18/04/2024 at 11:32:17
I remember one episode of Minder, when Arther Daley, decided to go straight, but by the end of the show he had already decided he was going back into the world he knew best, because he had met way too many villains in the straight world!

My worry now is that who’s going to be prepared to do something that Usmanov, doesn’t want? I don’t think many people would sleep easy, if they had looked after themselves at the expense of the big Uzbek?

The answer is indeed blowing in the wind, Martin!

Rob Hooton
32 Posted 18/04/2024 at 12:09:37
I'm minded to repeat one of my lovely step-mum's phrases.

Never mind when things look glum, you'll always know there's worse to come!

It's difficult to see a positive outcome.

Dave Abrahams
33 Posted 18/04/2024 at 12:18:53
Rob (32) Exactly Rob, it matches : As one door closes another gets slammed in your face.
Simon Jones
34 Posted 18/04/2024 at 12:30:06
The club is certainly in a difficult position which makes writing these types of article so much easier, but writing words such as,

"Everton, are no longer a single united entity. They are a loose pack of possible allies...a group forced into a marriage of convenience, none liking or trusting the other, but none with the means or desire to end the charade, the sham marriage that their relationships have become..." and presenting it as fact, is frankly dangerous.

Paul The Esk is an outsider, almost as much as any of us, yet presents some of what he says as inside facts. There are other, different opinions to his, but they are currently not given the same platform.

Kevin Molloy
35 Posted 18/04/2024 at 14:37:29
Tes, the game we are left with now. I think I would beg to differ about the game being more popular than ever. I think it's a giant con-trick, an illusion.

I don't think people are nearly as in love with the game as they were say 30 or 40 years ago. Why would they be, it's hideous.

Mike Price
36 Posted 18/04/2024 at 14:59:32
Jay#25 I doubt we could get anyone to pay a fee for Pickford, as well as picking up his multi year, 100k plus contract. We should have got rid 18 months ago and brought Butland for free on a fraction of the salary.
Carragher put the boot in on Onana just when I was thinking we could shift him for a good profit. Unfortunately, I think there’s a realisation that he’s limited and we may do well to get our money back!
Our only real asset as opposed to a squad full of liabilities, is Branthwaite, but people know we’re desperate which may deflate his fee. We should be marketing him as the next VVD and be aiming for 75 plus though.
Hope I’m wrong, but I think we’d do well to get close to a 100 million for all three.
Ed Prytherch
37 Posted 18/04/2024 at 15:30:48
We may have to persuade Pickford to leave for another club and take whatever we can get for him as we will not be able to afford his salary. Virginia played well in the few games that he got this season. He must be our starting keeper sooner or later.
Michael Kenrick
38 Posted 18/04/2024 at 15:38:39

I share your reaction to some of the questionable statements Paul Quinn makes in his articles, as you say, especially presenting opinion and interpretation as fact.

There are other, different opinions to his, but they are currently not given the same platform.

The only platforms I'm aware of, other than his own website, Twatter, and ToffeeWeb, are the execrable Goodison News and Everton News, who no doubt like that he posts plenty and often, giving them lots of fuel for their usual Everton-baiting shite.

As for the different opinions, let's see who they are. There is another guy who posts detailed financial stuff on Twatter but I can't stand the platform and don't spend any time there unless following a direct link.

We did put up something he posted a few months back not sure I can find it though.

If you come across these different opinions, please post details and we will look to see if we can make their material into articles on this platform.


Dave Abrahams
39 Posted 18/04/2024 at 15:43:45
Simon (34),

Yes, The Esk has me shaking my head in disbelief when he seems to be implying that Kenwright is less culpable than Moshiri for the complete mess we are in.

Kenwright was in full control of the club from when he bought it, without putting any money in, to when he sold it, but was left in charge of running it until he apparently passed away.

Ken Kneale
40 Posted 18/04/2024 at 15:54:42
Dave - in legal terms, the lookout guy or the guy holding the ladder is just as culpable as the guy who climbs up the ladder and breaks into the house.

I think on that basis, you as a jury member, can safely convict Kenwright.

Clive Rogers
41 Posted 18/04/2024 at 16:01:42
Ed, 37, I think that's a good shout.

