Everton Thread - 2023/24

[East Level 2]

Everton takeover in added time after 777 gets extension to repay £160m loan

Repayment of debt is condition of 777 taking over club.

www.irishexaminer.com

I didn't think things were as bad as that at Everton fella! Have a read.

Everton paying back over 400k a week on a loan that 777 took out to raise money on the takeover but landed the loan on Everton FC. Wow.

Most likely outcome is administration for Everton. Scary times.

How does that work? Please answer in simple terms.

 

[halfcenturyup]

How does that work? Please answer in simple terms.

Not sure, but isn't it two different things?

i) Everton have borrowed money and are repaying over 400k per week.

ii) 777 have to repay some of their own debt before the PL will approve the take-over. But they don't have any cash?

Anyone?

 

[TinFoilHat]

777 are as honest as Donald Trump with their wealth.

Questions will be asked about the Premier League "Fit and Proper" tests when it becomes public knowledge.

 

[East Level 2]

777 are as honest as Donald Trump with their wealth.

Questions will be asked about the Premier League "Fit and Proper" tests when it becomes public knowledge.

I think the PL fit and proper test will consist of two questions:
1) Will you support everything the rags, dippers, Arse and Spuds suggest.
2) Can you change your name from 777 to 115?

 

[Norman kneejerk]

Not sure, but isn't it two different things?

i) Everton have borrowed money and are repaying over 400k per week.

ii) 777 have to repay some of their own debt before the PL will approve the take-over. But they don't have any cash?

Anyone?

I think yes they have borrowed money from the consortium costing them the weekly repayments if 400 k plus.

It does read a bit initially as if 777 owe the money but a bit further down I think is the actual situation that the lenders who are that consortium have security on their loan and 777 need to clear it before the sale can be agreed.

Begs the question why Moshiri can't clear it but presumably he is now spent up.

 

[dadnlad]

I think yes they have borrowed money from the consortium costing them the weekly repayments if 400 k plus.

It does read a bit initially as if 777 owe the money but a bit further down I think is the actual situation that the lenders who are that consortium have security on their loan and 777 need to clear it before the sale can be agreed.

Begs the question why Moshiri can't clear it but presumably he is now spent all of Usmanov's credit card .

sorted for you ;)

 

[shackattack]

Kenwright led Evertonians a merry dance for years from ring - fencing money for a waterfront stadium, that no future star players would be sold, even stories of Tesco investing £52 million to subsidise a new stadium. And this was 10 years ago nearly.
The fans protested against the owners and way it was run for decades. Now it seems the legacy of the way it was run is coming home to roost.

 

[Alan Harper's Tash]

 

[Toffeedude]

Sky have started to get behind Luton to survive.

Yesterday they said that if Luton can stay up then it will be one of greatest escapes in Premier League history. Yeah right! if they stay up they do because other teams were docked points... A great escape indeed.

Come on Brentford.

 

[bluethrunthru]