Yet more dirt on 777 Partners dug up by Josimar

However the old saying There is no smoke without fire. I think that the Prem League and the FCA will be looking closely at this. I hope it gets sorted soon. The smell however gets more noxious as each day passes though.

This whole thing is a farce. I read some time ago that, when trying to buy Sydney FC, they never gave up the requested financials but kept lending them money so in the end they were in de facto control and the Aussie FA just capitulated and let them have it. I imagine this is their plan with Everton.

From my point of view, it should be pretty simple. Provide details requested by x date; if you don't, you're not approved. Masters is just letting them kick the can down the road seemingly indefinitely. They should just end it now and say "You failed to meet our guidelines by not providing info." End of.

777 Partners have a 25% stake in Flair and invests at an 18% loan interest rate. Such news could further impact 777's Premier League approval process.

I've heard they are still waiting in the wings although with Americans not really understanding the concept of relegation, getting back some of our points would really help things move a lot quicker once 777 Partners are told they are not going to be allowed to own Everton.🤞

I know you have got this filed under fantasy, but I suppose Everton have been pure soap opera for years…

The only reason I am confused by this is why they are still being reviewed by the Premier League. I wonder sometimes if Moshiri is selling to them for spite? Like all things Everton, we never get to see the truth.

You do wonder about spite, Christine, and if Moshiri is being spiteful then I think he's picking a group that won't pass the fit and proper test (has he picked a good one since he's been here?) so you do wonder why the Premier League are taking so long in making this decision?

It's absolutely imperative that Everton Football Club, get decent owners with a proper thought-out plan so I would even describe it as one of the biggest decisions of my Evertonian lifetime.

Thing is, the FCA — who you'd think would be all over these kinds of financial shenanigans — are said to have given 777 Partners the nod to proceed, and we're only waiting on the Premier League now.

Still no reference to this, though, in the News section on the FCA Website.

It has got a bit to run yet but the current direction of travel doesn't look good for 777 Partners in my view.

Where Everton will end up is a mystery to me though.

Moshiri started the ball rolling when he walked through the door in 2016 with a complete scattergun approach to everything he did. It's easy to blame the deceased Bill Kenwright but I feel this is primarily on Moshiri's shoulders.

777 Partners look like a walking disaster zone and it's an almost perfect match for the shipwreck that is Everton in 2024.

I got a nice thoughtful reply. It's a bit long but here's the meat of it:

I understand from your query that you're contacting us regarding 777 Partners. You've explained that you've seen on some news outlets that we have given our approval to 777 Partners as the prospective new owners of Everton Football Club Co Limited. You've told us you have seen nothing related to this on our News section and you've asked if we have reviewed and/or approved 777 Partners. Please find below some information which you may find helpful.

Our role

I thought it would be useful to provide you with information about the FCA and what we do. We're responsible for the conduct and supervision of regulated firms such as banks, building societies, insurers, investment firms and those offering consumer credit in the UK. We set the rules and regulations for authorised firms to follow in relation to their regulated activities (such as credit broking or insurance services). Further information can be found on our website www.fca.org.uk.

777 Partners

I’ve conducted a search on the Financial Services Register (FS register) which is a public database of the firms we authorise and regulate and it also shows warning pages for unauthorised firms.

I’ve been unable to locate a firm called 777 Partners which means they’re not authorised by us.

Providing updates

Unfortunately, we're unable to make any comment on any prospective applications for authorisation which may or may not be in progress. If a firm is authorised by us to provide regulated financial products or services, they will appear on the FS register.

Additionally, we're unable to make any comment on any news articles published by anyone other than ourselves. I, too, have searched our website and have found no published information relating to 777 Partners.

I appreciate this may not be the response you were hoping for but wish you all the best going forward.

Makes me wonder if it's worth going back to the news source who posted this… I think it was the Friday before Christmas? I follow up tomorrow.

If, as your post says, the application is still pending, then they cannot comment (confirm or deny) any application status (bit unhelpful, I know).

Still doesn't answer the question of where the source is... or if it's true!

At least it appears that as of the date of the response to your enquiry the FCA had not approved 777 Partners.

However, it also appears they have not ruled out a present application by 777 Partners.

