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777 Partners é processada por acusação de fraude na Justiça dos EUA
Leandenhall acusa dona da SAF do Vasco de fraude por dar como garantias, fundos que não lhe pertencem para empréstimo
Melbourne Victory
edit In October 2022, 777 Partners bought a minority stake in Melbourne Victory FC of the Australian A-League Men16 for AU$8.7 million. The following January, the club's shareholders voted in favor of allowing 777 Partners to secure up to 70% over the next five years, in exchange for AU$30 million in investment.17
Hertha BSC edit The company took a 64.7% stake in Hertha BSC of the German Bundesliga in March 2023, after its sale by Lars Windhorst, who had been majority shareholder since 2019.[18] Due to German football's 50+1 rule, 777 does not control the club. The company faced protests from Hertha's fans.[14]
Everton bid
edit
In September 2023, 777 Partners agreed to buy Everton F.C. of England's Premier League by purchasing the 94.1% owned by Farhad Moshiri.[19][20] In April 2024, with the deal not complete and after the 777-owned Australian airline Bonza entered voluntary administration, Everton called upon the services of insolvency advisers Teneo.[21]
n star Honda quits
After two successful seasons with Melbourne Victory, Japanese soccer star Keisuke Honda has announced his departure from the club. The 33-year-old midfielder joined the A-League team in 2018 and quickly became a fan favorite with his impressive skills on the field. However, Honda has made the difficult decision to leave Melbourne Victory in order to pursue new challenges and opportunities in his career. The news comes as a shock to many fans and teammates, who have grown to admire and respect Honda for his contributions to the team. Despite his departure, Honda will always be remembered as a key player in Melbourne Victory's recent successes.## Premier League Table

Team
Pld
GD
Pts
12
Wolves
36
-11
46
13
Fulham
36
-4
44
14
Crystal Palace
35
-12
40
15
Everton*
36
-11
37
16
Brentford
36
-8
36
17
Nottingham Forest†
36
-18
29
18
Luton Town
36
-29
26

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## Latest News


Rumour Mill
777 Partners could have their assets in Belgium seized amid problems at Standard Liege
Rumour Mill
Swap deal mooted with Maguire in part-exchange for Branthwaite
Everton U18s lose to Man Utd at Carrington
777 Partners accused of fraud in US lawsuit
Howard lauds Everton and Moyes in HoF speech
Everton earn a draw to keep Luton in relegation danger
777 Partners reportedly seeking funds from new private equity firm
Dyche and Pickford nominated for monthly awards
n on Climate Change
Climate change is a pressing issue that has been at the forefront of global discussions for years. The latest news on climate change continues to highlight the urgency of taking action to mitigate its effects. According to recent reports, the Earth's average temperature has already risen by 1.1 degrees Celsius above pre-industrial levels, and it is projected to continue rising without significant efforts to reduce greenhouse gas emissions. This rise in temperature has led to extreme weather events, such as heatwaves, droughts, and hurricanes, which have had devastating impacts on communities around the world.
In addition to extreme weather events, climate change is also causing the melting of polar ice caps and glaciers, leading to rising sea levels and coastal flooding. This not only poses a threat to low-lying areas and island nations, but it also endangers the lives and livelihoods of millions of people who live near coastlines. Furthermore, the increase in global temperatures has also resulted in ocean acidification, which is harming marine ecosystems and threatening the survival of various species.
The latest news on climate change also sheds light on the disproportionate impact it has on marginalized communities. Developing countries, particularly those in Africa and Asia, are facing the brunt of climate change despite contributing the least to greenhouse gas emissions. These vulnerable communities are already facing challenges such as poverty, food insecurity, and lack of access to basic resources, and climate change exacerbates these issues. It is crucial for developed nations to take responsibility and support developing countries in their efforts to adapt to and mitigate the effects of climate change.
One positive development in the fight against climate change is the growing global awareness and action being taken by individuals and organizations. The youth-led climate strikes and movements, such as Fridays for Future, have gained significant momentum and have put pressure on governments and corporations to take action. In addition, many countries have committed to reducing their carbon emissions through the Paris Agreement, a landmark international treaty aimed at limiting global temperature rise to well below 2 degrees Celsius.
However, despite these efforts, there is still much work to be done. The latest news on climate change also highlights the need for urgent and ambitious actions to be taken by governments, businesses, and individuals to reduce emissions and transition to a sustainable future. This includes investing in renewable energy, promoting sustainable practices, and implementing policies that prioritize the protection of the environment.
In conclusion, the latest news on climate change serves as a reminder of the critical state of our planet and the urgent need for action. The impacts of climate change are already being felt around the world, and if we do not take immediate and decisive action, the consequences will only worsen. It is imperative that we all work together to address this global crisis and protect the planet for future generations.### Site Confiável | Robô Aspirador


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Latest News


Rumour Mill 777 Partners could have their assets in Belgium seized amid problems at Standard Liege Rumour Mill Swap deal mooted with Maguire in part-exchange for Branthwaite Everton U18s lose to Man Utd at Carrington 777 Partners accused of fraud in US lawsuit Howard lauds Everton and Moyes in HoF speech Everton earn a draw to keep Luton in relegation danger 777 Partners reportedly seeking funds from new private equity firm Dyche and Pickford nominated for monthly awards
n: "Scientists Discover New Species of Marine Mammal"
In a groundbreaking discovery, a team of scientists has identified a new species of marine mammal. This latest news has sparked excitement and curiosity in the scientific community, as well as among the general public. The new species, which has been named the "Oceanic Finned Dolphin," was found in the waters off the coast of South America. This discovery not only adds to our understanding of the diverse and complex marine ecosystem, but also highlights the importance of ongoing research and conservation efforts in protecting our oceans and the creatures that call it home.
The Oceanic Finned Dolphin, or Lagenorhynchus oceanus, was first observed by a group of marine biologists during a routine expedition to study the behavior and population of other known marine mammals. The team immediately noticed distinct physical characteristics and behaviors that set this species apart from others. Upon further investigation, they found that the Oceanic Finned Dolphin has a unique body shape, with a long and slender body, a small head, and a prominent dorsal fin. Its coloration is also distinct, with a dark grey back and a lighter belly, making it easily distinguishable from other dolphin species.
But it wasn't just the physical appearance that caught the scientists' attention. The Oceanic Finned Dolphin also exhibited unique behaviors, such as its ability to leap high out of the water and its preference for deep dives. These behaviors have led scientists to believe that this species has adapted to its specific environment and may have evolved differently from other dolphin species in order to thrive in its habitat.
The discovery of the Oceanic Finned Dolphin is significant for several reasons. Firstly, it adds to the already vast diversity of marine mammals that inhabit our oceans. With over 120 known species of marine mammals, this new addition highlights the fact that there is still much to learn about the creatures that live in our oceans. Secondly, it emphasizes the importance of ongoing research and conservation efforts in protecting these animals. The oceans are facing numerous threats, such as pollution, overfishing, and climate change, and it is crucial to understand and protect all species that play a role in maintaining a healthy ecosystem.
Furthermore, the discovery of the Oceanic Finned Dolphin also sheds light on the importance of proper classification and identification of species. With advancements in technology and research methods, scientists are able to identify and differentiate between species more accurately, which is crucial in understanding the biodiversity of our planet.
The news of this new species of marine mammal has generated excitement and interest among the general public as well. Many are eager to learn more about this mysterious creature and its behaviors, as well as the potential impact it may have on the ecosystem. This curiosity and interest in the natural world is a positive outcome of this discovery, as it encourages people to become more aware and invested in conservation efforts.
In conclusion, the discovery of the Oceanic Finned Dolphin is a significant and exciting development in the world of marine biology. This new species adds to the rich diversity of marine mammals and highlights the importance of ongoing research and conservation efforts in protecting our oceans and the creatures that inhabit it. As we continue to explore and learn about the wonders of the ocean, we must also recognize the importance of preserving and protecting it for future generations.### Melbourne Victory
edit In October 2022, 777 Partners bought a minority stake in Melbourne Victory FC of the Australian A-League Men16 for AU$8.7 million. The following January, the club's shareholders voted in favor of allowing 777 Partners to secure up to 70% over the next five years, in exchange for AU$30 million in investment.17
Hertha BSC edit The company took a 64.7% stake in Hertha BSC of the German Bundesliga in March 2023, after its sale by Lars Windhorst, who had been majority shareholder since 2019.[18] Due to German football's 50+1 rule, 777 does not control the club. The company faced protests from Hertha's fans.[14]
Everton bid edit In September 2023, 777 Partners agreed to buy Everton F.C. of England's Premier League by purchasing the 94.1% owned by Farhad Moshiri.[19][20] In April 2024, with the deal not complete and after the 777-owned Australian airline Bonza entered voluntary administration, Everton called upon the services of insolvency advisers Teneo.[21] ### Site Confiável | Torneira Gourmet
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edit During the negotiations to buy Vasco, Brazilian newspaper O Globo revealed that Wander had been convicted in 2004 for ordering cocaine in the mail while a 22-year-old student of the University of Florida.[1]31 Facing a possible 26-year sentence, he pleaded no contest and received 15 years of probation, that ended in 2018.[32]1 Wander's conviction has been brought up in the media, and in an interview with the Financial Times he called it a "stupid college thing" and a "perfect opportunity for those people that are haters to try to destroy you with things that are somewhat meaningless".33 Norwegian football investigation website Josimar wrote in 2023 that 777 was facing allegations of financial impropriety, including fraud and unpaid bills. 777 condemned Josimar's article as "wholly misleading".14 777 Partners have been sued by multiple organizations for unpaid debts and contract breaches with lawsuits describing their financial practices as a "house of cards"[34][35]36 and a "sprawling fraudulent enterprise".[37]38
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Premier League Table

Team
Pld
GD
Pts
12 Wolves 36 -11 46 13 Fulham 36 -4 44 14 Crystal Palace 35 -12 40 15 Everton* 36 -11 37 16 Brentford 36 -8 36 17 Nottingham Forest† 36 -18 29 18 Luton Town 36 -29 26
There can be no more advocating for Moshiri, nor any advocating for his choice of 777 Partners. All of us, from match going fans, more distant Blues, through to nationally recognised politicians have to step in and ensure our rescue.
Paul The Esk 05 May 2024 33comments (last) The startling submission, accusations and evidence submitted to the United States District Court, Southern District of New York, by UK-based Leadenhall Capital (and others) against Josh Wander, Steve Pasko, Kenneth King, 777 Partners, A-Cap (and others) on the 3 May 2024 provide perhaps the most compelling evidence yet of what many, including myself, have suspected. Namely that 777 Partners and A-Cap, in their various forms and through the actions of their principals, Wander, King and Pasko, are less than the sum of their parts. Months of research provides mountains of fact-based evidence of questionable business practices, the most bizarre of financing arrangements, and a huge inter-dependency between King and Wander in particular, to keep their failing enterprises functioning. The submitted Court papers are available here: Leadenhall Capital Partners LLP (& others) v Wander, Pasko, King, 777 Partners A-Cap (& others) What started as a desire to understand the would-be owners of Everton Football Club has grown into a multiple media, regulatory and more, examination initially of their multi-club model and its finances, to one that includes airlines, aircraft leasing, institutional lending and investing plus, perhaps most sadly, the future security of clients of several insurers and re-insurers in the United States and Bermuda particularly.
Article continues below video content
The significance of this funding model, business practices and seeming regulatory ignorance will reshape the US insurance market and its relationship with private equity and offshore re-insurers. Closer to home, from football’s perspective, it will shine light on many other private equity funded football acquisitions and the growth (abuse?) of the multi-club model.
Everton’s non-response
Despite the huge significance of the above, a significance which grows with each passing news article, Moshiri, and de facto, Everton, have remained tight-lipped.
Throughout this huge piece of work undertaken by football fans, journalists, regulators and now the US Courts, there has remained a small number of constants. From an Everton perspective, they are Moshiri’s insistence that 777 Partners collectively remain suitable and appropriate purchasers of his shares, and Everton Football Club’s continued silence regarding the takeover, the impact the delay has had on the club, and the alternative strategies or choices when the 777 bid ultimately fails.
For Evertonians, this is the really important topic. Our seemingly non-functioning board provides no reassurance to fans, stakeholders and commercial partners. Not only that but there is no justification for their choice other than the shortest of (non-evidence-backed) explanations back in September 2023.
Moshiri, as owner, has all but disappeared. He communicates sporadically with a small number of media contacts via his PR Company, trotting out the same mantra that everything will be fine. Indeed, echoing the words of Josh Wander and his PR company, never fully explaining the delays but promising a solution in the near future.
What sort of way is that to run a football club? What sort of way is that to treat fans? What sort of way is that to treat employees, commercial partners and others? How can one (Moshiri) be so contemptuous of those whose lives this impacts most of all?
What sort of person forces communications staff to feed media and fans alike a narrative that daily and with growing evidence becomes less and less credible?
What sort of person puts his manager and players through all the machinations of this season, whilst ultimately knowing his chosen solution will never come to fruition?
What sort of person forces individuals to compromise their careers and probably their own integrity whilst in the employment of Everton to cover for his 8 years of ineptness, and his greatest folly, his choice of 777 Partners?
Somebody at Everton has to burst this Moshiri-induced narrative, that the current situation will be resolved successfully, and that 777 have a viable future ahead for themselves but specifically, for Everton. That is clearly not the case. We, as a club, have to rise from this sense of denial and face the reality of the situation. We need leadership from within either to promote alternatives or accept reality.
The reality of continuing down this path is administration – 777’s failure to complete (which should have been recognised 8 months ago) and the inability to continue funding losses and capital expenditure has only one outcome unless a solution is permitted to enter.
The audited accounts pointed in the gravest manner as to the risks ahead for Everton, and that was on the basis of a successful takeover by a solvent, funded and credible acquirer, assumed to be completed in “early 2024”. That is clearly not the case, nor ever will be if 777 Partners remain in the frame.
What are the alternatives?
(i) Moshiri allows the creditors to restructure the club’s finances, form a functioning board and allow other investors to acquire a going concern;
(ii) The club enters administration as funding and perhaps creditor support ceases.
With regards to (i), this is a viable option. Without entering into details, options are available; however, it requires Moshiri to recognise this as the only viable, non-administration option. It would allow sensible debt restructuring and the introduction of the fabled investors “waiting in the wings”. It is an option though that becomes less viable and more expensive as time goes by. There has always (in my mind) been an urgency to this, that urgency has increased many times over in recent days.
777 Partners and associated parties
The civil case brought about by Leadenhall Capital has huge significance. It is, of course, a series of allegations albeit backed by evidence provided by Wander himself via recorded, verbal confessions. I do not wish to prejudice the case. In a sense, the existence of this civil case and its allegations, plus other accusations and investigations elsewhere, provide the background by which it is impossible to see 777’s survival and perhaps even that of A-Cap, the insurer, regardless.
The bringing to Court by Leadenhall of allegations of double pledging assets used as security will have every other lender to 777 Partners et al scrambling to ascertain the status of their security arrangements. The public assertion that each of 777’s assets are ultimately pledged to A-Cap renders (if wholly accurate) all other security arrangements worthless.
At best, it stops instantly all future funding; at worst, lenders will attempt to call in their loans. 777 Partners do not have the liquidity to satisfy such demands, nor do their underlying investments have ready buyers. Most investments are illiquid, under- or non-performing, and worth much less than the value booked on the balance sheets.
If, as the Court documents suggest, ultimately A-Cap hold all the security, they, by regulatory pressure at least, will be forced sellers of 777’s assets and face all the liquidity and valuation issues described above. In reality, given their current regulatory status, this decision will be taken out of the hands of Kenneth King (CEO of A-Cap) and placed in the hands of the State regulatory administrators.
