25/09/2023 71comments  |  Jump to last

Josh Wander, co-founder and managing partner of 777 Partners

The proposed purchase of Farhad Moshiri's 94.1% stake in Everton FC by 777 Partners is 'well underway', the Liverpool Echo have been told, but the regulatory approval process might not be concluded until December. 

The announcement from Moshiri and the club that a takeover agreement was in place with the Florida-based private equity firm came 10 days ago and, in the interim, managing partner Josh Wander and representatives from 777 have paid a visit to Everton’s headquarters in the Royal Liver Building and met with Kevin Thelwell and Sean Dyche for what the latter described as "very casual" discussions.

According to the Echo, they were also given access to what is known as the ‘data room’, where 777 and their lawyers were allowed to pore over the information they will need for their due diligence.

The Echo quote sports lawyer and author Daniel Geey, who has assisted on numerous takeovers in his career, from his book Done Deal:

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“Once a non-disclosure agreement is signed, the buyer will want to understand the true commercial position, and will ask for a lot of information [in the due diligence period].

“Information can include player and staff contracts; commercial contracts; bank loans; overdrafts and other debts; the company structure and ownership; property documents for the stadium, training ground and other land the club owns or leases; disputes with other companies; obligations to past players and staff, and current tax liabilities.

“This may be just the tip of the iceberg. In many cases, it is efficient to set up a data room that allows the clubs to upload all the requested documents to a secure location for the lawyers and accountants to review. There can sometimes be thousands of documents to review.

“Depending on the appetite of the buyer to investigate and understand every aspect of the club’s business, the review can be finalised quickly, in a matter of weeks (or less), or it may take a number of months...”

“Usually the selling club will liaise with the relevant league to explain that a takeover may be occurring. As the process and negotiations between buyer and seller continue, the Premier League will ask for a meeting with any potential owners together with information about their investment, a business plan, and guarantees about the sources of their funds. The Premier League may also employ investigative teams to carry out research into the prospective owners to ensure that they have ‘no skeletons in their closets’.

“After the share purchase agreement (SPA) has been finalised, along with a number of additional documents (mainly in relation to share transfers and company board resolutions), a completion date is agreed.

“Sometimes the SPA is signed and an agreement is reached to complete the deal within a short period of time. This will usually involve money being transferred to the sellers, share certificates being transferred to the buyers, and the buyer and seller agreeing to finalise the various remaining documents.”

Assuming the process proceeds to completion and 777 Partners pass all the regulatory and fiscal hurdles being placed in their path, it could take as long as 12 weeks (from early September) before the deal is confirmed.

777 have already provided the club with a reported loan of around £20m and it is understood they will continue to work with the club's other creditors, that include MSP Sports Capital and Rights & Media Funding, to ensure that operating costs are met, alleviating any need to cash in on high-value players such as Jordan Pickford, Amadou Onana or Jarrad Branthwaite during the January transfer window at least.

“It’s very casual at this stage," Dyche said of his interaction with the representatives from 777 Partners. "They made it clear to us who were in the meeting that the deal has got a long way to go to get to its finality.

“Most of it was very casual, to be honest — just a feel of what I’ve learned in my time here but on the football side of things, a feel of what I’ve learned here, the challenges ahead and stuff like that. But it was a very casual meeting.

“At this early stage, they were very honest and promoted the thought that it’s still not done and it’s going to take time to get the deal done in the sense of all the fit and proper tests and all that sort of stuff. 

“So, I think they were more getting a feel of what our thoughts were and what my thoughts were since coming into the club rather than giving us any directives on what they’re planning. It was more absorbing some of the feel of the club and getting a feel of it.”

“It was a broad brush sort of thing, it wasn’t the minutiae of it. There’s been lots going on in such a short space but they’re aware of some of that, they do their homework, they understand – not all of it – but they understand the feeling around the club and some of the challenges it has faced and faces.

“The idea is, I’m sure, by putting the wheels in motion, I think they’re intent on getting things done but there are all the regulatory issues and regulatory challenges and I don’t know all the details of that, I’m sure it does take a bit of time.

“I think fans will be looking at it with ‘which way is it going to swing, which way is it going to turn, are they going to get the deal done and take it on?’ and the noise that would create, hopefully very positive noise but we’ll have to wait and see. At this stage, it creates a hullabaloo over kind of nothing at times.

