Rumour Mill 777 Partners could have their assets in Belgium seized amid problems at Standard Liege Rumour Mill Swap deal mooted with Maguire in part-exchange for Branthwaite Everton U18s lose to Man Utd at Carrington 777 Partners accused of fraud in US lawsuit Howard lauds Everton and Moyes in HoF speech Everton earn a draw to keep Luton in relegation danger 777 Partners reportedly seeking funds from new private equity firm Dyche and Pickford nominated for monthly awards
Red Tiger telah berdedikasi dalam menciptakan game slot terbaik di market sekarang ini. Setiap harinya saja Red Tiger berkembang untuk berinovasi dan menjadi lebih baik lagi. Inovasi yang dimiliki oleh Red Tiger begitu menakjubkan serta tujuannya pun jelas.
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Red Tiger is a popular online gaming provider known for its high-quality and innovative slot games. With a team of experienced developers and designers, Red Tiger has consistently delivered captivating and visually stunning games that have captured the hearts of players around the world. One of the most notable features of Red Tiger's games is their use of cutting-edge technology, which allows for seamless gameplay and immersive experiences. In addition to their impressive game selection, Red Tiger also offers various bonuses and promotions to keep players engaged and rewarded. Overall, Red Tiger has established itself as a leading provider in the online gaming industry, and continues to push the boundaries of what is possible in the world of virtual entertainment.
Renowned for its exceptional slot games, Red Tiger has become a highly sought-after online gaming provider. With a team of seasoned developers and designers, Red Tiger consistently delivers enthralling and visually striking games that have captured the attention of players worldwide. One of the standout qualities of Red Tiger's games is their use of state-of-the-art technology, which provides a seamless and immersive gaming experience. Along with their impressive game selection, Red Tiger also offers a variety of bonuses and promotions to keep players engaged and rewarded. Overall, Red Tiger has solidified its position as a top provider in the online gaming industry, continuously pushing the boundaries of virtual entertainment.## Next on Thursday, May 9
n
Thursday, May 9 is just around the corner and it is already shaping up to be an eventful day. With so much happening around the world, it's important to stay informed and keep an eye on the news. From politics to entertainment, there is always something going on that captures our attention and sparks discussions. On Thursday, May 9, we can expect to see a variety of events and stories unfold, making it a day to mark on our calendars. Whether it's through traditional news outlets or social media, we can stay connected and up-to-date on all the happenings of this highly anticipated day. So get ready for May 9, because it's going to be a day to remember.## Recent Articles
The latest re Everton, 777 Partners and Moshiri. What needs to be done immediately following Leadenhall accusations
Paul The Esk
Match Report
My Day Trip to Luton
Danny O’Neill
Match Report
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Everton History
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Pld
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12 Wolves 36 -11 46 13 Fulham 36 -4 44 14 Crystal Palace 35 -12 40 15 Everton* 36 -11 37 16 Brentford 36 -8 36 17 Nottingham Forest† 36 -18 29 18 Luton Town 36 -29 26
edit A Boeing 737 MAX operated by Bonza, at Melbourne Airport 777 owns Canadian company Flair Airlines and Australian-based Bonza, both of which are low-cost carriers.[1]22 In June 2022, the Canadian Transportation Agency ruled that Flair is a Canadian airline and can fly domestically, as 777 owns 25% of the shares and had limited its influence on the board since the beginning of the CTA investigation.23 On March 11, 2023, Airborne Capital Ltd. seized four of its planes operated by Flair over alleged non-payment. In a press conference, Flair CEO Stephen Jones suggested the seizures were motivated by competitors, and that the airline owed around US$1 million on the leases, and was in the process of making payment when the seizures occurred.[24]25 The lessor, Airborne alleged that Flair had repeatedly missed payments amounting to several millions of dollars over a period of five months. Flair used other aircraft to continue to operate its schedule.26 In January 2024, it was reported that the lessors had filed claims at the UK High Court for costs and that there had been outstanding payments of $1.8 million on the four aircraft when notice of default was served.27 On April 30, 2024, Bonza entered voluntary administration with all services suspended after the repossession of its fleet.28
n Industry: Challenges and Opportunities
The aviation industry has always been a dynamic and fast-paced sector, constantly evolving and facing new challenges. In recent years, the industry has been hit hard by the global economic downturn, rising fuel costs, and increased competition. However, despite these challenges, the aviation industry also presents many opportunities for growth and innovation.
One of the main challenges facing the aviation industry is the ever-increasing cost of fuel. With the majority of airlines operating on thin profit margins, the rising cost of fuel has put a strain on their financial stability. This has forced airlines to make difficult decisions, such as cutting routes, reducing services, and increasing ticket prices. In addition, the industry has also faced challenges in terms of safety and security, with the threat of terrorism and accidents posing a constant risk.
The global economic downturn has also had a significant impact on the aviation industry. As people become more cautious with their spending, air travel has been seen as a luxury rather than a necessity. This has resulted in a decrease in demand for air travel, leading to a decrease in revenue for airlines. In order to survive, airlines have had to find ways to reduce costs and become more efficient, often resulting in job cuts and reduced services.
Despite these challenges, the aviation industry also presents numerous opportunities for growth and innovation. One of the key opportunities lies in the growing demand for air travel in emerging markets. As countries such as China and India continue to experience economic growth, there is a significant increase in the number of people who can afford to travel by air. This presents a huge potential market for airlines to tap into and expand their customer base.
Moreover, advancements in technology have also opened up opportunities for the aviation industry. With the development of more fuel-efficient aircraft, airlines can reduce their operating costs and mitigate the impact of rising fuel prices. In addition, technology has also improved the safety and security of air travel, providing passengers with a more comfortable and secure experience.
Furthermore, the rise of low-cost carriers has also created opportunities for the aviation industry. These budget airlines offer affordable air travel options for price-sensitive consumers, increasing accessibility and expanding the market. This has also led to increased competition, forcing traditional airlines to become more competitive in terms of pricing and services.
The aviation industry has also been presented with opportunities for sustainability. With the growing awareness of climate change and the impact of air travel on the environment, there has been a push towards more eco-friendly practices in the industry. This has led to the development of biofuels and other sustainable solutions, providing an opportunity for the industry to reduce its carbon footprint and become more environmentally friendly.