It is a particularly grim scenario, particularly if as would seem likely, A-Cap’s live insurers would have to cease writing new business, there would be significant asset write-downs, and no doubt, further rating write-downs.
As is already evidenced by the administration of Bonza, the sale of its Flair shareholding, and the disposal of their airplane leasing business, AIP, to A-Cap, 777 Partners were finding it incredibly difficult to operate. It’s widely acknowledged within the football world that 777’s other football clubs are available for sale.
As has been well documented throughout, even before this crisis, 777 faced huge problems, cash negative, under- or non-performing assets, and denied access to new lending sources. Now, the scene looks even worse, and there can be no viable prospect of their business surviving (in my opinion).
What happens to Everton’s debt to 777 Partners?
Clearly, if 777 Partners or possibly A-Cap are in a default position, their administrators would look to recover from their debtors. Everton’s debt to 777 Partners ranks the least senior of the secured creditors – football creditors, MSP, Metro Bank and Rights & Media Funding all ranking above them. The prospects of full recovery are therefore slight.
What recourse 777 Partners (or their administrators) have is entirely dependent upon the various loan agreements in place. It’s a much greater problem for 777 than Everton. However, it clearly cuts off any additional funding to Everton.
Hence Everton will have to find alternatives very quickly, whether they be Moshiri, existing lenders or potential investors. The opening of the transfer window next month would (however regrettably) provide a backstop – not that we want to get to that point.
Back to Moshiri
Everton were not in a clean bill of health when acquired by Moshiri in 2016; however, it is obvious to all how much the club's circumstances have deteriorated despite the ongoing stadium build ( – if being generous).
Moshiri’s misjudgements have been colossal – in every area he has touched. None more so than his choice of 777 Partners as potential, would-be purchasers. Every Evertonian, the Fan Advisory Board, the EFCSA, local and national politicians have to make it clear that his involvement is no longer welcome, that his judgement is so unsound as to not be trusted in any future decision over the club.
An interim, genuine management board has to be put in place immediately. People experienced and versed in corporate recovery, seeing off the threat of administration if possible, restructuring the company to sell to sensible, well-funded purchasers. Otherwise, it falls into the hands of administrators and all the pain that that brings.
There can be no more advocating for Moshiri, nor any advocating for his choice of 777 Partners. All of us, from matchgoing fans, more distant Blues, through to nationally recognised politicians, have to step in and ensure our rescue. It should have happened months ago; it didn’t, but it must now.
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Reader Comments (33)
Note: the following content is not moderated or vetted by the site owners at the time of submission. Comments are the responsibility of the poster. Disclaimer ()
Peter Hodgson
1 Posted
05/05/2024 at
20:59:56
Okay so most readers will accept that the Esk doesn't, and never has, liked 777 and so therefore may read this piece as him having another go at 777. That may be so but it shouldn't deflect from the essential message that the piece is shouting, as long as we look at it with our eyes very much open.We are really in the mire if all this current act of the circus is happening. If his speculation is accurate the 777 house of cards is not going to set tumbling by the Premier League but by someone in the States. Can we withstand that happening without having a back stop in place? Unlikely.The other question that springs to mind is, did Moshiri see (or have inside information about it) that prompted him to engage the rumoured consultants he has brought in recently? Maybe. If so, not a second too soon, but it is understandable he hasn't broadcast that, if that is the case because it is a matter of staying as many steps ahead of things as possible.So where does that leave us? Basically still in the brown stuff but of a different sort of brown stuff than we were in before. And potentially deeper brown stuff than we have experienced before.The Esk fails to mention that there are White Knight(s) which I understand that he has said before (I may be wrong on that point and apologise if so). So the work of the consultants, as suggested by The Esk, should therefore start immediately. No delays.
Gerry Quinn
2 Posted
05/05/2024 at
21:11:13
Don't you wish us Evertonians had mega-fortunes, Paul? So frustrating with these greedy buggers who don't really have any interest in the actual club! Was so desperate to win the US Lottery of + $1 billion last month...
Mike Gaynes
3 Posted
05/05/2024 at
21:23:28
"(i) Moshiri allows the creditors to restructure the club’s finances, form a functioning board and allow other investors to acquire a going concern;"This appears to be the portfolio of GDA Luma, the reputed new player in 777's game. Unlike 777, GDA has extensive restructuring experience -- and some serious money behind it.
Larry O'Hara
4 Posted
05/05/2024 at
21:30:17
As you say, Paul, 777 are toast….But I do not see any White Knights.The situation is indeed dire.
Pat Kelly
5 Posted
05/05/2024 at
21:52:42
It's all sub judice for now.All that's been concluded in the article is that “the startling submission, accusations and evidence submitted to the United States District Court” confirms suspicion that 777 “are less than the sum of their parts”. We've had a football team that's been less than the sum of its parts for ages. A more serious finding will be required to prevent 777 from acquiring Everton. These claims and counter claims could take a very long time to resolve. No one's goose has been cooked yet. Lawyers have to make a living. Let's not hold our breath.
Peter Hodgson
6 Posted
05/05/2024 at
22:04:30
The link in the piece, which I thoroughly recommend having a look at (but not for too long 'cos you go goggle eyed) is the court documents for the case Leadenhall has brought is 82 pages long but explains to some extent the case. The legal action, if it goes to court, will take forever and cost a fortune. It will be complicate and too complicated for the layman. But do partially familiarise with it. It is worth it. Link here: https://theesk.org/wp-content/uploads/2024/05/Leadenhall-Capital-Partners-LLP-v-Wander-Pasko-777-Partners-etc.pdf
Michael Kenrick
7 Posted
05/05/2024 at
22:07:29
In context, this is a long-running case that predates any involvement 777 Partners have with Everton. Also in context, lawyers have been known to exaggerate somewhat when putting forward their arguments in an effort to persuade. It remains to be seen what impact, if any, these claims have outside of the US District Court — and more crucially, when they will have any impact. Such a case could take months to be heard, and could drag on for months or even years. Meanwhile, 777 Partners have provided and continue to provide the funds Everton need to carry on their day-to-day business and pay Laing O'Rourke for the ongoing construction of Moshiri's wonderful new stadium at Bramley-Moore Dock. Just sayin’.
Peter Hodgson
8 Posted
05/05/2024 at
22:15:21
Quite correct, Michael. But if it means that 777 are no more, then we, as things stand, are buggered too. So we should prepare for life without them.
Ed Prytherch
9 Posted
06/05/2024 at
02:45:13
The case in the NY court could drag on but in the meantime 777 will be unable to access more external funds. Regulators in Utah and South Carolina took action a few weeks ago to stop A-CAP linked companies selling policies in their states. Others will surely follow. I cannot see 777 making any more loans to EFC. The Premier League do not have to disqualify 777 because they know that their bid for EFC is dead.
Mike Gaynes
10 Posted
06/05/2024 at
03:23:08
Ed #9, according to the Bloomberg report about GDA Luma, 777 is already accessing more external funds.
Don Alexander
11 Posted
06/05/2024 at
03:41:10
777 have by now repeatedly displayed themselves to the entire world as charlatans, thus far utilising Ponzi machinations to enrich themselves to the cost of their "ordinary" investors' expectations.A so-called genius accountant would be able to see through them in an hour, but alas, we don't have one. BMD is irrelevant in terms of Everton Football Club's future prosperity for decades, on account of Moshiri.He's digging us a grave in plain sight from which we are likely to perish. He is in French terms "une chatte", indulged by our very own self-serving c**t, Kenwright.
Mike Gaynes
12 Posted
06/05/2024 at
03:47:09
Anyone who can access the New York Times should read the NY Times Magazine article entitled When a Bunch of Bloody Yanks Came For English Soccer. I cannot link it here, but it's a great read, particularly in its comparison of the mess Boehly has made at Chelsea (the same Boehly who may be backing GDA Luma's move with 777) to the amazing resurrection of Villa by Edens and Sawiris. Why would a Yank and an Egyptian buy a collapsing club in a bad Birmingham neighborhood just ahead of bankruptcy? Here's why:It was probably inevitable that venture capitalists and hedge-fund managers would discover English soccer. The clubs, from the famous ones to those in leagues further down that have plumbers and shop clerks playing part time, enjoy support that most American teams can only envy... It doesn't hurt that they seem wildly undervalued compared with other sports investments. To take just one example, the San Diego team entering MLS next year, a league that’s 30 years old, is paying a $500 million expansion fee to join; Bill Foley paid less than a third of that in 2022 to buy A.F.C. Bournemouth.At the same time, underpriced tickets and bad food have provided a significant opportunity for economic growth — “low-hanging fruit,” as investors tended to describe it. So has the propensity of English fans to arrive moments before games and leave right after. Get them to spend more time at the stadium, like their American counterparts, and they might have a meal there. They might linger at an expanded club shop selling branded versions of everything from license-plate frames to dog beds. An N.B.A. owner once told me that a successful sports team should be a kind of mutual fund of businesses, across categories that include entertainment, digital content, apparel, hospitality, even real estate. Until recently, most English soccer clubs were in one business: staging games. And they didn’t do it particularly well.Note the words "real estate" in that list. To monetize his Villa investment, Edens plans to develop the land around Villa Park.And in my uninformed opinion that's where the appeal of Everton lies. The development part at BMD is already almost done. Add to that the marketing we've never done, the gear we've never tried to sell, the corporate hospitality we've never hosted, and the potential just keeps adding up. If the club can stay up for one more season and ensure its PL revenue stream sufficient to survive, the eventual buyer could be unearthing a diamond mine. All hope and speculation, of course. But the parallels to Villa's situation five years ago are striking. And they'll be in the Champions League next season.
Don Alexander
13 Posted
06/05/2024 at
04:27:24
Mike, no disrespect intended at all but your speculation, like mine, derives from Moshiri and the EPL buffoon hierarchy providing any info at all on the otherwise massive shortcomings of 777 and Everton itself given the EPL draconian sanction/s against us.We're all in a fog, just where corrupt entities want us to forever remain.
Alan J Thompson
14 Posted
06/05/2024 at
06:29:32
So will the Premier League come out and declare 777 as not meeting their criteria as suitable owners or will they await the outcome of the Leadenhall proceedings using the excuse that they cannot comment while the matter is before the Courts, which in Everton's case it isn't, or is it?
Laurie Hartley
15 Posted
06/05/2024 at
07:09:09
Paul - from your OP:"An interim, genuine management board has to be put in place immediately." Perhaps this is a stupid question but are you saying replace the board and if so who exactly has the authority to do that???? The Club website states that the current board consists of Moshiri, John Spellman and Colin Chong.
Derek Thomas
16 Posted
06/05/2024 at
08:00:01
Alan @ 14; Even though 777 are on their 3rd? or 4th? 'put up or shut up' deadline, the 'Innocent until proven guilty' thing will 'allow' The Premier League to do little or nothing, not that they seem too keen anyway.I don't know how many wheels 777 started with on their Wacky Racers Financial-Mobile - but there can't be many left - hopefully.Altogether now..."One wheel on my wagon and I'm still rolllin' along"
Laurie Hartley
17 Posted
06/05/2024 at
08:12:21
Peter # 6 - well I have just spent an hour going through your linked document. It is too complicated for me to understand completely but what I do understand in it has my head spinning.
Adrian Evans
18 Posted
06/05/2024 at
09:21:15
Moshiri may not be allowed to invite another buyer by outside influencer? It doesnt take much imagination to think who that is!!But if the Premier League turn down 777 Partners, then he has no option.If MSP Capital, AJ Bell, others say No!! 777 are out then, no choice.It needs a well capitilised company, consortium, or individual to come in and buy Everton. Clear the mess up of debt, north of £500M, pay off Moshiri, finish the stadium.Clearly they will need to keep Everton afloat for 3 or 4 months.Premier League tests to pass. But Sir Jim Ratcliffe took only 12 weeks. So by September the new owners can be in place.Moshiri can agree investment whilst it’s being sorted. Or, if we can be docked 12 points this season, win against Blades and we have enough points.Clear some debt. But that’s not fair to MSP, AJ Bell, et al. There has to be a sensible way to keep us afloat, pay everyone off.The next week will be crucial:US companyQatari State FundAN Other.But 777 has to be told “No – you’re out!”
Simon Jones
19 Posted
06/05/2024 at
09:35:44
Mike #12, May be the most interesting post I've ever read on TW?! So all we need is a US-based-venture-capital-hedge-fund-thingy, just not the potential one we are currently shackled with, and we've all got to have dinner at the match?Aside from the above, I got a freebie at Leicester City a couple of years back (Mykolenko's rocket) were there was a Sunday dinner beforehand, few beers, bit of entertainment and good seats. It was a very enjoyable way to see (experience) the game, so I can see the point of what you've posted, but it is a big change for most fans' match-going experience.
Tony Abrahams
20 Posted
06/05/2024 at
10:16:15
Whoever buys Everton has immediately got to send their marketing into overdrive.The scope is incredible. I drove into town yesterday at 11:15 am and I have genuinely never seen so many people on Dale Street, mostly walking towards the riverwhilst enjoying the sun.A lot of these people were dressed in the colours of Liverpool FC but there were also a lot of people wheeling suitcases. Our city, has suddenly become a very popular place and it's time Everton Football Club, started trying to create The Blue Everton Quarter in this very part of town.Dale Street, Old Hall Street is only really the business quarter from Monday to Friday but this is going to be the first port of call for most Evertonians leaving the new stadium (especially until around the ground is developed for people to stay around and drink with friends – a la County Road) and also the area around Castle Street has got many fantastic establishments and most Evertonians are coming back to town.Let's start reclaiming our city, because we will soon be the team from town.
John Bourne
21 Posted
06/05/2024 at
11:48:36
And yet, despite all of the aforementioned, Moshiri sees 777 Partners as the best option to facilitate the sale of the club.It begs the question, Why?The elephant is in the room for all to see.
Mark Taylor
23 Posted
06/05/2024 at
15:27:08
If I was Colin Chong, I would be seriously considering resigning as a director (even if not from his actual job). If you continue when you are aware that the entity isn't solvent, you can be in big trouble.I think the point has been reached whereby the imminent takeover by 777 is not only not imminent but not happening and since Moshiri isn't going to provide liquidity, insolvency is enough of a risk to make a director feel very uneasy.
Jerome Shields
24 Posted
06/05/2024 at
15:43:07
Don#13It is a absolute fog.Even Metro, R&FM and MSP Sports Capital will be thinking the same.It probably has been a fog for some time.I can't see anyone doing anything, only MSP Sports seeking redress if their loan is not satisfied.But we will be told nothing dependent on what comes out in the wash.As for A Cap and the 777 Partners legal and regulatory problems.They are rooted in the Baby Boomer Trillion USA Pension and Derivatives Market with probable Worldwide Economic Repercussions.I expect the Federal Reserve to step in.Which is way over Evertonian heads and most Professional Financial Analysts.
Jerome Shields
25 Posted
06/05/2024 at
15:44:49
Paul the EskDo you know the source of the recent payment of funds that Everton received to fund them to end of the season?
Brian Harrison
26 Posted
06/05/2024 at
16:07:53
Brian Harrison
27 Posted
06/05/2024 at
16:07:53
I would hope when the Government appoint an independent regulator that he also has the power to bring owners who are doing nothing to stop their club sliding into administration before a select committee to answer questions. Because at the moment the Premier league is powerless to stop unscrupulous owners from allowing their clubs to go into administration or worse.The fans are powerless to do anything, yes we can take to the streets to protest about our incompetent board but seemingly there is nothing any fans can do but accept whatever the outcome is. I think we can take it that seeing Moshiri has not said a thing then he still thinks 777 are the ideal people to take over the club.
