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Doesn’t sound like they are keen.
If Everton are 9 points safe from relegation at the end of the season I wouldn’t be surprised if they go into administration so that the deduction counts for this season and not next.
3 mil and Nile JohnTime for the Braithwaite bid from Levy..... optimal distressed asset.
and
Brian Fantana
Whoever comes in as preferred bidder after 777 will have had time to weigh up what they want to do - I suspect anyone with any interest will have already had a good look at the situation to decide if its potentially interesting.
Given the difference in revenues between being in PL and Championship, buying a club which will remain in PL and survive a couple of years, mean anyone buying will need to put in enough money to reinforce the squad ....... which I suspect is a minimum of say £100m - £200m to buy players on top of any proceeds from selling existing players ....... and that is on top of paying off a lot of Everton's loans so its going to take big pockets.
If that price tag is too high, it means they are prepared to take on Everton as a club in Championship and hope to manage it up to PL. And that might mean they are happy for administration to happen which will tidy up a lot of the finances, although clearly fans and others will not like it.
I've suggested MSP as the most likely bidder as its well positioned with £180m loans to Everton, security over the stadium project and a charge over much of Moshiri's shareholding, but if price tag is too high for them, they would be a useful member of a consortium with deeper pockets.
I think Administrators will only be appointed if nobody steps up to bid as and when 777's bid totally falls apart - so the clock is ticking on people making a bid but wouldn't surprise me if potential bidders weren't given until say end of May to make a formal bid, as its a pretty complicated situation for anyone to take on, and complete any form of due diligence.
Whoever is bidding would need to do a lot of financial modelling which would include ffp/psr and new incoming rules to check the investment would work.
Big problem for anyone is that Everton wages as a % of turnover is already over 90% I think so they will need a plan to offload high earners who are not contributing enough as well as plans (and even draft contracts ) for new sponsors etc to increase revenues.
One advantage of administration maybe that they can cancel some player contracts (ie give players a free transfer), but problem may go deeper where real solution is to ask all players to take a 10% or 20% haircut so as to get within ffp rules which may well be impractical.
Better get the clippers out!
No gomes or dele wages next year, 10-20% cut with little effort
Everton Player Salaries
No gomes or dele wages next year, 10-20% cut with little effort
Everton Player Salaries
www.toffeeweb.com
I suspect Everton need to replace them with better quality players but lower salaries.
The link you posted shows Everton total salaries circa £74m, but most other sources (and implied by the ffp penalties) suggest higher wages costs (allied with amortisation)
eg
Operating expenses, excluding player and management trading, rose to £213.1million (from £205.5m) but the club's total wage-to-turnover ratio increased from 90 per cent to 92 per cent. Total player costs (wages and amortisation) stand at £124 for every £100 of income. (per Athletic)
No gomes or dele wages next year, 10-20% cut with little effort
Everton Player Salaries
It's basically bollocks though
Discrepancies
There are large discrepancies between what various sites report with regard to certain players' earnings.For example, Abdoulaye Doucoure is listed at £120,000 a week by SalarySport but the consensus figure is around £75,000. Amadou Onana, meanwhile, is listed at £100,000 per week by SportTrac, an unlikely figure given his youth and inexperience of the Premier League when Everton signed him in 2022.
Idrissa Gueye who SportTrac peg at £80,000 a week is listed at £130,000 by SalarySport. It is conceivable that the club loaded the midfielder's wages given the comparatively low fee (circa £2m) that they paid Paris Saint-Germain for his services but it's unlikely they went that high. (Sportspayouts.com, meanwhile, suggests Gueye's weekly wage is as low as £60,000 a week.)
Fair only going to miss Harrison and possibly young out of this lot so point stands 10-20% of total wage gone just in expired contracts.
Poor gueye, don’t know how he survives!!
Hope the cunts go bankrupt. With David beckham telling them to eat walkers crisps over the tannoy of their empty stadium in that slightly brain damaged voice of his
After Bonza, an Australian budget airline, owned by 777 'entered voluntary administration' (went bust) a few days ago, putting more uncertainty over 777's bid for Everton, 777's investment in Flair, a Canadian budget airline, came under scrutiny.
