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Can we take a moment to laugh heartily at Everton?

yankspurs

Enic Out
Aug 22, 2013
42,124
71,799
What an absolute mess, place them in administration and relegate them to the National League!

From the BBC:

Everton Search For Investment To Complete 777 Deal
The best thing for Everton at this point is administration as it opens up the possibilities of more suiters with the club having a somewhat cleaner bill of health. But I have a hard time believing the PL would accept that outcome. I anticipate they'll approve 777 & live to regret that in a few years when the situation at Everton is far more dire than it is currently.
 

UncleBuck

Well-Known Member
Aug 20, 2003
9,432
11,551
The Americans have so far loaned £186m to Everton for day-to-day operational costs, with around a further £15m to come by the end of this month.

However, repaying money owed to MSP Sports Capital, whose deal collapsed in August, remains a stumbling block.

So Everton have borrowed against 777 already just to keep them going?
seriously what has Moshiri been putting in if 777 have stumped up that amount and they don’t even own the club?
That’s even worse than what I thought they were!
 

allatsea

Well-Known Member
Aug 31, 2012
9,116
16,499
The Americans have so far loaned £186m to Everton for day-to-day operational costs, with around a further £15m to come by the end of this month.

However, repaying money owed to MSP Sports Capital, whose deal collapsed in August, remains a stumbling block.

So Everton have borrowed against 777 already just to keep them going?
seriously what has Moshiri been putting in if 777 have stumped up that amount and they don’t even own the club?
That’s even worse than what I thought they were!
If 777 doesn't go through then administration must be the only option left.
 

UncleBuck

Well-Known Member
Aug 20, 2003
9,432
11,551
If 777 doesn't go through then administration must be the only option left.
Totally agree but how long can their situation drag on for?
Surely the PL need to put some timescales in now for the start of next season as they can’t go into next season like this.
 

chas vs dave

Well-Known Member
Jul 17, 2008
5,555
22,358
1000009486.jpg
 

Tucker

Shitehawk
Jul 15, 2013
32,055
150,010
Shame for the fans if they go under, but this has been a long time coming. Question is, can they stay out of administration long enough to avoid another points deduction this season?
 

allatsea

Well-Known Member
Aug 31, 2012
9,116
16,499

Trix

Well-Known Member
Jul 29, 2004
20,213
338,237
9 points so potentially they could get a 10 point gap between now and the last game and do it then to avoid doing it next season
From what I understand 9 points for going into administration plus more points for over spending if it doesn't happen during this seasons accounting period.
 

allatsea

Well-Known Member
Aug 31, 2012
9,116
16,499
Perhaps I am being rather slow but why are the FA/PL allowing this supposed 777 takeover to drag on ? They clearly don't have the money to complete the deal and what about funding Everton for next season. Surely they can't past 'fit and proper" (is that the phrase ?) test to be allowed to takeover a PL team.
 

Hazelton

Unknown Member
Jul 11, 2011
5,922
20,855
It's actually insane that a Premier League club can potentially go into administration with the crazy amount of money involved in that league.
 

SirHarryHotspur

Well-Known Member
Aug 9, 2017
5,491
8,269
It's actually insane that a Premier League club can potentially go into administration with the crazy amount of money involved in that league.
Smaller scale club but it happened to Portsmouth.
Everton spent too much in the transfer market on players and have an insane wage to revenue ratio trying to keep up with their neighbours also increased new stadium costs haven't helped either.


PS Any club can get in financial difficulty

By the early 1990s, however, Scholar's Tottenham faced financial troubles due to investment in new players, the construction of a new stand at the club's White Hart Lane ground, and losses in the companies he had created with Tottenham. Scholar looked to Robert Maxwell to help bail the club out.
 
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RJR1949

Well-Known Member
Jan 31, 2013
999
5,718
Everton are royally screwed. There is no prospect of 777 Partners passing the fit and proper test unless and until these allegations are disproved.

Insolvency awaits and probably quite soon.
 
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