777 Partners 'in default' after new missed payment claims

The breaking news around 777 Partners and Vasco da Gama is not good. I can see the Premier League using the independent commission to force Moshiri to take a hit selling his shares in Everton to an owner who is preferred by the Premier League.

If you think things look dodgy for Everton now, just wait till 777 take over.

The Vasco situation is that 777 are supposed to have made a payment by tonight or last night, not very good on Brazilian time, but even if 777 don't make that payment in good time and trigger a buy back clause, they would on appeal, still have until November 6th to rectify the situation.

You are right. Moshiri has signed an agreement with 777 Partners and made in public. If they can fulfil their obligation within the required time and within rules other than that, there is little that can be done. The scenario you predict is likely.

Where it says: "777 will still have another chance to make the payment and recover the shares. Once the associative club exercises its right, the investor will have another 30 days to deposit the money and be up to date."

That really sounds like this is not the end of the world but instead yet another scaremongering piece about very little of substance. Just normal operating brinksmanship from 777 Partners as they move their money around in their perennial shell game.

I would imagine the remit of the independent commission is very tightly defined by the Premier League, Jerome @2, and that it relates only to the alleged P&S breach in 2021-22.

It also could indicate a group in over its head that possesses an unhealthy lack of respect for reputation and standards.

Upon reading Pat's post, I remembered that Moshiri has signed a contract and that 777 Partners can legally operate within the regulatory and statutory limits.

I don't think the government or Premier League can do anything about Everton's ownership. I expect them to receive fitness and regulatory approval. There seems to be a concerted media campaign to prevent this or at least muddy the waters.

I've read Section F of the handbook and, apart from having a known interest in other clubs – one of the rules, but it seems one that has some slack in relation to foreign clubs – there is nothing in there that I can see would disqualify them.

I read a grim post that sounds like it's got an element of truth to it:

“All this indicates, however, is that 777 will separate the football club from the stadium and won't invest in the football club (which seems to be the problem at the clubs they have 'an interest' in). That way, they get to pay Moshiri the minimum amount possible. It's a bit like the administrators of Wilko saying they're looking to save everything but then agreeing a price for some shops with Poundland and B&M and closing the rest.

777 are business breakers and administrators in all but name.”

As long as they meet the Premier League criteria, they will be deemed fit. This will be done by providing verifiable information, which they will provide and it will be correct.

There is no doubt that they see Everton in business terms as a distressed asset. They will be getting as much out of the assets as possible and will be productivity and profit-driven on the football side. Moshiri won't be paid more than is absolutely necessary for his shares and will probably lose money.

There are other suitors who have been waiting in the wings, including Kenwright associates hoping to profit, but they have been beaten by 777 Partners. Part of the media reports and rumours is their frustration of having missed out and hoping 777 Partners will fail, so they get a second chance.

The Premier League sees Everton as a distressed asset and will be glad that Moshiri has done a deal. Rights & Media Funding seem content enough, and they do know what they are about financially.

The one successful part of Brexit is the less regulation it afforded the City (finance). I have always thought that was the main reason behind Brexit.