777 Partners Takeover
Re: 777 Partners Takeover
Msp are to be repaid their €160m today.
If they are not they could try to realize on their collateral. I'm not sure what that is but think it's more stadium related.
I'd expect they'll provide some sort of extension or 777 will have to pay them put and takeover that debt (seems unlikely as I don't know where they are getting that money from).
If they are not they could try to realize on their collateral. I'm not sure what that is but think it's more stadium related.
I'd expect they'll provide some sort of extension or 777 will have to pay them put and takeover that debt (seems unlikely as I don't know where they are getting that money from).
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777Kidnappings
- Posts: 760
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Re: 777 Partners Takeover
MSP set up a deal hoping they'd default and then they could take the club on the cheap........ since then they've realised the club isn't worth anything like even the 130m they are owed
Moshiri and msp need it to be 777 to get their money. 777 don't have a pot to piss in. 777 can't pull out because they are owed money. Stuck in limbo and the reality is all 3 are probably going to lose their money
Moshiri and msp need it to be 777 to get their money. 777 don't have a pot to piss in. 777 can't pull out because they are owed money. Stuck in limbo and the reality is all 3 are probably going to lose their money
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ToffeeparkUS
- Posts: 8
- Karma: 6
Re: 777 Partners Takeover
Just been listening to Simon Jordan on talksport.
He’s close to one of the MSP dudes and said they don’t want to call in the loan as they don’t want us going into administration.
Sounded like he was implying they’re waiting it out and hope to take us over in some form or other.
He said from what he knows administration is very unlikely as there are people with money who want to be involved.
He’s close to one of the MSP dudes and said they don’t want to call in the loan as they don’t want us going into administration.
Sounded like he was implying they’re waiting it out and hope to take us over in some form or other.
He said from what he knows administration is very unlikely as there are people with money who want to be involved.
Re: 777 Partners Takeover
Not quite sure why you'd chose to listen to that station and him in particular, I'd take anything they say with a massive pinch of salt. But if he's right that would be the perfect solution. Big if though
Re: 777 Partners Takeover
Simon Jordan has been spot on with a lot of things he’s said about Moshiri and the running of the club.
Not saying anything he’s said is going to happen but when you’re in work and want to get a decent perspective on what’s happening it’s a decent listen.
Not saying anything he’s said is going to happen but when you’re in work and want to get a decent perspective on what’s happening it’s a decent listen.
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Bluebridge
- Posts: 208
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Free Agent
- Posts: 104
- Karma: 28
Re: 777 Partners Takeover
We all talk a lot about relegation, but the bigger picture is that the football club needs to survive. That's number 1 priority.
I am going to assume that we survive this season, as I think that the probability of that is still in our favour. I will also assume that the 777 takeover will go ahead.
I feel like at some point in the very near future, a decision has to be made to sell the majority of the quality in the squad to cut costs dramatically. I think 777 will go down this path.
What we can't do is continue to run the football club on a wage/turnover of 93%. It's suicidal, especially if you then get relegated. That would end the football club. We need to be bringing this down to 70% in order to fund interest costs on the stadium.
Interest costs have to be at least £30m on the loans – it’s probably more but I will use this figure. I read somewhere that the £160m loan interest was base rate + 5.25%, equating to £16m a year on just this tranche.
Until we can utilise the new stadium’s increased revenue base, then we have to be working on the premise that we survive and stay in the PL next season, and that turnover remains at £172m.
If that’s the case, then we need to cut the wage bill down to £120m (70% of £172m) from £159m (93% of £172m). That’s £29m off the bill next season.
If we can cut the wage bill by the above amount and stay in the league this year and next, then we will have a fighting chance off the pitch to be able to rebuild on it.
If we think that the last 3 years have been tricky, I think the next 2 years might be the most crucial in our club’s history.
I am going to assume that we survive this season, as I think that the probability of that is still in our favour. I will also assume that the 777 takeover will go ahead.
I feel like at some point in the very near future, a decision has to be made to sell the majority of the quality in the squad to cut costs dramatically. I think 777 will go down this path.
What we can't do is continue to run the football club on a wage/turnover of 93%. It's suicidal, especially if you then get relegated. That would end the football club. We need to be bringing this down to 70% in order to fund interest costs on the stadium.
Interest costs have to be at least £30m on the loans – it’s probably more but I will use this figure. I read somewhere that the £160m loan interest was base rate + 5.25%, equating to £16m a year on just this tranche.
Until we can utilise the new stadium’s increased revenue base, then we have to be working on the premise that we survive and stay in the PL next season, and that turnover remains at £172m.
If that’s the case, then we need to cut the wage bill down to £120m (70% of £172m) from £159m (93% of £172m). That’s £29m off the bill next season.
If we can cut the wage bill by the above amount and stay in the league this year and next, then we will have a fighting chance off the pitch to be able to rebuild on it.
If we think that the last 3 years have been tricky, I think the next 2 years might be the most crucial in our club’s history.
Re: 777 Partners Takeover
Nightmare fuel
But then again, no facet of the club is in any way shape or form positive.
Whatever the outcome is will be a shite one.
But then again, no facet of the club is in any way shape or form positive.
Whatever the outcome is will be a shite one.