Tony Abrahams
28 Posted
06/05/2024 at
16:24:58
Latest wattsapp messages are saying it’s now come on top for 777 in Belgium as well.
James Hughes
29 Posted
06/05/2024 at
16:39:19
James Hughes
30 Posted
06/05/2024 at
16:39:19
James Hughes
31 Posted
06/05/2024 at
16:39:19
Ed Prytherch
32 Posted
06/05/2024 at
16:49:54
Mike Gaynes, The game day experience is influenced by disposable income. The median personal disposable income in the US is $46K and is $25K in the UK. Most fans in the UK cannot afford to spend US style.https://en.wikipedia.org/wiki/Disposable_household_and_per_capita_income#Median_equivalised_disposable_income
James Flynn
33 Posted
06/05/2024 at
17:45:13
Tony (28) - ThanksIt's from Josimar:"The Repo men?The two main creditors of 777 Partners in Belgium are asking for the seizure of all assets held by the US investment fund in the country after it failed to respect payment deadlines.By Philippe Auclair and Paul BrownJosimar has regularly reported on the financial problems encountered by 777 Partners’ Belgian club Standard de Liège since the Miami-based investment fund took control of the club in the spring of 2022. The club, which is still heavily in debt despite 777’s regular capital raises, lost over 20 million euros net in 2022-23 and has publicly admitted it has struggled to meet its commitments towards staff, business partners and suppliers. This earned the club two transfer bans by the Belgian regulator in June and December 2023, which were later lifted. Some of these suppliers have been waiting for six months and more for their due, whilst salaries and bonuses have regularly failed to be paid on time.As reported here, 777 Partners recently defaulted on two tranches of payment owed to Standard’s former owner Bruno Venanzi and to the shareholders of the Immobilière du Standard, the company which owned the club’s famous Stade de Sclessin. Among those shareholders, alongside Venanzi, are former star players of les Rouches such as Edmilson Jr and former Belgian internationals Nacer Chadli and Axel Witsel. The second tranche, worth 3.5 million euro, should have been paid on 15 April. Venanzi is believed to be owed about the same amount of money.Lead photo: Former Standard de Liège Bruno Venanzi (l.) with Josh Wander (r.) and Standard CEO Pierre Locht (partly obscured)According to information received by Josimar and confirmed by multiple sources in Belgium, the affair has now been escalated by 777’s two main creditors, who are seeking a seizure of the assets owned by the US investment fund in the country – in which official papers seen by Josimar make it clear that any such disputes must be settled. Two complaints were filed on Monday 6 May, one by Venanzi, the other by the shareholders of the Immobilière. These assets include the shares ceded by Venanzi in 2022 as well as the stadium itself. In other words, the claimants are seeking a complete repossession of the assets they sold to 777 Partners (*).Double-pledging assetsThe sums involved may seem negligible – an estimated 8 million euro in total if other, lesser creditors are taken into account – in view of 777’s claims that they manage a portfolio worth up to 10 billion US dollars, and have managed to find close to 200 million pounds sterling to prop up Everton FC in the hope that their proposed takeover, on which they shook hands with owner Farhad Moshiri in September of last year, is finally rubber-stamped by the Premier League. It should be added that this prospect looks increasingly remote as another court action, this time by Leadenhall Capital Partners LLP and Leadenhall Life Insurance Linked Investments Fund Plc, one of their main sources of funding in the past, accuses Josh Wander’s and Steven Pasko’s group of companies of fraud and double-pledging assets on a colossal scale in a suit filed with the US District Court, Southern District of New York.The money seems to have dried up almost completely, now that long-time backer Kenneth King, the owner of the A-CAP group of companies, announced in February that he would be ‘disinvesting’ from 777-controlled entities. Since this announcement, made in an online seminar, a subsidiary of A-CAP, AIP Capital, has repossessed a fleet of 30 Boeing 737 Max-8 previously on 777 Partners’ books and operated by their Australian aviation venture Bonza. The ultra-low cost airline has collapsed as a result, grounding its own fleet, laying off hundreds of employees without pay, and entering into voluntary administration. In view of the modest sums involved, this court case might appear just another bump in the rocky road on which 777 Partners have been travelling in their journey into football. What will worry Wander and his associates is the speed at which the affair will be examined by Belgian justice, which could take as little as ten days to deliver a verdict. Should Venanzi and the Immobilière prove their point, 777 Partners risk losing a club they had vowed to bring back into Europe and has only just escaped relegation in the worst-ever season in their 125 year history. The impact this would have on the rest of their football empire could not be underestimated, with Genoa CFC, in particular, said to experience late payment issues similar to those which have afflicted Standard for well over a year.Within the club, the mood is grim, as expressed by their American right-back Marlon Fossey who, after yet another defeat – 3-1 to Oud-Heverlee this time, on Sunday – summed up the situation in the following terms. “Things are out of our control”, he said. “We must stick to our place, to do what we are paid for… (pause) when we are paid.”https://josimarfootball.com/2024/05/06/the-repo-men/
Mike Gaynes
34 Posted
06/05/2024 at
18:14:53
Ed #32, I'm just pointing out the reasons that these Yank investors see opportunity in the UK football market. And they see the obscene returns that the Glazers have pocketed, and they've seen the club across the park nearly triple in value in the 14 years since FSG bought it, and they want in. That's why half the clubs in league now have Yank owners. The Yanks have the cash, and they know how to monetize a sports operation.
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Melbourne Victory
edit In October 2022, 777 Partners bought a minority stake in Melbourne Victory FC of the Australian A-League Men16 for AU$8.7 million. The following January, the club's shareholders voted in favor of allowing 777 Partners to secure up to 70% over the next five years, in exchange for AU$30 million in investment.17
Hertha BSC edit The company took a 64.7% stake in Hertha BSC of the German Bundesliga in March 2023, after its sale by Lars Windhorst, who had been majority shareholder since 2019.[18] Due to German football's 50+1 rule, 777 does not control the club. The company faced protests from Hertha's fans.[14]
Everton bid
edit
In September 2023, 777 Partners agreed to buy Everton F.C. of England's Premier League by purchasing the 94.1% owned by Farhad Moshiri.[19][20] In April 2024, with the deal not complete and after the 777-owned Australian airline Bonza entered voluntary administration, Everton called upon the services of insolvency advisers Teneo.[21]
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Melbourne Victory's leading goal scorer and star striker, Ola Toivonen, is rumored to be leaving the club. After two successful seasons with the Australian team, the Swedish forward is said to be seeking a new challenge elsewhere. This news comes as a shock to fans and teammates alike, as Toivonen has been a crucial player for the Victory since his arrival in 2018. However, it seems that the time has come for Toivonen to move on from Melbourne and explore new opportunities. ### Site Confiável | Roku Express
There can be no more advocating for Moshiri, nor any advocating for his choice of 777 Partners. All of us, from match going fans, more distant Blues, through to nationally recognised politicians have to step in and ensure our rescue.
Paul The Esk 05 May 2024 33comments (last) The startling submission, accusations and evidence submitted to the United States District Court, Southern District of New York, by UK-based Leadenhall Capital (and others) against Josh Wander, Steve Pasko, Kenneth King, 777 Partners, A-Cap (and others) on the 3 May 2024 provide perhaps the most compelling evidence yet of what many, including myself, have suspected. Namely that 777 Partners and A-Cap, in their various forms and through the actions of their principals, Wander, King and Pasko, are less than the sum of their parts. Months of research provides mountains of fact-based evidence of questionable business practices, the most bizarre of financing arrangements, and a huge inter-dependency between King and Wander in particular, to keep their failing enterprises functioning. The submitted Court papers are available here: Leadenhall Capital Partners LLP (& others) v Wander, Pasko, King, 777 Partners A-Cap (& others) What started as a desire to understand the would-be owners of Everton Football Club has grown into a multiple media, regulatory and more, examination initially of their multi-club model and its finances, to one that includes airlines, aircraft leasing, institutional lending and investing plus, perhaps most sadly, the future security of clients of several insurers and re-insurers in the United States and Bermuda particularly.
Article continues below video content
The significance of this funding model, business practices and seeming regulatory ignorance will reshape the US insurance market and its relationship with private equity and offshore re-insurers. Closer to home, from football’s perspective, it will shine light on many other private equity funded football acquisitions and the growth (abuse?) of the multi-club model.
Everton’s non-response
Despite the huge significance of the above, a significance which grows with each passing news article, Moshiri, and de facto, Everton, have remained tight-lipped.
Throughout this huge piece of work undertaken by football fans, journalists, regulators and now the US Courts, there has remained a small number of constants. From an Everton perspective, they are Moshiri’s insistence that 777 Partners collectively remain suitable and appropriate purchasers of his shares, and Everton Football Club’s continued silence regarding the takeover, the impact the delay has had on the club, and the alternative strategies or choices when the 777 bid ultimately fails.
For Evertonians, this is the really important topic. Our seemingly non-functioning board provides no reassurance to fans, stakeholders and commercial partners. Not only that but there is no justification for their choice other than the shortest of (non-evidence-backed) explanations back in September 2023.
Moshiri, as owner, has all but disappeared. He communicates sporadically with a small number of media contacts via his PR Company, trotting out the same mantra that everything will be fine. Indeed, echoing the words of Josh Wander and his PR company, never fully explaining the delays but promising a solution in the near future.
What sort of way is that to run a football club? What sort of way is that to treat fans? What sort of way is that to treat employees, commercial partners and others? How can one (Moshiri) be so contemptuous of those whose lives this impacts most of all?
What sort of person forces communications staff to feed media and fans alike a narrative that daily and with growing evidence becomes less and less credible?
What sort of person puts his manager and players through all the machinations of this season, whilst ultimately knowing his chosen solution will never come to fruition?
What sort of person forces individuals to compromise their careers and probably their own integrity whilst in the employment of Everton to cover for his 8 years of ineptness, and his greatest folly, his choice of 777 Partners?
Somebody at Everton has to burst this Moshiri-induced narrative, that the current situation will be resolved successfully, and that 777 have a viable future ahead for themselves but specifically, for Everton. That is clearly not the case. We, as a club, have to rise from this sense of denial and face the reality of the situation. We need leadership from within either to promote alternatives or accept reality.
The reality of continuing down this path is administration – 777’s failure to complete (which should have been recognised 8 months ago) and the inability to continue funding losses and capital expenditure has only one outcome unless a solution is permitted to enter.
The audited accounts pointed in the gravest manner as to the risks ahead for Everton, and that was on the basis of a successful takeover by a solvent, funded and credible acquirer, assumed to be completed in “early 2024”. That is clearly not the case, nor ever will be if 777 Partners remain in the frame.
What are the alternatives?
(i) Moshiri allows the creditors to restructure the club’s finances, form a functioning board and allow other investors to acquire a going concern;
(ii) The club enters administration as funding and perhaps creditor support ceases.
With regards to (i), this is a viable option. Without entering into details, options are available; however, it requires Moshiri to recognise this as the only viable, non-administration option. It would allow sensible debt restructuring and the introduction of the fabled investors “waiting in the wings”. It is an option though that becomes less viable and more expensive as time goes by. There has always (in my mind) been an urgency to this, that urgency has increased many times over in recent days.
777 Partners and associated parties
The civil case brought about by Leadenhall Capital has huge significance. It is, of course, a series of allegations albeit backed by evidence provided by Wander himself via recorded, verbal confessions. I do not wish to prejudice the case. In a sense, the existence of this civil case and its allegations, plus other accusations and investigations elsewhere, provide the background by which it is impossible to see 777’s survival and perhaps even that of A-Cap, the insurer, regardless.
The bringing to Court by Leadenhall of allegations of double pledging assets used as security will have every other lender to 777 Partners et al scrambling to ascertain the status of their security arrangements. The public assertion that each of 777’s assets are ultimately pledged to A-Cap renders (if wholly accurate) all other security arrangements worthless.
At best, it stops instantly all future funding; at worst, lenders will attempt to call in their loans. 777 Partners do not have the liquidity to satisfy such demands, nor do their underlying investments have ready buyers. Most investments are illiquid, under- or non-performing, and worth much less than the value booked on the balance sheets.
If, as the Court documents suggest, ultimately A-Cap hold all the security, they, by regulatory pressure at least, will be forced sellers of 777’s assets and face all the liquidity and valuation issues described above. In reality, given their current regulatory status, this decision will be taken out of the hands of Kenneth King (CEO of A-Cap) and placed in the hands of the State regulatory administrators.
It is a particularly grim scenario, particularly if as would seem likely, A-Cap’s live insurers would have to cease writing new business, there would be significant asset write-downs, and no doubt, further rating write-downs.
As is already evidenced by the administration of Bonza, the sale of its Flair shareholding, and the disposal of their airplane leasing business, AIP, to A-Cap, 777 Partners were finding it incredibly difficult to operate. It’s widely acknowledged within the football world that 777’s other football clubs are available for sale.
As has been well documented throughout, even before this crisis, 777 faced huge problems, cash negative, under- or non-performing assets, and denied access to new lending sources. Now, the scene looks even worse, and there can be no viable prospect of their business surviving (in my opinion).
What happens to Everton’s debt to 777 Partners?
Clearly, if 777 Partners or possibly A-Cap are in a default position, their administrators would look to recover from their debtors. Everton’s debt to 777 Partners ranks the least senior of the secured creditors – football creditors, MSP, Metro Bank and Rights & Media Funding all ranking above them. The prospects of full recovery are therefore slight.
What recourse 777 Partners (or their administrators) have is entirely dependent upon the various loan agreements in place. It’s a much greater problem for 777 than Everton. However, it clearly cuts off any additional funding to Everton.
Hence Everton will have to find alternatives very quickly, whether they be Moshiri, existing lenders or potential investors. The opening of the transfer window next month would (however regrettably) provide a backstop – not that we want to get to that point.
Back to Moshiri
Everton were not in a clean bill of health when acquired by Moshiri in 2016; however, it is obvious to all how much the club's circumstances have deteriorated despite the ongoing stadium build ( – if being generous).
Moshiri’s misjudgements have been colossal – in every area he has touched. None more so than his choice of 777 Partners as potential, would-be purchasers. Every Evertonian, the Fan Advisory Board, the EFCSA, local and national politicians have to make it clear that his involvement is no longer welcome, that his judgement is so unsound as to not be trusted in any future decision over the club.
An interim, genuine management board has to be put in place immediately. People experienced and versed in corporate recovery, seeing off the threat of administration if possible, restructuring the company to sell to sensible, well-funded purchasers. Otherwise, it falls into the hands of administrators and all the pain that that brings.
There can be no more advocating for Moshiri, nor any advocating for his choice of 777 Partners. All of us, from matchgoing fans, more distant Blues, through to nationally recognised politicians, have to step in and ensure our rescue. It should have happened months ago; it didn’t, but it must now.
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Reader Comments (33)
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Peter Hodgson
1 Posted
05/05/2024 at
20:59:56
Okay so most readers will accept that the Esk doesn't, and never has, liked 777 and so therefore may read this piece as him having another go at 777. That may be so but it shouldn't deflect from the essential message that the piece is shouting, as long as we look at it with our eyes very much open.We are really in the mire if all this current act of the circus is happening. If his speculation is accurate the 777 house of cards is not going to set tumbling by the Premier League but by someone in the States. Can we withstand that happening without having a back stop in place? Unlikely.The other question that springs to mind is, did Moshiri see (or have inside information about it) that prompted him to engage the rumoured consultants he has brought in recently? Maybe. If so, not a second too soon, but it is understandable he hasn't broadcast that, if that is the case because it is a matter of staying as many steps ahead of things as possible.So where does that leave us? Basically still in the brown stuff but of a different sort of brown stuff than we were in before. And potentially deeper brown stuff than we have experienced before.The Esk fails to mention that there are White Knight(s) which I understand that he has said before (I may be wrong on that point and apologise if so). So the work of the consultants, as suggested by The Esk, should therefore start immediately. No delays.
