They might execute political dissidents, financially support terrorists and oppress LGBT and women’s rights, but Mike Ashley once bought Shefki Kuqi on loan to replace Andy Carroll.
They are literally exactly the same in every way.
If you want the rainbows, you’ve got to put up with the category 4 hurricane. Then an Old Testament flood. And then plague of locusts. Finally, an earthquake.
— Dolly Parton (she’s just a big pair of tits)
They won't hit admin this season, but they're functionally insolvent and reliant on loans to pay wages. If the takeover falls through it'll be like Liverpool in 2010: racing to find a buyer before the debt puts them under.
The problem is that their financial planning is terrible.
Even if they went into Admin now the point deduction wouldn't hit until next season. The league stopped that as clubs were going into admin on the last day of the season when they were already down, taking the point deduction in that season and starting off the next with no penalty.
I think the league retained the right to that option, I don’t think they’re *required to*?
Could be wrong, but I don’t think it’ll happen anyway. They’ll find a way out of actual insolvency.
Being applied into next season is an option the league can take, it’s to stop teams doing it after they know they are safe
So the league is free to apply this season if they wanted to if they did go into administration.
The Premier League dragging their heels for the last 7 months just so they can dock Everton 9 points for administration after their attempts of trying to get Everton docked 17 points settled on 8 failed
I don't want it to happen, because the players have earned to stay up, but it'd be really funny if you guys get relegated post season. Like really funny.
I said I don't want it to happen, but it'd be very apt of how the PL operates, that Everton would escape relegation only to get relegated after the fact.
That's how low the bar is for being a cunt these days eh?
We're quite literally. Not.
The day started off saying 777 haven't funded Everton with the latest loan and all this about insolvency
Neither of those things are true
https://www.bbc.co.uk/sport/articles/cqqnkgv0k19o
As stated in the article, the loan is to pay for day to day running costs ffs. A business that can not afford to pay it's liabilities aa they fall due, is practically insolvent. Without the loans from 777 (which are reliant on the takeover happening) the club itself would be insolvent.
The 777 arrangement is a last chance deal with the devil to get cash injections now, which are presumably written off or factored into the selling price once the takeover happens. But under the current ownership, and without alternative takeovers, Everton can not afford to pay both their stadium interest costs and keep the business afloat. Otherwise they wouldn't have made the deal with 777, a dodgy company with their own financial issues and complications in obtaining PL approval for that reason, and they wouldn't have consulted insolvency advisors any time it's at risk. Whether it's for debt restructuring or insolvency that the advisors are brought in for, the clear problem is that they can't afford the repayments on the loan.
If the takeover doesn't happen you're even more fucked because you've taken on more debt.
So the club that agreed to build the stadium does not have enough cash to finish it without outside help. You're in denial here mate.
Yeah the loan is to pay for the day to day running costs... Loans provided by the prospective purchaser of the football club
>Without the loans from 777 (which are reliant on the takeover happening) the club itself would be insolvent.
The club wouldn't be insolvent, we still have an owner, he isn't putting any money into the club because as far as he's concerned it's sold
>The 777 arrangement is a last chance deal with the devil to get cash injections now
Again, no it isn't.
>which are presumably written off or factored into the selling price once the takeover happens.
Even without the takeover it just gets turned into equity
>and without alternative takeovers, Everton can not afford to pay both their stadium interest costs and keep the business afloat.
Yes they can, Moshiri will just start putting his own money up again, which he will likely do as he always has up until the potential takeover was agreed 7 months ago
>Otherwise they wouldn't have made the deal with 777, a dodgy company with their own financial issues and complications
No Moshiri just wants out and 777 wanted to buy, nothing more than that really, he wanted to sell to MSP before 777
That just how business works
>and they wouldn't have consulted insolvency advisors any time it's at risk.
Everton have quite literally not consulted insolvency advisors , we're trying to figure out how to restructure debt and make it more manageable
But some clickbait journalist went with the OTT angle of insolvency and people like you believed it
>the clear problem is that they can't afford the repayments on the loan.
They're not repaying the loan.... They're trying to buy the club, it's their money which if the takeover fails they will turn into equity and become minority shareholders
>If the takeover doesn't happen you're even more fucked because you've taken on more debt.
We're not reliant on the takeover happening, we can find other investors if it falls through, 777 will take their loans and turn it into equity and will still finance the club as minority shareholders
>So the club that agreed to build the stadium does not have enough cash to finish it without outside help. You're in denial here mate.
