Everton call in insolvency advisers amid fresh doubt over 777 takeover

[David Edgar]

This brings back very, very bad memories. There doesn’t seem a way out of this for them.

Everton call in insolvency advisers amid fresh doubt over 777 takeover

Everton are calling in a firm of restructuring and insolvency advisers, the Guardian understands, raising further questions about the proposed takeover by 777 Partners

www.theguardian.com

 

[CLMGC]

Soapy bubble awaits.

 

[Cathcart Bear]

This brings back very, very bad memories. There doesn’t seem a way out of this for them.

Everton call in insolvency advisers amid fresh doubt over 777 takeover

Everton are calling in a firm of restructuring and insolvency advisers, the Guardian understands, raising further questions about the proposed takeover by 777 Partners

www.theguardian.com

I’ll be honest until you guys covered on Seagulls I wasn’t aware of just how absolutely fucked they are !

 

[ChildOfGoth]

Truly awful

 

[TerrySilverLoyal]

Some achievement to be in bother when you have access to epl money and never been out the epl!

 

[Blu_ultra]

Mental numbers. Staying in the premiership and selling off their biggest assets might be the best they can hope for.

 

[Rupert de Boer]

Wonder if we are due any more instalments of the Patterson transfer?

 

[Iain04]

Would suspect with PL survival assured they might ask the EPL for next seasons funds to cover any shortfall to the end of the season. Then do a fire sale in the summer to try build funds.
Regardless it looks like a youth squad next season will be all they can afford or have to play

 

[iain18(7)2]

How is the new stadium build going? Has it completed?

 

[BruceyBalboa]

That's unbelievable

 

[bluewonder]

They have spent some money on hiring and firing mangers plus a lot of it on dross in terms of players.

Even back in the days of David Moyes when they did not have much money to spend they were regular top 8 finishers and qualifying for Europe on a regular basis.

 

[David Edgar]

I’ll be honest until you guys covered on Seagulls I wasn’t aware of just how absolutely fucked they are !

It’s staggering. The money they have pissed away. It’s the equivalent of one of those lottery winners who go mental and end up bankrupt.

 

[alba73]

Will a further points deduction happen?
if so will they be relegated?

 

[TQ3]

They have spent some money on hiring and firing mangers plus a lot of it on dross in terms of players.

Even back in the days of David Moyes when they did not have much money to spend they were regular top 8 finishers and qualifying for Europe on a regular basis.

Under Moyes they were known as a yo-yo club, one season fighting relegation, the next fighting for a European spot. He was a steady Eddie for them, but since then they have floundered badly.

 

[1BadMouse]

Not sounding good for them grim numbers & reading

 

[bluetonic]

Mental numbers. Staying in the premiership and selling off their biggest assets might be the best they can hope for.

Not much to hope for then?

 

[bluetonic]

Will a further points deduction happen?
if so will they be relegated?

Probably

 

[HMS.Temple.Garden]

777 got their fingers involved in a number of clubs across the globe.

Standard Liege are one of their clubs and are also in deep bother. They haven't paid taxes etc

Hertha Berlin are not healthy either

 

[Bristol_bnose3]

To win the Liverpool derby, avoid relegation and go into liquidation in the space of the week or so would be some going.

 

[Simply a Bear]

I feel sorry for the fans, but how in the world do you get in that mess with the guaranteed money from the premiership?

 

[Professor Yaffle]

Fat Mike will be sniffing about. Watch this space.

Shame for the fans 100%

 

[Delboy1962]

Spent money on players unwisely and are building a new stadium.
No great surprise,their board has majorly fkd up on a regular basis.

 

[imager]

Surely the proposed sale of Goodison can be used as collateral?

 

[Skoosh1872]

That sounds like it’s only going in one direction.

Grim

 

[dublinbluenose]

I’ll be honest until you guys covered on Seagulls I wasn’t aware of just how absolutely fucked they are !

I was the same,didn’t realise how bad it was till I heard David on seagulls

 

[alba73]

Just listened to talkSPORT news bulletin and nothing mentioned

 

[Ataturk]

 

[Bristol_bnose3]

Surely the proposed sale of Goodison can be used as collateral?

It's worth about £6m on the open market. Its only value is the space - it wont be used as a stadium and thats about the going rate for a piece of commercial land of that size.