Personally I would have thought the PL would not give approval to 777 Partners before approval by the FCA.

When asked at the Commons, Masters indicated their decision would be in weeks not months. That being the case, I would suggest the Premier League decision is imminent. Unless Masters is lying of course.

Also, 777 Partners might not appear on the FCA full-blown authorisation list, I think the clearance for the Premier League was limited solely to credit licensing for the purposes of season ticket financing for fans.

You're right, mate that's definitely an AI response. Hmmm… maybe explains why the process is so long. AI can't be bamboozled by sweet talk.

If in fact Usmanov has been pulling the strings (and holding the purse-strings) all along, then maybe we'd be better off getting the Premier League and UK government to step in and enforce the removal of the old regime on similar grounds to Abramovich being forced to sell Chelsea FC.

Truth is, unless there is a paper trail, we will never know, but it's not inconceivable that someone with great wealth could get around sanctions through third-party entities. If you have the money and inclination, someone with the expertise to move money through crypto, offshore loan deals, can be found. Has Moshiri or Usmanov lost the money?

But the question has to be asked is why? Where is the motivation, never mind the proof. This has always felt like it was a long-term real estate game scuppered because of sanctions. But are these two "friends" – "business partners"
of many years – just walking away? I doubt it...

It would surprise me if these two amigos just walk away from half a billion or whatever it is.

Usmanov may well be sanctioned now but, as we've seen over centuries, money talks and one day the moneymen and politicians will decide we're all mates again.

It has all the hallmarks – repeated prompt, statement of corporate function, and subheadings. It also came back pretty fast, like next day, and contains no mistakes that I could see, which is something these large language models seem quite good at, as you might expect!

I think you might be right on the likely very limited scope of financial services 777 Partners would provide, which seems to be all FCA are concerned about, and possibly why 777 Partners do not appear on the Financial Services register, even if they have been the subject of a narrowly targeted review.

This is what I was told when I asked about BingX and Russia:

BingX has publicly described itself as a "steadfast supporter of the Russian crypto community." They hosted an event during Moscow Tech Week, showcasing their commitment to innovation and engagement within Russia. Their app and website are available in Russian.

While BingX has offices in various regions, information about their financial backers and ownership structure is limited. There is no evidence suggesting direct links to sanctioned individuals or companies.

The association with Chelsea Football Club, which previously had ties to Russian billionaire Roman Abramovich, might create an indirect link. The timing of the sponsorship deal, amidst the ongoing war in Ukraine, has raised concerns and scrutiny.

The UK government and Premier League have not found any reason to intervene in the Chelsea sponsorship deal due to lack of evidence of sanctions violations. It's crucial to distinguish between legitimate business activity in Russia and supporting individuals or entities involved in harmful actions.

BingX has connections to Russia through its marketing efforts, language support, and presence during industry events. However, there is no concrete evidence of direct links to sanctioned individuals or companies. As the situation is complex and sensitive, it's important to stay informed and critically evaluate information from various sources.

I know creditors get shafted in this situation and can end up with 10p in the pound, is it the same with debtors?

Apologies if this is a stupid question.

I read on the the BBC that along with other countries, the UK is still importing Russian oil by proxy as it is refined in India and / or China.

Maybe Usmanov could / should have set up a proxy company in one of those countries.

I don't confess to know the exact figures, but we've lost at least £200M in sponsorship.

None of the clubs that they already own seem to have improved under them which is reflected in the fans’ feelings towards them.

We have all suspected for some time now that there may be some sort of link with the past however and since our owner was very close to a Russian benefactor we may have suspected that was the likely source. To get where they are today such people tend not to throw in the towel at the first obstacle they face, particularly after investing already in a venture.

The last few posts are maybe pointing us in that direction too. What a tangled web we seem to be involved in. Talking about being the bag carrier for the wrong man isn't the half of it if that is true.

On a more realistic note, if that is the case, or close to being the case, the Premier League should give us the points back, refuse approval to 777 Partners for the many good reasons they already see in plain sight in front of them, and release us from this seemingly spiral of hell.

I may have got it all wrong, however. Please discuss.

They don't seem to have much cash and their early loans to the club were reportedly funded by borrowing. From what I can see, none of their investments seem to be thriving.

I absolutely dread them taking us over.