Gerry Quinn
2 Posted
05/05/2024 at
21:11:13
Don't you wish us Evertonians had mega-fortunes, Paul? So frustrating with these greedy buggers who don't really have any interest in the actual club! Was so desperate to win the US Lottery of + $1 billion last month...
Mike Gaynes
3 Posted
05/05/2024 at
21:23:28
"(i) Moshiri allows the creditors to restructure the club’s finances, form a functioning board and allow other investors to acquire a going concern;"This appears to be the portfolio of GDA Luma, the reputed new player in 777's game. Unlike 777, GDA has extensive restructuring experience -- and some serious money behind it.
Larry O'Hara
4 Posted
05/05/2024 at
21:30:17
As you say, Paul, 777 are toast….But I do not see any White Knights.The situation is indeed dire.
Pat Kelly
5 Posted
05/05/2024 at
21:52:42
It's all sub judice for now.All that's been concluded in the article is that “the startling submission, accusations and evidence submitted to the United States District Court” confirms suspicion that 777 “are less than the sum of their parts”. We've had a football team that's been less than the sum of its parts for ages. A more serious finding will be required to prevent 777 from acquiring Everton. These claims and counter claims could take a very long time to resolve. No one's goose has been cooked yet. Lawyers have to make a living. Let's not hold our breath.
Peter Hodgson
6 Posted
05/05/2024 at
22:04:30
The link in the piece, which I thoroughly recommend having a look at (but not for too long 'cos you go goggle eyed) is the court documents for the case Leadenhall has brought is 82 pages long but explains to some extent the case. The legal action, if it goes to court, will take forever and cost a fortune. It will be complicate and too complicated for the layman. But do partially familiarise with it. It is worth it. Link here: https://theesk.org/wp-content/uploads/2024/05/Leadenhall-Capital-Partners-LLP-v-Wander-Pasko-777-Partners-etc.pdf
Michael Kenrick
7 Posted
05/05/2024 at
22:07:29
In context, this is a long-running case that predates any involvement 777 Partners have with Everton. Also in context, lawyers have been known to exaggerate somewhat when putting forward their arguments in an effort to persuade. It remains to be seen what impact, if any, these claims have outside of the US District Court — and more crucially, when they will have any impact. Such a case could take months to be heard, and could drag on for months or even years. Meanwhile, 777 Partners have provided and continue to provide the funds Everton need to carry on their day-to-day business and pay Laing O'Rourke for the ongoing construction of Moshiri's wonderful new stadium at Bramley-Moore Dock. Just sayin’.
Peter Hodgson
8 Posted
05/05/2024 at
22:15:21
Quite correct, Michael. But if it means that 777 are no more, then we, as things stand, are buggered too. So we should prepare for life without them.
Ed Prytherch
9 Posted
06/05/2024 at
02:45:13
The case in the NY court could drag on but in the meantime 777 will be unable to access more external funds. Regulators in Utah and South Carolina took action a few weeks ago to stop A-CAP linked companies selling policies in their states. Others will surely follow. I cannot see 777 making any more loans to EFC. The Premier League do not have to disqualify 777 because they know that their bid for EFC is dead.
Mike Gaynes
10 Posted
06/05/2024 at
03:23:08
Ed #9, according to the Bloomberg report about GDA Luma, 777 is already accessing more external funds.
Don Alexander
11 Posted
06/05/2024 at
03:41:10
777 have by now repeatedly displayed themselves to the entire world as charlatans, thus far utilising Ponzi machinations to enrich themselves to the cost of their "ordinary" investors' expectations.A so-called genius accountant would be able to see through them in an hour, but alas, we don't have one. BMD is irrelevant in terms of Everton Football Club's future prosperity for decades, on account of Moshiri.He's digging us a grave in plain sight from which we are likely to perish. He is in French terms "une chatte", indulged by our very own self-serving c**t, Kenwright.
Mike Gaynes
12 Posted
06/05/2024 at
03:47:09
Anyone who can access the New York Times should read the NY Times Magazine article entitled When a Bunch of Bloody Yanks Came For English Soccer. I cannot link it here, but it's a great read, particularly in its comparison of the mess Boehly has made at Chelsea (the same Boehly who may be backing GDA Luma's move with 777) to the amazing resurrection of Villa by Edens and Sawiris. Why would a Yank and an Egyptian buy a collapsing club in a bad Birmingham neighborhood just ahead of bankruptcy? Here's why:It was probably inevitable that venture capitalists and hedge-fund managers would discover English soccer. The clubs, from the famous ones to those in leagues further down that have plumbers and shop clerks playing part time, enjoy support that most American teams can only envy... It doesn't hurt that they seem wildly undervalued compared with other sports investments. To take just one example, the San Diego team entering MLS next year, a league that’s 30 years old, is paying a $500 million expansion fee to join; Bill Foley paid less than a third of that in 2022 to buy A.F.C. Bournemouth.At the same time, underpriced tickets and bad food have provided a significant opportunity for economic growth — “low-hanging fruit,” as investors tended to describe it. So has the propensity of English fans to arrive moments before games and leave right after. Get them to spend more time at the stadium, like their American counterparts, and they might have a meal there. They might linger at an expanded club shop selling branded versions of everything from license-plate frames to dog beds. An N.B.A. owner once told me that a successful sports team should be a kind of mutual fund of businesses, across categories that include entertainment, digital content, apparel, hospitality, even real estate. Until recently, most English soccer clubs were in one business: staging games. And they didn’t do it particularly well.Note the words "real estate" in that list. To monetize his Villa investment, Edens plans to develop the land around Villa Park.And in my uninformed opinion that's where the appeal of Everton lies. The development part at BMD is already almost done. Add to that the marketing we've never done, the gear we've never tried to sell, the corporate hospitality we've never hosted, and the potential just keeps adding up. If the club can stay up for one more season and ensure its PL revenue stream sufficient to survive, the eventual buyer could be unearthing a diamond mine. All hope and speculation, of course. But the parallels to Villa's situation five years ago are striking. And they'll be in the Champions League next season.
Don Alexander
13 Posted
06/05/2024 at
04:27:24
Mike, no disrespect intended at all but your speculation, like mine, derives from Moshiri and the EPL buffoon hierarchy providing any info at all on the otherwise massive shortcomings of 777 and Everton itself given the EPL draconian sanction/s against us.We're all in a fog, just where corrupt entities want us to forever remain.
Alan J Thompson
14 Posted
06/05/2024 at
06:29:32
So will the Premier League come out and declare 777 as not meeting their criteria as suitable owners or will they await the outcome of the Leadenhall proceedings using the excuse that they cannot comment while the matter is before the Courts, which in Everton's case it isn't, or is it?
Laurie Hartley
15 Posted
06/05/2024 at
07:09:09
Paul - from your OP:"An interim, genuine management board has to be put in place immediately." Perhaps this is a stupid question but are you saying replace the board and if so who exactly has the authority to do that???? The Club website states that the current board consists of Moshiri, John Spellman and Colin Chong.
Derek Thomas
16 Posted
06/05/2024 at
08:00:01
Alan @ 14; Even though 777 are on their 3rd? or 4th? 'put up or shut up' deadline, the 'Innocent until proven guilty' thing will 'allow' The Premier League to do little or nothing, not that they seem too keen anyway.I don't know how many wheels 777 started with on their Wacky Racers Financial-Mobile - but there can't be many left - hopefully.Altogether now..."One wheel on my wagon and I'm still rolllin' along"
Laurie Hartley
17 Posted
06/05/2024 at
08:12:21
Peter # 6 - well I have just spent an hour going through your linked document. It is too complicated for me to understand completely but what I do understand in it has my head spinning.
Adrian Evans
18 Posted
06/05/2024 at
09:21:15
Moshiri may not be allowed to invite another buyer by outside influencer? It doesnt take much imagination to think who that is!!But if the Premier League turn down 777 Partners, then he has no option.If MSP Capital, AJ Bell, others say No!! 777 are out then, no choice.It needs a well capitilised company, consortium, or individual to come in and buy Everton. Clear the mess up of debt, north of £500M, pay off Moshiri, finish the stadium.Clearly they will need to keep Everton afloat for 3 or 4 months.Premier League tests to pass. But Sir Jim Ratcliffe took only 12 weeks. So by September the new owners can be in place.Moshiri can agree investment whilst it’s being sorted. Or, if we can be docked 12 points this season, win against Blades and we have enough points.Clear some debt. But that’s not fair to MSP, AJ Bell, et al. There has to be a sensible way to keep us afloat, pay everyone off.The next week will be crucial:US companyQatari State FundAN Other.But 777 has to be told “No – you’re out!”
Simon Jones
19 Posted
06/05/2024 at
09:35:44
Mike #12, May be the most interesting post I've ever read on TW?! So all we need is a US-based-venture-capital-hedge-fund-thingy, just not the potential one we are currently shackled with, and we've all got to have dinner at the match?Aside from the above, I got a freebie at Leicester City a couple of years back (Mykolenko's rocket) were there was a Sunday dinner beforehand, few beers, bit of entertainment and good seats. It was a very enjoyable way to see (experience) the game, so I can see the point of what you've posted, but it is a big change for most fans' match-going experience.
Tony Abrahams
20 Posted
06/05/2024 at
10:16:15
Whoever buys Everton has immediately got to send their marketing into overdrive.The scope is incredible. I drove into town yesterday at 11:15 am and I have genuinely never seen so many people on Dale Street, mostly walking towards the riverwhilst enjoying the sun.A lot of these people were dressed in the colours of Liverpool FC but there were also a lot of people wheeling suitcases. Our city, has suddenly become a very popular place and it's time Everton Football Club, started trying to create The Blue Everton Quarter in this very part of town.Dale Street, Old Hall Street is only really the business quarter from Monday to Friday but this is going to be the first port of call for most Evertonians leaving the new stadium (especially until around the ground is developed for people to stay around and drink with friends – a la County Road) and also the area around Castle Street has got many fantastic establishments and most Evertonians are coming back to town.Let's start reclaiming our city, because we will soon be the team from town.
John Bourne
21 Posted
06/05/2024 at
11:48:36
And yet, despite all of the aforementioned, Moshiri sees 777 Partners as the best option to facilitate the sale of the club.It begs the question, Why?The elephant is in the room for all to see.
Mark Taylor
23 Posted
06/05/2024 at
15:27:08
If I was Colin Chong, I would be seriously considering resigning as a director (even if not from his actual job). If you continue when you are aware that the entity isn't solvent, you can be in big trouble.I think the point has been reached whereby the imminent takeover by 777 is not only not imminent but not happening and since Moshiri isn't going to provide liquidity, insolvency is enough of a risk to make a director feel very uneasy.
Jerome Shields
24 Posted
06/05/2024 at
15:43:07
Don#13It is a absolute fog.Even Metro, R&FM and MSP Sports Capital will be thinking the same.It probably has been a fog for some time.I can't see anyone doing anything, only MSP Sports seeking redress if their loan is not satisfied.But we will be told nothing dependent on what comes out in the wash.As for A Cap and the 777 Partners legal and regulatory problems.They are rooted in the Baby Boomer Trillion USA Pension and Derivatives Market with probable Worldwide Economic Repercussions.I expect the Federal Reserve to step in.Which is way over Evertonian heads and most Professional Financial Analysts.
Jerome Shields
25 Posted
06/05/2024 at
15:44:49
Paul the EskDo you know the source of the recent payment of funds that Everton received to fund them to end of the season?
Brian Harrison
26 Posted
06/05/2024 at
16:07:53
Brian Harrison
27 Posted
06/05/2024 at
16:07:53
I would hope when the Government appoint an independent regulator that he also has the power to bring owners who are doing nothing to stop their club sliding into administration before a select committee to answer questions. Because at the moment the Premier league is powerless to stop unscrupulous owners from allowing their clubs to go into administration or worse.The fans are powerless to do anything, yes we can take to the streets to protest about our incompetent board but seemingly there is nothing any fans can do but accept whatever the outcome is. I think we can take it that seeing Moshiri has not said a thing then he still thinks 777 are the ideal people to take over the club.
Tony Abrahams
28 Posted
06/05/2024 at
16:24:58
Latest wattsapp messages are saying it’s now come on top for 777 in Belgium as well.
James Hughes
29 Posted
06/05/2024 at
16:39:19
James Hughes
30 Posted
06/05/2024 at
16:39:19
James Hughes
31 Posted
06/05/2024 at
16:39:19
Ed Prytherch
32 Posted
06/05/2024 at
16:49:54
Mike Gaynes, The game day experience is influenced by disposable income. The median personal disposable income in the US is $46K and is $25K in the UK. Most fans in the UK cannot afford to spend US style.https://en.wikipedia.org/wiki/Disposable_household_and_per_capita_income#Median_equivalised_disposable_income
James Flynn
33 Posted
06/05/2024 at
17:45:13
Tony (28) - ThanksIt's from Josimar:"The Repo men?The two main creditors of 777 Partners in Belgium are asking for the seizure of all assets held by the US investment fund in the country after it failed to respect payment deadlines.By Philippe Auclair and Paul BrownJosimar has regularly reported on the financial problems encountered by 777 Partners’ Belgian club Standard de Liège since the Miami-based investment fund took control of the club in the spring of 2022. The club, which is still heavily in debt despite 777’s regular capital raises, lost over 20 million euros net in 2022-23 and has publicly admitted it has struggled to meet its commitments towards staff, business partners and suppliers. This earned the club two transfer bans by the Belgian regulator in June and December 2023, which were later lifted. Some of these suppliers have been waiting for six months and more for their due, whilst salaries and bonuses have regularly failed to be paid on time.As reported here, 777 Partners recently defaulted on two tranches of payment owed to Standard’s former owner Bruno Venanzi and to the shareholders of the Immobilière du Standard, the company which owned the club’s famous Stade de Sclessin. Among those shareholders, alongside Venanzi, are former star players of les Rouches such as Edmilson Jr and former Belgian internationals Nacer Chadli and Axel Witsel. The second tranche, worth 3.5 million euro, should have been paid on 15 April. Venanzi is believed to be owed about the same amount of money.Lead photo: Former Standard de Liège Bruno Venanzi (l.) with Josh Wander (r.) and Standard CEO Pierre Locht (partly obscured)According to information received by Josimar and confirmed by multiple sources in Belgium, the affair has now been escalated by 777’s two main creditors, who are seeking a seizure of the assets owned by the US investment fund in the country – in which official papers seen by Josimar make it clear that any such disputes must be settled. Two complaints were filed on Monday 6 May, one by Venanzi, the other by the shareholders of the Immobilière. These assets include the shares ceded by Venanzi in 2022 as well as the stadium itself. In other words, the claimants are seeking a complete repossession of the assets they sold to 777 Partners (*).Double-pledging assetsThe sums involved may seem negligible – an estimated 8 million euro in total if other, lesser creditors are taken into account – in view of 777’s claims that they manage a portfolio worth up to 10 billion US dollars, and have managed to find close to 200 million pounds sterling to prop up Everton FC in the hope that their proposed takeover, on which they shook hands with owner Farhad Moshiri in September of last year, is finally rubber-stamped by the Premier League. It should be added that this prospect looks increasingly remote as another court action, this time by Leadenhall Capital Partners LLP and Leadenhall Life Insurance Linked Investments Fund Plc, one of their main sources of funding in the past, accuses Josh Wander’s and Steven Pasko’s group of companies of fraud and double-pledging assets on a colossal scale in a suit filed with the US District Court, Southern District of New York.The money seems to have dried up almost completely, now that long-time backer Kenneth King, the owner of the A-CAP group of companies, announced in February that he would be ‘disinvesting’ from 777-controlled entities. Since this announcement, made in an online seminar, a subsidiary of A-CAP, AIP Capital, has repossessed a fleet of 30 Boeing 737 Max-8 previously on 777 Partners’ books and operated by their Australian aviation venture Bonza. The ultra-low cost airline has collapsed as a result, grounding its own fleet, laying off hundreds of employees without pay, and entering into voluntary administration. In view of the modest sums involved, this court case might appear just another bump in the rocky road on which 777 Partners have been travelling in their journey into football. What will worry Wander and his associates is the speed at which the affair will be examined by Belgian justice, which could take as little as ten days to deliver a verdict. Should Venanzi and the Immobilière prove their point, 777 Partners risk losing a club they had vowed to bring back into Europe and has only just escaped relegation in the worst-ever season in their 125 year history. The impact this would have on the rest of their football empire could not be underestimated, with Genoa CFC, in particular, said to experience late payment issues similar to those which have afflicted Standard for well over a year.Within the club, the mood is grim, as expressed by their American right-back Marlon Fossey who, after yet another defeat – 3-1 to Oud-Heverlee this time, on Sunday – summed up the situation in the following terms. “Things are out of our control”, he said. “We must stick to our place, to do what we are paid for… (pause) when we are paid.”https://josimarfootball.com/2024/05/06/the-repo-men/
Mike Gaynes
34 Posted
06/05/2024 at
18:14:53
Ed #32, I'm just pointing out the reasons that these Yank investors see opportunity in the UK football market. And they see the obscene returns that the Glazers have pocketed, and they've seen the club across the park nearly triple in value in the 14 years since FSG bought it, and they want in. That's why half the clubs in league now have Yank owners. The Yanks have the cash, and they know how to monetize a sports operation.
