Mr Popodopolous Posted April 30 Author Report Share Posted April 30 Sceptic in me says looking to rally and either look to kick the administration can down the road aka next season or rally to a point where they may stay up even with -9 more. Either of those feels like gaming the system to a degree. Quote Link to comment Share on other sites More sharing options...
Mr Popodopolous Posted April 30 Author Report Share Posted April 30 (edited) @ExiledAjax @Hxj You two may have a better idea on this. If a PL club goes into Administration, I know the -9 vs -12 but is there a 2 Year Business Plan etc post Administration too? I know the Football League measures can be rather hardline. Edited April 30 by Mr Popodopolous Quote Link to comment Share on other sites More sharing options...
ExiledAjax Posted April 30 Report Share Posted April 30 9 minutes ago, Markthehorn said: Another set of owners not fit and proper to take over a club but are allowed to..? I think 777's involvement is more curious than that. They not actually been allowed to take over ownership. They've signed a contract to buy the shares, but they've not been ratified by the PL as satisfying the tests. However, that's not stopped them lending money to Everton, and in so doing they've tacitly taken a pretty controlling position. Whether it satisfies the PL definition of "Control" would be interesting, but it's possible it could. That definition doesn't require ownership of shares. 3 Quote Link to comment Share on other sites More sharing options...
chinapig Posted April 30 Report Share Posted April 30 10 minutes ago, ExiledAjax said: I think 777's involvement is more curious than that. They not actually been allowed to take over ownership. They've signed a contract to buy the shares, but they've not been ratified by the PL as satisfying the tests. However, that's not stopped them lending money to Everton, and in so doing they've tacitly taken a pretty controlling position. Whether it satisfies the PL definition of "Control" would be interesting, but it's possible it could. That definition doesn't require ownership of shares. Further complicated by the loans from other creditors (£160m) being secured on the new stadium and more than half of Moshiri's shares. It's a Gordian knot but Alexander the Great is unlikely to take the club over. 1 Quote Link to comment Share on other sites More sharing options...
ExiledAjax Posted April 30 Report Share Posted April 30 1 minute ago, chinapig said: Further complicated by the loans from other creditors (£160m) being secured on the new stadium and more than half of Moshiri's shares. It's a Gordian knot but Alexander the Great is unlikely to take the club over. It's an absolute mess of secured and unsecured debt, there will be a big fight over any priority. Chuck some football creditors in there as well of course. I'm not sure the Alexandrian method of solving the problem would be favoured by Everton fans! 1 Quote Link to comment Share on other sites More sharing options...
W-S-M Seagull Posted April 30 Report Share Posted April 30 30 minutes ago, Mr Popodopolous said: Sceptic in me says looking to rally and either look to kick the administration can down the road aka next season or rally to a point where they may stay up even with -9 more. Either of those feels like gaming the system to a degree. In my opinion this all stems from the special pleading that occurred and the premier league trying to protect their own image. We've had their points deduction reduced. Then a pathetic second points deduction and then the kick the can down the road about the other issue. 777 will not be approved. That's plainly obvious. If Everton were to enter administration this season because the PL rejected 777 then the fall out would be immense so that's why I believe the PL are waiting for the right time to do it. Ironically I think administration for Everton is probably the best way to go for the long term security of the club. But people only like to think of the short term in football. 1 Quote Link to comment Share on other sites More sharing options...
Mr Popodopolous Posted April 30 Author Report Share Posted April 30 18 minutes ago, W-S-M Seagull said: In my opinion this all stems from the special pleading that occurred and the premier league trying to protect their own image. We've had their points deduction reduced. Then a pathetic second points deduction and then the kick the can down the road about the other issue. 777 will not be approved. That's plainly obvious. If Everton were to enter administration this season because the PL rejected 777 then the fall out would be immense so that's why I believe the PL are waiting for the right time to do it. Ironically I think administration for Everton is probably the best way to go for the long term security of the club. But people only like to think of the short term in football. Agreed. The Governing bodies should rule without fear, favour or Special Pleading really, irs ridiculous. The proposed takeover first arose in September, we are now all but in May Quote Link to comment Share on other sites More sharing options...
chinapig Posted May 7 Report Share Posted May 7 (edited) The minority shareholders seem miffed! Naturally they say the PL can't regulate (I wonder why?) but they are right that they should put an end to the 777 Partners bid given the latest allegations. But the blame sits with Moshiri who is getting off lightly. https://www.theguardian.com/football/article/2024/may/07/everton-shareholders-demand-end-to-farce-of-777-takeover And for the best in-depth coverage I recommend Josimar and the excellent Philippe Auclair https://josimarfootball.com/2024/04/30/kind-of-blue/ Edited May 7 by chinapig Quote Link to comment Share on other sites More sharing options...
