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tsf
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Melbourne Victory has secured its financial future after the death of former director Mario Biasin, with an American private investment firm to add the A-Leagues club to its growing network of teams across Europe and South America.777 Partners, a Miami-based private equity firm which owns stakes in La Liga side Sevilla, Serie B team Genoa, Paris-based Red Star FC and Brazilian club Vasco De Gama, will be unveiled as Victory’s newest shareholders on Wednesday.
The Australian putting it as a record sports club evaluation in Australia.
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tsf
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Also signed the biggest sponsorship deal in their history. A four year deal with Bonza,
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Melbcityguy
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+xAlso signed the biggest sponsorship deal in their history. A four year deal with Bonza, Yes. This is good news so this thread will only get four replies
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robbos
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+x+xAlso signed the biggest sponsorship deal in their history. A four year deal with Bonza, Yes. This is good news so this thread will only get four replies No MSC is already on, so that ensure a few more posts.
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Monoethnic Social Club
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+x+x+xAlso signed the biggest sponsorship deal in their history. A four year deal with Bonza, Yes. This is good news so this thread will only get four replies No MSC is already on, so that ensure a few more posts. Have you looked up "Multiculturalism" in the dictionary yet turbo? Too busy looking at pictures of girls 1/4 your age on the internet eh you dirty old bugger....
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robbos
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+x+x+x+xAlso signed the biggest sponsorship deal in their history. A four year deal with Bonza, Yes. This is good news so this thread will only get four replies No MSC is already on, so that ensure a few more posts. Have you looked up "Multiculturalism" in the dictionary yet turbo? Too busy looking at pictures of girls 1/4 your age on the internet eh you dirty old bugger.... See what I mean.
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BrisbaneBhoy
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+x+x+x+x+xAlso signed the biggest sponsorship deal in their history. A four year deal with Bonza, Yes. This is good news so this thread will only get four replies No MSC is already on, so that ensure a few more posts. Have you looked up "Multiculturalism" in the dictionary yet turbo? Too busy looking at pictures of girls 1/4 your age on the internet eh you dirty old bugger.... See what I mean. 😄
🇮🇪Hail Hail🇮🇪
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numklpkgulftumch
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+x+xAlso signed the biggest sponsorship deal in their history. A four year deal with Bonza, Yes. This is good news so this thread will only get four replies The private equity investor was given the option to own up to 70 per cent of the club within five years through an investment of up to $30 million, the documents show.
After four or five years, 777 Partners also had the right to walk away from Victory and be repaid the $30 million at a compounding interest rate of 10 per cent a year.
The deal would also give it a preferential position over existing shareholders if Victory was liquidated.
When the deal was announced, Victory chairman Anthony Di Pietro described it as a “strategic investment” that would “supercharge its growth strategy”. 
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numklpkgulftumch
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+x+x+xAlso signed the biggest sponsorship deal in their history. A four year deal with Bonza, Yes. This is good news so this thread will only get four replies The private equity investor was given the option to own up to 70 per cent of the club within five years through an investment of up to $30 million, the documents show.
After four or five years, 777 Partners also had the right to walk away from Victory and be repaid the $30 million at a compounding interest rate of 10 per cent a year.
The deal would also give it a preferential position over existing shareholders if Victory was liquidated.
When the deal was announced, Victory chairman Anthony Di Pietro described it as a “strategic investment” that would “supercharge its growth strategy”. Nothing to see here. 
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numklpkgulftumch
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+x+x+x+xAlso signed the biggest sponsorship deal in their history. A four year deal with Bonza, Yes. This is good news so this thread will only get four replies The private equity investor was given the option to own up to 70 per cent of the club within five years through an investment of up to $30 million, the documents show.
After four or five years, 777 Partners also had the right to walk away from Victory and be repaid the $30 million at a compounding interest rate of 10 per cent a year.
The deal would also give it a preferential position over existing shareholders if Victory was liquidated.