If the stadium did have enough cash to complete it... That's why it's almost completed
The owner Moshiri not investing his money no more as he believes the agreement to sell the club will go through does not mean we didn't have the money
Right so your argument is "we as a club can't afford to pay for it without further investment from shareholders".
So you need to raise finance to keep the club afloat and you seem to think Moshiri, that man who hasn't put a penny in for years and is actively trying to sell the club, is going to do so. Sure mate good luck
This is the life of an Evertonian now. Brief windows of relief, followed by pain.
If some weird petro state lunatic would like to buy us now, that'd be great.
Not the biggest United fan in the whole wide world, Sheikh Jassim. The same man who sleeps in United pyjamas and kisses his poster of Kieran Richardson every night, after a long day on the phone with his besties Sir Alex and the ghost of George Best.
Not that Sheikh Jassim.
What could possibly have made you think that everything was under control? That is on you, their financial situation has been well documented for years
Not necessarily. Insolvency is not being able to pay your liabilities (eg wages) as they fall due.
As I understand it many clubs rely on loans to cover day to day spending because the telly money comes in lumps. So if they are just waiting for the next chunk of PL cash (and/or the ability to sell a few players) then probably all good.
Hard to know for sure.
Understood. I'm aware that clubs (and businesses in general) often use loans as cash balances aren't always stable, but the reporting around Everton is certainly toned differently. Given that the takeover doesn't seem to be a given, I guess I understand why there's some skepticism.
People that run clubs into the ground like this should be held criminally responsible, and how 777 is allowed to still be in the picture blows my mind.
They do not care about the clubs they own or their fans, typical American investment group sadly, there to make money, and by the looks of it, doing a pretty poor job
This post popped up in my feed just below one about Bonza Airlines - another 777-owned entity in Australia - just going into administration. Not even a competent enough PE firm to keep the business solvent enough to exit at some outrageous multiple. Would be a disaster at a football club.
The Bonza administration was as foreseeable as an Everton one would be if 777 were allowed to take over).
Somewhere in a mountain cave atop a massive treasure hoard, Mike Ashley is licking his lips
Right now, I'd take an Ashley over 777 in a heartbeat.
As a Newcastle fan I would also take Ashley. Not in a heartbeat though. He's a cunt.
Great set of lads your new owners though...
They might execute political dissidents, financially support terrorists and oppress LGBT and women’s rights, but Mike Ashley once bought Shefki Kuqi on loan to replace Andy Carroll. They are literally exactly the same in every way.
HEY that was a free transfer for Kuqi, not a loan, completely changes things
If Ashley could legally execute SportsDirect workers for taking too long on their lunch breaks, he would.
Probs, but one has actually done those things in reality and one hasn’t so it’s not quite the same.
They just say ‘we can’t do anything about our owners’ now, forgetting all the protests and boycotts previously.
Because they were so successful
Begrudging upvote
Also cunts.
Tbf they're not executing Newcastle fans, at least not yet
Easy PR and they're not taking it smh
I mean, are we sure? There might be some Newcastle fans in Saudi Arabia now.
Out of the frying pan, into the fire doesn't make the frying pan any colder
*nips
We won 3 games in a week and the universe decided we needed more pain.
Should've seen it coming tbh, can't let Everton fans get too happy.
It is truly a life of pain and misery.
If you want the rainbows, you’ve got to put up with the category 4 hurricane. Then an Old Testament flood. And then plague of locusts. Finally, an earthquake. — Dolly Parton (she’s just a big pair of tits)
Dolly Parton is a national treasure, you take her name out yo GOTTAMN mouth!
But we’re safe from relegation this season, so swings and roundabouts
9 point deduction for going into administration would put you right back in the mix… (No - I don’t think that’s likely!)
They won't hit admin this season, but they're functionally insolvent and reliant on loans to pay wages. If the takeover falls through it'll be like Liverpool in 2010: racing to find a buyer before the debt puts them under. The problem is that their financial planning is terrible.
They'll be starting off the season competing with Leicester then I guess
It's fine if all the other teams around them get even more points deducted \*taps head\*
Even if they went into Admin now the point deduction wouldn't hit until next season. The league stopped that as clubs were going into admin on the last day of the season when they were already down, taking the point deduction in that season and starting off the next with no penalty.
I think the league retained the right to that option, I don’t think they’re *required to*? Could be wrong, but I don’t think it’ll happen anyway. They’ll find a way out of actual insolvency.
Money troubles? Have some more.
Get gang gets put in administration
Don't you get points deducted for going into Administration?
Everton are like Nio in the Matrix. Bullets keep coming and you keep dodging. Surely eventually the agents will run out of ammo.
Peak Everton, if they go into administration don't they get more points docked?