“At the end of the day, it’s a business transaction but, as we know in football, these business transactions go into the public domain very quickly.”


Reader Comments (71)

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Mark Taylor
1 Posted 25/09/2023 at 15:52:20
How can a sale have been agreed if they are only considering some of these financial details now? That doesn't make sense, you couldn't figure out a buy price without the info in para 5.

I can only assume this is just verifying information that has already been provided. Yet this article just refers only to an NDA which usually precedes an offer.

Certainly Moshiri, if not 777 Partners, were speaking at the time as though a deal had been concluded with an offer accepted. This sounds like more than due diligence taken at face value. Perhaps it's an opportunity to re-negotiate terms as sometimes happens with a house purchase?

Jerome Shields
2 Posted 25/09/2023 at 16:22:42
Yes, Matt, it sounds like a work in progress rather than a finalised agreement.
Danny O’Neill
3 Posted 25/09/2023 at 16:56:18
I find it telling that the only comments we have had seem to come from the manager.

Nothing from the club. Maybe they are under an NDA, but the prolonged silence from those is deafening. And they've ignored for ages now, so we keep going on our own.

I am still buzzing after Saturday and looking to Villa and Luton.

The rest can wait.

Michael Kenrick
4 Posted 25/09/2023 at 17:04:52

I think paragraph 5 is a direct quote from his book, so it's applying to the process as a whole. I think only those on the inside will know exactly where in the process they are – exactly how much of the due diligence is done and how much remains to be done.

Obviously there was enough understanding of the finances for there to be an announcement of the proposed takeover. Note that the terms, the cost of the deal, the value placed on Moshiri's shares, have not been divulged, while other sources have suggested that the terms, cost and value may be performance-based, and therefore not fixed.

I think everyone needs to take a step back and let the process play out, rather than forever second-guessing it, like we seem to have had every day since it was announced – with Paul the Esk notably predicting it is doomed to fail.

Let's just see what happens.

Anthony Hawkins
5 Posted 25/09/2023 at 17:05:49
The information in this report suggests the takeover is still in the due-diligence phase and not 'well progressed'. 777 Partners could still decide they don't like what they see and pull out. It's not at the buying phase yet as contracts and share swap isn't there.

This just means 777 Partners are a loan agent to the tune of £20M and have an excuse to digest the behind-the-scenes numbers and wider contracts within the club.

Rob Halligan
6 Posted 25/09/2023 at 17:09:22
Danny, that silence has been deafening for touching 9 months now. Can you believe that?
Mark Taylor
7 Posted 25/09/2023 at 17:20:42
Sorry, Michael, I missed the bit about it being a quote from a book.

There are quite a few journos in my family and I rather think that they would regard a newspaper printing excerpts from a book about the generality of an acquisition process as well not exactly news journalism as such.

Or to (almost) quote Dyche, a news piece that is 'much hullabaloo about nothing much...'

Dale Self
8 Posted 25/09/2023 at 17:27:05
Does that dude change baseball hats in the middle of interviews?
Christopher Timmins
9 Posted 25/09/2023 at 17:27:39
Danny, you are at your defiant best when it looks is if the walls are above to cave in.

Supporters like you will keep this club breathing long after Kenwright & Co have departed!

Jim Lloyd
10 Posted 25/09/2023 at 17:30:43
Perhaps you could be his apparel advisor, Dale (eg, Get an Everton one) and tell him to get a shave as well!

Well, we've just got to wait and see if 777 Partners get over the hurdles before a deal is done. But it seems to be moving ahead, what with the loan to the club.

Christine Foster
11 Posted 25/09/2023 at 17:47:34

He must have a bald spot.

Tony Everan
12 Posted 25/09/2023 at 17:49:56
A thought came to me today: 777 Partners haven't sought us out, we have sourced them.

There are so many skeletons in our financial cupboard, it takes a particular buyer to make sure those skeletons stay where they belong. Dan Meis the intermediary?

Christine Foster
13 Posted 25/09/2023 at 17:55:43
Given the long history of offshore loans, dubious affiliations and alleged shadow board advisors, Russian involvement etc, did any of us really think a sale would be simple and straight--forward? Or that everything would be on the table – not under a few rocks?

