Subscriber RandoEFC+ 7,680 Posted April 8 Subscriber Share Posted April 8 Saw a good point that Everton should be appealing to have any points deduction suspended until next season given that no other club will ever be given penalties for two different time periods in the same season and that being inflicted upon Everton would come purely as a consequence of the Premier League's administrative processes. I assume we'll appeal any points deduction given today which means that teams in the relegation fight have to wait on the results of both ours and Forest's appeals during the last 6 games of the season. I know I've been going on about it all season but it's ridiculous and it destroys the sporting integrity of the league so it needs to continue being called out. However, we're probably better off getting hit with 2 points now and taking our chances than starting on -2 next season with Leicester and Leeds to contend with instead of the shambles the Championship has had to offer this season and after our squad has been asset stripped just to keep the club afloat yet again. Quote Link to comment Share on other sites More sharing options...
Administrator Stan 18,428 Posted April 8 Administrator Share Posted April 8 2-point deduction confirmed Quote Link to comment Share on other sites More sharing options...
Subscriber RandoEFC+ 7,680 Posted April 8 Subscriber Share Posted April 8 Racked up 35 points from 31 games. Had 8 taken off us. I think our treatment overall has been pretty scandalous but we would have been dead and buried either of the previous 2 years. Trying to look at the positives. Two points ahead of Forest and Luton with a much better goal difference than Luton and home games against Forest, Brentford and Sheffield Utd as well as Luton away remaining. We shouldn't get relegated from here but if we do then it's because of PSR. By the way, our two breaches combined still add up to less than Forest's breach and that's counting 2021 and 2022's accounts twice. We've lost 8 points and they've lost 4. Talk about fit for purpose, eh? Not to mention the fact their breach was for actually spending on players and ours is mostly interest on stadium loans but old ground, old ground. Quote Link to comment Share on other sites More sharing options...
Administrator Stan 18,428 Posted April 8 Administrator Share Posted April 8 Third penalty incoming? Quote Link to comment Share on other sites More sharing options...
Subscriber RandoEFC+ 7,680 Posted April 9 Subscriber Share Posted April 9 8 hours ago, Stan said: Third penalty incoming? Next season if at all. Quote Link to comment Share on other sites More sharing options...
Subscriber RandoEFC+ 7,680 Posted April 10 Subscriber Share Posted April 10 The stalemate continues. The Premier League have responded to the fan advisory board to basically say it isn't in their remit to "reject" 777 and force the owner to look for an alternative buyer, leaving us in limbo as long as 777 claim to be pursuing this. Moshiri won't talk to other buyers who are ready and willing to come and 'save' the club because they're not willing to buy his equity at the price 777 are willing to pay. All the while, the fans have no power to do anything but watch and wait. As far as I can see, there is no mechanism to stop this going on forever. Either 777 have to provide proof they can buy and fund the club which they haven't managed to do in 8 months, or Moshiri has to agree to sell to somebody else. That somebody else will either have to match 777's price (not going to happen) or Moshiri is going to have to cut his losses and agree to sell his shares to an alternative buyer for less money. The longer he keeps faith with 777, the more Everton gets saddled with further debt and the less appealing ownership of the club becomes, meaning he's likely to have even lower bids for his shares. Now we wait for Moshiri to come to the decision to cut his losses. I can't see how 777 are going to pass this fit and proper ownership test if they're asking for another extension now, so I think it's on Moshiri to end this. Sadly, Moshiri has shown time and time again that he doesn't tend to make either the most prudent decision in general or the decision in the best interests of the football club. It makes you wonder whether this fit and proper owners test should have an expiry date of say 3 months or the PL/EFL should have the means to conclusively reject an application, because this stalemate doesn't help anyone and all the parties worst affected (fans, staff, players) have no power to influence proceedings. Quote Link to comment Share on other sites More sharing options...
Subscriber RandoEFC+ 7,680 Posted April 15 Subscriber Share Posted April 15 MSP have decided that they'd rather just get their £160m loan repaid late than activate their option to become the majority shareholders of Everton. £160m is more appealing than owning a Premier League football club because of the mess that football club is. Encouraging for our future prospects. I honestly can't see how this ends in anything other than us going into administration and languishing in the lower leagues or going bust entirely. Quote Link to comment Share on other sites More sharing options...