In conclusion, while the aviation industry faces numerous challenges, it also presents a multitude of opportunities for growth and innovation. With advancements in technology, emerging markets, and a focus on sustainability, the industry has the potential to overcome its challenges and continue to thrive in the future. It is up to airlines and industry leaders to adapt and embrace these opportunities in order to ensure the success and sustainability of the aviation industry.## Saturday, May 11
Bernard Hill, RIP
Premier League — Matchweek 36
Michael Kenrick
Talking Points
Just Saying
David Peate
Premier League — Matchweek 35
Michael Kenrick
Talking Points
The other 14
Rob Dolby
Premier League — Matchweek 34 continued…
Michael Kenrick
Paul The Esk 05 May 2024 33comments (last) The startling submission, accusations and evidence submitted to the United States District Court, Southern District of New York, by UK-based Leadenhall Capital (and others) against Josh Wander, Steve Pasko, Kenneth King, 777 Partners, A-Cap (and others) on the 3 May 2024 provide perhaps the most compelling evidence yet of what many, including myself, have suspected. Namely that 777 Partners and A-Cap, in their various forms and through the actions of their principals, Wander, King and Pasko, are less than the sum of their parts. Months of research provides mountains of fact-based evidence of questionable business practices, the most bizarre of financing arrangements, and a huge inter-dependency between King and Wander in particular, to keep their failing enterprises functioning. The submitted Court papers are available here: Leadenhall Capital Partners LLP (& others) v Wander, Pasko, King, 777 Partners A-Cap (& others) What started as a desire to understand the would-be owners of Everton Football Club has grown into a multiple media, regulatory and more, examination initially of their multi-club model and its finances, to one that includes airlines, aircraft leasing, institutional lending and investing plus, perhaps most sadly, the future security of clients of several insurers and re-insurers in the United States and Bermuda particularly.
Article continues below video content
The significance of this funding model, business practices and seeming regulatory ignorance will reshape the US insurance market and its relationship with private equity and offshore re-insurers. Closer to home, from football’s perspective, it will shine light on many other private equity funded football acquisitions and the growth (abuse?) of the multi-club model.
Everton’s non-response
Despite the huge significance of the above, a significance which grows with each passing news article, Moshiri, and de facto, Everton, have remained tight-lipped.
Throughout this huge piece of work undertaken by football fans, journalists, regulators and now the US Courts, there has remained a small number of constants. From an Everton perspective, they are Moshiri’s insistence that 777 Partners collectively remain suitable and appropriate purchasers of his shares, and Everton Football Club’s continued silence regarding the takeover, the impact the delay has had on the club, and the alternative strategies or choices when the 777 bid ultimately fails.
For Evertonians, this is the really important topic. Our seemingly non-functioning board provides no reassurance to fans, stakeholders and commercial partners. Not only that but there is no justification for their choice other than the shortest of (non-evidence-backed) explanations back in September 2023.
Moshiri, as owner, has all but disappeared. He communicates sporadically with a small number of media contacts via his PR Company, trotting out the same mantra that everything will be fine. Indeed, echoing the words of Josh Wander and his PR company, never fully explaining the delays but promising a solution in the near future.
What sort of way is that to run a football club? What sort of way is that to treat fans? What sort of way is that to treat employees, commercial partners and others? How can one (Moshiri) be so contemptuous of those whose lives this impacts most of all?
What sort of person forces communications staff to feed media and fans alike a narrative that daily and with growing evidence becomes less and less credible?
What sort of person puts his manager and players through all the machinations of this season, whilst ultimately knowing his chosen solution will never come to fruition?
What sort of person forces individuals to compromise their careers and probably their own integrity whilst in the employment of Everton to cover for his 8 years of ineptness, and his greatest folly, his choice of 777 Partners?
Somebody at Everton has to burst this Moshiri-induced narrative, that the current situation will be resolved successfully, and that 777 have a viable future ahead for themselves but specifically, for Everton. That is clearly not the case. We, as a club, have to rise from this sense of denial and face the reality of the situation. We need leadership from within either to promote alternatives or accept reality.
The reality of continuing down this path is administration – 777’s failure to complete (which should have been recognised 8 months ago) and the inability to continue funding losses and capital expenditure has only one outcome unless a solution is permitted to enter.
The audited accounts pointed in the gravest manner as to the risks ahead for Everton, and that was on the basis of a successful takeover by a solvent, funded and credible acquirer, assumed to be completed in “early 2024”. That is clearly not the case, nor ever will be if 777 Partners remain in the frame.
What are the alternatives?
(i) Moshiri allows the creditors to restructure the club’s finances, form a functioning board and allow other investors to acquire a going concern;
(ii) The club enters administration as funding and perhaps creditor support ceases.
With regards to (i), this is a viable option. Without entering into details, options are available; however, it requires Moshiri to recognise this as the only viable, non-administration option. It would allow sensible debt restructuring and the introduction of the fabled investors “waiting in the wings”. It is an option though that becomes less viable and more expensive as time goes by. There has always (in my mind) been an urgency to this, that urgency has increased many times over in recent days.
777 Partners and associated parties
The civil case brought about by Leadenhall Capital has huge significance. It is, of course, a series of allegations albeit backed by evidence provided by Wander himself via recorded, verbal confessions. I do not wish to prejudice the case. In a sense, the existence of this civil case and its allegations, plus other accusations and investigations elsewhere, provide the background by which it is impossible to see 777’s survival and perhaps even that of A-Cap, the insurer, regardless.
The bringing to Court by Leadenhall of allegations of double pledging assets used as security will have every other lender to 777 Partners et al scrambling to ascertain the status of their security arrangements. The public assertion that each of 777’s assets are ultimately pledged to A-Cap renders (if wholly accurate) all other security arrangements worthless.
At best, it stops instantly all future funding; at worst, lenders will attempt to call in their loans. 777 Partners do not have the liquidity to satisfy such demands, nor do their underlying investments have ready buyers. Most investments are illiquid, under- or non-performing, and worth much less than the value booked on the balance sheets.
If, as the Court documents suggest, ultimately A-Cap hold all the security, they, by regulatory pressure at least, will be forced sellers of 777’s assets and face all the liquidity and valuation issues described above. In reality, given their current regulatory status, this decision will be taken out of the hands of Kenneth King (CEO of A-Cap) and placed in the hands of the State regulatory administrators.
It is a particularly grim scenario, particularly if as would seem likely, A-Cap’s live insurers would have to cease writing new business, there would be significant asset write-downs, and no doubt, further rating write-downs.
As is already evidenced by the administration of Bonza, the sale of its Flair shareholding, and the disposal of their airplane leasing business, AIP, to A-Cap, 777 Partners were finding it incredibly difficult to operate. It’s widely acknowledged within the football world that 777’s other football clubs are available for sale.
As has been well documented throughout, even before this crisis, 777 faced huge problems, cash negative, under- or non-performing assets, and denied access to new lending sources. Now, the scene looks even worse, and there can be no viable prospect of their business surviving (in my opinion).