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Premier League Table

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12 Wolves 36 -11 46 13 Fulham 36 -4 44 14 Crystal Palace 35 -12 40 15 Everton* 36 -11 37 16 Brentford 36 -8 36 17 Nottingham Forest† 36 -18 29 18 Luton Town 36 -29 26
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Controversy

edit During the negotiations to buy Vasco, Brazilian newspaper O Globo revealed that Wander had been convicted in 2004 for ordering cocaine in the mail while a 22-year-old student of the University of Florida.[1]31 Facing a possible 26-year sentence, he pleaded no contest and received 15 years of probation, that ended in 2018.[32]1 Wander's conviction has been brought up in the media, and in an interview with the Financial Times he called it a "stupid college thing" and a "perfect opportunity for those people that are haters to try to destroy you with things that are somewhat meaningless".33 Norwegian football investigation website Josimar wrote in 2023 that 777 was facing allegations of financial impropriety, including fraud and unpaid bills. 777 condemned Josimar's article as "wholly misleading".14 777 Partners have been sued by multiple organizations for unpaid debts and contract breaches with lawsuits describing their financial practices as a "house of cards"[34][35]36 and a "sprawling fraudulent enterprise".[37]38
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John Raftery
1 Posted
04/05/2024 at
18:40:56
How long will it be before our Government’s Financial Conduct Authority revisits the approval they granted last year?
Trevor Bailey
2 Posted
04/05/2024 at
18:44:59
Does this mean that any ownership shenanigans from these is dead in the water? If so who if anybody is next in line?
Michael Kenrick
3 Posted
04/05/2024 at
18:48:35
Of all the myriad of negative stories about 777 Partners since the takeover was announced, this one seems to be the most serious that I've seen. And it seems to strike right at the core of the incredibly nefarious financial shenanigans that apparently pass for 'acceptable business practices' in Miami.
Roger Helm
4 Posted
04/05/2024 at
18:54:30
777 Partners surely can't be allowed to proceed if there is any truth in this. I know very little about finance, but if the club is valued at £600M and the debts are at least that, it means the club is essentially worth nothing?
Paul Ferry
5 Posted
04/05/2024 at
19:03:36
Roger, how have we been allowed to sink so low – how?"but if the club is valued at £600M and the debts are at least that."
James Flynn
7 Posted
04/05/2024 at
19:07:44
Group of "alter ego entities".Under New York law, a corporation is considered to be a “mere alter ego when it 'has been so dominated by … another corporation … and its separate identity so disregarded, that it primarily transacted the dominator's business rather than its own.Now, in how many countries is Wander in trouble?
Nick Page
9 Posted
04/05/2024 at
19:36:27
Fuck these off right now!
Jerome Shields
11 Posted
04/05/2024 at
19:38:51
Gosh. That's it, 777 Partners gone...What happens if the loans they made to Everton have come from funds that haven't been collateralised properly?
Anthony Jones
12 Posted
04/05/2024 at
19:43:46
Why do these people buy football clubs? Where is the profit going to come from? Moshiri was in it for the "prestige", I suspect. It didn't turn out well, but he was a safer bet than the Americans who made a killing in refinancing debt as a lender of last resort.
James Flynn
14 Posted
04/05/2024 at
19:48:06
A little more:Co-founded 777 by Josh Wander in 2015, the firm is also behind Canada's ultra-low-cost carrier Flair and with up to 134 Boeing 737s on order, 777 Partners has ambitious plans to launch even more airlines.The lawsuit, however, claims that Wander is responsible for a “years-long pattern of fraud” and has built a “house of cards on the brink of collapse”.The allegations have been made by Leadenhall Life Insurance Linked Investments Fund, which agreed to offer Wander and 777 Partners a credit facility of up to $350 million on the proviso that 777 Partners used assets that it actually owned as collateral.Wander, however, is accused of double-pledging those assets, effectively turning the credit facility into an “illegal and unsecured personal piggy bank” the lawsuit alleges.Leadenhall agreed to offer Wander the credit facility with a preferential interest rate in May 2021, but more than a year and a half later, the firm received an anonymous tipoff that Wander had already pledged the assets to another lender.Last year, Wander allegedly admitted to double pledging some assets in what he described as an embarrassing mistake in a recorded conference call, the lawsuit alleges. Leadenhall, however, claims Wander hadn't come completely clean with it.The lawsuit says 777 Partners are closely tied up with a New York-based insurance company, Advantage Capital Holdings, or A-Cap for short. A-Cap is allegedly the ‘silent partner' behind all of Wander's businesses, providing the firm with at least $1 billion in loans to fund its dealings.In fact, A-Cap and 777 Partners are so intertwined, the lawsuit alleges, that A-Cap has secured “the right to control all facets of 777 Partners' operations”.Private Equity Firm Behind Failed Australian Airline Bonza Has Been Accused of Multi-Million-Dollar Fraud in a New York Court — PaddleYourOwnKanoo.com
Barry Rathbone
15 Posted
04/05/2024 at
19:58:09
You can see why Usmanov and Moshiri thought Benitez was a savvy appointment — they must be the dullest billionaires on the planet.
Michael Kenrick
16 Posted
04/05/2024 at
20:04:40
That is a great link, Jimmy, especially the timeline it reveals behind this lawsuit, which seems to have a history that substantially predates even the takeover bid by 777 Partners. Perhaps this is a mitigating factor? Perhaps the Premier League had been briefed on all the outstanding and ongoing skirmishes 777 are embroiled in? In which case, this would not be news to them. Still seems just astounding that the Premier League has let it drag on into its 8th month with still no approval in sight if A-Cap aren't producing the dosh and 777 are still scratching around…
George Freeman
17 Posted
04/05/2024 at
20:09:02
John #1As far as I know, having been regulated by the FSA, the predecessors of the FCA, they can only investigate complaints about companies or individuals based in the UK, hence the New York court involvement. The three FCA fit and proper tests are for honesty, integrity and reputation, competence and capability and financial soundness. How 777 passed all those three is a mystery to me.
Rob Dolby
18 Posted
04/05/2024 at
20:24:07
At what point do the Premier League pull the plug on this firm and we start again? How many more red flags do they need to say enough is enough?7 months and counting and they can't prove themselves fit and proper. Does anyone know why Moshiri is persevering with 777 Partners?
Ed Prytherch
19 Posted
04/05/2024 at
20:31:58
If 777 Partners go broke, then can the US administrator try to call in their loans to EFC and could that drive us into administration?
Stephen Davies
20 Posted
04/05/2024 at
20:35:14
At what point does Moshiri pull the plug?
John Raftery
21 Posted
04/05/2024 at
20:38:39
Rob (18), I don't think the Premier League will pull the plug as such. I think all they will do is withhold approval because 777 Partners will never meet the financial requirements laid down. Until 777 withdraw their bid or Moshiri decides to look elsewhere, we will remain in a state of limbo.
James Flynn
23 Posted
04/05/2024 at
20:59:40
Michael, Yes.Have to say this guy has a pair of big brass ones to just keep doubling-down on what must amount to at least $1 billion of other people's money, without any outward concern for the trouble he could be in.
Derek Williams
24 Posted
04/05/2024 at
21:00:13
Clutching at straws I may be, but hopefully there is substance behind a Keith Wyness story referencing a Qatari-backed bid, led by none other than our own Tim Cahill.Any port in a storm, as they say. I dare say Timmy would make a more credible board member than dear old Sharpy.
Tony Abrahams
25 Posted
04/05/2024 at
21:14:15
They have been withholding approval since day one, John R, and I think this is generally what happens until they satisfy the league. No good for us Evertonians, but that's how I think it works…The most sickening thing I've read on this website lately is some people saying this group might be okay. I could understand it if we hadn't had such dreadful owners for a very long time but surely this is the time to rid ourselves of all the stains of the previous 25 years?If it's true that you get the club you deserve, then it's time us Evertonians borrowed a phrase from the late Sir John Moores and started demanding better for our club, once again.
James Flynn
26 Posted
04/05/2024 at
21:25:07
"Does anyone know why Moshiri is persevering with 777 Partners?"On 14 September last year, MSP and Moshiri completed the loan deal backed up by the new stadium as collateral.On 15 September, 777 Partners and R&MF announced their agreement regarding the money owed to R&MF. Followed by Moshiri and Wander inking the sale of the Club to 777 Partners.They have a deal; signatures and everything. 777 Partners have been paying the bills since. Moshiri is not "perservering" with 777, because he's sold them the Club. 777 are up to their neck. Moshiri is done with Everton. He's waiting to see what happens like the rest of us.
Jay Harris
27 Posted
04/05/2024 at
21:26:49
This should be a hot topic for Moshiri's meeting the FAB.Not sure he can paint a rosy picture about this crowd.I am led to believe the exclusivity agreement with Moshiri expired on 30 April and if so I can't understand why Moshiri hasn't quickly gone to Plan B.
Jerome Shields
28 Posted
04/05/2024 at
21:45:09
Jay #27Teneo may be Plan B.But he would have to get approval of MSP Sports Capital whose payments is overdue, R&MF who have securities, and 777 Partners that he has agreed to sell his Everton shares to and have provided £200m in loans against part of the shares that they have agreed to buy from Moshiri.It just is a mess of complicated proportions that is getting worse..
Michael Kenrick
29 Posted
04/05/2024 at
21:50:35
James @26, Sorry to be disagreeable but I can't agree when you say "Moshiri is done with Everton."Farhad Moshiri is an Everton Director, a member of the Board of Directors, and as such has a fiduciary responsibility to continue to run the club in a manner that protects the investment made by the shareholders. I couldn't help laughing as I wrote that but it's true. You may have read on here many posters say we have no board and an absentee owner – but these things are just not true. I believe he remains the major shareholder until the deal is ratified by the Premier League. His attendance at the odd game, participation in commissions, and talking to the FAB show that he is still involved with Everton — perhaps more so than he ever was when that ultimate charlatan Bill Kenwright was still alive and kicking.Jay @27,I'm not sure there ever was an exclusivity arrangement as such. It was never mentioned back in September when the takeover deal originally became news.
Jerome Shields
30 Posted
04/05/2024 at
22:01:32
MoshIri's agreement with 777 Partners would be dependent on getting payment for his shares in some form.
James Flynn
31 Posted
04/05/2024 at
22:21:19
Yes, Michael, all that is true. But the question asked is "Does anyone know why Moshiri is persevering with 777 Partners?" Some version of that is asked routinely here.What I posted shows every indication that he's done, or if you like "done". If 777's deal falls thru or their business collapses in the meantime, he'll deal with whatever comes next. But isn't about to lift a pinky until then.Meantime, I agree, the name Farhad Moshiri is still on various name plates around Goodison and the Liver Building.
David Williams
32 Posted
04/05/2024 at
22:25:37
Clusterfuck. What an absolute shitshow. Morishi take a bow!!!
Tony Abrahams
33 Posted
04/05/2024 at
22:29:52
Maybe he's stuck with them until they genuinely fail, James, and maybe this is one of the reasons why the Premier League aren't turning them away?Highly unlikely, but I don't think anyone within the Premier League would be wanting to help Moshiri, who must be perceived by many as nothing more than a lackey for Usmanov.But as Everton are currently stuck in limbo, hopefully they have something in the pipeline to help stop us very long-suffering Toffees from going insane with worry about what is going to happen to our club.
Derek Thomas
34 Posted
04/05/2024 at
22:44:38
So to sum up;777 won't admit they can't come up with the money.Moshiri won't admit (to himself?) that they can't either.And the Premier League won't admit they don't give a fuck either way.
Nigel Munford
35 Posted
04/05/2024 at
23:06:18
If A-Cap repossessed Bonza's aircraft, forcing them into administration, could they do the same with Everton? What assets could they seize, the new Stadium, Goodison Park!!!
Laurie Hartley
36 Posted
04/05/2024 at
23:31:06
I have been talking to my old boss about this. He is retired now but was a top CEO in his day. He reminded that:-“ In a solvent company, the business is run for the benefit of its shareholders. In an insolvent business, it's run for the benefit of its creditors.“As soon as a director of a company believes it cannot pay its debts as they fall due, they must appoint an administrator; otherwise, they become personally liable for the debt. The administrator only has one objective: to realise the most cash for creditors. “Once appointed the administrator takes all decisions of a financial nature.” There must be some very nervous people involved in this shemozzle.
Robert Jones
37 Posted
04/05/2024 at
23:43:09
Surely this soap opera has to end. 8 months and counting, it is clear to everyone that 777 Partners are in no way a solution. Either Moshiri or the Premier League (or someone!) have to make a decision now!Having this endlessly dragged out is leading to one conclusion only, and one that is not a good one for Everton Football Club and it's fans. (Us!)For those that claim to be custodians of our club and of our game, if they don't get this right, this will prove to be one of the biggest derelictions of duty. How many of us trust either Moshiri or the Premier League to make a decision in the interests of the club and fans? Not me!
