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Re: 777 Partners Takeover
Posted: Sat Mar 23, 2024 2:21 pm
by Paddockoldie
I'm not sure how, with all the litigation stuff about, the PL can say they are mindful of approving them. Legal uncertainty in terms of how 777 fund things should be ringing alarm bells.... unless, they've set out to fuck us one way or another.
Re: 777 Partners Takeover
Posted: Sat Mar 23, 2024 3:23 pm
by Trowel
For balance, I don't think the interview with Genoa's chief exec has been posted. I take a lot of it with a pinch of salt given it's a PR puff piece, but there are some impressive numbers there, and perhaps more importantly some signs of long-term strategic and commercial nous.
https://www.sportcal.com/interviews/in- ... genoa-cfc/
Re: 777 Partners Takeover
Posted: Sat Mar 23, 2024 3:26 pm
by Trowel
Re: 777 Partners Takeover
Posted: Sat Mar 23, 2024 6:55 pm
by Trowel
It has emerged that the league’s board wrote to Everton this week confirming it was “minded to approve” 777 Partners becoming their new owners subject to stringent conditions being met.
Telegraph Sport has been told those conditions included stipulations around funding for the club and a failure to comply would lead to the takeover being rejected.
Re: 777 Partners Takeover
Posted: Sat Mar 23, 2024 6:57 pm
by Trowel
https://josimarfootball.com/2024/03/23/ ... al-access/
Josimar has been told by multiple sources with sight of the Premier League’s official letter that the four main conditions are conversion of loans by 777 totalling just over 150 million pounds into equity, funds into an escrow account to keep the club going for the rest of the season, proof of funding to complete the new stadium, and repayment of MSP’s 158 million pounds stadium loan by mid April. These are not the only conditions. But they alone mean that the total extra funding still required by 777 to complete the purchase is well over 300 million pounds, before you even take into account the price agreed with Moshiri for his shares, which Josimar understands to be just 64 million pounds up front, rising potentially as high as 130 million pounds if a series of milestones are met.
For a company currently experiencing a liquidity crunch, that is a challenging task.
---
For these reasons and others, Josimar understands that there is little optimism from Moshiri’s camp, or indeed in Premier League circles, or even privately from inside the firm itself, that 777 Partners will be able to meet the conditions set by the Premier League to complete the purchase of Everton. Even if they do, the league’s board would still have to meet to make a final decision before passing the transaction along to an independent oversight panel.
In short, it is make or break time for 777 Partners. And Josimar understands that a rival US bidder remains waiting in the wings should they be unable to complete a deal.
Re: 777 Partners Takeover
Posted: Sat Mar 23, 2024 7:13 pm
by Shogun
Excellent news
Re: 777 Partners Takeover
Posted: Sat Mar 23, 2024 7:36 pm
by brap2
So essentially - nothing changed
Re: 777 Partners Takeover
Posted: Sat Mar 23, 2024 8:03 pm
by AjaxAndy
Anything positive regarding this deal or talk of us going in to administration if it doesn't are just stories leaked by 777 for PR purposes imo.
There's never any substance to them, it's just puff pieces designed to create some media that's not about them being basically a dumpster fire.
Re: 777 Partners Takeover
Posted: Sat Mar 23, 2024 8:53 pm
by TheRam
If these get approved I will be 100% convinced they’re using Usmanovs money.
Re: 777 Partners Takeover
Posted: Sat Mar 23, 2024 9:28 pm
by brap2
AjaxAndy wrote: ↑Sat Mar 23, 2024 8:03 pm
Anything positive regarding this deal or talk of us going in to administration if it doesn't are just stories leaked by 777 for PR purposes imo.
There's never any substance to them, it's just puff pieces designed to create some media that's not about them being basically a dumpster fire.
Wouldn't touch them with a ten foot barge pole.
But they're *probably* a better football organisation than Moshiri's motley crew, in pure footballing terms.
Re: 777 Partners Takeover
Posted: Sat Mar 23, 2024 11:48 pm
by Free Agent
Trowel wrote: ↑Sat Mar 23, 2024 6:57 pm
https://josimarfootball.com/2024/03/23/ ... al-access/
Josimar has been told by multiple sources with sight of the Premier League’s official letter that the four main conditions are conversion of loans by 777 totalling just over 150 million pounds into equity, funds into an escrow account to keep the club going for the rest of the season, proof of funding to complete the new stadium, and repayment of MSP’s 158 million pounds stadium loan by mid April. These are not the only conditions. But they alone mean that the total extra funding still required by 777 to complete the purchase is well over 300 million pounds, before you even take into account the price agreed with Moshiri for his shares, which Josimar understands to be just 64 million pounds up front, rising potentially as high as 130 million pounds if a series of milestones are met.
For a company currently experiencing a liquidity crunch, that is a challenging task.
---
For these reasons and others, Josimar understands that there is little optimism from Moshiri’s camp, or indeed in Premier League circles, or even privately from inside the firm itself, that 777 Partners will be able to meet the conditions set by the Premier League to complete the purchase of Everton. Even if they do, the league’s board would still have to meet to make a final decision before passing the transaction along to an independent oversight panel.
In short, it is make or break time for 777 Partners. And Josimar understands that a rival US bidder remains waiting in the wings should they be unable to complete a deal.
After reading that, I wrote a letter to myself to inform that I’m minded to have a good weekend
Re: 777 Partners Takeover
Posted: Sun Mar 24, 2024 8:20 am
by Dchans
So
Basically, if they can’t prove they have the funds then it will be rejected and there’s someone else in the mix too
Good news all round
Re: 777 Partners Takeover
Posted: Sun Mar 24, 2024 9:19 am
by Evertonfc15
yeah good news - just dont trust 777 at all
this rival US bidder - is it an oil baron waiting in the wings i wonder hmmmmmmmmmmm
Re: 777 Partners Takeover
Posted: Sun Mar 24, 2024 9:51 am
by Bluebridge
Evertonfc15 wrote: ↑Sun Mar 24, 2024 9:19 am
yeah good news - just dont trust 777 at all
this rival US bidder - is it an oil baron waiting in the wings i wonder hmmmmmmmmmmm
Probably Jed Clampitt.
Re: 777 Partners Takeover
Posted: Mon Mar 25, 2024 9:02 am
by Trowel