When the deal was announced, Victory chairman Anthony Di Pietro described it as a “strategic investment” that would “supercharge its growth strategy”. Nothing to see here. Additional aircraft intended for the airline have been redirected elsewhere, in one instance to Poland due to the airline not being ready to pilot an extra plane. But delivery of another 737-Max 8 was redirected to the Canadian low-cost carrier Flair – another subsidiary of 777 Partners, the US private equity firm that funded Bonza’s establishment and is its largest single shareholder. That followed four of Flair’s aircraft being repossessed this year due to missed payments and debts. Last week 777 Partners said it looked forward to “vigorously defending” a lawsuit filed in Delaware in the US by its former principal Timothy O’Neil-Dunne. While the legal action relates to his time with the group, it also includes claims that 777 Partners – which also invests in fintech, litigation and sports teams including Melbourne Victory – financially exploited its subsidiary airlines by overcharging for the planes it leases to them. Canadian media reported Flair was repaying a loan to 777 Partners at 18% interest. Regarding the allegations of lease overcharging, Povey told Guardian Australia: “Let me put it this way, it has been a significant journey to get where we are today. It was 15 months of investment and support to get Bonza off the ground.” “We simply wouldn’t be here today if it weren’t for 777 Partners. We’ve been incredibly supported and it’s hard to break through in the Australian market given the duopoly, and they believe in what we do.” 777 Partners said “the allegations in the lawsuit are frivolous, and 777 Partners look forward to vigorously defending our case”. “All leasing relationships have been struck at an arm’s length, fully commercial basis with respect to all terms and conditions. We vehemently deny any accusations stating we are seeking to disadvantage the airlines as it would simply be illogical and counter to our own interests. We remain steadfast in our support of the airlines we work with.” https://www.theguardian.com/australia-news/2023/jul/13/bonza-airlines-axes-regional-routes-sunshine-coast-coffs-harbour-port-macquarie-tamworth
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numklpkgulftumch
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+xAlso signed the biggest sponsorship deal in their history. A four year deal with Bonza, Owned by 777 But don't actually fly......
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tsf
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check out some of the heads on their HR and legal department https://www.777part.com/people/:D:D:D:D:D:D:D
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Monoethnic Social Club
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hahahaah looks like your club is in very good hands..... foreign ones but eh, whatever. Miami sportwashing...... hahahahah
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tsf
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+xhahahaah looks like your club is in very good hands..... foreign ones but eh, whatever. Miami sportwashing...... hahahahah They have only taken over Metricon's asset from what I can see, so obviously have influence but no majority
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Monoethnic Social Club
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+x+xhahahaah looks like your club is in very good hands..... foreign ones but eh, whatever. Miami sportwashing...... hahahahah They have only taken over Metricon's asset from what I can see, so obviously have influence but no majority PPPFFFFFTTTTTT they're just another ethnic club now, like the rest of us :)
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bettega
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Both the evaluation and the record sponsorship deal are both good news for Victory, and it's something positive for the A-league as well at this point.
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robbos
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+xBoth the evaluation and the record sponsorship deal are both good news for Victory, and it's something positive for the A-league as well at this point. Yes great news for Victory, very positive for both them & the A-league. Hopefully only victory for MV this week.
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Midfielder
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seems os folk have more faith in Australian Football than locals...
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bohemia
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+xseems os folk have more faith in Australian Football than locals... OS investors know football is a capitalist game. Australian bureaucrats go about their lives fighting it every way they can find.
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playmaker11
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Yuck.
By now, American Samoa must have realised that Australias 22-0 win over Tonga two days earlier was no fluke.
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Monoethnic Social Club
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Yuck is correct answer :)  https://josimarfootball.com/2023/07/03/the-777-football-mystery/From cocaine smuggling to threatening disabled people and kidnapping the children of drug addicted clients,...... great to know APL vetted the overseas owners carefully.
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numklpkgulftumch
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A Ponzi scheme being fleeced by another Ponzi scheme Who'll survive ? 
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Monoethnic Social Club
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+xA Ponzi scheme being fleeced by another Ponzi scheme Who'll survive ? The FA and all the proper clubs outside of APLs influence.....
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tsf
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Finally some real football club owners in the A-League! lol
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Monoethnic Social Club
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+xFinally some real football club owners in the A-League! lol Hahahahah its OK mate, they dont have any "effnik" flags in their offices.
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tsf
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+x+xFinally some real football club owners in the A-League! lol Hahahahah its OK mate, they dont have any "effnik" flags in their offices. I remember years ago, being with mates at a Balkan club, the coke dealer was not only giving everyone a good time but at the end of the game the officals all came in to collect money off him and then also to hand out to all the players who hit their targets for the game :D
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Monoethnic Social Club
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+x+x+xFinally some real football club owners in the A-League! lol Hahahahah its OK mate, they dont have any "effnik" flags in their offices. I remember years ago, being with mates at a Balkan club, the coke dealer was not only giving everyone a good time but at the end of the game the officals all came in to collect money off him and then also to hand out to all the players who hit their targets for the game :D hahahah I don't doubt that one tiny bit......... Who was the club in the 90s (Im almost positive it was former Yugo country post breakup but could be wrong) that had the owner's drug dealer as the front of shirt sponsor?