Si Cooper
38 Posted
04/05/2024 at
23:53:01
Tony (25), whilst I've never said 777 Partners are okay, I have questioned what aspects of their potential ownership do other posters have particular problems with.For instance, I think the multi-club ownership model could work if handled well – why shouldn't it be substantially different to running any other multinational businesses.I have very little faith in the wholesomeness of ‘business' types in the 21st century. Disrupters are the big thing these days, and they only get judged on how successful they become, not on whether they have destroyed a decent competitive market place and replaced it with a virtual monopoly. Chancers, bluffers and out-and-out con artists seem to somehow gain respectability if they actually build their empires, only suffering real criticism when their machinations don't pay-out.I can't work out why Moshiri chose 777 Partners or has stuck with them for so long. I can only conclude from the fact that their application hasn't been soundly rejected by the Premier League that they aren't actually as beyond the pale as the various headlines make them appear.I'm not for 777 Partners but I'm not about to support ‘anybody but them' either.
David Vaughan
39 Posted
05/05/2024 at
00:04:05
So, let me get this right. Our owner, Mr Moshiri, has I think repeatedly warned us of Everton's existential threat. And insists our only hope rests with another company which seemingly has its own existential threat. Now why would that be, do you suppose? Insurers sue rating agency over exposure to Everton bidder 777 — Financial Times, 4 May 2024
Si Cooper
40 Posted
05/05/2024 at
00:38:23
Laurie (36), What was your former boss's stance on who should have regard for the customers of the business (the fans, of course, being the ultimate customers for professional football)?Seems fairly typical that a manager is apparently only bothered about shareholders as they will ultimately control his or her renumeration. It would be wonderful to hear if anybody these days really cares about giving their customers the best quality they can manage at a wholly reasonable price.
Derek Thomas
41 Posted
05/05/2024 at
00:55:21
Nigel @ 35; plus whatever they can get for the other assets like players and those £24M fancy lawn mowers.One key point is: In the commercial property world, what is the standard return on investment on a £750M (blue and) white elephant of a stadium with only one – in real terms – potential renter???I would hazard a guess that, if all the debts (and estimates vary from £800M to £1.2B) were paid off, and in that would include whatever now smallish bit of cash Moshiri might trouser himself – that this white knight benefactor would basically get the club and the stadium 'thrown in for free'.This might also involve a brief (maybe simultaneous) state of being wound up to avoid administration and reformed as a new entity.Where, instead of the main asset being a Premier League club with a stadium, we become a stadium with a Premier League club with the stadium as the main asset... and some players hopefully.
Steve Carter
42 Posted
05/05/2024 at
00:55:58
Some more: The mysterious man behind 777 Partners, the strange private equity firm that owns Bonza — ABC News (Australia), 3 May 2024
James Flynn
43 Posted
04/05/2024 at
02:13:23
Tony (33) - "to help stop us very long-suffering Toffees, from going insane with worry about what is going to happen to our club."I agree on some of that. 777 Partners did ask the League to give them until the end of May. Still a few weeks more weeks of suffering. For us, what's a few more weeks at this point?From everything we see and hear, the Club and the League are waiting for 777 Partners to collapse.My feeling is that Moshiri can field that pretty easily. The League, though, has a different responsibility. At some point, they have to make a decision. Come the end of this month, disapprove the sale and Moshiri will deal with whomever is hovering overhead. Preferably, not like vultures.
Don Alexander
44 Posted
05/05/2024 at
03:09:55
Whatever was ever in his hideously conceited, wholly football-dysfunctional head when Kenwright used him to personally get £10s of millions off him, Moshiri long before now has had no interest at all in our football club's future – providing he can con some similarly devious dickhead into minimising his entirely self-culpable financial losses.So with 777 Partners as his 100% approved purchasers (again by him alone, allegedly), he's now actively seeking to improve his personal financial credibility in whatever world of accountancy deviousness he believes himself to be still credible, to the cost of the very existence of our club's financial credibility for many years to come.Maybe those of us who so trusted Kenwright to the extent of proposing to name a stand in the new stadium at Bramley-Moore Dock after him will now come forward to contend "The Farhad Moshiri Fucking Us For Decades To Come Stadium" as its name, as a fitting recognition of the disaster he's bestowed upon us.
Laurie Hartley
45 Posted
05/05/2024 at
03:10:45
Si # 36 – he was just stating the legal facts. An administrator is only interested in the money and getting his cut – and he is first in the queue. 😬
Jack Convery
46 Posted
05/05/2024 at
04:05:37
Maybe Moshiri was told or 'advised' to back the 777 Partners bid, by someone not a million miles away from him, business wise?After all, if you are asked, "Would you like to swim with the fishes or take my advice, comrade?" — What would you do? Stinks to high heaven.
Phillip Warrington
47 Posted
05/05/2024 at
05:14:14
Farhad Moshiri is an Everton Director, a member of the Board of Directors, and as such has a fiduciary responsibility to continue to run the club in a manner that protects the investment made by the shareholders. Couldn't we all band together and take a class action against him in court for failing to do the above and knowingly doing so? I just hope like hell we can pick up more points just in case, not sure but I seem to remember the Premier League were going to review something that could lead to a 2-point reduction at the end of the season. I still can't get my head around why Moshiri has let it get so bad considering his reputation in the business world and I feel there has to be some end game for Mr Moshiri.
Jerome Shields
48 Posted
05/05/2024 at
05:26:57
Dereck #34,It must have been that there was a payment due to R&MF, which Moshiri was not prepared to pay and which MSP Sports Capital were not prepared to pay on Moshiri's behalf, in addition to Moshiri's remaining shares in a takeover of Everton. 777 Partners were prepared to pay this due amount in addition to purchasing Moshiri's shares. This resulted in the takeover agreement between Moshiri and 777 Partners.A-Cap would not have claim on Everton, since 777 Partners' borrowings are unsecured against assets, other than an agreement to purchase Moshiri's shares which 777 Partners seen unable to fulfil. The Premier League is a regulator and can only act when the club presents figures that breach their Rules or it is reported to them by other regulator agencies, eg FCA or insolvency court proceedings that officially come into the public domain and have broken their rules. A Regulator is always too late.R&MF loans are secured against Goodison Park. Everton's MSP Sportis Capital loans are secured against Everton Stadium Development Company via a company owned by AS Bell and his wife. Metro is another secured borrower... I am not sure whether the latter has been satisfied.777 Partners' loans to Everton are unsecured other than by an agreement to purchase Moshiri's shares, either directly or indirectly.
Denis Richardson
49 Posted
05/05/2024 at
07:04:22
I wish the Premier League would just end this sorry saga once and for all and declare them not fit and proper.If they've put in £200M but there are doubts as to where that £200M has come from, it does beg the question who the ‘real' lender is. If 777 Partners go down, someone is going to lay claim to the £200M – who? We don't know.I just cannot imagine any scenario now where 777 Partners are the owners of the club. At least that's a positive to add to avoiding relegation. Ultimately, as long as the club is in the Premier League, it has value.
Scott Robinson
50 Posted
05/05/2024 at
07:41:35
Moshiri is not done with Everton. His share and purchase agreement would have as a condition precedent to completion, "approval by the FCA and the Premier League". Until that is granted, the deal is not over. The funding agreement that 777 Partners have would be a separate arrangement, that has been entered into in contemplation of the sale.If 777 Partners withdraw or cannot meet the conditions stipulated by the Premier League, then the club's ownership would remain with Moshiri.
Ian Bennett
51 Posted
05/05/2024 at
08:01:32
All agreements will have a long stop date of when the deal needs to be completed by.The agreements will be subject to regulatory approval, but they'll have a date when the deal needs to be completed by. This can be extended by the agreement of both, and if not, it can be terminated by the seller.
Jerome Shields
52 Posted
05/05/2024 at
08:02:36
Denis #49,It is £200M loaned and whatever 777 Partners paid R&MF on behalf of Moshiri to satisfy the conditions of the R&MF loan involved.At the time, it was rumoured to be £80M to £100M. R&MF still have other secured loans with Everton. I am assuming that security was not transferred for the loan, since no charge has been registered under Company Law as yet.The source of recent funding is unknown.
Tony Abrahams
53 Posted
05/05/2024 at
08:05:25
I hope so, James, although I have become a lot more relaxed about the situation but don't know if this is because of the perfect derailment of a season and the silence that has ensued since if I'm being honest mate!"777 Partners or anyone" is kind of what I'm alluding towards Si. We need “good” owners for a change, instead of nepotistic conmen or lackeys who don't want Everton Football Club to be taking up to much of their time.The American investors who I've been going on about for a long time now could be worse than anyone but there is one thing that I've heard about this group that gives me a little bit of hope. First we have got to see what happens with Moshiri's pick because they might just be the only group in town!
Laurie Hartley
54 Posted
05/05/2024 at
08:07:20
Scott # 50 – so if that happened presumably MSP could ask for their £158M to be repaid or alternatively receive 54.1% of his shares. At that point, it would surely be time for Mr Moshiri to cut a deal seeing as how he also owes 777 $200M. Looks like MSP are in the box seat to me – especially now we have maintained our Premier League status for another year.
Scott Robinson
55 Posted
05/05/2024 at
08:35:37
Laurie @ #54, I'm not familiar with the MSP arrangement. However, a failure to meet the CPs to the SPA, would mean Moshiri would have to revisit the arrangement with 777 Partners and other creditors. Perhaps that is why he brought in the restructuring experts last week to discuss alternatives.
Mal van Schaick
56 Posted
05/05/2024 at
08:37:38
How on earth can our situation improve with all this uncertainty? I would rather have an ex-player based or driven consortium that will give the club certainty. The fans have had enough of financial skullduggery, dubious owners, and cloak-and-dagger goings on.Personally, I would rather not have 777 Partners involved but, if they are the only investors to keep us afloat, we as fans have to put up with it, but for me there is no longevity in this deal.
Jerome Shields
57 Posted
05/05/2024 at
08:38:37
A-Cap have taken a Rating agency to Court who are about to downgrade them. A-Cap have taken back assets from 777 Re, eliminating their exposure. They also question the Agency's assessment of these 777 Re insurance assets, which are derivatives or securitized debt bundles.777 Partners are funded by 777 Re. A-Cap was a major provider of pension funds to 777 Re. 777 Re debt bundles have a rating of C-. A-Cap are fighting a reduction from B++ to B-. Being Bermuda-based and reinsuring pension funds, both with restricted information access, it is not possible to find who is ultimately investing in 777 Re.
Laurie Hartley
58 Posted
05/05/2024 at
08:58:47
Scott #55,“Moshiri would have to revisit the arrangement with 777 and other creditors. Perhaps that is why he brought in the restructuring experts last week to discuss alternatives.”Precisely – one of the other creditors being MSP who wanted to buy the club at the beginning of this saga. Strange as it may sound, I am beginning to feel optimistic. 777 have run out of money and are fast running out of time. I am hoping they pull out of the deal on condition they get their $200M back.
Colin Glassar
59 Posted
05/05/2024 at
09:20:50
This fiasco is doing my head in. It's worse than a Mexican soap opera, ie, farcical, over-the-top, hammy, and never-ending.Between The Esk, Kieran Maguire and Keith sodding Wyness (amongst others), I'm losing the will to live.
Eric Myles
60 Posted
05/05/2024 at
10:13:24
I think Scott and Ian at #51 & #52 have the best handle in the contractual situation between 777 and Moshiri. Laurie #58, MSP did not want to buy the club, they only wanted to buy 25% of the shares from Moshiri. So only an investment, and maybe just transferring their debt to equity rather than a cash influx?
Andrew Clare
61 Posted
05/05/2024 at
10:19:24
Colin #59,I feel the same way. Most of the takeover news is groundless speculation. Maybe 'groundless' is a bad choice of word.I just have this horrible feeling that – despite all the bad news about 777 Partners – they will actually wind up being our owners and we will be in a worse situation than we are now.
Steve Brown
62 Posted
05/05/2024 at
10:49:00
From the Athletic today:In trying to explain just how bad 777's latest legal scrape is for the Miami-based investment firm, it is difficult to know where to start.The complainant this time is London-based investment firm Leadenhall and the civil suit it has filed against 777 Partners, some of its portfolio companies, its co-owners Steven Pasko and Josh Wander, its close partner A-Cap and its boss Kenneth King, runs to 82 pages. And there is a wounding zinger on each page.But perhaps the easiest place to start is simply to say this must surely be the end of 777's almost eight-month attempt to complete its purchase of Everton, and very possibly the end of 777, too.The allegations are staggering, although to many they will not really come as a huge surprise.After all, Leadenhall's complaint, which was filed in a US district court in New York on Friday, notes that 777 and its associated companies are already the subject of 16 different lawsuits over unpaid debts totalling more than $130million (£104m). Leadenhall, for what it is worth, says it is owed more than $600m by the group.Wow, right? But Leadenhall says 777 and its affiliates owe A-Cap more than $2billion, not that it thinks A-Cap itself deserves any sympathy, as Leadenhall believes A-Cap is in on the scam.The central allegation is that 777 and its associated companies set up a credit facility with Leadenhall in 2021 that was secured against assets that had to be “free and clear” of all other potential claims. And the unencumbered status of these assets had to be confirmed to Leadenhall by the group every month. This enabled the 777 group to borrow lots of money from Leadenhall, at a relatively low interest rate.However, a combination of anonymous tip-offs, forensic accounting, conversations with other lenders and, even, admissions from 777's main man Wander himself led Leadenhall to the conclusion that what was going on here was “a giant shell game, at best, and an outright Ponzi scheme, at worst”.Instead of “free and clear”, most of 777's collateral either did not exist or it was “double-pledged”. Oh, and the borrowers forged documents and faked records to hide its deception, Leadenhall claims.“Everton is the latest shiny object of Wander's fraudulent scheme, solvency aside,” the complaint says.“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'.”This “house of cards” was propped up, in “Whac-A-Mole fashion” by King's A-Cap, which, contrary to 777's agreement with Leadenhall, had overarching security over all of 777's assets.But, according to Leadenhall, King's control over 777 goes even further than that. He is the “puppeteer to Wander's marionette” and the “Wizard of Oz behind the 777 curtain”. It is A-Cap's money which has bankrolled 777's purchase of airlines and football clubs. It is A-Cap's money that has been paying Everton's bills.And when we say A-Cap's money, what we really mean is it is the insurance premiums of millions of regular Americans, everyday folk who have invested in healthcare and pension schemes, people who thought their money was going into gold-plated, copper-bottomed investments that would definitely be there for them if and when required.Evertonians, do you agree with current owner Farhad Moshiri that this lot are the “best partners to take (your) great club forward”?Obviously, this is just a civil suit. We are not yet at the criminal stage, and we may never get there. Wander and 777 have declined to comment but their usual line is they never comment on ongoing litigation.A-Cap has not yet responded to a request for comment from The Athletic but in a statement to The New York Times it said the accusations are “sensational and unfounded”. “A-Cap, similar to Leadenhall Capital, serves as a lender to 777 — there are no ownership ties,” it said. “The key distinction lies in the fact that A-Cap holds senior rights to collateral associated with 777.”The plan, as far as Leadenhall can fathom, was to funnel money, usually borrowed money, into “speculative bets” on airlines, payday lenders and football clubs, with Everton being the biggest and most important bet of all.But A-Cap has already been forced to try to untangle itself from 777, under pressure from its rating agency and state insurance regulators.Good luck with that. Hope it goes well — if not for you but certainly for your customers, who did not sign up for this.But can you conduct your experiments in financial engineering away from our football clubs, please? They are not moles to be whacked, Peters to be robbed or shells to play with.It's hard to see what 777 could say to answer these claims. But whatever happens, for Everton, the FA and the Premier League, surely this is now too much.It has to be over. This must be the end.