If I was 777 Partners, I am afraid I wouldn't believe anything unless it's been triple checked by someone who knows all the scams. Sadly, money and trust are not good business partners.

Michael Kenrick
14 Posted 25/09/2023 at 19:07:50
Mark @7,

I know what you mean but that is the level of our beloved local rag.

To be honest, though, I was glad to see them publish this story as it counters the latest clickbait nonsense that even the Nationals have gotten hold of.

The level of on-going negativity about 777 Partners and this deal seems out of all proportion to me. But I could be well wrong and those skeletons lurking in the closets are just girding their loins ready to sally forth…

Dale Self
15 Posted 25/09/2023 at 19:26:10
Christine and Jim, he has a bald spot, we have a blind spot, it’s a marriage made in Monaco. It will be a docudrama soon on the Lifetime Channel, maybe A&E.
Jim Lloyd
16 Posted 25/09/2023 at 19:45:02
Spot on Dale! :)
Barry Hesketh
17 Posted 25/09/2023 at 19:49:36
It seems the Liverpool Echo is waking up at long last – although, due to their ownership, I worry about how they might approach this deal. I don't remember them making too much fuss when Moshiri arrived on the scene.

Everton's future hangs in the balance - and the ECHO is publishing a special report online and in print covering all aspects of 777's proposed takeover deal.

We'll be releasing a series of content with a 6-page special in Tuesday's paper and further content online. With exclusive interviews, opinion and analysis on the takeover, you will get the most detailed analysis on the deal anywhere.

Tony Abrahams
18 Posted 25/09/2023 at 20:51:48
I called it in a very similar way when I heard that Dan Mies has got connections to both MSP and 777 the other week, Tony E.

All's that we can do is speculate. I think I've said that as many times as I've said how much I despise Bill Kenwright on these pages.

Although I tend to agree with Paul The Esk regarding this deal, I do think it's Michael K who has made the most sensible point when he said maybe it's better taking a backward step and waiting to see how the process develops.

Derek Knox
19 Posted 25/09/2023 at 21:04:28
I know you should never judge a book by it's cover, but forgive me, but the person pictured looks more like a pick-pocket or pimp than someone who is orchestrating a make-or-break deal/investment for our beloved Club.

After it has been raped and pillaged by none other than Moshiri and the Maggot ! They won't be worrying where their next paycheck not only, will be coming from, but if it will arrive too !

Kieran Kinsella
20 Posted 25/09/2023 at 21:09:18

Or Donald Trump Junior, Oh wait " a pick-pocket or pimp" if the cap fits. . .

Derek Thomas
21 Posted 25/09/2023 at 22:29:43
SOLD - subject to contract, (a conditional sale) is how we do it for houses in Australia and that 'Subject to Contract' can contain any 'what ifs' both parties agree to. Final bank approval for your new mortgage, surveyors report, solicitors searches... no motorway extensions planned etc.

When all those boxes are ticked, you go 'Unconditional' money changes hands and a date...pretty soon, usually 2 weeks or so... is set for you to pick up the keys and you're in.

How hard can it be ?

Don Alexander
22 Posted 25/09/2023 at 22:47:56
Just to say that Kenwright will probably portray as one of his hokum "good times" the alleged (by him) fact that 777 have seemingly not departed within a day or two of "due diligence" beginning - as so many other potential buyers have historically during his appalling tenure.

And just what the hell is this "data room"?

Might it just be somewhere a bizarre self-convinced accountancy expert, allied by a shyster self-proclaimed football genius choose to stash what little they want third parties to ever see?

Do such self-proclaimed experts/geniuses have "data rooms" elsewhere in the world as well, where massive tax evasion/unaccountability is the norm, you know, the sort of places Russian bent oligarchs allegedly use all the time, together with senior British politicians and "Mozarts of Money" to increase their wealth to the cost of everyone else?

Just asking!

Laurie Hartley
23 Posted 25/09/2023 at 23:15:55
I don’t think he has a bald spot. I had a cursory look through their web site. It looks like an unusual business model to me.