We have probably had the best of Pickford, a good shot stopper but has his faults. He stays on his line too much and palms too many out into the danger area.

Virginia looked good and deserves his chance. Otherwise, he will be gone.

Dave Abrahams
42 Posted 18/04/2024 at 16:06:08
Ken (40),

I fully endorse that but I think, if it went to trial, Kenwright would get someone to interfere with the jury, that's if he still here.

Christopher Timmins
43 Posted 18/04/2024 at 16:35:04

The article on the BBC website gives the impression that the sale of our young central defender is a done deal in the summer.

Never forget that Kenwright spent years, 24 hours a days, 7 days a week, 52 weeks a year looking for the right owner to take us over.

Christine Foster
44 Posted 18/04/2024 at 16:42:19
One aspect that does not seem to even get a mention is motive. Exactly who and why does any suitor want to buy Everton given its state of affairs?

Additionally, why does the current owner appear to deliberately ignore the advances of other solutions in a sale or a full and final sale to a preferred entity, 777 Partners, when it clearly does not have liquid assets to do so, nor the ability to convince the Premier League of its ability to pass any due diligence test?

With several high loan providers, 777 Partners, MSP, R&MF, providing serious and continuing funding, there are players in the background with a playbook we know little of. To date, none of them appear to have shown their motivation for so much support.

None of this is making sense, we are sailing to a precipice whereby all of them could lose but nobody is blinking in this game of poker brinkmanship.

Moshiri appears to be a Pontius Pilate, washing his hands totally of anything other than his (or his friend's) desire to get a sale pushed through.

To date, apart from the initial public 777 pitch for the club, nothing or no-one has publicly surfaced as an alternative.

Bottom line questions still needs answering:

1. Was and is Moshiri just a front for Usmanov who wants his money back?

2. Why are 777 Partners the only player? Is there no given interest from elsewhere, or is it ignored?

3. Where is 777 Partners going to get funds from and who would sensibly back them going forward?

4. Is there a white knight waiting somewhere?

Nothing about this situation makes any sense. From Moshiri pulling the plug, to assuming no other suitors are interested, to just who still has their hands in the pot..just who is dictating the sale and why, because to me it's far from a simple case of Moshiri wanting to sell.

Puppetmasters, Mozarts with money, chancers are all at play, but like an iceberg, we see just see the upper 10%.

It's 3:45 am again and I wake up thinking a out Everton ... what the hell is wrong with me? I need a cup of tea.

Ken Kneale
45 Posted 18/04/2024 at 16:43:14
Dave - perhaps he could find a jury made up of 12 journalists.

Certainly it seemed he could find no end of friendly media types that ignored the clear and obvious destruction of our club under his tenure.

Joe McMahon
46 Posted 18/04/2024 at 16:46:09
Guys, I don't see many takers for Pickford. As already stated by others, his ludicrous contract plus his performances recently for Everton and the last England game.

As for the "England's No 1" argument, it's the same England manager that puts Foden on the bench. To those I think we would get any money for, Calvert-Lewin, no words on that one.

John Gall
47 Posted 18/04/2024 at 16:51:55
So, in summary, two things need to happen to ensure the club survives:-

1. Don't get relegated.
2. Rich, benevolent Evertonian financial backer rides to the rescue.

Time for Mr P McCartney to invest in another arts and culture based Liverpool institution? Come on, Paul. Judy Dench must have a few bob? Mark Carney? We could do with his business nous.

Mark Taylor
48 Posted 18/04/2024 at 16:59:02
Simon @34,

I would also be interested to hear what these other opinions are. I may not agree with all that Paul posts, but the relationship between the 3 main parties here, MSP, R&MF and 777 Partners is an enigma.

For example, R&MF must have had a decent reason to block MSP but green light 777 Partners, but I've no idea what it is. And why would a supposedly basket case entity like 777 go long with around £200m of very loosely secured investment?

Right now, I see us with the absolute millstone of a stadium which cannot, given its vastly higher build cost and poor interest rate environment, come even close to paying for itself, even anchored to a Premier League club. Relegation means it will be a white elephant.