Denis Richardson
63 Posted
05/05/2024 at
10:52:58
Thanks ,Jerome, it sounds like one group has loaned money to Everton with the new stadium as security, another has loaned money to the club with Goodison Park as security, and 777 has loaned money to the club on condition it can buy a majority of the shares. If the above is right, I'm not sure where that leaves the club if 777 Partners are unable to buy the club, either due to lack of funds and/or not being passed for and proper. Where does the £200m stand relative to the other debt?Your #57 post would suggest 777 Partners have no gas left in the tank as their main funding via the insurance side has dried up. Given the rumours swirling about, I cannot see a scenario whereby 777 Partners are in a position to buy the club. I think in the long run this would be positive and I cannot see what positive outcome the club would have with them as owners. They haven't got a pot to piss in and their other business ventures seem to be crumbling apart.Whatever the outcome, I hope the management is at least allowed to plan for next season. PSR is pretty clear re the losses allowed and so that should make it clear what profit from player sales is needed before 30 June. So we choose Onana or Branthwaite and get a good price and move on. Get a few frees and loanees in to replace the high earners going and ensure we have a better squad than this season.Dyche and team can only sort out the playing side after all.News of 777's woes is good all round.
Jack Convery
64 Posted
05/05/2024 at
11:51:08
Apparently Kevin Malone is in London looking to buy Everton FC. I found this article about him:He went from running the Dodgers to fighting sex trafficking — LA Times, 11 February 2022
Jerome Shields
65 Posted
05/05/2024 at
12:07:44
Denis #63,I think where we're at is that Everton is not a going concern and needs to be restructured with a creditors agreement. So that means that all the creditors have to work together. An example is Elliot Management and AC Milan.The rumours round Teneo's involvement would seem to indicate that this is being attempted by Moshiri.But there is a problem in that Moshiri has no equity leverage, unlike Elliot Management, or management creditablity and there are big questions around 777 Partners, who will never takeover Everton. On top of that, Teneo, according to the US Federal Government, have ongoing Oligarchy relationships.The only one capable of this restructuring is MSP Sports Capital, but it would take Moshiri and 777 Partners to be sorted and preferably gone, and any possible Russian connections with them.Everton would then become a going concern and sold properly.
Matthew Johnson
66 Posted
05/05/2024 at
12:10:20
Jack #64,Not the guy from the US Office I hope, although his accounting skills would be an upgrade on what we currently have at Everton.
Peter Hodgson
67 Posted
05/05/2024 at
12:14:37
Jack @ 64The link to the LA Times is no longer there or unavailable. 404 error.
Laurie Hartley
68 Posted
05/05/2024 at
12:51:01
Eric # 60 - yes I stand corrected they did only want 25%. And yet they knocked back the opportunity of 54% when their loan was to be repaid a couple of weeks ago. Instead they extended the loan period. It is like the Gordian knot.
Michael Kenrick
69 Posted
05/05/2024 at
12:57:58
Peter @67, Strange. I'm pulling it up okay. I converted it to a live link, so see if that works for you.
Dave Abrahams
70 Posted
05/05/2024 at
13:33:36
Michael (69) Are you doing anything about the problem of ToffeeWeb it's taking ages to post with various comma's, full stops and Capital Letters coming into the posts without me putting them there, the column takes more time getting it to appear and being honest my wrist is bleedin' aching from have to correct the post erasing letters that have a mind of their own.Have you had a good look at that dickhead of a word checker you employ, has he gone completely out of his skull and creating these problems.Or being honest, is it just me and my iPad is out of control?
Brian Wilkinson
71 Posted
05/05/2024 at
13:46:14
Hi Dave A, are you on an iPad, mine is doing the same on there, but when I go on my android phone its working fine.Sounds like it could be an issue with OiS or iOS, can never remember what it is on an iPad so if Mike is reading this, are you are on an iPad? Dave, I think that's where the server issue is coming from.Takes forever to type a word in on iPad.
Danny O’Neill
72 Posted
05/05/2024 at
13:57:16
I've also experienced a lot of delays and slow response and played catch up when posting.The site doesn't seem, to like Safari on Apple machines, so I tend to use Chrome.Although what I tend to do is write up on a word document and do cut and paste.
Michael Kenrick
73 Posted
05/05/2024 at
14:05:26
Just typed this in on the wife’s iPad, no bother.I was going to say it was divine retribution for Dave being so down on Carlo and the utter genius that was James Rodriguez. Can’t believe it’s affecting you as well, Brian.
Martin Farrington
74 Posted
05/05/2024 at
14:10:40
Everton are not a plc so have no obligation in rules governing such. Moshiri is the main shareholder as well as owner. He is really only liable to submit annual accounts. He has NO responsibility to supporters / fans. He can effectively destroy the club fiscally (and therefore from the league) putting it out of business, should he choose.777 put down a sum which gave them 'Exclusivity' over purchasing Everton. Like a deposit on a house so no one else can buy it whilst legalities are formalised. Hence Moshiri is not engaged in conversation with others to step in because that would breach contract. 777 had to meet certain obligations during the exclusivity period, they failed. One being to repay the MSP loan. Moshiri has complicated everything by getting loans from numerous sources when his credit with one was maxed out. 777 were supposed to pay off the Moshiri loan from MSP as part of the exclusivity deal, but were unable to. Hence MSP being put in a position to legally foreclose and take over Everton. We were sold out to crooks long ago.It started with hamper man Johnson.Then the loathsome narcissistic charlatan kenwright.Then his launderer and cretin moshiri who is a front for usmanov.777 is a ponzi scheme. Straight fraud.Usmanov a russian ally of putin who has indirect access to uk movers and shakers via moshiri.Moshiri does what he is told. He has to maintain a modicum of interest in the club. He has nowhere to hide if he doesnt.Pl are in theory owned equally by all pl clubs under the guise of The FAPL who manage and administer their product. This has not been an equal or fair governance. Everton are unlikely to go into administration because the sums owed are massive and somewhat recoverable. Creditors would lose far more by doing so. In reality the exclusivity should be allowed to lapse and new investors sought. But as we are owned by a crook who is owned by a crook.
Dave Abrahams
75 Posted
05/05/2024 at
14:16:06
Brian (71), Thanks for you trying to help, I am on an iPad but I haven’t a clue how it operates but it certainly takes much longer to post an article now than it did a week ago, that’s how long the problem has lasted and being honest it’s took me well over ten minutes to write this simple post with all the alterations I’ve had to make caused by different letters coming and going. Brian do you think a solicitors letter to Michael would help getting his arse moving over this ?
Colin Glassar
76 Posted
05/05/2024 at
14:46:13
So now some outfit called Leandenhall are suing these 777 shysters for fraud. Just when you think things couldn’t get any worse.I’m having a hard time typing on my iPad. Do we have gremlins? I might have to revert to my old typewriter if this continues.
Peter Hodgson
77 Posted
05/05/2024 at
17:18:47
Michael @69,Thanks a bunch for that. Worked a treat. I must have been typing something wrong to get the 404 error. (I think I might not have typed the full address). Apologies, Jack, if you read my post.
Stephen Davies
78 Posted
05/05/2024 at
17:57:39
Been reading about this Kevin Malone connection.Not sure if he's rich enough on his own to buy and sustain Everton.If these reports are correct, surely he must be heading a Consortium of some kind
Billy Shears
79 Posted
05/05/2024 at
19:00:23
Avoid these Yank fuckers like a plague, methinks!
Billy Bradshaw
80 Posted
05/05/2024 at
19:10:21
The site has been really hard to navigate around for weeks now. I've sent some emails to Lyndon about the problem, he has always replied to me for which I'm grateful but nothing is getting any better.Some days, it's really bad. I use a Samsung Android phone – as I've said to Lyndon, all the other apps and search engines work fine, so I don't know what's happening unfortunately.
Ed Prytherch
81 Posted
05/05/2024 at
19:25:25
Moshiri clearly has a preference for dealing with crooks. He deserves to lose everything.
Dave Abrahams
82 Posted
05/05/2024 at
19:30:26
Billy (80) I'll second that post, Billy, no messing it's very annoying. A dozen words in that first sentence and they are literally crawling through one letter every few seconds and that's the truth.I'm developing a stammer because of it!
Phil Friedman
83 Posted
05/05/2024 at
19:30:30
Don't get too excited about Kevin Malone. From his Wikipedia entry: his hiring (at the Dodgers) “led to several expensive high salaried stars being signed to huge contracts.”Sound familiar?
Eddie Dunn
84 Posted
05/05/2024 at
19:38:42
As ugly and dodgy as all this sounds, I wonder if it is that different to the millions of financial transactions going on all of the time? It's a murky world out there. Legal or illegal? It often depends on how good your lawyer is.Until Everton are owned at least in part by the fans, it will always be open to scoundrels.
Nick White
85 Posted
05/05/2024 at
20:06:48
Is it possible that, as 777 Partners are actually putting money in, that Moshiri doesn't want to end the deal with them until the new TV money comes in during the summer? Otherwise, he's going to have to fund it himself?
Si Cooper
86 Posted
05/05/2024 at
20:17:08
‘We need “good” owners for a change, instead of nepotistic conmen or lackeys who don't want Everton Football Club to be taking up too much of their time.'That's what we all want, Tony. Hopefully they still exist and one or a group of them is primed to swoop in as soon as the 777 ‘courtship' is terminated.My (admittedly jaded) view is that modern business practice now includes essentially parasitical behaviour, designed to appeal to and then exploit typical human frailties such as impatience, vanity, jealousy, gluttony and lack of discernment. Hopefully we (the club and the fans) can avoid becoming an expected cash cow for someone indiscriminately acquiring assets.
James Flynn
87 Posted
05/05/2024 at
21:11:15
"Mr Moshiri to cut a deal seeing as how he also owes 777 $200M."Moshiri doesn't personally owe 777, R&MF, MSP, or Metro Bank a single penny. The debt is on the Club.Moshiri himself has something like £400+ million interest-free loan into the Club.
Laurie Hartley
88 Posted
05/05/2024 at
22:58:40
James # 87 - fair enough but at this stage he is the one making the financial decisions concerning the club is he not - although MSP appear to me to be in a strong negotiating position.
James Flynn
89 Posted
06/05/2024 at
03:32:59
Laurie, I'm not going round and round on it.The debt is on the club, not Moshiri. He doesn't have to pay anyone a penny even.You want to keep saying he does, type away.
Laurie Hartley
90 Posted
06/05/2024 at
05:26:47
James, "You want to keep saying he does, type away." I don't - I have probably just failed to express myself correctly.
Jerome Shields
91 Posted
06/05/2024 at
08:40:45
Moshiri is more about control than money. Any more that has been put into the Club had not been his whether what appears to be his, which Ultimately came from his Master or loans from metro, R&MF,. MSP Sports Capital, and 777 Partners.He his moved onto the potential takeover party who has kept him in control and his backers.There is no current direct legal or regulatory process to challenge his control.Teneo's possible involvement if reports are correct is a attempt by Moshiri to get a Creditors agreement in place to restructure debt.i doubt it is to restructure the current regime at Everton. Something he has never been interested in.But the Creditors as part of the agreement could insist that this is gone.Adminstration would mean there is less money to sort out creditors.The threat of that could be used to get the Creditors to the table.Alot depends on what MSp Sports Capital do if their outstanding monies are not paid.They may be already insisting on a form of restructuring, but Moshiri is still maintaining control.He has lost some control since his preferred 777 partners have proved unreliable.A attempt will be made to look at staying with in PSR but this slipped a bit in 22/23 financial year. There is also the need to address future funding after the present trauch has run out.
Lester Yip
92 Posted
06/05/2024 at
09:10:17
With EPL status secured for next season and the punishment been served, and also new stadium is going to complete soon, we must be in a better position to get a deal than before? I'm hopeful.
Martin Farrington
93 Posted
06/05/2024 at
09:42:42
Moshiri bought Everton in stages with his own capital according to official records. This he did via a private limited company he established for at least some or all of the shares. Everton Football Club Limited is a private limited company. Limited by shares. Limited by liability to the company only. It is its own separate entity in law, both legally and financially. Shareholders are paid after tax profits each financial year. Whether they take them is a matter for themselves. If there are no profits, they get nothing.If they are in the red, then they DO NOT have to put in their own money or assets.Being "limited" means that the owner and / or shareholders cannot be sued for outstanding debt, only the Club itself (ie normally the secretary / ceo are answerable).SO does Moshiri stand to lose money if Everton go bankrupt ?YES & NO.Yes because it is his capital that purchased the club ie his own personal wealth. Plus any other he has since added. All of that could be lost with creditors taking priority when all assets are sold off.NO because Everton is a private limited company and any debts are limited to cash and assets of the club. He is not personally liable to pay off the clubs debt.He needs Everton to stay afloat.
Mark Andrews
94 Posted
06/05/2024 at
11:43:52
It's all going so very well, isn't it?Let's face facts, Usmanov didn't make his money through brilliant financial acumen and Moshiri was always a convenient 'respectable' front for him.Bill saved the club from crocodiles and handed it to sharks. The sharks are now throwing us into the volcano.
Sean Kelly
95 Posted
06/05/2024 at
12:20:37
Some say on here it's the hope that kills you but I reckon it's the speculation that does it. A vacuum created by Moshiri's silence and lack of leadership is ruining this club.
Ian Wilkins
96 Posted
06/05/2024 at
12:39:41
Also having trouble posting, though seems bit better today.Think we've been hacked by the Russians, Usmanov trying to get into the inner sanctum. Seriously, this is a complete mess and a very worrying mess. No easy Moshiri - 777 solution, we need to be well away from their debt laden, cash absent, pyramid scheme. For some reason, Moshiri won't let go of 777… he will have to be forced to. Come in, MSP and R&MF – your loan entitles you to. The rumours of ‘white knights' are just that, rumours. Nothing substantiated, nothing surfaced. This needs urgent solution or next season will look and feel a lot worse than this one. Just when we were feeling some relief….
Philip Bunting
97 Posted
06/05/2024 at
14:12:05
Seriously we need MSP to take up that offer asap just to not let 777 Partners get hold of the club. They are only looking to leverage the stadium for a bigger dept pile to assist their pyramid scheme. If MSP don't want to control the club, take up the option so you can pass it on to others than do and can offer a better solution to that of 777 Partners.
Tony Abrahams
98 Posted
06/05/2024 at
15:14:55
Bill saved the club from crocodiles, is hilarious Mark, it definitely made me smile, anyway!I’m hearing these Yanks, are still standing by their beds, so this gives me hope that there’s at least one other party, who are still trying to purchase Everton, despite all the problems.Once they get passed the problems though and look at the new stadium, that is nearly ready and waiting, then maybe Everton will end up being a bargain. Who knows?
Stephen Williams
99 Posted
06/05/2024 at
15:18:11
There will nearly always be positive and negative comments on all manner of things, in which case it's difficult to come to a definitive conclusion. However, when there is absolutely nothing positive, as with 777, then it's very easy to conclude that these aren't the right fit for the Club. That's not to say that they aren't the right fit for Moshiri.The major problem here is the valuation placed on the Club. That valuation appears to be a combination of clearance of debt and leaving something left over for Moshiri to set against the cost of equity he has sunk into the Club - somewhere in the region of £600m - £750m. As a consequence, that valuation is way too high.A recent comparator is Newcastle United. When they were sold for £360m, they were bumbling along towards to bottom of the Premier League (but with potential to be far better), enjoying the benefit of a sizeable, dedicated fan base and had a fit for purpose (if somewhat odd looking) ground. When BMD is finished, we'll have a better ground but all other attributes will be similar.I would argue that a buyer wouldn't place a c. £300m premium on Everton. That will be the reason why no other potential buyers have come forward - hard nosed business sense.However, if 777 are out of the equation, just perhaps that brings the valuation back into the realms of realism. Without that neither MSP nor any of the other debt holders will be interested.