777 Partners People

My gut feeling is that the negative “noise” about them might be coming from groups who are worried that

1. They may be very good at what they do.

2. They may have access to a significant source of investment capital.

My first impression is they look far more competent than the people who have been running the club (into the ground) for the last 7 or 8 years.

Paul Kossoff
24 Posted 25/09/2023 at 23:25:06
I would like someone a lot more versed in the financial side of this to tell me just when 777 would expect a profit or profits, to be made in buying Everton, I just can't see that any time soon.
Si Cooper
25 Posted 26/09/2023 at 00:38:00
Looks like a ‘pickpocket’ or ‘pimp’?
Certainly doesn’t look like either of the pair who got my phone in Barcelona a few years back. My image of a pimp is taken from American tv shows, but again I wouldn’t say he looks the part.
Hopefully these are just casual insults aimed at what many must suspect is someone who is out for undeserved rewards. I won’t go into detail about what I feel about people who are absolutely sure they’ve got the whole measure of someone at first sight and just say I hope there is a special section of hell reserved for them.
Jerome Shields
26 Posted 26/09/2023 at 04:33:54
I do think the 777 takeover will go ahead. The finer details are being thrashed out. There probably has been a lot of negotiation before the agreement was signed. The process will take months as checking takes place and different interpretations of what is best going forward are worked out

I do agree with Michael's opinion that doom and gloom are overplayed. Everton still goes on playing football trying to stay in the Premier League. Such are the complexities of the finances and access to information that trying to give a photo in time opinion is likely to be off the mark and exaggerate the outcomes

Tony Abrahams
27 Posted 26/09/2023 at 07:26:40
One thing that struck me whilst skirting over the piece on the echo website, explaining that Steve Rotherham, the metro-mayor of Liverpool, has written to Everton, over this deal, is why Moshiri, never pursued with the loan that was on offer from Liverpool City Council.

Maybe the borrowing rates were much better when he started building the stadium? But when someone looks a gift horse in the mouth, and then turns his back on it, then maybe it was because the intention has always been to split the stadium away from the club, and get the club to pay rent, to play at our new ground?

More speculation, I know, I wish they’d hurry up selling the club and then just fuck off.

Jerome Shields
28 Posted 26/09/2023 at 08:01:46
Tony, my first impression of the reluctance to take the Liverpool Council loans was that it would have tied him to terms and conditions and more scrutiny.It may have been because of plans to split the Stadium away.

But I think Moshiri has always been wary of scrunity of his Russian connections as a priority right from the start. It may even be a requirement by them.

Michael Kenrick
29 Posted 26/09/2023 at 08:05:24
What an annoying piece of typical Echo local virtue signalling redshite crap that was to read this morning, Tony. Why doesn't Rotheram keep his kopite nose out of it?

And I was scratching around (nearly said Reaching around… eek!) their horrible red website to find this so-called 6-page Special Report on the Everton takeover. All I could find is Joe Thomas doing what passes for journalism by recycling bits and bobs of everything he (and we!) have already read.

Paul @24, I probably don't meet the requisite credentials but the history of investment through purchase of Everton shares has been one that almost consistently shows a fairly substantial return on investment – especially if you hold on to them for a significant length of time.

Add to that the potential provided by the new stadium, especially in American eyes, where they see vast untapped potential for 'monetizing' the home and visiting fanbase by providing a vast array of money-making ventures on the stadium concourse.

I think that's what they are looking toward, and getting over the current financial humps should see them achieve that – as long as we stay in the Premier League.

Gareth Stephens
30 Posted 26/09/2023 at 11:50:27
#29 Michael, I'm not sure that there's any guarantee of us realising the income potential of the new stadium.

At this stage, it sounds very much like the stadium isn't included in the sale of the club. I assume we'll be renting it as West Ham and Man City do. Surely the annual interest payments on a £750M stadium will be more than the rent we'd have to pay (I'm surmising), or the rent will be extortionate. Or 777 purchase the new stadium against EFC (sounds unlikely).

I can't help but think that completion of the sale of the club will be the end of matters. Throw into the mix that the reported Treasury sanctions investigation are ongoing, the future direction of the club still seems to have no obvious path.

Kevin Edward
31 Posted 26/09/2023 at 12:32:31
Data Rooms are great. Full of documents requested as part of due diligence by the purchaser.