What happens to Everton’s debt to 777 Partners?
Clearly, if 777 Partners or possibly A-Cap are in a default position, their administrators would look to recover from their debtors. Everton’s debt to 777 Partners ranks the least senior of the secured creditors – football creditors, MSP, Metro Bank and Rights & Media Funding all ranking above them. The prospects of full recovery are therefore slight.
What recourse 777 Partners (or their administrators) have is entirely dependent upon the various loan agreements in place. It’s a much greater problem for 777 than Everton. However, it clearly cuts off any additional funding to Everton.
Hence Everton will have to find alternatives very quickly, whether they be Moshiri, existing lenders or potential investors. The opening of the transfer window next month would (however regrettably) provide a backstop – not that we want to get to that point.
Back to Moshiri
Everton were not in a clean bill of health when acquired by Moshiri in 2016; however, it is obvious to all how much the club's circumstances have deteriorated despite the ongoing stadium build ( – if being generous).
Moshiri’s misjudgements have been colossal – in every area he has touched. None more so than his choice of 777 Partners as potential, would-be purchasers. Every Evertonian, the Fan Advisory Board, the EFCSA, local and national politicians have to make it clear that his involvement is no longer welcome, that his judgement is so unsound as to not be trusted in any future decision over the club.
An interim, genuine management board has to be put in place immediately. People experienced and versed in corporate recovery, seeing off the threat of administration if possible, restructuring the company to sell to sensible, well-funded purchasers. Otherwise, it falls into the hands of administrators and all the pain that that brings.
There can be no more advocating for Moshiri, nor any advocating for his choice of 777 Partners. All of us, from matchgoing fans, more distant Blues, through to nationally recognised politicians, have to step in and ensure our rescue. It should have happened months ago; it didn’t, but it must now.
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Reader Comments (33)
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Peter Hodgson
1 Posted
05/05/2024 at
20:59:56
Okay so most readers will accept that the Esk doesn't, and never has, liked 777 and so therefore may read this piece as him having another go at 777. That may be so but it shouldn't deflect from the essential message that the piece is shouting, as long as we look at it with our eyes very much open.We are really in the mire if all this current act of the circus is happening. If his speculation is accurate the 777 house of cards is not going to set tumbling by the Premier League but by someone in the States. Can we withstand that happening without having a back stop in place? Unlikely.The other question that springs to mind is, did Moshiri see (or have inside information about it) that prompted him to engage the rumoured consultants he has brought in recently? Maybe. If so, not a second too soon, but it is understandable he hasn't broadcast that, if that is the case because it is a matter of staying as many steps ahead of things as possible.So where does that leave us? Basically still in the brown stuff but of a different sort of brown stuff than we were in before. And potentially deeper brown stuff than we have experienced before.The Esk fails to mention that there are White Knight(s) which I understand that he has said before (I may be wrong on that point and apologise if so). So the work of the consultants, as suggested by The Esk, should therefore start immediately. No delays.
Gerry Quinn
2 Posted
05/05/2024 at
21:11:13
Don't you wish us Evertonians had mega-fortunes, Paul? So frustrating with these greedy buggers who don't really have any interest in the actual club! Was so desperate to win the US Lottery of + $1 billion last month...
Mike Gaynes
3 Posted
05/05/2024 at
21:23:28
"(i) Moshiri allows the creditors to restructure the club’s finances, form a functioning board and allow other investors to acquire a going concern;"This appears to be the portfolio of GDA Luma, the reputed new player in 777's game. Unlike 777, GDA has extensive restructuring experience -- and some serious money behind it.
Larry O'Hara
4 Posted
05/05/2024 at
21:30:17
As you say, Paul, 777 are toast….But I do not see any White Knights.The situation is indeed dire.
Pat Kelly
5 Posted
05/05/2024 at
21:52:42
It's all sub judice for now.All that's been concluded in the article is that “the startling submission, accusations and evidence submitted to the United States District Court” confirms suspicion that 777 “are less than the sum of their parts”. We've had a football team that's been less than the sum of its parts for ages. A more serious finding will be required to prevent 777 from acquiring Everton. These claims and counter claims could take a very long time to resolve. No one's goose has been cooked yet. Lawyers have to make a living. Let's not hold our breath.
Peter Hodgson
6 Posted
05/05/2024 at
22:04:30
The link in the piece, which I thoroughly recommend having a look at (but not for too long 'cos you go goggle eyed) is the court documents for the case Leadenhall has brought is 82 pages long but explains to some extent the case. The legal action, if it goes to court, will take forever and cost a fortune. It will be complicate and too complicated for the layman. But do partially familiarise with it. It is worth it. Link here: https://theesk.org/wp-content/uploads/2024/05/Leadenhall-Capital-Partners-LLP-v-Wander-Pasko-777-Partners-etc.pdf
Michael Kenrick
7 Posted
05/05/2024 at
22:07:29
In context, this is a long-running case that predates any involvement 777 Partners have with Everton. Also in context, lawyers have been known to exaggerate somewhat when putting forward their arguments in an effort to persuade. It remains to be seen what impact, if any, these claims have outside of the US District Court — and more crucially, when they will have any impact. Such a case could take months to be heard, and could drag on for months or even years. Meanwhile, 777 Partners have provided and continue to provide the funds Everton need to carry on their day-to-day business and pay Laing O'Rourke for the ongoing construction of Moshiri's wonderful new stadium at Bramley-Moore Dock. Just sayin’.
Peter Hodgson
8 Posted
05/05/2024 at
22:15:21
Quite correct, Michael. But if it means that 777 are no more, then we, as things stand, are buggered too. So we should prepare for life without them.
Ed Prytherch
9 Posted
06/05/2024 at
02:45:13
The case in the NY court could drag on but in the meantime 777 will be unable to access more external funds. Regulators in Utah and South Carolina took action a few weeks ago to stop A-CAP linked companies selling policies in their states. Others will surely follow. I cannot see 777 making any more loans to EFC. The Premier League do not have to disqualify 777 because they know that their bid for EFC is dead.
Mike Gaynes
10 Posted
06/05/2024 at
03:23:08
Ed #9, according to the Bloomberg report about GDA Luma, 777 is already accessing more external funds.
Don Alexander
11 Posted
06/05/2024 at
03:41:10
777 have by now repeatedly displayed themselves to the entire world as charlatans, thus far utilising Ponzi machinations to enrich themselves to the cost of their "ordinary" investors' expectations.A so-called genius accountant would be able to see through them in an hour, but alas, we don't have one. BMD is irrelevant in terms of Everton Football Club's future prosperity for decades, on account of Moshiri.He's digging us a grave in plain sight from which we are likely to perish. He is in French terms "une chatte", indulged by our very own self-serving c**t, Kenwright.