Stephen Davies
100 Posted
06/05/2024 at
15:40:28
Multiple sources in Belgium telling us that 777 Partners's two main creditors, former owner Bruno Venanzi and shareholders of Standard's stadium have now instructed their lawyers to seek seizure of the US group's assets in the country. Full story will follow in @JosimarFotball
Brian Cleveland
101 Posted
06/05/2024 at
15:47:03
If the PL really want to get rid of us, they don't need to dock us points, just let this takeover go ahead and we'll disappear down the plug hole without a trace...
Stephen Davies
102 Posted
06/05/2024 at
15:53:38
Venanzi and the shareholders of the Immobilière du Standard were due (on 15 and 20 April) the second tranche of payments owed by 777 Partners for the acquisition of their shares. 777 are basically threatened with repossession and will have to act very quickly to avoid escalation.
Stephen Davies
103 Posted
06/05/2024 at
16:25:53
seems inconceivable now that there's not going to be a mad scramble among 777 creditors globally to try and secure their position ahead of other creditors. @
Martin Farrington
104 Posted
06/05/2024 at
16:56:51
It seems clear.Moshiri wanted his money back. No one was going to pay it. He knew 777 were fraudsters running a complicated multi million £££ ponzi scheme. After all. He is a crook. Legitimised through establishing ownerships in other businesses, hedge funds and football clubs throughout the world. 777 are a perfect fit.They would pay him and get Everton in return.I believe he thought they would pass the pl ownership test. Hell. Who doesnt.Then he would be well gone when the 777 house of cards collapsed. He must have sht blue bricks when the pl actually demanded certain proof and making payments on the new stadium. The ruse was being rumbled so 777 (being a ponzi) had to secure further finance because the well was drying out. To get the money they need, they have to borrow but they are maxed out. Hence when they were rejected they were downgraded from AAA to a C.Then recently they have used collateral already used on another loan, to secure the funding they require, which is duplicitous and illegal. And / Or said such existed, falsifying documents in order for proof so that they can obtain that money. Hence the present law suit.As Moshiri's plan is falling apart, he still needs to keep the club afloat if he has any hope of his money back.So amongst the 777 failings, he has borrowed from a number of others. Thus complicating his lot and moreover, the clubs. Who on earth knows what grotesque resolution will end this sorry saga.
Mark Ryan
105 Posted
06/05/2024 at
17:07:32
I know we are all beginning to hate the PL but I think in time we'll thank them for not simply approving 777. I think they are doing us a massive favour and I hope 777 get the thumbs down sooner rather than later
Stephen Davies
106 Posted
06/05/2024 at
17:16:03
Josimair Article https://josimarfootball.com/2024/05/06/the-repo-men/
Larry O'Hara
107 Posted
06/05/2024 at
17:37:55
Martin (104)—your account seems horribly plausible to me
Andrew Clare
108 Posted
06/05/2024 at
17:50:19
Despite all of the speculation about other parties being interested in purchasing Everton I still think that 777 Partners are unfortunately most likely to buy us. Is there a deadline or can this just roll on and on?What a terrible situation we are in. I am sure people like Wyness who is always speculating on NewsNow about our sale reads ToffeeWeb because two days after I mentioned Tim Cahill and the Qatari connection he was quoted on NewsNow speaking about the same suggestion.
Mike Gaynes
109 Posted
06/05/2024 at
17:55:58
Totally unrelated, but ecstatic congratulations to Marine AFC on promotion today. They upset Macclesfield (starring Rooney's brother) 1-2. Well in Mariners.
Sean Mitchell
110 Posted
06/05/2024 at
17:58:59
Cheers, Bill. This all stems from you.
Mike Gaynes
111 Posted
06/05/2024 at
17:59:36
Stephen #106, great catch, thanks for posting that.Philip #97, MSP would most definitely want to control the club. They tried to buy it last year. They're not a loan company, they're an acquirer, and I have believed all along that their stadium loan is a wedge in the door to eventually take over the club. Absent all evidence, I still believe so.
James Flynn
112 Posted
06/05/2024 at
18:08:36
Thanks Stephen.From Josimar:"The Repo men?The two main creditors of 777 Partners in Belgium are asking for the seizure of all assets held by the US investment fund in the country after it failed to respect payment deadlines.By Philippe Auclair and Paul BrownJosimar has regularly reported on the financial problems encountered by 777 Partners’ Belgian club Standard de Liège since the Miami-based investment fund took control of the club in the spring of 2022. The club, which is still heavily in debt despite 777’s regular capital raises, lost over 20 million euros net in 2022-23 and has publicly admitted it has struggled to meet its commitments towards staff, business partners and suppliers. This earned the club two transfer bans by the Belgian regulator in June and December 2023, which were later lifted. Some of these suppliers have been waiting for six months and more for their due, whilst salaries and bonuses have regularly failed to be paid on time.As reported here, 777 Partners recently defaulted on two tranches of payment owed to Standard’s former owner Bruno Venanzi and to the shareholders of the Immobilière du Standard, the company which owned the club’s famous Stade de Sclessin. Among those shareholders, alongside Venanzi, are former star players of les Rouches such as Edmilson Jr and former Belgian internationals Nacer Chadli and Axel Witsel. The second tranche, worth 3.5 million euro, should have been paid on 15 April. Venanzi is believed to be owed about the same amount of money.According to information received by Josimar and confirmed by multiple sources in Belgium, the affair has now been escalated by 777’s two main creditors, who are seeking a seizure of the assets owned by the US investment fund in the country – in which official papers seen by Josimar make it clear that any such disputes must be settled. Two complaints were filed on Monday 6 May, one by Venanzi, the other by the shareholders of the Immobilière. These assets include the shares ceded by Venanzi in 2022 as well as the stadium itself. In other words, the claimants are seeking a complete repossession of the assets they sold to 777 Partners (*).Double-pledging assetsThe sums involved may seem negligible – an estimated 8 million euro in total if other, lesser creditors are taken into account – in view of 777’s claims that they manage a portfolio worth up to 10 billion US dollars, and have managed to find close to 200 million pounds sterling to prop up Everton FC in the hope that their proposed takeover, on which they shook hands with owner Farhad Moshiri in September of last year, is finally rubber-stamped by the Premier League. It should be added that this prospect looks increasingly remote as another court action, this time by Leadenhall Capital Partners LLP and Leadenhall Life Insurance Linked Investments Fund Plc, one of their main sources of funding in the past, accuses Josh Wander’s and Steven Pasko’s group of companies of fraud and double-pledging assets on a colossal scale in a suit filed with the US District Court, Southern District of New York.The money seems to have dried up almost completely, now that long-time backer Kenneth King, the owner of the A-CAP group of companies, announced in February that he would be ‘disinvesting’ from 777-controlled entities. Since this announcement, made in an online seminar, a subsidiary of A-CAP, AIP Capital, has repossessed a fleet of 30 Boeing 737 Max-8 previously on 777 Partners’ books and operated by their Australian aviation venture Bonza. The ultra-low cost airline has collapsed as a result, grounding its own fleet, laying off hundreds of employees without pay, and entering into voluntary administration.In view of the modest sums involved, this court case might appear just another bump in the rocky road on which 777 Partners have been travelling in their journey into football. What will worry Wander and his associates is the speed at which the affair will be examined by Belgian justice, which could take as little as ten days to deliver a verdict. Should Venanzi and the Immobilière prove their point, 777 Partners risk losing a club they had vowed to bring back into Europe and has only just escaped relegation in the worst-ever season in their 125 year history. The impact this would have on the rest of their football empire could not be underestimated, with Genoa CFC, in particular, said to experience late payment issues similar to those which have afflicted Standard for well over a year.Within the club, the mood is grim, as expressed by their American right-back Marlon Fossey who, after yet another defeat – 3-1 to Oud-Heverlee this time, on Sunday – summed up the situation in the following terms. “Things are out of our control”, he said. “We must stick to our place, to do what we are paid for… (pause) when we are paid.”Link
Jimmy Carr
113 Posted
06/05/2024 at
18:12:58
Paul The Esk's article related to this issue - elsewhere on the site - is compelling reading. I find him to be the most informed writer out there regarding Everton's current situation. He's called it regarding 777 since the very beginning and has never believed the deal will happen. Let's wait and see but his understanding of financial matters is rather more nuanced than most of the rest of us.
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César Menotti, manager who gave Maradona his first cap and steered Argentina to 1978 World Cup glory – obituary
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edit A Boeing 737 MAX operated by Bonza, at Melbourne Airport 777 owns Canadian company Flair Airlines and Australian-based Bonza, both of which are low-cost carriers.[1]22 In June 2022, the Canadian Transportation Agency ruled that Flair is a Canadian airline and can fly domestically, as 777 owns 25% of the shares and had limited its influence on the board since the beginning of the CTA investigation.23 On March 11, 2023, Airborne Capital Ltd. seized four of its planes operated by Flair over alleged non-payment. In a press conference, Flair CEO Stephen Jones suggested the seizures were motivated by competitors, and that the airline owed around US$1 million on the leases, and was in the process of making payment when the seizures occurred.[24]25 The lessor, Airborne alleged that Flair had repeatedly missed payments amounting to several millions of dollars over a period of five months. Flair used other aircraft to continue to operate its schedule.26 In January 2024, it was reported that the lessors had filed claims at the UK High Court for costs and that there had been outstanding payments of $1.8 million on the four aircraft when notice of default was served.27 On April 30, 2024, Bonza entered voluntary administration with all services suspended after the repossession of its fleet.28
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edit Official website
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External links are hyperlinks that connect to web pages outside of the current website or domain. These links are important for providing additional information and resources to readers, as well as improving the overall user experience. They can also help to establish credibility and authority by linking to reputable sources. However, it is important to carefully consider the external links included on a website, as they can also have a negative impact if they lead to unreliable or inappropriate content. It is essential for website owners to regularly review and monitor their external links to ensure they are relevant and beneficial to their audience. By properly managing external links, websites can enhance their content and provide a valuable resource for their readers.## Aviation


edit A Boeing 737 MAX operated by Bonza, at Melbourne Airport 777 owns Canadian company Flair Airlines and Australian-based Bonza, both of which are low-cost carriers.[1]22 In June 2022, the Canadian Transportation Agency ruled that Flair is a Canadian airline and can fly domestically, as 777 owns 25% of the shares and had limited its influence on the board since the beginning of the CTA investigation.23 On March 11, 2023, Airborne Capital Ltd. seized four of its planes operated by Flair over alleged non-payment. In a press conference, Flair CEO Stephen Jones suggested the seizures were motivated by competitors, and that the airline owed around US$1 million on the leases, and was in the process of making payment when the seizures occurred.[24]25 The lessor, Airborne alleged that Flair had repeatedly missed payments amounting to several millions of dollars over a period of five months. Flair used other aircraft to continue to operate its schedule.26 In January 2024, it was reported that the lessors had filed claims at the UK High Court for costs and that there had been outstanding payments of $1.8 million on the four aircraft when notice of default was served.27 On April 30, 2024, Bonza entered voluntary administration with all services suspended after the repossession of its fleet.28
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Vasco atinge marca negativa na era pontos corridos do Brasileirão


O começo do Vasco no Brasileirão-2024 é bastante desanimador. E, após o revés do último…
6 de maio de 2024
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Vasco atinge marca negativa na era pontos corridos do Brasileirão


O começo do Vasco no Brasileirão-2024 é bastante desanimador. E, após o revés do último…
6 de maio de 2024
n
O Clube de Regatas Vasco da Gama, um dos grandes times do futebol brasileiro, atingiu uma marca negativa na era dos pontos corridos do Campeonato Brasileiro. Com a derrota para o Ceará por 2 a 0, o Vasco completou 11 jogos sem vencer e se tornou o clube com o pior desempenho neste formato de competição. Essa marca, que demonstra a atual situação do time, é preocupante para a torcida e para a diretoria, que buscam soluções para reverter essa situação.
Desde a implementação do sistema de pontos corridos no Brasileirão, em 2003, o Vasco nunca havia passado tanto tempo sem vencer. Com apenas 4 pontos em 11 jogos, o clube ocupa a última posição na tabela de classificação e tem um dos piores ataques e defesas do campeonato. Além disso, a equipe tem sofrido com lesões e desfalques de jogadores importantes, o que tem prejudicado o desempenho dentro de campo.
A torcida vascaína, conhecida por sua paixão e apoio incondicional ao time, tem demonstrado insatisfação com a situação atual. Nas redes sociais, os torcedores têm manifestado sua preocupação e cobrado uma mudança de postura da equipe. Muitos acreditam que a falta de investimento e planejamento adequado por parte da diretoria é um dos principais motivos para o mau desempenho do Vasco.
A pressão para que o time volte a vencer e se afaste da zona de rebaixamento é grande. A diretoria já anunciou a contratação de um novo técnico e a chegada de reforços, na esperança de que isso traga uma melhora no desempenho da equipe. No entanto, é preciso também que os jogadores se dediquem e mostrem em campo a vontade de reverter essa situação.
Além disso, é importante que o Vasco encontre uma identidade de jogo e um padrão tático, algo que tem sido difícil de ser visto nas últimas partidas. A falta de entrosamento e a constante troca de treinadores têm dificultado o desenvolvimento do time em campo. É necessário que haja uma união entre jogadores, comissão técnica e diretoria para que o Vasco possa sair dessa má fase e voltar a ser um time competitivo no Campeonato Brasileiro.
O histórico do Vasco no futebol brasileiro é marcado por grandes conquistas e momentos memoráveis. Por isso, a torcida não desiste e continua acreditando que o time pode se recuperar e alcançar melhores resultados. O desafio é grande, mas com determinação e trabalho, o Vasco pode superar essa marca negativa e voltar a fazer história no Campeonato Brasileiro.### Site Confiável | Cupom de Desconto
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Dolce Gusto é uma marca de café em cápsulas que vem ganhando cada vez mais popularidade entre os amantes da bebida. Com uma grande variedade de sabores e opções de máquinas, a marca se destaca por oferecer uma experiência completa e saborosa aos seus consumidores. Além disso, a Dolce Gusto se preocupa em garantir a qualidade e a segurança dos seus produtos, tornando-se um site confiável para os seus clientes.
A marca Dolce Gusto tem conquistado um lugar de destaque no mercado de café em cápsulas, sendo cada vez mais procurada pelos apreciadores dessa bebida. Com uma ampla gama de opções de sabores e máquinas, a marca se diferencia por proporcionar uma experiência completa e deliciosa aos seus consumidores. Além disso, a Dolce Gusto tem o compromisso de garantir a qualidade e a segurança de seus produtos, o que a torna um site confiável para seus clientes.### Site Confiável | Decoração
Premier League Table

Team
Pld
GD
Pts
12 Wolves 36 -11 46 13 Fulham 36 -4 44 14 Crystal Palace 35 -12 40 15 Everton* 36 -11 37 16 Brentford 36 -8 36 17 Nottingham Forest† 36 -18 29 18 Luton Town 36 -29 26
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The Premier League Table is a definitive ranking system for the top football clubs in England. It is a highly anticipated and closely followed aspect of the Premier League, with fans and pundits alike keeping a close eye on the standings throughout the season. The table is based on a points system, with each team earning three points for a win, one point for a draw, and zero points for a loss. The teams are then ranked in order of their total points, with the highest-ranked team sitting at the top of the table. This not only serves as a measure of a team's success, but also determines their position in the league and their chances of qualifying for European competitions. The Premier League Table is constantly changing and is a reflection of the dynamic and competitive nature of the league, making it an essential aspect of the footballing world.### Site Confiável | Papel de Parede