So I can imagine them trying to figure out the terms of all the club's commercial agreements and what might be lurking around the corner.

No doubt it will take some time as they pour over the details (small writing on the backs of envelopes included).

And then decide whether to close the deal or walk away swiftly.

Denis Richardson
32 Posted 26/09/2023 at 13:06:09
I’d love to get a copy of the final financial DD report. Lord only knows what’s in the cupboards re offshore loans, players contracts, agent fees, transfer fees owed, transfers between company and shareholders, the USM contract, Finch Farm lease etc.

To go through all that in detail will take months not weeks. Never mind DD on BMD and the funding still needed for that and the FFP hearing in October.

A huge amount to sift through so I’d imagine any final offer will be subject to many things happening or not happening. I can imagine the offer’s probably also subject to avoiding relegation so there’s the possible scenario everything’s agreed by Xmas but it won’t formally happen until June.

This saga’s got a long way to run. Best to avoid and focus on the pitch instead.

Sean Mitchell
33 Posted 26/09/2023 at 13:19:11
Do 777 have any experience with the supernatural or voodoo?
It's time the Everton curse was shifted across the park to the victims.
Michael Kenrick
34 Posted 26/09/2023 at 13:29:36

Yes, that's another nugget for the doom-laden scaremongers doing the rounds. But based on current facts it seems a long way off the mark:

1) Everton hold the leasehold for Bramley-Moore Dock.

2) Everton have paid for all the construction of the new Everton Stadium, ie, all the money has come through the club and has been paid in the name of the club.

3) Although subsidiary companies exist for the development and 'holding' of the new stadium, they are all 100% wholly owned subsidiaries of Everton Football Club.

That means currently all the asset value of the stadium is ultimately held by the club. Yes, there's a lot of loans and charges but the ownership of the new Everton Stadium is 100% with the club.

For Moshiri or 777 Partners or any other third party to own the stadium and rent it back to Everton, there would surely have to be a very substantial fiscal transaction that saw a lot of money coming into the club in exchange for the current (and future?) asset value of the new stadium. Perhaps I'm being naive but I don't think they can just hive it off without the club getting a massive payoff.

Now Moshiri has had a lot of loans converted to equity in the club. I don't know if he still has further loans outstanding but they are probably now a lot smaller than the current value of the stadium, and he doesn't seem to have any other money. Perhaps there could be a deal where the club issues shares in the stadium and gives a certain number to Moshiri in exchange for his outstanding loans?

Perhaps it makes sense for 777 Partners to just buy the stadium and charge Everton rent? But that is not what has been mooted in public. 777 Partners are purchasing 94.1% of the outstanding shares in Everton Football Club, which includes ownership of the stadium.

ps: Sorry, I didn't spot this: the reported Treasury sanctions investigations are ongoing I'm not sure this is real, is it?

Roger Helm
35 Posted 26/09/2023 at 13:32:50
Michael, my experience of American stadia, when we have been to watch baseball, football or basketball is that the fan facilities put ours to shame. Whole concourses full of merchandising and every sort of food and drink available in specialist outlets, including halal and kosher food, food from different countries, all sorts of beer, real coffee, etc. At baseball, they even bring food and drink to your seat!

Whereas this may not be the same for our fan demographic, the new stadium must be a whole lot better than the horrible 1960s experience at Goodison Park, with some American input.

Michael Kenrick
36 Posted 26/09/2023 at 13:51:39
Yes, Roger, that is exactly what I was thinking of. The facilities are just massive.

I don't know if they did this in the Tottenham Hotspur Stadium? But the new Everton Stadium is "Made in America" – surely it must follow a similar model?

Joe McMahon
37 Posted 26/09/2023 at 13:54:18
Roger, you mean there aren't those facilities in the Lower Bullens? I'm with you fully on the 1960s experience and in 2023 it's ridiculous.

I've only been to one American stadium – even though 20 years ago – the facilities were another world.

Chris Corn
38 Posted 26/09/2023 at 14:00:13
34 Michael Good points well made, which balance some of the gloom.

The Genoa journalist has also provided a balanced article, regarding 777 perceived success there.

