Everton to lose more points?

[Corway]

Scottish Daily Mail says EPL won’t approve 777 takeover until the new year. This could lead to them going into administration and loss of 9 points it says.

That could impact our negotiated settlement

[bumba]

Personally still don't see Everton going down even if they got deducted another 9 points

[bfcjg]

I agree, they are a good team under Dyche.
Hope they avoid administration not for them but for the local suppliers of goods and services plus the builders, the footballers will be OK, though, as always.

[Quickenthetempo]

If Everton went bust because of the Premier league delays, then Everton would sue the Premier league.

It's all going to end in tears this money grabbing league.

[NewClaret]

I was reading about that 777 partners. It seems a bit unclear what they own and a complex business structure with 60 companies involved. Seems a bit dodgy, especially as their other football investments seem to be going badly.

On top of that they’re funding them to the tune of £20m
a month at the moment. Assuming they take over, are they going to keep throwing that at them every month or take them in to admin anyway and try to restructure the debts? As others have said, it’s probably the only year they could do it and not get relegated!

I sense they’re in a bit of bother one way or other. Everton fans see them as the saviours at the moment but I think that’ll soon wash off.

[Burnley1989]

Personally still don't see Everton going down even if they got deducted another 9 points

Me neither

[Paul Waine]

If 777 is lending Everton £20 million a month does that suggest Everton are losing £240 million a year, or is some of this money needed to fund the new stadium build?

[theduke]

Everton won't be going into admin. The 20m a month 'to keep the lights on' is rubbish and the journos printing that seem to not understand they are building a stadium WITHOUT external funding.

777 would turn the loans into equity, its a normal business purchase model. Plus they have multiple saleable assets they could sell before admin was a threat.

And their Billionaire owner would stand to lose everything, so he'd have to start putting his own cash in until a sale went through

[CrosspoolClarets]

Everton are a club whose ground must be coated in Teflon - nothing sticks to them, for decades they have got away with one thing after another, like bad managers, bad owners and mercenary players. They couldn’t go down if I were in charge, its against the laws of nature.

Most likely the takeover will go through, the punishment will drop to 6 points, and Dyche will finish mid table. Next year Dyche will get in trouble with the new board over his pragmatic style, the entitled fans will turn, and the crazy Everton cycle will continue.

[Chester Perry]

Everton won't be going into admin. The 20m a month 'to keep the lights on' is rubbish and the journos printing that seem to not understand they are building a stadium WITHOUT external funding.

777 would turn the loans into equity, its a normal business purchase model. Plus they have multiple saleable assets they could sell before admin was a threat.

And their Billionaire owner would stand to lose everything, so he'd have to start putting his own cash in until a sale went through

you do realise the £20m a month is unsecured against any club asset, whatever its purpose (and I tend to agree it is largely going to fund the stadium build. They may have a security agreement with the owner.

Rights and Media funding (loan value circa £200m) have Charges against all Everton assets (apart from the new stadium) followed by Metrobank (£20m overdraft)

MSP Partners have charges against the new stadium company for around £140m

there is nothing likely available to 777 Partners who fall behind HMRC and join the same queue as the programme printers and pie makers

As for the equity to shares conversion, isn't that subject to Premier league Owners and Directors Test approval of the takeover? Even if we consider a takeover refusal from the Premier League £100m is probably worth at least 25% of Everton in those circumstances, and probably more, which is the new threshold that the Premier League would have to get involved with the Owners and Directors Test and we get to the same answer

Premier League clubs approve changes to Owners’ and Directors’ Test
https://archive.ph/OdE7F

[theduke]

EVerton is worth far more than 400m. The reason MSP didn't take over was because RMF rejected it as the value was too low.

Next season (Presuming Everton stay up), Everton will be a prem league club, with a shiny new stadium. They will be worth a fortune, as Moshiri knows.
The consparicy theory is that Moshiri has basically lied to 777, knowing full well they wouldn't pass the test which has given him access to 0% loans to finish the stadium. He will then sell Everton at a far increased $$$ because of the stadium.

If 777 falls through, there will be a long list of people wanting to buy one of the biggest clubs in the richest league in the world that has a potentially the best stadium in the league.

[theduke]

and no, 777 can take a minority stake in the club without needing to pass a test, only if they want to be on the board of directors. They'd pass that anyway... Josh Wander has been voted onto the European Football board recently

[bumba]

Me neither

It'll be pretty embarrassing if they had 19 points deducted and we still went down

[DAVETHEVICAR]

Not really- If City Arsenal or Liverpool had 40 points deduction they would still finish above us

[ClaretPete001]

Why would a Billionaire allow an asset worth 100s of millions go into administration?

[NewClaret]

Why would a Billionaire allow an asset worth 100s of millions go into administration?

Because he’s unable or willing to fund its £20m cash flow requirements after the collapse of his Russian business interests value?

[GodIsADeeJay81]

Because he’s unable or willing to fund its £20m cash flow requirements after the collapse of his Russian business interests value?

Didn’t he borrow money in the first place from that former Arsenal shareholder?

[NewClaret]

Didn’t he borrow money in the first place from that former Arsenal shareholder?

Tbh mate, I’ve not really been following it but I think that him & Usmanov were originally shareholders in Arsenal and then sold to buy Everton.

I have nothing to substantiate this but way I’ve always seen it as Usmanov has the money and he has British Citizenship. I reckon it was Russian money behind the original takeover and what was backing the whole investment. Or at least it’s a massive coincidence that the money has dried up since the Russian war kicked off and sanctions hit.

On Moshiri I read somewhere he was a senior manager at Deloitte until the 90s which is a well paid but not extraordinarily paid role. So to become a billionaire from scratch in 20 or so years is either extremely fortunate or dodgy imo.

[yTib]

if everton lose more points then surely man city, liverpool, chelsea et al should also be punished.

or do they just have a better legal team?

[claretburns]

if everton lose more points then surely man city, liverpool, chelsea et al should also be punished.

or do they just have a better legal team?

Chelsea and City being under investigation is known, but are Liverpool too? Not seen that reported unless it is from a couple of years ago and just gone quiet?

[NewClaret]

if everton lose more points then surely man city, liverpool, chelsea et al should also be punished.

or do they just have a better legal team?

The additional points they’d lose are in respect to the automatic points deduction if they fall in to administration, nothing to do with penalties imposed for breaking (other) rules.

[bumba]

if everton lose more points then surely man city, liverpool, chelsea et al should also be punished.

or do they just have a better legal team?

I don't think Liverpool are under investigation for anything, people always bring up the money they spent on Van Dijk and Allison but it was funded by the Coutinho sale.
The main reason Liverpool have struggled to stay competing year on year with City is due to the finances City have compared to Liverpool

[theduke]

Didn’t he borrow money in the first place from that former Arsenal shareholder?

No. Moshiri is a billionaire in his own right. The only money from usmanov was the sponsorship of the training ground and the £30m naming rights first dibs for the stadium.

I've no doubt the full aim was for usmanov to get involved at some point though.

Which could have been fortunate for them if it had happened as they've have been taken into public ownership like chelsea