Mike Gaynes
12 Posted
06/05/2024 at
03:47:09
Anyone who can access the New York Times should read the NY Times Magazine article entitled When a Bunch of Bloody Yanks Came For English Soccer. I cannot link it here, but it's a great read, particularly in its comparison of the mess Boehly has made at Chelsea (the same Boehly who may be backing GDA Luma's move with 777) to the amazing resurrection of Villa by Edens and Sawiris. Why would a Yank and an Egyptian buy a collapsing club in a bad Birmingham neighborhood just ahead of bankruptcy? Here's why:It was probably inevitable that venture capitalists and hedge-fund managers would discover English soccer. The clubs, from the famous ones to those in leagues further down that have plumbers and shop clerks playing part time, enjoy support that most American teams can only envy... It doesn't hurt that they seem wildly undervalued compared with other sports investments. To take just one example, the San Diego team entering MLS next year, a league that’s 30 years old, is paying a $500 million expansion fee to join; Bill Foley paid less than a third of that in 2022 to buy A.F.C. Bournemouth.At the same time, underpriced tickets and bad food have provided a significant opportunity for economic growth — “low-hanging fruit,” as investors tended to describe it. So has the propensity of English fans to arrive moments before games and leave right after. Get them to spend more time at the stadium, like their American counterparts, and they might have a meal there. They might linger at an expanded club shop selling branded versions of everything from license-plate frames to dog beds. An N.B.A. owner once told me that a successful sports team should be a kind of mutual fund of businesses, across categories that include entertainment, digital content, apparel, hospitality, even real estate. Until recently, most English soccer clubs were in one business: staging games. And they didn’t do it particularly well.Note the words "real estate" in that list. To monetize his Villa investment, Edens plans to develop the land around Villa Park.And in my uninformed opinion that's where the appeal of Everton lies. The development part at BMD is already almost done. Add to that the marketing we've never done, the gear we've never tried to sell, the corporate hospitality we've never hosted, and the potential just keeps adding up. If the club can stay up for one more season and ensure its PL revenue stream sufficient to survive, the eventual buyer could be unearthing a diamond mine. All hope and speculation, of course. But the parallels to Villa's situation five years ago are striking. And they'll be in the Champions League next season.
Don Alexander
13 Posted
06/05/2024 at
04:27:24
Mike, no disrespect intended at all but your speculation, like mine, derives from Moshiri and the EPL buffoon hierarchy providing any info at all on the otherwise massive shortcomings of 777 and Everton itself given the EPL draconian sanction/s against us.We're all in a fog, just where corrupt entities want us to forever remain.
Alan J Thompson
14 Posted
06/05/2024 at
06:29:32
So will the Premier League come out and declare 777 as not meeting their criteria as suitable owners or will they await the outcome of the Leadenhall proceedings using the excuse that they cannot comment while the matter is before the Courts, which in Everton's case it isn't, or is it?
Laurie Hartley
15 Posted
06/05/2024 at
07:09:09
Paul - from your OP:"An interim, genuine management board has to be put in place immediately." Perhaps this is a stupid question but are you saying replace the board and if so who exactly has the authority to do that???? The Club website states that the current board consists of Moshiri, John Spellman and Colin Chong.
Derek Thomas
16 Posted
06/05/2024 at
08:00:01
Alan @ 14; Even though 777 are on their 3rd? or 4th? 'put up or shut up' deadline, the 'Innocent until proven guilty' thing will 'allow' The Premier League to do little or nothing, not that they seem too keen anyway.I don't know how many wheels 777 started with on their Wacky Racers Financial-Mobile - but there can't be many left - hopefully.Altogether now..."One wheel on my wagon and I'm still rolllin' along"
Laurie Hartley
17 Posted
06/05/2024 at
08:12:21
Peter # 6 - well I have just spent an hour going through your linked document. It is too complicated for me to understand completely but what I do understand in it has my head spinning.
Adrian Evans
18 Posted
06/05/2024 at
09:21:15
Moshiri may not be allowed to invite another buyer by outside influencer? It doesnt take much imagination to think who that is!!But if the Premier League turn down 777 Partners, then he has no option.If MSP Capital, AJ Bell, others say No!! 777 are out then, no choice.It needs a well capitilised company, consortium, or individual to come in and buy Everton. Clear the mess up of debt, north of £500M, pay off Moshiri, finish the stadium.Clearly they will need to keep Everton afloat for 3 or 4 months.Premier League tests to pass. But Sir Jim Ratcliffe took only 12 weeks. So by September the new owners can be in place.Moshiri can agree investment whilst it’s being sorted. Or, if we can be docked 12 points this season, win against Blades and we have enough points.Clear some debt. But that’s not fair to MSP, AJ Bell, et al. There has to be a sensible way to keep us afloat, pay everyone off.The next week will be crucial:US companyQatari State FundAN Other.But 777 has to be told “No – you’re out!”
Simon Jones
19 Posted
06/05/2024 at
09:35:44
Mike #12, May be the most interesting post I've ever read on TW?! So all we need is a US-based-venture-capital-hedge-fund-thingy, just not the potential one we are currently shackled with, and we've all got to have dinner at the match?Aside from the above, I got a freebie at Leicester City a couple of years back (Mykolenko's rocket) were there was a Sunday dinner beforehand, few beers, bit of entertainment and good seats. It was a very enjoyable way to see (experience) the game, so I can see the point of what you've posted, but it is a big change for most fans' match-going experience.
Tony Abrahams
20 Posted
06/05/2024 at
10:16:15
Whoever buys Everton has immediately got to send their marketing into overdrive.The scope is incredible. I drove into town yesterday at 11:15 am and I have genuinely never seen so many people on Dale Street, mostly walking towards the riverwhilst enjoying the sun.A lot of these people were dressed in the colours of Liverpool FC but there were also a lot of people wheeling suitcases. Our city, has suddenly become a very popular place and it's time Everton Football Club, started trying to create The Blue Everton Quarter in this very part of town.Dale Street, Old Hall Street is only really the business quarter from Monday to Friday but this is going to be the first port of call for most Evertonians leaving the new stadium (especially until around the ground is developed for people to stay around and drink with friends – a la County Road) and also the area around Castle Street has got many fantastic establishments and most Evertonians are coming back to town.Let's start reclaiming our city, because we will soon be the team from town.
John Bourne
21 Posted
06/05/2024 at
11:48:36
And yet, despite all of the aforementioned, Moshiri sees 777 Partners as the best option to facilitate the sale of the club.It begs the question, Why?The elephant is in the room for all to see.