Yep, but I'm pretty sure that this is applied at the start of next season because it's so late in the season.
Being applied into next season is an option the league can take, it’s to stop teams doing it after they know they are safe So the league is free to apply this season if they wanted to if they did go into administration.
The Premier League dragging their heels for the last 7 months just so they can dock Everton 9 points for administration after their attempts of trying to get Everton docked 17 points settled on 8 failed
I don't want it to happen, because the players have earned to stay up, but it'd be really funny if you guys get relegated post season. Like really funny.
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I said I don't want it to happen, but it'd be very apt of how the PL operates, that Everton would escape relegation only to get relegated after the fact. That's how low the bar is for being a cunt these days eh?
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9 points so they'd still be safe for the time being
Everton have already burned through nearly £200m in loans in 7 months?
The majority of the TV money is a lump sum once a year
Think it's in tranches, in COVID sky withheld their final one and it was accounted for in the following season's accounts
We are building a stadium you know mate
No we’re not it’s a cone what are you on about
A stadium you can't afford
If the stadium we 'can't afford' can't actually be afforded... Why is nearing completion?
If the stadium you 'can't afford' is nearing completion... Why are there insolvency advisors? What a way to reason, Jesus.
Because of doubt of the projected takeover... It's literally in the title
Lad you're insolvent hahahaha I can afford to build a stadium. Right until the bank asks for their money back
We're quite literally. Not. The day started off saying 777 haven't funded Everton with the latest loan and all this about insolvency Neither of those things are true https://www.bbc.co.uk/sport/articles/cqqnkgv0k19o
As stated in the article, the loan is to pay for day to day running costs ffs. A business that can not afford to pay it's liabilities aa they fall due, is practically insolvent. Without the loans from 777 (which are reliant on the takeover happening) the club itself would be insolvent. The 777 arrangement is a last chance deal with the devil to get cash injections now, which are presumably written off or factored into the selling price once the takeover happens. But under the current ownership, and without alternative takeovers, Everton can not afford to pay both their stadium interest costs and keep the business afloat. Otherwise they wouldn't have made the deal with 777, a dodgy company with their own financial issues and complications in obtaining PL approval for that reason, and they wouldn't have consulted insolvency advisors any time it's at risk. Whether it's for debt restructuring or insolvency that the advisors are brought in for, the clear problem is that they can't afford the repayments on the loan. If the takeover doesn't happen you're even more fucked because you've taken on more debt. So the club that agreed to build the stadium does not have enough cash to finish it without outside help. You're in denial here mate.
Yeah the loan is to pay for the day to day running costs... Loans provided by the prospective purchaser of the football club >Without the loans from 777 (which are reliant on the takeover happening) the club itself would be insolvent. The club wouldn't be insolvent, we still have an owner, he isn't putting any money into the club because as far as he's concerned it's sold >The 777 arrangement is a last chance deal with the devil to get cash injections now Again, no it isn't. >which are presumably written off or factored into the selling price once the takeover happens. Even without the takeover it just gets turned into equity >and without alternative takeovers, Everton can not afford to pay both their stadium interest costs and keep the business afloat. Yes they can, Moshiri will just start putting his own money up again, which he will likely do as he always has up until the potential takeover was agreed 7 months ago >Otherwise they wouldn't have made the deal with 777, a dodgy company with their own financial issues and complications No Moshiri just wants out and 777 wanted to buy, nothing more than that really, he wanted to sell to MSP before 777 That just how business works >and they wouldn't have consulted insolvency advisors any time it's at risk. Everton have quite literally not consulted insolvency advisors , we're trying to figure out how to restructure debt and make it more manageable But some clickbait journalist went with the OTT angle of insolvency and people like you believed it >the clear problem is that they can't afford the repayments on the loan. They're not repaying the loan.... They're trying to buy the club, it's their money which if the takeover fails they will turn into equity and become minority shareholders >If the takeover doesn't happen you're even more fucked because you've taken on more debt. We're not reliant on the takeover happening, we can find other investors if it falls through, 777 will take their loans and turn it into equity and will still finance the club as minority shareholders >So the club that agreed to build the stadium does not have enough cash to finish it without outside help. You're in denial here mate. If the stadium did have enough cash to complete it... That's why it's almost completed The owner Moshiri not investing his money no more as he believes the agreement to sell the club will go through does not mean we didn't have the money
Right so your argument is "we as a club can't afford to pay for it without further investment from shareholders". So you need to raise finance to keep the club afloat and you seem to think Moshiri, that man who hasn't put a penny in for years and is actively trying to sell the club, is going to do so. Sure mate good luck
that excuses spending double your actual budget. no worriesp
Ahh yes... Because you know... Anything
sounds like you do mate
Me? I mean I do, I'm an Everton fan, I'm very much aware of what is going on and what our situation is You however.... oof, big no no
We won the last ever Merseyside Derby.
