777 Partners Takeover

[PoD1878]

[AndSeel]

MSP will just call in their debt and take over. I imagine pretty quickly too.

Sent from my SM-G977B using NSNO Everton Forums mobile app

[777Kidnappings]

MSP will just call in their debt and take over. I imagine pretty quickly too.

Sent from my SM-G977B using NSNO Everton Forums mobile app

Surely they are only allowed to take over 50% for their 160m which was agreed. They decided against that already which suggests they no longer value the club at 320m

[brap2]

So we've not seen the last of these jokers then. Wtaf is going on.

[Toffee1]

So we've not seen the last of these jokers then. Wtaf is going on.

Today should be a day for the fans to enjoy the last game of the season, without relegation hanging over our heads but these clowns and Moshiri are making it all about them.

Will be so glad when this drama is over but knowing Everton, it will drag on and on.

[Toffee1]

So this is part of an agreed deal but hopefully, it will be the last payment and they get lost.

[AndSeel]

Surely they are only allowed to take over 50% for their 160m which was agreed. They decided against that already which suggests they no longer value the club at 320m

I think they can get 50% +1 they would be in control regardless.

Sent from my SM-G977B using NSNO Everton Forums mobile app

[777Kidnappings]

I think they can get 50% +1 they would be in control regardless.

Sent from my SM-G977B using NSNO Everton Forums mobile app

My point was more that they decided against it at that previously agreed price.

Which suggests 777 are offering more than 320m and that when 160m for 50% was agreed they thought they'd be getting a good deal and that's no longer the case. If they wanted 50% for 160m they'd have called in the loan.

The way we are going we are going to have almost a billion of debt by the time we are in the new stadium..... is the club even going to be worth the level of debt.


For me moshiri is obsessed with 777 because they are offering him 400m for something that might be worth close to nowt

[Gary1878]

My point was more that they decided against it at that previously agreed price.

Which suggests 777 are offering more than 320m and that when 160m for 50% was agreed they thought they'd be getting a good deal and that's no longer the case. If they wanted 50% for 160m they'd have called in the loan.

The way we are going we are going to have almost a billion of debt by the time we are in the new stadium..... is the club even going to be worth the level of debt.


For me moshiri is obsessed with 777 because they are offering him 400m for something that might be worth close to nowt

It’s never about the absolute level of debt, it’s always about how serviceable the debt is. For that, you can look at the interest cover ratio (earnings before tax / interest due). Ideally, you would like this number to be a minimum of 2 or 3x cover.

Now for us, if you take £172m of revenue - £159m of total wages = £13m left. Then assume we are running at £500m of debt at 8% (very conservative estimate given the current interest rate environment). That’s £40m of interest per annum.

£13m left into £40m of interest costs is not good. Interest coverage of 0.32. That’s 3 months. So we are living month to month just to service debt costs and wages. And thats before any other costs. It’s not sustainable over any sort of term and needs a higher revenue base to service the costs.

What we should be looking to do is to get the revenue up to £250m (for example) over the next 2-3 seasons and keep the same wages. Then you are looking at £250m - £159m = £91m / £40m = interest cover of 2.2x.

This is all just estimated stuff but hopefully helps.

[bigmanbob]

Paul Brown is reporting:

Insolvency advisors have now been called in at 777, shortly after Everton moved to do the same, and co-founders Josh Wander and Steven Pasko have been removed from their positions on the board of the football division

[Cereal Killer]

So we've not seen the last of these jokers then. Wtaf is going on.

I imagine this is why Moshiri isn’t binning them off straight away, he’s signed them up to some deal where they keep having to put money in every month whilst the takeover is “pending”

[Toffee1]

[HANNU]

is he one of the msp guys?

[Trowel]

is he one of the msp guys?

He's not MSP, but was involved in the original MSP bid, as was Andy Bell.

[777Kidnappings]

is he one of the msp guys?

I've lost track too.