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tsf
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+x+x+x+xFinally some real football club owners in the A-League! lol Hahahahah its OK mate, they dont have any "effnik" flags in their offices. I remember years ago, being with mates at a Balkan club, the coke dealer was not only giving everyone a good time but at the end of the game the officals all came in to collect money off him and then also to hand out to all the players who hit their targets for the game :D hahahah I don't doubt that one tiny bit......... Who was the club in the 90s (Im almost positive it was former Yugo country post breakup but could be wrong) that had the owner's drug dealer as the front of shirt sponsor? h aha I don't know. But I remember some pretty wild stories about Arkan in Serbia
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numklpkgulftumch
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So,
1. 777 charge Victory a 'hefty' interest rate,
2. Cashless Victory pay it with shares so
3. 777 end up with 70% of the club without much more cash layout ?
is that how it works ?
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numklpkgulftumch
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+xSo, 1. 777 charge Victory a 'hefty' interest rate, 2. Cashless Victory pay it with shares so 3. 777 end up with 70% of the club without much more cash layout ? is that how it works ? Actually, zooming out a bit Plan 1. APL uses Silverlake funds to buy 1 Marquee for the Season and give it to the biggest franchise 2. Victory will bring back bigger crowds/metrics 3. Paramount happy 4. APL put the License fee up to $25m 5. Victory make enough to pay off 777 6. In return Del Pietro just approves the Sydney Grand Finals for 3 years 7. Happy Days Reality 7. A-League fans find a spine 8. Del Pietro U-turns 9.  10. Del Pietro exits stage left 11. APL now propping up 2 franchises and looking for 4 more buyers
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numklpkgulftumch
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Sevilla, for all their improbable triumphs in the UEFA Europa League, have lost close to 60 million euro over the last couple of years, and according to reports in the Spanish media, have transfer-listed their whole squad at the end of June in order to service the 90 million euro debt. Genoa has announced losses of 61.7 million euro for the 2021-22 season, whilst Vasco de Gama’s deficit was just under 22 million US dollars for the same period. Standard Liège did not fare any better in 2021-22, losing 20.2 million euro, and nor did Red Star, who were reported to be in the red to the tune of 2.4 million, a fortune for a club playing in the National, the third tier of the French football pyramid. Hertha BSC’s accounts for 2021-22 reveal a consolidated loss of 79.6 million euro ( compared to a 83.3 million for the previous year) which makes it easier to understand why Windhorst was keen to find a buyer. Last, Melbourne Victory FC was 4.5 million US dollars short of breaking even last season. Is this right ? 
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numklpkgulftumch
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+xSevilla, for all their improbable triumphs in the UEFA Europa League, have lost close to 60 million euro over the last couple of years, and according to reports in the Spanish media, have transfer-listed their whole squad at the end of June in order to service the 90 million euro debt. Genoa has announced losses of 61.7 million euro for the 2021-22 season, whilst Vasco de Gama’s deficit was just under 22 million US dollars for the same period. Standard Liège did not fare any better in 2021-22, losing 20.2 million euro, and nor did Red Star, who were reported to be in the red to the tune of 2.4 million, a fortune for a club playing in the National, the third tier of the French football pyramid. Hertha BSC’s accounts for 2021-22 reveal a consolidated loss of 79.6 million euro ( compared to a 83.3 million for the previous year) which makes it easier to understand why Windhorst was keen to find a buyer. Last, Melbourne Victory FC was 4.5 million US dollars short of breaking even last season. Is this right ? Crikey ! it is https://www.theage.com.au/sport/soccer/record-financial-loss-at-melbourne-victory-as-us-ownership-looms-20221231-p5c9kr.htmlMelbourne Victory lost $6.7 million and was in deep financial trouble just months before it struck a deal that could hand control of the club to a US private equity investor within five years. So bad were the financial problems at the A-League’s best supported club that Victory’s auditors warned there was “material uncertainty” it could continue as a “going concern”, the club’s 2021-22 accounts show.