Mr Popodopolous Posted May 9 Author Report Share Posted May 9 (edited) Time will tell. One bit though if I'm a creditor surely my priority is the best deal/best chance of the best % of cash back Edited May 9 by Mr Popodopolous Quote Link to comment Share on other sites More sharing options...
PHILINFRANCE Posted May 9 Report Share Posted May 9 On 30/04/2024 at 14:52, chinapig said: Further complicated by the loans from other creditors (£160m) being secured on the new stadium and more than half of Moshiri's shares. It's a Gordian knot but Alexander the Great is unlikely to take the club over. Surely someone in Liverpool has a sword. Quote Link to comment Share on other sites More sharing options...
Mr Popodopolous Posted May 10 Author Report Share Posted May 10 (edited) Everton have withdrawn their Appeal vs the-2 for the period ending 2023. To me, their behaviour since Spring 2023 if not before, but certainly since the Sanctions were handed down..they've got off lightly on one level. The equivalent of wasting police time, the PL if anything shouldn't have let them off without appealing -2. https://www.dailymail.co.uk/sport/football/article-13403991/Everton-officially-withdraw-appeal-against-two-point-deduction-breaching-Premier-Leagues-Profit-Sustainability-rules.html Edited May 10 by Mr Popodopolous Quote Link to comment Share on other sites More sharing options...
Sleepy1968 Posted May 10 Report Share Posted May 10 5 hours ago, Mr Popodopolous said: Everton have withdrawn their Appeal vs the-2 for the period ending 2023. To me, their behaviour since Spring 2023 if not before, but certainly since the Sanctions were handed down..they've got off lightly on one level. The equivalent of wasting police time, the PL if anything shouldn't have let them off without appealing -2. https://www.dailymail.co.uk/sport/football/article-13403991/Everton-officially-withdraw-appeal-against-two-point-deduction-breaching-Premier-Leagues-Profit-Sustainability-rules.html The PL should send them a legal bill. 1 Quote Link to comment Share on other sites More sharing options...
Mr Popodopolous Posted May 10 Author Report Share Posted May 10 1 hour ago, Sleepy1968 said: The PL should send them a legal bill. Pittance in the grand scheme. I've said it before, it genuinely feels like maybe not everyone and maybe I'm wrong but people or some bodies are bending over backwards to try and avoid Everton going into administration..-2 for a 2nd Breach, I'd actually have appealed that as the PL- wider financial consequences be damned. Quote Link to comment Share on other sites More sharing options...
chinapig Posted May 14 Report Share Posted May 14 Richard Masters and Rick Parry have been questioned by MPs today. Surprisingly, Masters says the Premier League has no power to reject a takeover. https://www.theguardian.com/football/article/2024/may/14/premier-league-reiterates-very-clear-stance-on-777-partners-everton-takeover 1 Quote Link to comment Share on other sites More sharing options...
PHILINFRANCE Posted May 14 Report Share Posted May 14 I just knew I had seen him before. Quote Link to comment Share on other sites More sharing options...
chinapig Posted May 15 Report Share Posted May 15 Today's developments: Everton have been offered a loan of £150m towards completion of their stadium by a private equity firm specialising in distressed debt. Moshiri has extended the 777 deadline yet again to the end of May. https://www.bbc.co.uk/sport/football/articles/cjmkmev2wkxo This will run and run. I think I might pitch a series to Netflix! 1 Quote Link to comment Share on other sites More sharing options...
Mr Popodopolous Posted May 15 Author Report Share Posted May 15 It seems like everyone and their dog are bending over backwards to avoid Everton going into administration and especially at a time whereby they would be at serious risk of the drop ie had it happened in March or early April plus the 2nd FFP case on the way that would have been a serious blow plus morale boost for those around. Quote Link to comment Share on other sites More sharing options...