Mark Taylor
23 Posted
06/05/2024 at
15:27:08
If I was Colin Chong, I would be seriously considering resigning as a director (even if not from his actual job). If you continue when you are aware that the entity isn't solvent, you can be in big trouble.I think the point has been reached whereby the imminent takeover by 777 is not only not imminent but not happening and since Moshiri isn't going to provide liquidity, insolvency is enough of a risk to make a director feel very uneasy.
Jerome Shields
24 Posted
06/05/2024 at
15:43:07
Don#13It is a absolute fog.Even Metro, R&FM and MSP Sports Capital will be thinking the same.It probably has been a fog for some time.I can't see anyone doing anything, only MSP Sports seeking redress if their loan is not satisfied.But we will be told nothing dependent on what comes out in the wash.As for A Cap and the 777 Partners legal and regulatory problems.They are rooted in the Baby Boomer Trillion USA Pension and Derivatives Market with probable Worldwide Economic Repercussions.I expect the Federal Reserve to step in.Which is way over Evertonian heads and most Professional Financial Analysts.
Jerome Shields
25 Posted
06/05/2024 at
15:44:49
Paul the EskDo you know the source of the recent payment of funds that Everton received to fund them to end of the season?
Brian Harrison
26 Posted
06/05/2024 at
16:07:53
Brian Harrison
27 Posted
06/05/2024 at
16:07:53
I would hope when the Government appoint an independent regulator that he also has the power to bring owners who are doing nothing to stop their club sliding into administration before a select committee to answer questions. Because at the moment the Premier league is powerless to stop unscrupulous owners from allowing their clubs to go into administration or worse.The fans are powerless to do anything, yes we can take to the streets to protest about our incompetent board but seemingly there is nothing any fans can do but accept whatever the outcome is. I think we can take it that seeing Moshiri has not said a thing then he still thinks 777 are the ideal people to take over the club.
Tony Abrahams
28 Posted
06/05/2024 at
16:24:58
Latest wattsapp messages are saying it’s now come on top for 777 in Belgium as well.
James Hughes
29 Posted
06/05/2024 at
16:39:19
James Hughes
30 Posted
06/05/2024 at
16:39:19
James Hughes
31 Posted
06/05/2024 at
16:39:19
Ed Prytherch
32 Posted
06/05/2024 at
16:49:54
Mike Gaynes, The game day experience is influenced by disposable income. The median personal disposable income in the US is $46K and is $25K in the UK. Most fans in the UK cannot afford to spend US style.https://en.wikipedia.org/wiki/Disposable_household_and_per_capita_income#Median_equivalised_disposable_income
James Flynn
33 Posted
06/05/2024 at
17:45:13
Tony (28) - ThanksIt's from Josimar:"The Repo men?The two main creditors of 777 Partners in Belgium are asking for the seizure of all assets held by the US investment fund in the country after it failed to respect payment deadlines.By Philippe Auclair and Paul BrownJosimar has regularly reported on the financial problems encountered by 777 Partners’ Belgian club Standard de Liège since the Miami-based investment fund took control of the club in the spring of 2022. The club, which is still heavily in debt despite 777’s regular capital raises, lost over 20 million euros net in 2022-23 and has publicly admitted it has struggled to meet its commitments towards staff, business partners and suppliers. This earned the club two transfer bans by the Belgian regulator in June and December 2023, which were later lifted. Some of these suppliers have been waiting for six months and more for their due, whilst salaries and bonuses have regularly failed to be paid on time.As reported here, 777 Partners recently defaulted on two tranches of payment owed to Standard’s former owner Bruno Venanzi and to the shareholders of the Immobilière du Standard, the company which owned the club’s famous Stade de Sclessin. Among those shareholders, alongside Venanzi, are former star players of les Rouches such as Edmilson Jr and former Belgian internationals Nacer Chadli and Axel Witsel. The second tranche, worth 3.5 million euro, should have been paid on 15 April. Venanzi is believed to be owed about the same amount of money.Lead photo: Former Standard de Liège Bruno Venanzi (l.) with Josh Wander (r.) and Standard CEO Pierre Locht (partly obscured)According to information received by Josimar and confirmed by multiple sources in Belgium, the affair has now been escalated by 777’s two main creditors, who are seeking a seizure of the assets owned by the US investment fund in the country – in which official papers seen by Josimar make it clear that any such disputes must be settled. Two complaints were filed on Monday 6 May, one by Venanzi, the other by the shareholders of the Immobilière. These assets include the shares ceded by Venanzi in 2022 as well as the stadium itself. In other words, the claimants are seeking a complete repossession of the assets they sold to 777 Partners (*).Double-pledging assetsThe sums involved may seem negligible – an estimated 8 million euro in total if other, lesser creditors are taken into account – in view of 777’s claims that they manage a portfolio worth up to 10 billion US dollars, and have managed to find close to 200 million pounds sterling to prop up Everton FC in the hope that their proposed takeover, on which they shook hands with owner Farhad Moshiri in September of last year, is finally rubber-stamped by the Premier League. It should be added that this prospect looks increasingly remote as another court action, this time by Leadenhall Capital Partners LLP and Leadenhall Life Insurance Linked Investments Fund Plc, one of their main sources of funding in the past, accuses Josh Wander’s and Steven Pasko’s group of companies of fraud and double-pledging assets on a colossal scale in a suit filed with the US District Court, Southern District of New York.The money seems to have dried up almost completely, now that long-time backer Kenneth King, the owner of the A-CAP group of companies, announced in February that he would be ‘disinvesting’ from 777-controlled entities. Since this announcement, made in an online seminar, a subsidiary of A-CAP, AIP Capital, has repossessed a fleet of 30 Boeing 737 Max-8 previously on 777 Partners’ books and operated by their Australian aviation venture Bonza. The ultra-low cost airline has collapsed as a result, grounding its own fleet, laying off hundreds of employees without pay, and entering into voluntary administration. In view of the modest sums involved, this court case might appear just another bump in the rocky road on which 777 Partners have been travelling in their journey into football. What will worry Wander and his associates is the speed at which the affair will be examined by Belgian justice, which could take as little as ten days to deliver a verdict. Should Venanzi and the Immobilière prove their point, 777 Partners risk losing a club they had vowed to bring back into Europe and has only just escaped relegation in the worst-ever season in their 125 year history. The impact this would have on the rest of their football empire could not be underestimated, with Genoa CFC, in particular, said to experience late payment issues similar to those which have afflicted Standard for well over a year.Within the club, the mood is grim, as expressed by their American right-back Marlon Fossey who, after yet another defeat – 3-1 to Oud-Heverlee this time, on Sunday – summed up the situation in the following terms. “Things are out of our control”, he said. “We must stick to our place, to do what we are paid for… (pause) when we are paid.”https://josimarfootball.com/2024/05/06/the-repo-men/
Mike Gaynes
34 Posted
06/05/2024 at
18:14:53
Ed #32, I'm just pointing out the reasons that these Yank investors see opportunity in the UK football market. And they see the obscene returns that the Glazers have pocketed, and they've seen the club across the park nearly triple in value in the 14 years since FSG bought it, and they want in. That's why half the clubs in league now have Yank owners. The Yanks have the cash, and they know how to monetize a sports operation.