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bohemia
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Thankfully there was a lot of action taken at league and club level to ensure that MV's attendances/revenues shot right back up in the next season
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numklpkgulftumch
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Wonder if the EPL will OK this 777 bought a 45% stake in the British Basketball League in 2021, in a deal which was determined to present no conflict of interest despite the same firm also owning the London Lions, who won the title last season. In a statement, 777 said it "categorically confirms that there is no investigation into its ownership of the London Lions, and that these rumours are completely unfounded". . . . "They have very much got a portfolio full of distressed assets and struggling football clubs, and while there has been considerable work undertaken in growing their portfolio, there’s been very little in terms of on-pitch success to suggest that this will be any different for Everton. https://www.bbc.com/sport/football/teams/everton
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riquelmes_laces
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+xWonder if the EPL will OK this 777 bought a 45% stake in the British Basketball League in 2021, in a deal which was determined to present no conflict of interest despite the same firm also owning the London Lions, who won the title last season. In a statement, 777 said it "categorically confirms that there is no investigation into its ownership of the London Lions, and that these rumours are completely unfounded". . . . "They have very much got a portfolio full of distressed assets and struggling football clubs, and while there has been considerable work undertaken in growing their portfolio, there’s been very little in terms of on-pitch success to suggest that this will be any different for Everton. https://www.bbc.com/sport/football/teams/everton Many in the UK are stating 777 won't pass the smell test with their muted takeover of Everton.
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Monoethnic Social Club
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+x+xWonder if the EPL will OK this 777 bought a 45% stake in the British Basketball League in 2021, in a deal which was determined to present no conflict of interest despite the same firm also owning the London Lions, who won the title last season. In a statement, 777 said it "categorically confirms that there is no investigation into its ownership of the London Lions, and that these rumours are completely unfounded". . . . "They have very much got a portfolio full of distressed assets and struggling football clubs, and while there has been considerable work undertaken in growing their portfolio, there’s been very little in terms of on-pitch success to suggest that this will be any different for Everton. https://www.bbc.com/sport/football/teams/everton Many in the UK are stating 777 won't pass the smell test with their muted takeover of Everton. Poor Toffees are probably itching to see the back of Moshiri but this is just sad now .....
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LFC.
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+x+x+xWonder if the EPL will OK this 777 bought a 45% stake in the British Basketball League in 2021, in a deal which was determined to present no conflict of interest despite the same firm also owning the London Lions, who won the title last season. In a statement, 777 said it "categorically confirms that there is no investigation into its ownership of the London Lions, and that these rumours are completely unfounded". . . . "They have very much got a portfolio full of distressed assets and struggling football clubs, and while there has been considerable work undertaken in growing their portfolio, there’s been very little in terms of on-pitch success to suggest that this will be any different for Everton. https://www.bbc.com/sport/football/teams/everton Many in the UK are stating 777 won't pass the smell test with their muted takeover of Everton. Poor Toffees are probably itching to see the back of Moshiri but this is just sad now ..... too true and even I feel a bit of sorry for them hahaha
Love Football
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riquelmes_laces
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+x+x+x+xWonder if the EPL will OK this 777 bought a 45% stake in the British Basketball League in 2021, in a deal which was determined to present no conflict of interest despite the same firm also owning the London Lions, who won the title last season. In a statement, 777 said it "categorically confirms that there is no investigation into its ownership of the London Lions, and that these rumours are completely unfounded". . . . "They have very much got a portfolio full of distressed assets and struggling football clubs, and while there has been considerable work undertaken in growing their portfolio, there’s been very little in terms of on-pitch success to suggest that this will be any different for Everton. https://www.bbc.com/sport/football/teams/everton Many in the UK are stating 777 won't pass the smell test with their muted takeover of Everton. Poor Toffees are probably itching to see the back of Moshiri but this is just sad now ..... too true and even I feel a bit of sorry for them hahaha Surely as a scouser you'd be upset if Everton went down. Whatever the position they are on the table, no Merseyside derby is just something I couldn't fathom.
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SUTHERLANDBEAR
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777 buying a major share in Everton.
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riquelmes_laces
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+x777 buying a major share in Everton. If the FA approves whether they are fit for ownership.
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numklpkgulftumch
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+x+x777 buying a major share in Everton. If the FA approves whether they are fit for ownership. The sale is expected to be completed by the end of 2023, subject to - Premier League,
- Football Association and
- Financial Conduct Authority approval.
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Monoethnic Social Club
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+x+x+x777 buying a major share in Everton. If the FA approves whether they are fit for ownership. The sale is expected to be completed by the end of 2023, subject to - Premier League,
- Football Association and
- Financial Conduct Authority approval.