The only viable way out of this would be all 4 creditors (add Moshiri & Usmanov to the above 3) to get around a table and accept the inevitable, that the club is non-viable without all taking a serious haircut with Moshiri & Usmanov enduring the worst hair loss. Otherwise, this will be done for them in short order.

I don't see any evidence that is happening though. Feels more like they are rabbits frozen in the headlights. I think the sense of being utterly rudderless is seeping into the team. They are poor but surely not as awful as they now seem. I imagine their agents are busy right now. It feels like watching a car crash in very slow motion.

Dave Abrahams
49 Posted 18/04/2024 at 17:09:38
Ken (45),

Yes, he certainly had many friends in the media but what amazes me is the number of Everton fans who could see no wrong in him. Even now, plenty think he was okay and even one of us.

Ed Prytherch
50 Posted 18/04/2024 at 17:49:59
If MSP had converted their loan into equity, they would have dropped down the pecking order for repayment in the event of administration.

Shareholders are generally last in line. So they are sitting and waiting.

Jerome Shields
51 Posted 18/04/2024 at 18:10:02
Christine #44,

The reinsurance arm of 777 Partners in Bermuda, which funded all its aquistions, could have anybody behind it and anybody's money could be involved. No-one will every find out who these parties are.

The motive of others are high returns via the interest on their loans. Moshiri is just a figurehead, always was and is. Any assets will probably be stripped. This is nothing new for Everton, Kenwright did the same.

Kenwright is no better than what we have now, but as Paul the Esk says, he was limited by the financial resources available. But we got a taste of what Kenwright would have been like with money when he got access to Moshiri's largesse.

David Currie
52 Posted 18/04/2024 at 18:15:26
Tony 31,

Warning: When watching shows like Minder and Only Fools and Horses, these programs may be offensive to some people!!!

Simon Jones
53 Posted 18/04/2024 at 18:57:20
Mark #48 the bulk of your post is fair comment and I agree with much of it. My main gripe with the OP is PtE started as a guy who did his best interpreting financial data related to Everton, but has now seemingly morphed that into filling articles with a great deal of his own opinion, but doesn't specifically say that, therefore it comes across (to me, at least) that much of what he writes is supposedly fact.

And Michael #38, yes Twitter/X/Twatter is a cesspool at times, but still seems to be a place where you can find fairly sensible Blues offering different opinions to PtE. @CitizenSuburbia @terry_smith are two that spring to mind. @SwissRamble does detailed analysis of all football clubs, although you now need to subscribe to his Substack.

My previous post was not intended to be a dig at TW. Perhaps some Blues out there with an understanding of sports business and finance may like to try and write an article that deals with some of the serious issues in a less opinionated way?

James Flynn
54 Posted 18/04/2024 at 19:22:16
MSP has no relationship with R&MF or 777 Partners.

They have a loan deal with Everton FC. That's it.

Ken Kneale
55 Posted 18/04/2024 at 21:14:49
I agree Dave - I have seen Danny comment on another thread that he was initially supportive but saw through him - I would put myself there too.

I lived in hope until Rooney, Birch, false promises and dodgy friends became irrefutable evidence he was in it for his own good, not the good of Everton FC. I then spent years in despair with his and Moyes's glass ceiling and hoped he would go with the Moshiri takeover.

What a fool Moshiri has been and the first one was keeping Kenwright. I am bemused now how anyone can support him after his throwing the fans under the bus.

Mark Taylor
56 Posted 18/04/2024 at 23:08:52
Simon 53

I'm not here to answer for Paul but I think it is implied that the content you refer to is speculation and opinion. The whole problem right now is we don't have any facts other than the backward looking financial stuff Paul does. The club has, to all intents and purposes, stopped communication at any meaningful level and I presume that is because there is a total power vacuum.

We as fans are in the dark and I guess we need to make like a mushroom.

Add Your Comments

In order to post a comment, you need to be logged in as a registered user of the site.

» Log in now

Or Sign up as a ToffeeWeb Member — it's free, takes just a few minutes and will allow you to post your comments on articles and Talking Points submissions across the site.

How to get rid of these ads and support TW

© ToffeeWeb