Subscriber RandoEFC+ 7,680 Posted April 22 Subscriber Share Posted April 22 Probably good news that alternatives to 777 are being considered. I hope we don't follow the state ownership model though. Quote Link to comment Share on other sites More sharing options...
Administrator Stan 18,428 Posted April 30 Administrator Share Posted April 30 Another points deductions for insolvency? Only seen the headline so guess there's a lot more context to that potential. Quote Link to comment Share on other sites More sharing options...
Subscriber RandoEFC+ 7,680 Posted April 30 Subscriber Share Posted April 30 Moshiri has said publicly twice that he'll pay the bills if needs be, not that you can trust him. It's really stupid this. The stadium will be complete in December and at that point, the financial potential of the club and the business completely transforms. If the club can just survive that long then it actually becomes an appealing prospect because the issue at the moment is cash flow and the stadium will go some way to changing that. We wanted Moshiri to sell the club. It's typical of him that he found the one buyer who don't seem able to actually complete the purchase but have lent the club money in the interim which has ended up just saddling the club with more debt than we already had and making it harder for him to find an alternative buyer. It would be funny if we went into administration, beat Luton and Sheffield United and still stayed up with another 9 points taken off us, but I'm pretty sure you aren't allowed to take a points deduction on your own terms like that anymore. Cambridge Utd did it years ago, took the 10 point penalty two games before the end of the season after they'd already had relegation confirmed. Hopefully this is simply an enquiry and a case of the club having an idea of what all their options look like. Push has to come to shove here though. There's been a lot of rumours about other potential buyers waiting in the wings to swoop in when Moshiri gets desperate enough to reduce his price. The only worry is that those people are waiting for Everton to go into administration, clear the debt, and then purchase the club and the stadium with it debt-free and at a knock-down price. Quote Link to comment Share on other sites More sharing options...
The Palace Fan 3,409 Posted April 30 Share Posted April 30 Kieran Maguire has said previously that he knows of multiple people who would be interested in acquiring Everton if the club enter administration, so it may be one step backwards to go two steps forwards. Quote Link to comment Share on other sites More sharing options...
Subscriber RandoEFC+ 7,680 Posted April 30 Subscriber Share Posted April 30 1 hour ago, The Palace Fan said: Kieran Maguire has said previously that he knows of multiple people who would be interested in acquiring Everton if the club enter administration, so it may be one step backwards to go two steps forwards. Administration is more than one step backwards in this context. You're looking at almost certainly becoming a Championship club and having to sell off the new stadium and rent it back. It's not easy to get back from there even to where we are now let alone kick on at all. Quote Link to comment Share on other sites More sharing options...
Administrator Stan 18,428 Posted May 8 Administrator Share Posted May 8 At what point do Everton just scrap 777 Partners as a potential owner and look to other buyers? I know they've got loans repayable back to them but on the face of it they'll seem more of a hindrance to the club than a benefit? Quote Link to comment Share on other sites More sharing options...
Subscriber RandoEFC+ 7,680 Posted May 8 Subscriber Share Posted May 8 8 minutes ago, Stan said: At what point do Everton just scrap 777 Partners as a potential owner and look to other buyers? I know they've got loans repayable back to them but on the face of it they'll seem more of a hindrance to the club than a benefit? The sooner the better. Seen rumours that a resolution will be reached before the weekend. Presumably to cut ties. Some of our fans are positing conspiracy theories that we just needed their help with the running costs to get to the end of the season still in the Premier League and then Moshiri is somehow going to find money to keep us going or another buyer is going to be found. It's based on nothing but hope though. I'm not optimistic about where this ends. Nobody else wanted to pay Moshiri's price back in the summer. Now the club is slightly more attractive because the new stadium and the incomes that come with it is just months away from completion. But the club is also way less attractive as an asset because you've added £200m of additional debt owed to 777 into the mix. I can't see who's going to want to take the plunge. Quote Link to comment Share on other sites More sharing options...
Subscriber RandoEFC+ 7,680 Posted May 9 Subscriber Share Posted May 9 There's a lot coming out now about alternative buyers. Maybe we could come through all of this and actually be a normal club again in a few years time? A man can dream. Quote Link to comment Share on other sites More sharing options...