downendcity Posted May 15 Report Share Posted May 15 43 minutes ago, Mr Popodopolous said: It seems like everyone and their dog are bending over backwards to avoid Everton going into administration and especially at a time whereby they would be at serious risk of the drop ie had it happened in March or early April plus the 2nd FFP case on the way that would have been a serious blow plus morale boost for those around. It did seem that the EPL went leniently on Everton in response to their fans' ( and fans of other clubs and many in the press and media) claims that the points deduction was unfair and harsh and, although I'm not so well versed as you and others as to the particulars of Everton's finances, it did seem to me that there was an overly generous consideration given to some of the financial manipulation surrounding the new stadium finances as far as P&S was concerned. I saw an article earlier this week suggesting that the stalled take over has pushed Everton close to administration. It did cross my mind that behind the scenes manoeuvring might have taken place to stall it long enough so that if it does happen, any penalties will impact on next season rather than this, when on top of the ffp points deduction it could have proved fatal. I think all of this is what is making many feel that Man City will eventually come through their charges unscathed, because the EPL/FA will somehow look at them as a special case, although in fairness I think most l understand that Man City's charges are much more complicated than the relatively straightforward accounts based P&S breaches of Everton and Forest and this is a reason why it has not yet been decided. However, the EPL have just demonstrated their naivety by having failed to address the same ffp loophole that many EFL clubs exploited by selling their stadia to related third party companies in order to avoid ffp sanctions. So now Chelsea are selling hotels to related third party companies to bridge the massive hole in their accounts. Even better, having sold the hotels, so they no longer own the asset, Chelsea propose to continue to enjoy the income stream from the same hotels! Excuse me if I lack confidence in football's administrators properly addressing Man City's 115 charges! P.S. If Man City are found guilty, relegated from the prem, or worse, then I take all this back and will happily apologise profusely. 1 Quote Link to comment Share on other sites More sharing options...
W-S-M Seagull Posted May 15 Report Share Posted May 15 2 hours ago, chinapig said: Today's developments: Everton have been offered a loan of £150m towards completion of their stadium by a private equity firm specialising in distressed debt. Moshiri has extended the 777 deadline yet again to the end of May. https://www.bbc.co.uk/sport/football/articles/cjmkmev2wkxo This will run and run. I think I might pitch a series to Netflix! So the PL said to 777 they had to come up with 100 million for the new stadium, 777 then go out and find a lender for that rather than providing the money themselves in the hope that will satisfy the PL. Quote Link to comment Share on other sites More sharing options...
chinapig Posted May 15 Report Share Posted May 15 24 minutes ago, downendcity said: I saw an article earlier this week suggesting that the stalled take over has pushed Everton close to administration. It did cross my mind that behind the scenes manoeuvring might have taken place to stall it long enough so that if it does happen, any penalties will impact on next season rather than this, when on top of the ffp points deduction it could have proved fatal. Moshiri has just yet again extended the deadline for 777 Partners, to the end of May. Part of his motivation may be to delay as you say but the Premier League does not have the power to prevent that, it can only withhold approval until it has proof of funds. 32 minutes ago, downendcity said: I think all of this is what is making many feel that Man City will eventually come through their charges unscathed, because the EPL/FA will somehow look at them as a special case... If the Premier League wanted to favour Man City they would not have brought the charges surely? It's something of a risk for them to go ahead. Plus of course an independent commission will decide the 115 cases not the PL. Bear in mind that the Premier League is the clubs not some separate body (something Everton fans and some journalists can't seem to grasp). We can be pretty sure the majority of clubs wanted the charges pursued. 1 Quote Link to comment Share on other sites More sharing options...
SecretSam Posted May 15 Report Share Posted May 15 It's worth stating again, but Everton were one of the big 5 (I think) clubs who drove the original formation of the Premier League, solely with the intention of keeping more of the money for themselves. I'd go looking for my special Everton violin, but my massive microscope is at the menders. Quote Link to comment Share on other sites More sharing options...
Coombsy Posted May 15 Report Share Posted May 15 On 30/04/2024 at 13:25, Markthehorn said: Another set of owners not fit and proper to take over a club but are allowed to..? And some people want the Lansdowns gone Quote Link to comment Share on other sites More sharing options...
chinapig Posted May 15 Report Share Posted May 15 1 hour ago, W-S-M Seagull said: So the PL said to 777 they had to come up with 100 million for the new stadium, 777 then go out and find a lender for that rather than providing the money themselves in the hope that will satisfy the PL. I'm not sure anybody is prepared to lend to 777 especially as they are facing a fraud case on top of everything else. I suspect Moshiri is trying to secure this new loan. Even if it gets 777 off the hook for the stadium loan they will have to find the money to pay off all the other loans and pay the club's day to day running costs. Not going to happen imo. It'll be worth listening to the Price of Football podcast tomorrow to hear what Kieran Maguire has to say. Quote Link to comment Share on other sites More sharing options...
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