Everton to enter Administration? | Page 2 | Vital Football

Everton to enter Administration?

Amnesty waiting. Take hit this year, amnesty or figures adjusted for inflation whilst new rules are thrashed out. PL can’t take a third year with deductions dominating procedures.

Everton and Forest have both released financial reports that are not good reading. How many are in similar circumstances? Has anyone seen other clubs finances reported? Pressure will come to bare.
 
Basha73 said:
Those accounts pretty much cement a six point penalty based on the logic used on previous ICs. The fact that they lost more money will be seen as an ‘aggravated’ breach in that they are getting worse not better.

Scousers are all either in denial or throwing out the sob stories in hopes of avoiding a punishment.

As an aside a former director is suggesting that if either club goes down as a result of the points deduction then that clubs players could sue if it costs them wages… 🤔
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But if they don't deny the breach this time they will have co-operated like us so just 4 points
 
mao tse tung said:
There is a paragraph in the Accounts and audit report which refers to a material uncertainty over club’s ability to trade as a going concern. As Maguire points out "this is not the same as saying administration is probable."

It looks like Everton engaging in emotional blackmail and are pointing out to the IC that a points deduction will tip them over the edge, and will probably frighten off the investment - 777 are clearly waiting to see what happens.
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No 777 are still waiting approval from the PL which normally would have been done months ago but there are question marks about them. Whether 777 may pull out themselves if Everton get a big points deduction is open to speculation of course
 
Thewolf/jimmygordon said:
But if they don't deny the breach this time they will have co-operated like us so just 4 points
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Any co-operation (which I certainly haven’t seen) would be offset by the fact that they obviously haven’t reined in those losses so it’s considered as an aggravated breach.

Nobody knows what will happen but my opinion is that it will be 6 points…
 
TMFwanstead said:
No 777 are still waiting approval from the PL which normally would have been done months ago but there are question marks about them. Whether 777 may pull out themselves if Everton get a big points deduction is open to speculation of course
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777 have been told (apparently) that the EPL will approve once certain of their debts have been paid. 777 may well be stalling themselves as they wait to see where Everton end up.
 
mao tse tung said:
There is a paragraph in the Accounts and audit report which refers to a material uncertainty over club’s ability to trade as a going concern. As Maguire points out "this is not the same as saying administration is probable."

It looks like Everton engaging in emotional blackmail and are pointing out to the IC that a points deduction will tip them over the edge, and will probably frighten off the investment - 777 are clearly waiting to see what happens.
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I don't think this is right.
The EPL have not approved the buy out have they?
Or am I missing something?
 
Geedo61 said:
I don't think this is right.
The EPL have not approved the buy out have they?
Or am I missing something?
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No, they are due to meet the PL either this week or next.

Difficult to see how the PL could rule against them being fit and proper given that they already own four Clubs in Europe.

777 must be confident, they have already lent the Club 150m
 
mao tse tung said:
No, they are due to meet the PL either this week or next.

Difficult to see how the PL could rule against them being fit and proper given that they already own four Clubs in Europe.

777 must be confident, they have already lent the Club 150m
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777 are in debt up to their eyeballs…

www.google.com

Everton takeover: 'Very risky' 777 update as £3bn debt emerges

"Fresh concerns" have been raised over the prospective new Everton owners' finances after a far higher than expected debt revelation.
www.google.com www.google.com
 
mao tse tung said:
No, they are due to meet the PL either this week or next.

Difficult to see how the PL could rule against them being fit and proper given that they already own four Clubs in Europe.

777 must be confident, they have already lent the Club 150m
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I thought the latest loan - for April took it to £200m.
Last I read was that the EPL weren't sure that 777 had the money £500m+ needed to buy the club - they have forfeited on various other commitments with the other clubs they own.
It seemed strange to me that they can pump in £200m in loans - but not get approved by the EPL.
 
Basha73 said:
777 are in debt up to their eyeballs…

www.google.com

Everton takeover: 'Very risky' 777 update as £3bn debt emerges

"Fresh concerns" have been raised over the prospective new Everton owners' finances after a far higher than expected debt revelation.
www.google.com www.google.com
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That makes for bad reading!
If 777 have borrowed the money to loan to Everton - they are in real trouble. Even if the deal goes through - they will need to find £500m to buy Everton, £100m to finish the stadium and also service their debts to whoever they have £200m off!

You can see why they continue to lend more and more money to them as well. They can't afford Everton to go into administration either - as they will have no money coming in and will still owe £200m out!

What a mess
 
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