'They kept their promise' – why Genoa have been so impressed with 777 Partners takeover

Mark Murphy
39 Posted 26/09/2023 at 14:02:30
The Tottenham Hotspur stadium may have all those things for home fans but the away supporters don't get any of it. Just one very crowded downstairs bar (and an empty one up the stairs but don't tell anyone cos that's where I go to get served…).

I was very disappointed tbh. I was expecting steak and fish restaurants but, apart from the clever pour from the bottom pints, it was nothing special.

Michael Kenrick
40 Posted 26/09/2023 at 14:11:14
That does surprise me, Mark. An opportunity missed to provide services to a captive market.

And you just know Billy Big Bollocks would probably look askance at all these franchise outlets on Dan's Plans and strike them out in the style of Sir Phillip nixing the second tier of the Park End Stand.

"We don't need none of that rubbish here. There's no call for it."

Dennis Stevens
41 Posted 26/09/2023 at 14:18:40
Imagine getting a scouse pie & warm eccles cake delivered to your seat, along with a mug of bovril!
Gareth Stephens
42 Posted 26/09/2023 at 14:20:34
#34. Michael. Thanks for clarifying this. My understanding, and assumption, was that it was separately owned by Moshiri. £500m doesn't seem to be a lot of money to buy the club for then. Admittedly, they – 777 Partners – are also taking on a sizable debt.

Regarding the Treasury sanctions investigation, I'm only going on what's been reported, including on ToffeeWeb. I, for one, don't think that the media have an agenda against us even if it sometimes feels that way. Looking at it rationally, I'd say it was very plausible that the government would be looking closely at Moshiri given his close links to his sanctioned 'boss'. And if not, then why not?

Gareth Stephens
43 Posted 26/09/2023 at 14:26:24
#41. If the customer service of the rest of the club is anything to go by, you might get it by the home game after next.
Michael Kenrick
44 Posted 26/09/2023 at 14:57:55
Gareth, I agree about the £500M price being mooted for the club being low. But if 777 Partners assume the outstanding loans on top of that, then the real value is going to be £700M or £800M.

But that's the potential value of the finished stadium by itself! Why would Moshiri walk away from that with at best 50¢ on the dollar? I still don't get it.

Okay, he's really strapped for cash. Maybe this is the only game in town as nobody would give him the cash needed to keep things afloat until the stadium is finished. Maybe 777 Partners see it as a huge leverage opportunity, and getting control of the entire club (okay, 94.1%) is a huge win for them, if they can manage the cash-flow crisis as well as the other shit coming down the pipeline.

Talking of which, I had to search out that Treasury sanctions story – you're right: we carried it back in May: Report claims Treasury are 'reviewing' Moshiri's finances

It's another Simon Godley Guardian super exposé throwing Everton in the shiiter. In the subsequent 4 months... nothing. No follow-up. No sequel. No charges. No report of investigation or action taken on the OFSI website. Nothing.

So did Simon Godley just make it all up? Or did he call them up one day and say "If a major Premier League Football Club was perceived to be in receipt of monies from a sanctioned Russian Oligarch, you would investigate that, wouldn't you?"

Bingo! New story!

Mark Taylor
45 Posted 26/09/2023 at 15:08:23
Michael @34,

I don't think it would be that difficult to seperate the stadium and the club. While Moshiri has put money into both, I believe he still has a c £300m loan for the stadium. Then you have £200m from Rights and Media and a further £100m from MSP.

It's possible some of this money has had to be used to plug the club losses but I suspect not much, if any; most is related to the stadium. Hence it appears a further £150m is needed (give or take a bit) to fund its completion at the quoted cost of £750m. One could either service these loans or convert to equity in a standalone stadium entity. Probably unlikely in the case of R&MF.

I'm not suggesting this is what will happen, or even that it is a good idea, but I don't think it's that hard to do or that unlikely.

What seems clear to me is that the new owners will have to leverage that stadium for all its worth. If you just applied an interest rate of 10% to the loan amount – not unreasonable – that would need £75m of servicing alone. There is no way EFC would be able to meet that.

I think we currently get gate receipts of around £16m. Hence the stadium is likely to need the majority of its funding/rental coming from outside the football club. I don't know how realistic that is. Whether the club itself takes the risk as the owner, or a seperate entity does so and charges the club a usage cost, isn't really the issue.