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Peter Hodgson
1 Posted
05/05/2024 at
20:59:56
Okay so most readers will accept that the Esk doesn't, and never has, liked 777 and so therefore may read this piece as him having another go at 777. That may be so but it shouldn't deflect from the essential message that the piece is shouting, as long as we look at it with our eyes very much open.We are really in the mire if all this current act of the circus is happening. If his speculation is accurate the 777 house of cards is not going to set tumbling by the Premier League but by someone in the States. Can we withstand that happening without having a back stop in place? Unlikely.The other question that springs to mind is, did Moshiri see (or have inside information about it) that prompted him to engage the rumoured consultants he has brought in recently? Maybe. If so, not a second too soon, but it is understandable he hasn't broadcast that, if that is the case because it is a matter of staying as many steps ahead of things as possible.So where does that leave us? Basically still in the brown stuff but of a different sort of brown stuff than we were in before. And potentially deeper brown stuff than we have experienced before.The Esk fails to mention that there are White Knight(s) which I understand that he has said before (I may be wrong on that point and apologise if so). So the work of the consultants, as suggested by The Esk, should therefore start immediately. No delays.
Gerry Quinn
2 Posted
05/05/2024 at
21:11:13
Don't you wish us Evertonians had mega-fortunes, Paul? So frustrating with these greedy buggers who don't really have any interest in the actual club! Was so desperate to win the US Lottery of + $1 billion last month...
Mike Gaynes
3 Posted
05/05/2024 at
21:23:28
"(i) Moshiri allows the creditors to restructure the club’s finances, form a functioning board and allow other investors to acquire a going concern;"This appears to be the portfolio of GDA Luma, the reputed new player in 777's game. Unlike 777, GDA has extensive restructuring experience -- and some serious money behind it.
Larry O'Hara
4 Posted
05/05/2024 at
21:30:17
As you say, Paul, 777 are toast….But I do not see any White Knights.The situation is indeed dire.
Pat Kelly
5 Posted
05/05/2024 at
21:52:42
It's all sub judice for now.All that's been concluded in the article is that “the startling submission, accusations and evidence submitted to the United States District Court” confirms suspicion that 777 “are less than the sum of their parts”. We've had a football team that's been less than the sum of its parts for ages. A more serious finding will be required to prevent 777 from acquiring Everton. These claims and counter claims could take a very long time to resolve. No one's goose has been cooked yet. Lawyers have to make a living. Let's not hold our breath.
Peter Hodgson
6 Posted
05/05/2024 at
22:04:30
The link in the piece, which I thoroughly recommend having a look at (but not for too long 'cos you go goggle eyed) is the court documents for the case Leadenhall has brought is 82 pages long but explains to some extent the case. The legal action, if it goes to court, will take forever and cost a fortune. It will be complicate and too complicated for the layman. But do partially familiarise with it. It is worth it. Link here: https://theesk.org/wp-content/uploads/2024/05/Leadenhall-Capital-Partners-LLP-v-Wander-Pasko-777-Partners-etc.pdf
Michael Kenrick
7 Posted
05/05/2024 at
22:07:29
In context, this is a long-running case that predates any involvement 777 Partners have with Everton. Also in context, lawyers have been known to exaggerate somewhat when putting forward their arguments in an effort to persuade. It remains to be seen what impact, if any, these claims have outside of the US District Court — and more crucially, when they will have any impact. Such a case could take months to be heard, and could drag on for months or even years. Meanwhile, 777 Partners have provided and continue to provide the funds Everton need to carry on their day-to-day business and pay Laing O'Rourke for the ongoing construction of Moshiri's wonderful new stadium at Bramley-Moore Dock. Just sayin’.
Peter Hodgson
8 Posted
05/05/2024 at
22:15:21
Quite correct, Michael. But if it means that 777 are no more, then we, as things stand, are buggered too. So we should prepare for life without them.
Ed Prytherch
9 Posted
06/05/2024 at
02:45:13
The case in the NY court could drag on but in the meantime 777 will be unable to access more external funds. Regulators in Utah and South Carolina took action a few weeks ago to stop A-CAP linked companies selling policies in their states. Others will surely follow. I cannot see 777 making any more loans to EFC. The Premier League do not have to disqualify 777 because they know that their bid for EFC is dead.
Mike Gaynes
10 Posted
06/05/2024 at
03:23:08
Ed #9, according to the Bloomberg report about GDA Luma, 777 is already accessing more external funds.
Don Alexander
11 Posted
06/05/2024 at
03:41:10
777 have by now repeatedly displayed themselves to the entire world as charlatans, thus far utilising Ponzi machinations to enrich themselves to the cost of their "ordinary" investors' expectations.A so-called genius accountant would be able to see through them in an hour, but alas, we don't have one. BMD is irrelevant in terms of Everton Football Club's future prosperity for decades, on account of Moshiri.He's digging us a grave in plain sight from which we are likely to perish. He is in French terms "une chatte", indulged by our very own self-serving c**t, Kenwright.
