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Post by jimmy on Nov 6, 2023 10:22:18 GMT
Will be Ambani. Extremely rich business man. Wouldn't shock me if 777 sell him some shares Aren't they in the directors box at home games? That suggests it's going ahead.
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Post by halewoodblue on Nov 6, 2023 22:44:21 GMT
Will be Ambani. Extremely rich business man. Wouldn't shock me if 777 sell him some shares Aren't they in the directors box at home games? That suggests it's going ahead. Yes they were at the cup game.
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Post by rugbytoffee on Dec 12, 2023 15:54:34 GMT
Everton facing threat of administration & second points deduction as 777Partners takeover is delayed due to 'challenging' Premier League due diligence checks According to the Daily Mail, Everton's prospective buyers, 777Partners, have been informed by the Premier League that their takeover is unlikely to be approved before the end of the year. This has raised fears that Everton may enter administration next month. The American private equity firm has provided Everton with over £100 million in loans for operating costs since reaching an agreement to buy the club from Farhad Moshiri in September, but are not willing to continue pumping in funds at Goodison Park if the takeover process is not completed by the end of the year. Everton need an additional £20 million per month for staff wages and operating costs, which is beyond the scope of their fixed income. The club faces insolvency without 777's funding, potentially leading to administration and a further nine-point deduction on top of the 10 points that have already been docked. The convoluted labyrinth of 777's finances and corporate structure, which shelters over 60 companies in several sectors under their control, including insurance, aviation, and sport, is posing challenges for the Premier League in their assessment. The English top-flight is doing the arduous job of establishing the source and sufficiency of 777's funds, while also examining legal cases that have been filed against the companies in the United States. The Mail adds that Premier League are reluctant to punish Everton with a second deduction of points, as it would send the Toffees plunging back into the relegation zone. However, they won't be pressured into rushing the due diligence process either, as they believe that the job at hand is complex and requires patient handling.
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Post by rugbytoffee on Dec 12, 2023 15:57:56 GMT
Prospective Everton owners 777 Partners have responded to claims that they weren't willing to continue funding the football club beyond the end of December amid ongoing uncertainty over the approval of their takeover. A report by the Daily Mail on Tuesday had claimed that the Toffees face being at risk of administration following a delay in 777 Partners' takeover of the club. The Premier League remain some way from completing due diligence on the proposed takeover after current owner Farhad Moshiri agreed a deal in September, it has been said. It had been hoped that the takeover would be approved by Christmas but no news of completion has left supporters frustrated. 777 have loaned Everton over £100million for operating costs but have previously made it clear of their intentions not to keep the funding up after the New Year. The report states that a decision would not be made until the New Year, throwing the club into potential financial chaos. It's said that the delay in their takeover could lead to 777 Partners withdrawing their current levels of funding, potentially leading to the club entering administration. However, according to our sister title, Liverpool Echo, 777 Partners have claimed there has been no such communication from the Premier League about not receiving a decision on the takeover before the end of 2023. It is worth stating that the firm won't provide working capital indefinitely, although the current arrangement that is in place to the end of January could be extended. Since agreeing to acquire 94.1% of the Merseyside outfit, 777 Partners have faced scrutiny over the funding for the deal and where it has come from. There has also been significant doubt over the business plan moving forward after a troubling period at Goodison Park. According to Liverpool Echo, the American firm remains confident of achieving the necessary approval, although they are not privy to the current status of the decision making process or its likelihood of success, with a final decision to be communicated once all checks have been completed. 777 Partners sporting director Johannes Spors and his team were present at Goodison Park for both the wins over Newcastle United at Chelsea in the past seven days, with further dialogue held with Everton sporting director Kevin Thelwell. www.football.london/
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Post by Avinalaff on Dec 12, 2023 16:35:45 GMT
Maybe now we're playing like a proper team again, the price should go up.
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