So f88k all basically.

 

[Clicker]

So far they’re still ahead of Tranmere as Merseyside’s second biggest club, but that could change.

 

[Rangerista]

How is the new stadium build going? Has it completed?

See here:

https://twitter.com/x/status/1783871769566212324

 

[Meiklejohn]

Anyone know their total debt ? The article quotes around 200M owed to 777. Another 160M to investors.

Guessing they’ll be more millions owed to others

 

[ARFC]

Mental especially with all the money they have in that league, then if these clubs that were demoted manage to successfully sue them (if that is still even being talked about/happening) they are in quite big trouble.

 

[John Wilson]

No loss to the PL. Dirge football.

 

[RTD-BEAR]

They have spent some money on hiring and firing mangers plus a lot of it on dross in terms of players.

Even back in the days of David Moyes when they did not have much money to spend they were regular top 8 finishers and qualifying for Europe on a regular basis.

Pretty sure when Walter was there he actually was able to turn a profit on player trading

Signed done really good players as soon as they started doing well they were sold

 

[TheHammerJorgAlbertz11]

Always thought it was desperation that they were entertaining that 777 mob.

You didn't have to look too far into them to know they were bad news.

 

[WinkieWATP]

Anyone know their total debt ? The article quotes around 200M owed to 777. Another 160M to investors.

Guessing they’ll be more millions owed to others

They had a £159m that was due to be paid the other day they couldn’t pay.

Would imagine if 777 get the go ahead to take over then that £200m would get took over the cost of buying the club? Can’t get my head around 777 being allowed to bank roll Everton despite never getting the go ahead to take over tbh.

 

[stefanovitch]

Used to like Everton even before Walter when they had a really good side and done well in Europe (probably the blue shirt again) but I can't feel sorry for a club who has blown a fortune on mediocre players and the more EPL clubs that hit financial hardship the better - the growth of the EPL and their ludicrous tv deal has killed the game up here

 

[yosser hughes]

How is the new stadium build going? Has it completed?

still to be fitted out, most of the structural work been done and seating being installed, but I think this stadium will end up being a millstone around the club"s back, I would expect whoever takes control of that club will hive the stadium off to a separate company and lease it back to club purely on a playing only deal, hospitality and rent payments will be from club to private entity, hard really to see any kind of future for them,

 

[Beaujolais]

I feel for their fans. That period of our own struggles was one of the toughest of my life in many ways. You can’t underestimate the impact this has on ordinary fans.

 

[yosser hughes]

Surely the proposed sale of Goodison can be used as collateral?

not wishing to piss on the good people of Walton, but Goodison park isn't in the most salubrious of areas and so that land will not be worth a great deal, and the plans were for it to be put into community use

 

[Fernando26]

It’ll maybe stop them singing their shitty little song about us if they go out the game.

 

[BrooklynBlue]

Always thought it was desperation that they were entertaining that 777 mob.

You didn't have to look too far into them to know they were bad news.

Yes, getting involved with an American private investment company is seldom going to end well.

Everton is a club not quite accepting their level and thus overreaching. The money wasted on players is staggering.

 

[muttley]

Everton won't face the witchhunt we received, and demands for them to be killed off. That is a guarantee.

 

[TheBlueLizard]

It’ll maybe stop them singing their shitty little song about us if they go out the game.

My thoughts exactly. Cant stand them.

 

[Midfield General]

The amount of money swilling around the Premiership it is criminally negligent to run in to financial difficulties.
Anyway hopefully Patterson will refuse to tupe over and he can have Tavs position when he retires/goes to Saudi.

 

[Laudrups Barnet 55]

No loss to the PL. Dirge football.

Not about the PL or the brand of football. It’s about the people who’ve devoted their life to the club now wondering if they’ll have a team to support in the next few years.

Absolutely fucking grim.

 

[Boldvale]

I feel sorry for the fans, but how in the world do you get in that mess with the guaranteed money from the premiership?

Spending huge amounts of money on dross. I know it's not Everton, but £29 million on Silva is an example of the madness down South.

 

[KensingtonBlue]

Where were they in 2012 when the vultures were circling us?

No sympathy.

 

[Bluejays1972]

money/greed has generally ruined football

 

[No Pyro No Party]

Strip The Titties.