Mike Gaynes
12 Posted
06/05/2024 at
03:47:09
Anyone who can access the New York Times should read the NY Times Magazine article entitled When a Bunch of Bloody Yanks Came For English Soccer. I cannot link it here, but it's a great read, particularly in its comparison of the mess Boehly has made at Chelsea (the same Boehly who may be backing GDA Luma's move with 777) to the amazing resurrection of Villa by Edens and Sawiris. Why would a Yank and an Egyptian buy a collapsing club in a bad Birmingham neighborhood just ahead of bankruptcy? Here's why:It was probably inevitable that venture capitalists and hedge-fund managers would discover English soccer. The clubs, from the famous ones to those in leagues further down that have plumbers and shop clerks playing part time, enjoy support that most American teams can only envy... It doesn't hurt that they seem wildly undervalued compared with other sports investments. To take just one example, the San Diego team entering MLS next year, a league that’s 30 years old, is paying a $500 million expansion fee to join; Bill Foley paid less than a third of that in 2022 to buy A.F.C. Bournemouth.At the same time, underpriced tickets and bad food have provided a significant opportunity for economic growth — “low-hanging fruit,” as investors tended to describe it. So has the propensity of English fans to arrive moments before games and leave right after. Get them to spend more time at the stadium, like their American counterparts, and they might have a meal there. They might linger at an expanded club shop selling branded versions of everything from license-plate frames to dog beds. An N.B.A. owner once told me that a successful sports team should be a kind of mutual fund of businesses, across categories that include entertainment, digital content, apparel, hospitality, even real estate. Until recently, most English soccer clubs were in one business: staging games. And they didn’t do it particularly well.Note the words "real estate" in that list. To monetize his Villa investment, Edens plans to develop the land around Villa Park.And in my uninformed opinion that's where the appeal of Everton lies. The development part at BMD is already almost done. Add to that the marketing we've never done, the gear we've never tried to sell, the corporate hospitality we've never hosted, and the potential just keeps adding up. If the club can stay up for one more season and ensure its PL revenue stream sufficient to survive, the eventual buyer could be unearthing a diamond mine. All hope and speculation, of course. But the parallels to Villa's situation five years ago are striking. And they'll be in the Champions League next season.
Don Alexander
13 Posted
06/05/2024 at
04:27:24
Mike, no disrespect intended at all but your speculation, like mine, derives from Moshiri and the EPL buffoon hierarchy providing any info at all on the otherwise massive shortcomings of 777 and Everton itself given the EPL draconian sanction/s against us.We're all in a fog, just where corrupt entities want us to forever remain.
Alan J Thompson
14 Posted
06/05/2024 at
06:29:32
So will the Premier League come out and declare 777 as not meeting their criteria as suitable owners or will they await the outcome of the Leadenhall proceedings using the excuse that they cannot comment while the matter is before the Courts, which in Everton's case it isn't, or is it?
Laurie Hartley
15 Posted
06/05/2024 at
07:09:09
Paul - from your OP:"An interim, genuine management board has to be put in place immediately." Perhaps this is a stupid question but are you saying replace the board and if so who exactly has the authority to do that???? The Club website states that the current board consists of Moshiri, John Spellman and Colin Chong.
Derek Thomas
16 Posted
06/05/2024 at
08:00:01
Alan @ 14; Even though 777 are on their 3rd? or 4th? 'put up or shut up' deadline, the 'Innocent until proven guilty' thing will 'allow' The Premier League to do little or nothing, not that they seem too keen anyway.I don't know how many wheels 777 started with on their Wacky Racers Financial-Mobile - but there can't be many left - hopefully.Altogether now..."One wheel on my wagon and I'm still rolllin' along"
Laurie Hartley
17 Posted
06/05/2024 at
08:12:21
Peter # 6 - well I have just spent an hour going through your linked document. It is too complicated for me to understand completely but what I do understand in it has my head spinning.
Adrian Evans
18 Posted
06/05/2024 at
09:21:15
Moshiri may not be allowed to invite another buyer by outside influencer? It doesnt take much imagination to think who that is!!But if the Premier League turn down 777 Partners, then he has no option.If MSP Capital, AJ Bell, others say No!! 777 are out then, no choice.It needs a well capitilised company, consortium, or individual to come in and buy Everton. Clear the mess up of debt, north of £500M, pay off Moshiri, finish the stadium.Clearly they will need to keep Everton afloat for 3 or 4 months.Premier League tests to pass. But Sir Jim Ratcliffe took only 12 weeks. So by September the new owners can be in place.Moshiri can agree investment whilst it’s being sorted. Or, if we can be docked 12 points this season, win against Blades and we have enough points.Clear some debt. But that’s not fair to MSP, AJ Bell, et al. There has to be a sensible way to keep us afloat, pay everyone off.The next week will be crucial:US companyQatari State FundAN Other.But 777 has to be told “No – you’re out!”
Simon Jones
19 Posted
06/05/2024 at
09:35:44
Mike #12, May be the most interesting post I've ever read on TW?! So all we need is a US-based-venture-capital-hedge-fund-thingy, just not the potential one we are currently shackled with, and we've all got to have dinner at the match?Aside from the above, I got a freebie at Leicester City a couple of years back (Mykolenko's rocket) were there was a Sunday dinner beforehand, few beers, bit of entertainment and good seats. It was a very enjoyable way to see (experience) the game, so I can see the point of what you've posted, but it is a big change for most fans' match-going experience.
Tony Abrahams
20 Posted
06/05/2024 at
10:16:15
Whoever buys Everton has immediately got to send their marketing into overdrive.The scope is incredible. I drove into town yesterday at 11:15 am and I have genuinely never seen so many people on Dale Street, mostly walking towards the riverwhilst enjoying the sun.A lot of these people were dressed in the colours of Liverpool FC but there were also a lot of people wheeling suitcases. Our city, has suddenly become a very popular place and it's time Everton Football Club, started trying to create The Blue Everton Quarter in this very part of town.Dale Street, Old Hall Street is only really the business quarter from Monday to Friday but this is going to be the first port of call for most Evertonians leaving the new stadium (especially until around the ground is developed for people to stay around and drink with friends – a la County Road) and also the area around Castle Street has got many fantastic establishments and most Evertonians are coming back to town.Let's start reclaiming our city, because we will soon be the team from town.
John Bourne
21 Posted
06/05/2024 at
11:48:36
And yet, despite all of the aforementioned, Moshiri sees 777 Partners as the best option to facilitate the sale of the club.It begs the question, Why?The elephant is in the room for all to see.
Mark Taylor
23 Posted
06/05/2024 at
15:27:08
If I was Colin Chong, I would be seriously considering resigning as a director (even if not from his actual job). If you continue when you are aware that the entity isn't solvent, you can be in big trouble.I think the point has been reached whereby the imminent takeover by 777 is not only not imminent but not happening and since Moshiri isn't going to provide liquidity, insolvency is enough of a risk to make a director feel very uneasy.
Jerome Shields
24 Posted
06/05/2024 at
15:43:07
Don#13It is a absolute fog.Even Metro, R&FM and MSP Sports Capital will be thinking the same.It probably has been a fog for some time.I can't see anyone doing anything, only MSP Sports seeking redress if their loan is not satisfied.But we will be told nothing dependent on what comes out in the wash.As for A Cap and the 777 Partners legal and regulatory problems.They are rooted in the Baby Boomer Trillion USA Pension and Derivatives Market with probable Worldwide Economic Repercussions.I expect the Federal Reserve to step in.Which is way over Evertonian heads and most Professional Financial Analysts.