Personally I cannot see how this stadium makes commercial sense, especially in the current environment. It's a lot of cost for not a lot of revenue increase as far as I can see. But maybe my risk aversion is why I'm not as rich as Josh Wander.

Maybe he thinks if he keeps it as one entity, the overall growth of interest in football, especially the EFL and especially in the US, will see his equity value soar. Or maybe he is busy persuading Moshiri that he might have to kiss goodbye to some of his loan funding to extricate himself.

Craig Harrison
46 Posted 26/09/2023 at 15:21:26
Maybe Moshiri has run out of money or has been told sanctions are coming. So sell up and get what he can before he loses out Chelsea style.

777 Partners may just be hanging around until the stadium is complete and hope a rich Saudi prince needs a new train set.

Mark Taylor
47 Posted 26/09/2023 at 15:57:04

That is very plausible, especially the part about Moshiri running out of money (or at least willingness to provide it at this point) but if there really was a rich Sheikh out there, surely now is the time to buy, if it is truly a distressed purchase and Moshiri willing to get anything he can out. Much cheaper, especially for cash, and no need to let someone else have a margin.

Then of course there is the theory that 777 Partners are themselves merely the front people for such a buyer. That would have more legs if it wasn't for the fact 777 Partners have already bought other clubs, so are already active in the sector. But it appears Everton's transaction dwarves the other deals, probably more than all of them put together.

Gareth Stephens
48 Posted 26/09/2023 at 16:12:28
#44 Michael, I wouldn't be quite so quick to dismiss it as being made up.

The Guardian, Usmanov and Everton were brought up in connection with one another during a Parliamentary debate on the Economic Crime and Corporate Transparency Bill earlier this year - link

Then 4-5 months later, it's reported that Moshiri is being supposedly being investigated.

The timings seem awfully coincidental.

I also wouldn't have thought that any government department would comment on this anyway so we'd be unlikely to hear anything.

Dean Johnson
49 Posted 26/09/2023 at 16:20:21
It's been touched on but I think I personally have an issue with anyone in a suit wearing a baseball cap.

Matthew Johnson
50 Posted 26/09/2023 at 16:24:59
I can't believe the time spent on the baseball cap.

Americans love to wear baseball caps; don't read anything into it.

Paul Hewitt
51 Posted 26/09/2023 at 16:25:33
Dean @49.

My only issue with baseball caps, is when adults wear them back-to-front. It drives me mad.

James Hughes
52 Posted 26/09/2023 at 16:36:00
We are not worth a lot as Kenwright has already sold and then rented back everything he could.

Penfold Moshri was doing okay until Ukraine and then no more cheap steel.

Sorry, I can't add anymore as my laptop hates TW and I have a 2-second delay from typing to appearing on the screen.
Any other site, no problem. UTFT

Barry Hesketh
53 Posted 26/09/2023 at 17:06:28
Mark @ 47,

It's always possible that 777 Partners might be aware of some interest from a nation state. 777 Partners do all the 'hard' work of putting the various clubs within their portfolio in a stable financial position and then sell all of their portfolio to a nation state, at some time in the future.

It's probably an unlikely scenario, but it's not impossible. More likely, if 777 Partners pass all of the various hurdles, they will flip Everton once the stadium is completed.

Michael Kenrick
54 Posted 26/09/2023 at 18:35:33
Well, great timing, Gareth!

The Guardian is indeed back with Simon Goodley drilling down into Usmanov being the source of Moshiri's funds!

I've created a new thread for the Guardian story, and shifted a number of posts over there from this thread. Sorry for the disruption.

Colin Glassar
55 Posted 26/09/2023 at 18:52:38
At least it’s not a MAGA baseball cap. That’s almost as bad as a rs one would be,.
Dale Self
56 Posted 26/09/2023 at 19:29:46
Dean, Paul and Colin, I only brought it up initially because first picture showed a black cap then a grey one. I don't like style slamming, okay maybe a little, but if your dome doesn't shine under the lights why not go with the straight ahead look first time up. If you are an up and coming finance player look the old money part not Sam Bankman-Fried afilliated.
Laurie Hartley
57 Posted 26/09/2023 at 00:04:17
Dale # 56 - after reading through their web site again I don't think there is anything “old money” about Jonathan Tasker which is why I find his partnership with Steve Pasko quite interesting. Maybe a perfect combination because I reckon he is switched on.