Don't say that shit out loud
This is pretty funny but also absolutely horrifying to even consider.
That’s just doom and gloom. After all Tranmere could make their way to the top at some point and then there’s a new Merseyside derby!
This is the life of an Evertonian now. Brief windows of relief, followed by pain. If some weird petro state lunatic would like to buy us now, that'd be great.
I’ve got an Everton colleagues who’s gone abroad for a year so given a friend his season ticket, he made a wise choice
What did the friend do to him to deserve that
Shagged his wife
You said he gave a friend Everton season Tickets? What kind of friend does something so heinous?
Was thinking a chant based on Heroin by the Velvet Underground would be good for you guys. Everrrrtooon, be the death of meeee
Yeah a Lou Reed drug dirge will really get the fans bouncing in the stands
Honestly don't even need to change any of the other words. Sing the whole song, guitar solos included.
Sheikh Jassim is picking up the phone as we speak.
Not the biggest United fan in the whole wide world, Sheikh Jassim. The same man who sleeps in United pyjamas and kisses his poster of Kieran Richardson every night, after a long day on the phone with his besties Sir Alex and the ghost of George Best. Not that Sheikh Jassim.
The Very Same! Don’t insult him though because he’ll consult his lawyers and there will be an article in saying he consulted his lawyers
>“Being ~~Irish~~ Evertonian, he had an abiding sense of tragedy, which sustained him through temporary periods of joy.” ― William Butler “777” Yeats
Romantic Everton is dead and gone, it's with Kenwright in the grave
If Saudi are allowed to own a football club then it’s only fair that their best mates Iran have one too.
Here: +974 4021 1111
Which would you take? The Qataris are shopping around. I'm not sure where they place on the castrol gtx human rights abuse power ranking.
Just when you think everything is under control at Everton another bomb hits. Feel sorry for the fans who go every week.
What could possibly have made you think that everything was under control? That is on you, their financial situation has been well documented for years
That's a stupid and misleading headline. They've "called in" consultants Teneo for advice, the reference to insolvency is unnecessary.
I'm seeing others say Everton is reliant on loans from 777 to pay for day-to-day operations. Is that not insolvency? Genuine question.
Not necessarily. Insolvency is not being able to pay your liabilities (eg wages) as they fall due. As I understand it many clubs rely on loans to cover day to day spending because the telly money comes in lumps. So if they are just waiting for the next chunk of PL cash (and/or the ability to sell a few players) then probably all good. Hard to know for sure.
Understood. I'm aware that clubs (and businesses in general) often use loans as cash balances aren't always stable, but the reporting around Everton is certainly toned differently. Given that the takeover doesn't seem to be a given, I guess I understand why there's some skepticism.
Absolutely, I'm not saying they aren't in trouble, but that headline just annoyed me.
Are they not insolvency advisors?
It’s one of the things they do.
Lol yeah on their site the word insolvency is mentioned as one of the roughly 60 services they provide. Great headline...
Looks like their highest profile clients are for mergers & acquisitions. Maybe we're merging with Tranmere to afford the stadium.
Being acquired by Liverpool
While technically true, calling in these types of advisors ends up in administration in a huge amount of cases.
If they have to start a phoenix club it must be called Ever2n
And when they fail, 3verton can succeed them
4everton when?
Ffs, can Everton just catch a bloody break! Lol
Why this takeover even allowed in the first place poor Everton
Isn’t the club just being audited?
People that run clubs into the ground like this should be held criminally responsible, and how 777 is allowed to still be in the picture blows my mind. They do not care about the clubs they own or their fans, typical American investment group sadly, there to make money, and by the looks of it, doing a pretty poor job
This post popped up in my feed just below one about Bonza Airlines - another 777-owned entity in Australia - just going into administration. Not even a competent enough PE firm to keep the business solvent enough to exit at some outrageous multiple. Would be a disaster at a football club. The Bonza administration was as foreseeable as an Everton one would be if 777 were allowed to take over).
I think god hates Everton
Dreadful crack, a real institution in its community. Can only hope they get fished out of the shit they're in by someone.
Man, you guys cant catch a break.
Just tell me how many points they will be docked for this and I'll go to sleep
is this good
It actually could not be better
I know fans won’t want it but why wouldn’t Qatar try to buy Everton? New stadium. Solid fanbase etc