Jerome Shields
25 Posted
06/05/2024 at
15:44:49
Paul the EskDo you know the source of the recent payment of funds that Everton received to fund them to end of the season?
Brian Harrison
26 Posted
06/05/2024 at
16:07:53
Brian Harrison
27 Posted
06/05/2024 at
16:07:53
I would hope when the Government appoint an independent regulator that he also has the power to bring owners who are doing nothing to stop their club sliding into administration before a select committee to answer questions. Because at the moment the Premier league is powerless to stop unscrupulous owners from allowing their clubs to go into administration or worse.The fans are powerless to do anything, yes we can take to the streets to protest about our incompetent board but seemingly there is nothing any fans can do but accept whatever the outcome is. I think we can take it that seeing Moshiri has not said a thing then he still thinks 777 are the ideal people to take over the club.
Tony Abrahams
28 Posted
06/05/2024 at
16:24:58
Latest wattsapp messages are saying it’s now come on top for 777 in Belgium as well.
James Hughes
29 Posted
06/05/2024 at
16:39:19
James Hughes
30 Posted
06/05/2024 at
16:39:19
James Hughes
31 Posted
06/05/2024 at
16:39:19
Ed Prytherch
32 Posted
06/05/2024 at
16:49:54
Mike Gaynes, The game day experience is influenced by disposable income. The median personal disposable income in the US is $46K and is $25K in the UK. Most fans in the UK cannot afford to spend US style.https://en.wikipedia.org/wiki/Disposable_household_and_per_capita_income#Median_equivalised_disposable_income
James Flynn
33 Posted
06/05/2024 at
17:45:13
Tony (28) - ThanksIt's from Josimar:"The Repo men?The two main creditors of 777 Partners in Belgium are asking for the seizure of all assets held by the US investment fund in the country after it failed to respect payment deadlines.By Philippe Auclair and Paul BrownJosimar has regularly reported on the financial problems encountered by 777 Partners’ Belgian club Standard de Liège since the Miami-based investment fund took control of the club in the spring of 2022. The club, which is still heavily in debt despite 777’s regular capital raises, lost over 20 million euros net in 2022-23 and has publicly admitted it has struggled to meet its commitments towards staff, business partners and suppliers. This earned the club two transfer bans by the Belgian regulator in June and December 2023, which were later lifted. Some of these suppliers have been waiting for six months and more for their due, whilst salaries and bonuses have regularly failed to be paid on time.As reported here, 777 Partners recently defaulted on two tranches of payment owed to Standard’s former owner Bruno Venanzi and to the shareholders of the Immobilière du Standard, the company which owned the club’s famous Stade de Sclessin. Among those shareholders, alongside Venanzi, are former star players of les Rouches such as Edmilson Jr and former Belgian internationals Nacer Chadli and Axel Witsel. The second tranche, worth 3.5 million euro, should have been paid on 15 April. Venanzi is believed to be owed about the same amount of money.Lead photo: Former Standard de Liège Bruno Venanzi (l.) with Josh Wander (r.) and Standard CEO Pierre Locht (partly obscured)According to information received by Josimar and confirmed by multiple sources in Belgium, the affair has now been escalated by 777’s two main creditors, who are seeking a seizure of the assets owned by the US investment fund in the country – in which official papers seen by Josimar make it clear that any such disputes must be settled. Two complaints were filed on Monday 6 May, one by Venanzi, the other by the shareholders of the Immobilière. These assets include the shares ceded by Venanzi in 2022 as well as the stadium itself. In other words, the claimants are seeking a complete repossession of the assets they sold to 777 Partners (*).Double-pledging assetsThe sums involved may seem negligible – an estimated 8 million euro in total if other, lesser creditors are taken into account – in view of 777’s claims that they manage a portfolio worth up to 10 billion US dollars, and have managed to find close to 200 million pounds sterling to prop up Everton FC in the hope that their proposed takeover, on which they shook hands with owner Farhad Moshiri in September of last year, is finally rubber-stamped by the Premier League. It should be added that this prospect looks increasingly remote as another court action, this time by Leadenhall Capital Partners LLP and Leadenhall Life Insurance Linked Investments Fund Plc, one of their main sources of funding in the past, accuses Josh Wander’s and Steven Pasko’s group of companies of fraud and double-pledging assets on a colossal scale in a suit filed with the US District Court, Southern District of New York.The money seems to have dried up almost completely, now that long-time backer Kenneth King, the owner of the A-CAP group of companies, announced in February that he would be ‘disinvesting’ from 777-controlled entities. Since this announcement, made in an online seminar, a subsidiary of A-CAP, AIP Capital, has repossessed a fleet of 30 Boeing 737 Max-8 previously on 777 Partners’ books and operated by their Australian aviation venture Bonza. The ultra-low cost airline has collapsed as a result, grounding its own fleet, laying off hundreds of employees without pay, and entering into voluntary administration. In view of the modest sums involved, this court case might appear just another bump in the rocky road on which 777 Partners have been travelling in their journey into football. What will worry Wander and his associates is the speed at which the affair will be examined by Belgian justice, which could take as little as ten days to deliver a verdict. Should Venanzi and the Immobilière prove their point, 777 Partners risk losing a club they had vowed to bring back into Europe and has only just escaped relegation in the worst-ever season in their 125 year history. The impact this would have on the rest of their football empire could not be underestimated, with Genoa CFC, in particular, said to experience late payment issues similar to those which have afflicted Standard for well over a year.Within the club, the mood is grim, as expressed by their American right-back Marlon Fossey who, after yet another defeat – 3-1 to Oud-Heverlee this time, on Sunday – summed up the situation in the following terms. “Things are out of our control”, he said. “We must stick to our place, to do what we are paid for… (pause) when we are paid.”https://josimarfootball.com/2024/05/06/the-repo-men/
Mike Gaynes
34 Posted
06/05/2024 at
18:14:53
Ed #32, I'm just pointing out the reasons that these Yank investors see opportunity in the UK football market. And they see the obscene returns that the Glazers have pocketed, and they've seen the club across the park nearly triple in value in the 14 years since FSG bought it, and they want in. That's why half the clubs in league now have Yank owners. The Yanks have the cash, and they know how to monetize a sports operation.
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The recent developments surrounding Everton Football Club, 777 Partners, and majority shareholder Farhad Moshiri have caused quite a stir in the football world. The accusations made by Leadenhall Capital Partners have brought to light some concerning issues that need to be addressed immediately. As the situation continues to unfold, it is crucial for all parties involved to take swift and decisive action in order to protect the future of the club. Here are some key steps that must be taken in the wake of these accusations.