I also think his “very casual” visit to messrs Thelwell and Dyche was, what we call here in the land of Oz, to suss them out.

I hope this deal goes through. I think they are in it for the long run.

Mark Taylor
58 Posted 27/09/2023 at 00:39:24
Barry @53

Yes, certainly possible, whether formally or more likely, informally.

That said, if it were the case, I think a buyer should move fast. The situation is incredibly volatile right now and can't be easy for staff and players. Anything could happen in the next half hour.

(I think that is a line from Thunderbirds and we could do with Brains right now, if you know the reference.)

Ed Prytherch
59 Posted 27/09/2023 at 00:58:54
Laurie 57, It might not mean much but you are on my short list of people who's posts I always read.
Laurie Hartley
60 Posted 27/09/2023 at 01:43:02
Ed # 57 - I will take that as a compliment - I don’t get many although I do remember Dave Abraham’s called me a gentleman once 😉.
Dean Johnson
61 Posted 27/09/2023 at 07:07:33
Guys, the baseball cap in a suit is a Trumpism.

Guys in suits and caps: Trump, Boehly, Glazers etc.

That style just smacks of "businessman wears a cap to show he's a man of the people".

You think these guys don't have stylists and tell them what to wear to appeal to the common man?

Can't believe I had to explain it to you really, but hey there's always everyone's morality to consider when discussing capitalist movements, right? 😵

Laurie Hartley
62 Posted 27/09/2023 at 09:04:01
Dean # 61 - howdy 😉
Kim Vivian
63 Posted 27/09/2023 at 09:35:29
I'm not quite sure why he's wearing it indoors - looks a bit naff but it doesn't really bother me tbh, but the main reason I wear a baseball cap other than in bright sunlight is to hide a bad haircut...!
Tony Everan
64 Posted 01/10/2023 at 13:40:22
Michael, here’s the feedback of the esk’s online meeting with Dan Dransfield of 777.


Barry Hesketh
65 Posted 01/10/2023 at 13:49:25
Gulp! The final paragraph of the article that Tony above linked to.

777 partners, in my opinion, are not appropriate buyers of Everton Football Club, from a moral, ethical, financial, managerial and immediate needs based perspective. I understand entirely the view (almost certainly, fact) that without an immediate or near immediate buyer the existential crisis Moshiri spoke of will occur. We, a 145 year old institution, will go out of business. However, that doesn’t mean that 777 Partners are the solution to our problems, the reverse is true in my opinion.

All stakeholders, supporters, investors, local business people with the means, politicians, even the footballing authorities must see what is ahead of us and act accordingly. A solution different to 777 Partners has to be found – even at this very late hour

Dale Self
66 Posted 01/10/2023 at 13:59:55
Dean 61, but does he wear the sneakers with the suit? That is the tell, along with your astute WARdrobe analysis.
Kieran Kinsella
67 Posted 01/10/2023 at 16:50:50
Paul “Esk” Quinn has finally published details of his summit with 777 players, and he has nothing to share.
Dave Lynch
68 Posted 01/10/2023 at 17:07:55
"In my opinion" being the operative statement.
Jay Harris
69 Posted 01/10/2023 at 17:10:24
Only a negative prediction Kieran.
Kieran Kinsella
70 Posted 01/10/2023 at 20:17:01

Absolutely zero substance after he published his questions then left a tantalizing tweet for 48 hours about a “spirited discussion.” It was pretty obvious they wouldn’t answer his questions as they’ve already said they won’t discuss anything while talks are ongoing. But he hyped it up like some scoop only to admit basically nothing was discussed of interest.

Dave Abrahams
71 Posted 01/10/2023 at 20:29:43
Laurie (60), Yes I remember that and still think of you that way simply because that’s the way you come across with your posts, nice and easy to read and you obviously love Everton which makes it easier to like you, I think I’ve got to buy you a pint if you eventually get back over here, not sure about that Laurie, the bleedin’ prices haven’t gone up over here but Ned Kelly’s ( Sovereign Cross) is still relatively cheap!

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