*Shakes head* Everton again.

[Barrington Womble]

11 hours ago, The Guest said:

It still doesn’t make sense.  Why would a company that are clearly on their arse and struggling financially pretty much everywhere be keeping a company they don’t own afloat.  A company that isn’t going to be able to pay these “loans” back if they don’t take over and won’t make anywhere near the profit to cover the investment that these loans would turn into.

 

Everything is so dodgy it’s hard to tell what everyones motives are.  The more I think about it the more it makes sense that the only person possibly benefitting from this is Usmanov.  If they go under then he loses everything he’s invested.  It’s possible that since he’s had a lot of his assets frozen and that he’s on all these lists because of the Russia Ukraine war that maybe he’s struggling to get his money to Moshiri to keep the club going and the stadium being built.  Nobody seems to know where 777’s money is coming from that they are loaning to Everton and maybe the premier league are suspicious as well.  They’re already linked with all sorts of gangsters in the US so maybe he’s doing via them.  The premier league can’t stop Everton loaning money but the longer they just let it go on the more ridiculous is looks on 777’s behalf.

I was out with a couple of bloos yesterday and they are convinced usmanov is funding 777. Which would be incredible really if that was found to be the case. But it makes as much sense as anything. 

 

 

10 hours ago, an tha said:

 

 

It genuinely makes you wonder what type of organisation you have to be to fail the fit and proper tests. If 777 can legitimately get to buy a premier league club, who exactly can't? They look to be the most unsuitable owners of a football club even to the passing observer. 

 

38 minutes ago, AdamD said:

Approval may turn out to be a bad thing for the bloos, clearly 777 are dodgy and have their own financial and legal issues.  If 777 takeover wasn’t approved Moshiri would have to find other buyers…probably at a significantly reduced price but at least they may be more stable financially than it appears 777 are. Moshiri would lose out whereas now I guess Moshiri is getting something back?

 

 

What it does ensure is they won't go out of business at the end of the month. Once they survive this step, then it's onto the next problem. 

[Captain Turdseye]

It’s not done yet. Administration is still on the table. 
 

It’d probably be better for them in the long run than being owned by 777. 

[Barrington Womble]

9 minutes ago, Captain Turdseye said:

It’s not done yet. Administration is still on the table. 
 

It’d probably be better for them in the long run than being owned by 777. 

It'll surely go through now? 

[Captain Turdseye]

Just now, Barrington Womble said:

It'll surely go through now? 

This new news says “conditional approval”

 

Hasn’t that been the case all along? Meet these conditions. 

[Barrington Womble]

1 minute ago, Captain Turdseye said:

This new news says “conditional approval”

 

Hasn’t that been the case all along? Meet these conditions. 

Dunno, I didn't think so. 

[Captain Turdseye]

1 minute ago, Barrington Womble said:

Dunno, I didn't think so. 

Surely that’s what the ‘fit and proper’ owners test is. Prove you’ve got the money (or a chicken business) to sustain the club for three years and you’re good to go. 

[Captain Turdseye]

I’m not complaining, by the way. 
 

777 owning them will be great fun for regular readers of this thread. 

[Bourbon]

Whose fault is it anyway #7653470…

 

https://members.boardhost.com/everton-forum/msg/1711189440.html

[Reckoner]

13 minutes ago, Captain Turdseye said:

I’m not complaining, by the way. 
 

777 owning them will be great fun for regular readers of this thread. 

Which (you would hope) is the priority.

[Barrington Womble]

16 minutes ago, Captain Turdseye said:

Surely that’s what the ‘fit and proper’ owners test is. Prove you’ve got the money (or a chicken business) to sustain the club for three years and you’re good to go. 

I get that. But I think the difference now is they've shown their hand, the PL are.saying there's nothing to block, unless something else comes to light.

 

I've thought for a little while the PL don't really want to block anyone, as it's bad for business, all the clubs need buyers at some point. So when they get deals they don't want, like this and Newcastle, they buy as.much time as they can, hoping something else will block the sale, til they can't hold out any longer. I just feel that latest move is they've reached that point. 

[Jose Jones]

49 minutes ago, Barrington Womble said:

I was out with a couple of bloos yesterday and they are convinced usmanov is funding 777. Which would be incredible really if that was found to be the case. But it makes as much sense as anything. 

 

 

 

It genuinely makes you wonder what type of organisation you have to be to fail the fit and proper tests. If 777 can legitimately get to buy a premier league club, who exactly can't? They look to be the most unsuitable owners of a football club even to the passing observer. 

 

What it does ensure is they won't go out of business at the end of the month. Once they survive this step, then it's onto the next problem. 

Yeah it’s totally Usmanov funding 777, which is why Mosh has apparently turned down another, supposedly better, bid. The whole play is wait until Trump gets back in and he’ll immediately remove all sanctions against Putin and his pals.