Flair has just announced that an affiliate of Flair’s largest senior lender is acquiring the shares in Flair owned by 777 Partners and providing new non-binding debt funding - whether than means 777 were paid hard cash for their shares is unclear. The flip side is that its one less company shares that 777 can use as security for borrowing to finance their bid for Everton.
Overall 777 looks a smaller group with less financial resources than a month ago .............
Flair has just announced that an affiliate of Flair’s largest senior lender is acquiring the shares in Flair owned by 777 Partners and providing new non-binding debt funding - whether than means 777 were paid hard cash for their shares is unclear. The flip side is that its one less company shares that 777 can use as security for borrowing to finance their bid for Everton.
Overall 777 looks a smaller group with less financial resources than a month ago .............
Another day, another story about 777 finances ....
Everton’s prospective new owners have been accused of using “an outright Ponzi scheme” to buy the club after being accused of borrowing “fraudulently” against circa £280 million of assets.
Josh Wander and Steve Pasko of 777 Partners are at the centre of a lawsuit in which the former and “his group of alter ego entities” are alleged to have “pledged” as collateral more than $350m in assets they did not control or “did not exist”.
An 82-page complaint filed in New York by Leadenhall Capital Partners LLP and Leadenhall Life Insurance Linked Investments Fund PLC on Friday branded 777 “a house of cards on the brink of collapse”, adding: ''Everton is the latest shiny object of Wander’s fraudulent scheme.”
The latest claimants against 777 are seeking unspecified damages and a court order barring it from violating its obligations, alleging in their complaint: “To induce Leadenhall to fund their operation, Wander, along with his group of alter ego entities, ‘pledged’ over $350 million in assets as collateral to Leadenhall, knowing all along that the assets either did not exist, were not actually owned by Wander’s entities, or had already been pledged to another lender.
Despite the fact that 777 Partners and many of the operating businesses and professional football teams that Wander owns are deep in debt, behind on their obligations, and on thin ice with regulators, Wander’s strategy has been continued expansion – using debt to acquire new assets that he can then use as collateral for more debt, which he then fails to timely pay off, in a seemingly never-ending cycle of ‘robbing Peter to pay Paul’.
Upon information and belief, Wander and Pasko are operating a giant shell game at best, and an outright Ponzi scheme at worst, that takes money in from investors and lenders and shuffles it around to various money-losing alter egos in the enterprise to disguise their true financial condition.”
(from The Telegraph)
Everton’s prospective new owners have been accused of using “an outright Ponzi scheme” to buy the club after being accused of borrowing “fraudulently” against circa £280 million of assets.
Josh Wander and Steve Pasko of 777 Partners are at the centre of a lawsuit in which the former and “his group of alter ego entities” are alleged to have “pledged” as collateral more than $350m in assets they did not control or “did not exist”.
An 82-page complaint filed in New York by Leadenhall Capital Partners LLP and Leadenhall Life Insurance Linked Investments Fund PLC on Friday branded 777 “a house of cards on the brink of collapse”, adding: ''Everton is the latest shiny object of Wander’s fraudulent scheme.”
The latest claimants against 777 are seeking unspecified damages and a court order barring it from violating its obligations, alleging in their complaint: “To induce Leadenhall to fund their operation, Wander, along with his group of alter ego entities, ‘pledged’ over $350 million in assets as collateral to Leadenhall, knowing all along that the assets either did not exist, were not actually owned by Wander’s entities, or had already been pledged to another lender.
Despite the fact that 777 Partners and many of the operating businesses and professional football teams that Wander owns are deep in debt, behind on their obligations, and on thin ice with regulators, Wander’s strategy has been continued expansion – using debt to acquire new assets that he can then use as collateral for more debt, which he then fails to timely pay off, in a seemingly never-ending cycle of ‘robbing Peter to pay Paul’.
Upon information and belief, Wander and Pasko are operating a giant shell game at best, and an outright Ponzi scheme at worst, that takes money in from investors and lenders and shuffles it around to various money-losing alter egos in the enterprise to disguise their true financial condition.”
(from The Telegraph)