Administrator Stan 18,428 Posted May 10 Administrator Share Posted May 10 Points deduction appeal withdrawn Quote Everton have withdrawn their appeal against a two-point deduction for breaching Premier League financial rules. The Toffees were docked two points after an independent commission found the club had breached profit and sustainability rules (PSR) by £16.6m for the three-year period to 2022-23. The appeal was due to take place next week with a verdict announced before the final game of the season at Arsenal on 19 May. The Toffees had a 10-point deduction reduced to six on appeal in February for PSR breaches in the three-year period to 2021-22. Successive home wins over Nottingham Forest, Liverpool and Brentford last month secured Everton's Premier League safety. They face Sheffield United in their final home game of the season at Goodison Park on Saturday at 15:00 BST. Nottingham Forest's appeal against their four-point deduction for breaching PSR rules was rejected by an independent panel on Tuesday. In its written reasons for Everton's most recent deduction, the independent commission said the Premier League's starting point for any PSR sanction was a five-point deduction but conceded two should be taken off because of the overlap in the years that were assessed in the club's two cases. The commission decided that any breach of PSR justifies a three-point deduction, with an additional two points because Everton's breach of £16.6m - 15.8% above the £105m threshold - was deemed significant. However, the commission accepted Everton's arguments for mitigation in relation to the fact the club had already been deducted points this season, suffered a loss of revenue because of the suspension of a sponsorship deal with Russian company USM and made an early admission of guilt. This led to the sanction being reduced to two points. The Merseyside club could face a further points deduction in relation to interest costs associated with the building of the club's new stadium at Bramley-Moore Dock, though there is no timescale for that issue to be resolved. Director of football Kevin Thelwell says Everton's financial situation means players will be sold this summer and the club will utilise the loan market to help strengthen the squad. "Whilst we want to ensure the team is as competitive as possible, we cannot lose sight of our central objective to protect the long-term stability of the club," Thelwell wrote in his programme notes for the Sheffield United game. Quote Link to comment Share on other sites More sharing options...
Dr. Gonzo 8,200 Posted May 10 Share Posted May 10 1 minute ago, Stan said: Points deduction appeal withdrawn Should give them another points deduction for bothering to lodge a frivolous appeal Quote Link to comment Share on other sites More sharing options...
Subscriber RandoEFC+ 7,680 Posted May 10 Subscriber Share Posted May 10 Sounds like 777 are basically about to go bust. Standard Liege players unpaid, tonight's game versus Westerlo abandoned because their fans were protesting and the team coaches couldn't get through. Quote Link to comment Share on other sites More sharing options...
Dr. Gonzo 8,200 Posted May 10 Share Posted May 10 1 minute ago, RandoEFC said: Sounds like 777 are basically about to go bust. Standard Liege players unpaid, tonight's game versus Westerlo abandoned because their fans were protesting and the team coaches couldn't get through. They're being sued for fraud ($600m USD!) by one of their financial backers and have just hired a firm that assists companies restructure their way out of bankruptcy. 777 are absolutely fucked and there's no way in hell they should be allowed to take over any clubs in football. Even if they survive bankruptcy, or even manage to avoid it altogether, they're not going to be in any financial condition to be running any football club. Shit for Everton, still, because even if 777 declare bankruptcy and go through all the proceedings - Everton still have to pay their loan back to them. Quote Link to comment Share on other sites More sharing options...
Subscriber RandoEFC+ 7,680 Posted May 10 Subscriber Share Posted May 10 There have been other owners that have been more corrupt and/or left their clubs in a worse state than he has (so far), but in terms of idiocy, Farhad Moshiri has to be the stupidest man who has ever owned a football club. He believes everything he gets told even now. The list of people who have had his pants down since he came into football is endless, starting with Bill Kenwright, through several managers, "super-agents" and their players, all the way through to 777. How these people make their billions in the first place is absolutely beyond me. Quote Link to comment Share on other sites More sharing options...
LFCMike 3,015 Posted May 11 Share Posted May 11 So are they going under or not? Quote Link to comment Share on other sites More sharing options...
Subscriber RandoEFC+ 7,680 Posted May 12 Subscriber Share Posted May 12 19 hours ago, LFCMike said: So are they going under or not? Unlikely but not impossible. Quote Link to comment Share on other sites More sharing options...
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