[Captain Turdseye]

Someone posted an article on GOT about 777 owned Genoa. Apparently they’ve cut the wages to turnover ratio from 100% to 45% in two years. 
 

That’s gonna be a fun experiment in the PL. 

[Captain Turdseye]

Or the Championship. 

[DalyanPete]

3 hours ago, The wanderer said:

Kirkby blue ??

Could be, but trusted 

[Bobby Hundreds]

Having to borrow money at the rate they have they should already be in administration for living beyond their means. If Usminov is backing 777 that's next level corruption and frankly the club should disbanded as a criminal organisation. 

[AngryOfTuebrook]

2 hours ago, Ron B said:

Hypothesis*:

1/777 know they can’t afford to buy Everton.

2/777 know they can’t afford to own Everton, who are haemorrhaging money and won’t stop doing so any time soon. 
3/777 know that Morishi is desperate to sell, and that the club can barely survive from one month to the next. 
So… 777 decided to begin takeover talks, loan money at a ludicrous rate of interest so that the club can keep going whilst talks continue, with the intention of the deal never actually going ahead, before 777 get all their loans back plus a massive wad of interest. 
If that’s their play then it’s brilliant - all the benefits of owning a football club (rinsing it for cash, a degree of credibility for an iffy company) but none of the hassle of actually owning a football club. 
And of course, all the Bloos fans will blame the FA/the Premier League/Morishi/Rafa Benitez for the deal being called off, and their team’s subsequent financial meltdown, long before they get angry at 777. 

 

*Translation: Obviously I can’t prove a word of this. But hear me out anyway. 

You might be onto something there.  Maybe someone who knows more about accountancy than I do* can confirm/deny this, but I think if 777 loan Everton £180m, then that £180m plus interest shows as an asset on their balance sheet, which helps them with all the other dodgy financial plate-spinning they're doing.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

*Literally anyone.

[Scott_M]

4 hours ago, Barrington Womble said:

I was out with a couple of bloos yesterday and they are convinced usmanov is funding 777. Which would be incredible really if that was found to be the case. But it makes as much sense as anything. 

 

 

Them, not you.

[Barnesey]

2 hours ago, AngryOfTuebrook said:

You might be onto something there.  Maybe someone who knows more about accountancy than I do* can confirm/deny this, but I think if 777 loan Everton £180m, then that £180m plus interest shows as an asset on their balance sheet, which helps them with all the other dodgy financial plate-spinning they're doing.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

*Literally anyone.

The cash (if it’s still held) would be an asset. The debt is a liability. As the cash is spent the asset diminishes: the liability remains until the loan is repaid. 

[redinblack]

2 hours ago, AngryOfTuebrook said:

You might be onto something there.  Maybe someone who knows more about accountancy than I do* can confirm/deny this, but I think if 777 loan Everton £180m, then that £180m plus interest shows as an asset on their balance sheet, which helps them with all the other dodgy financial plate-spinning they're doing.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

*Literally anyone.

It's not an asset though, it's a short or long term liability in the "financed by" bit of the balance sheet. The cash from the loan is an asset in current assets, but the loan itself is a liability as it has to be repaid

 

Barnesey beat me to it

[Anubis]

Bwahahahahahahahah….

 

[AngryOfTuebrook]

4 hours ago, Barnesey said:

The cash (if it’s still held) would be an asset. The debt is a liability. As the cash is spent the asset diminishes: the liability remains until the loan is repaid. 

It'd show as a liability for Everton, but an asset for 777, wouldn't it?

[Barrington Womble]

7 hours ago, AngryOfTuebrook said:

You might be onto something there.  Maybe someone who knows more about accountancy than I do* can confirm/deny this, but I think if 777 loan Everton £180m, then that £180m plus interest shows as an asset on their balance sheet, which helps them with all the other dodgy financial plate-spinning they're doing.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

*Literally anyone.

 

The problem I think 777 have (if they're legitimate lenders/buyers) is their loans are unsecured. The loans previously provided by MSP Cap and IMR are secured and IMR also have a veto to block any change of ownership, although that would not appear to be the case here as they used that pretty quickly to block MSP's take over. I think if the club go into administration, 777 are pretty much bottom of the pile to get paid. Over recent weeks I think they've tried to bully the PL into passing the fit and proper tests by saying they would no longer provide finance to EFC. But this might not be much of a threat in reality, as if they pull the plug, they could well lose everything they've invested so far. 

[Anubis]

Josimar saying the PL have told them they’ll be approved provided they meet some very stringent conditions they’re probably unable to meet.

[Fugitive]

1 hour ago, Anubis said:

Bwahahahahahahahah….

 

 

[AngryOfTuebrook]

35 minutes ago, Fugitive said:

 

Maybe he said it when Salah was at Chelsea.