Journalists at Bloomberg provide their synopsis and analysis of Everton's situation as the regulatory approval process for the planned takeover by 777 Partners drags on.
Their hook line is to compare the risk of administration for Everton with what happened to Portsmouth in 2010, arguing that the collapse of such a massive and historic club would be a huge embarrassment to the Premier League, especially with substantial TV rights deals in process and the UK Government pushing for an independent football regulator.
They portray the acquisition of the club by 777 Partners as fraught with risk in terms of mounting debt and sources of funding, along with the uncertainty over regulatory approval in light of this contrary claim regarding the FA allowing Wander and Sasko to be Directors of Everton if the takeover goes ahead:
"The acquisition also has to get the blessing of the FA, the UK’s footballing organizer. According to reports, 777’s directors have been approved by the FA. A person with direct knowledge of the process said that’s not yet the case. Something doesn’t add up."
» Read the full article at Bloomberg
Reader Comments (18)
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2 Posted 11/11/2023 at 12:28:25
Whether there is any great truth or serious insight is an entirely different matter.
3 Posted 14/11/2023 at 09:42:39
I have a friend, Mark Shipman, who is a professional investor who was contacted to appear on Bloomberg. They wanted to know his opinion on the price of gold. He said it would rise in the medium term. Bloomberg instead opted for another professional investor who said the price of gold would collapse. The price of gold rose in the medium term as he predicted.
Mark is a West Ham supporter, similar to a ToffeeWeb type.
4 Posted 14/11/2023 at 10:04:55
One interesting thing was the graph. Villa making more losses than us. Are they next in the firing line?
Also to see Brighton down there if the facts and figures are correct. The apparent gold-plated example of how to run a club.
Caveat, I don't claim to understand any of this. I just know that when we get the inconvenience of the irritating international break out of the way, we have to go to Goodison and beat Manchester United.
5 Posted 14/11/2023 at 10:16:19
What a pity that none of their owners could be bothered to attend, and the manager saying he had a prearranged appointment he couldn't get out of really?
6 Posted 14/11/2023 at 10:20:05
7 Posted 14/11/2023 at 10:48:02
We have nothing to fear. It is an independent commission without Premier League interference… If you believe that, you will believe anything.
What happens next will set the bar for Man City and other transgressors in the future.
Everton's legal team should be raking up the breakaway teams who wanted to form their own Super League and their consequences? On the basis of that, we have no case to answer.
8 Posted 14/11/2023 at 11:04:52
We have not been run properly for decades and everything starts at the top, imo, so I believe it's absolutely imperative that we get decent owners.
Even more imperative that they will have a well-thought-out plan to help take us away from just existing, and then hopefully start helping to take Everton back to where we used to belong.
9 Posted 14/11/2023 at 11:11:18
It sets a convenient precedent that can then be applied to subsequent guilty parties. Man City might accept a virtual slap on the wrist, if only to save on legal fees.
12 Posted 14/11/2023 at 11:27:15
We have not been run properly for decades and everything starts at the top, imo, so I believe it's absolutely imperative that we get decent owners.â€
Sometimes a poster just hits the nail on the head with a great statement. Tony, ðŸ‘.
We will deal with whatever the independent commission throws at us good, bad or ugly. With regards who takes us over, that will affect the club for many years to come. I'm far more concerned that this has a positive outcome.
13 Posted 14/11/2023 at 12:30:11
I am concerned about what type of owners become involved with our great club, and I am not a fan of the proposed new owners, but what can we do from a sedentary position to impact the sale of our club to them? We will obviously have to give them a chance to prove their credentials and intentions.
Regarding the independent commission, any points deductions or sanctions will impact upon our status, but I don't believe that even a so-called independent body will dare to impose any penalties that will jeopardise our Premier League status, on the basis of the can of worms that it will open.
14 Posted 15/11/2023 at 06:46:49
From their track record, they're going to put in as little as possible, and take out as much as they can. They are in it to make money.
I've got a feeling that we are going to be treading water for the foreseeable future.
15 Posted 15/11/2023 at 07:59:22
After Bill Kenwright's death, I kept reading people praising the man because they believed his intentions were always centered on Everton, and nobody questioned his credentials because he was an Evertonian.
Kenwright begged, stole and borrowed, and every single thing I read about 777, makes me think they will be replicating what our departed Chairman did, but because the price of Everton has risen, it will be done on a much bigger scale.
I don't want 777 Partners, especially because I've been told there is at least one other very interested party, and although I don't know much about this other group, something tells me they will be a lot safer than the magpies who have their fingers in a lot of pies.
16 Posted 15/11/2023 at 08:38:26
But I gather even this is now in doubt with the Premier League set to vote on banning loans between such clubs, seemingly to stifle Newcastle's advantage.
17 Posted 15/11/2023 at 08:42:48
I suppose I am just prioritising, something I have been conditioned to.
18 Posted 15/11/2023 at 10:10:15
19 Posted 15/11/2023 at 10:24:31
I've been told that the other group have a man who is aware of how badly mismanaged Everton have been, and he's also aware of the massive potential of the sleeping giant, but it's only hearsay at the minute, and although I've heard it expressed that they finally believe they have wind in their sails, with regards a takeover, I've also heard that they are aware that 777 are in the box seat, so all's they can do, is sit back and wait, with their fingers crossed🤞
20 Posted 16/11/2023 at 00:13:13
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1 Posted 10/11/2023 at 22:15:07
And reassuring (not!) that one set of journos can scratch around and find their own unnamed sources who will say the complete opposite from the other set of journos.