Josh Wander, the 777 founder, said: "We are truly humbled by the opportunity to become part of the Everton family as custodians of the club, and consider it a privilege to be able to build on its proud heritage and values."Our primary objective is to work with fans and stakeholders to develop the sporting and commercial infrastructure for the men's and women's teams that will deliver results for future generations of Everton supporters." Oh boy, They might want to check with 777's other football "assets" Herta are now in the second division, Sevilla are in the relegation zone and Standard Leige's fans are in active revolt against their owners. As for Melbourne Victory????? lets see if they are still around next year :)
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PGR
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+x+x+x+x777 buying a major share in Everton. If the FA approves whether they are fit for ownership. The sale is expected to be completed by the end of 2023, subject to - Premier League,
- Football Association and
- Financial Conduct Authority approval.
Josh Wander, the 777 founder, said: "We are truly humbled by the opportunity to become part of the Everton family as custodians of the club, and consider it a privilege to be able to build on its proud heritage and values."Our primary objective is to work with fans and stakeholders to develop the sporting and commercial infrastructure for the men's and women's teams that will deliver results for future generations of Everton supporters." Oh boy, They might want to check with 777's other football "assets" Herta are now in the second division, Sevilla are in the relegation zone and Standard Leige's fans are in active revolt against their owners. As for Melbourne Victory????? lets see if they are still around next year :) I'm sure the prospect would excite you, Con.
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Monoethnic Social Club
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+x+x+x+x+x777 buying a major share in Everton. If the FA approves whether they are fit for ownership. The sale is expected to be completed by the end of 2023, subject to - Premier League,
- Football Association and
- Financial Conduct Authority approval.
Josh Wander, the 777 founder, said: "We are truly humbled by the opportunity to become part of the Everton family as custodians of the club, and consider it a privilege to be able to build on its proud heritage and values."Our primary objective is to work with fans and stakeholders to develop the sporting and commercial infrastructure for the men's and women's teams that will deliver results for future generations of Everton supporters." Oh boy, They might want to check with 777's other football "assets" Herta are now in the second division, Sevilla are in the relegation zone and Standard Leige's fans are in active revolt against their owners. As for Melbourne Victory????? lets see if they are still around next year :) I'm sure the prospect would excite you, Con. My name isn't Con but the rest of that pathetic attempt at a racist slur rings true Pasquale.
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numklpkgulftumch
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+x+x+x777 buying a major share in Everton. If the FA approves whether they are fit for ownership. The sale is expected to be completed by the end of 2023, subject to - Premier League,
- Football Association and
- Financial Conduct Authority approval.
Apparently the reason for the need for Financial Conduct Authority approval would be if Everton is being purchased by a loan secured against future broadcasting revenues. i.e. won't require 777 to use it's own cash. Given they'll need to find approx 500 million pounds just to pay off 2 current loans and finish the new Stadium, I'm not sure if that's good or bad.
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numklpkgulftumch
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Group: Forum Members
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+x+x+x+x777 buying a major share in Everton. If the FA approves whether they are fit for ownership. The sale is expected to be completed by the end of 2023, subject to - Premier League,
- Football Association and
- Financial Conduct Authority approval.
Apparently the reason for the need for Financial Conduct Authority approval would be if Everton is being purchased by a loan secured against future broadcasting revenues. i.e. won't require 777 to use it's own cash. Given they'll need to find approx 500 million pounds just to pay off 2 current loans and finish the new Stadium, I'm not sure if that's good or bad. https://www.nytimes.com/2023/10/18/world/europe/everton-sale-777-partners.htmlThe proposed sale of the Premier League soccer team Everton F.C. to a Miami-based holding company has stalled because the firm, 777 Partners, has failed to provide audited financial statements to a British government regulator that must approve the deal.
The regulator, the Financial Conduct Authority, delivered its request to 777 Partners this month, according to multiple people with direct knowledge of the approval process, who spoke on the condition of anonymity because they were not authorized to discuss it publicly.
If the company does not provide the requested financials or an acceptable explanation, its proposed takeover of Everton — a deal involving hundreds of millions of dollars in assumed debt and a coveted place in the world’s richest soccer league — could fall apart.
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The questions mirror concerns that the Belgian soccer authorities raised last year as they considered whether to grant a license to another one of the company’s teams, Standard Liège.
In those discussions, 777 Partners told the Belgian soccer federation’s licensing committee that it could not provide the firm’s most recently audited accounts — a routine requirement in any assessment of the suitability and solidity of the businesses financing teams in the country’s top league.
Eventually, the prospect of tossing one of Belgian soccer’s biggest teams out of the league was deemed unacceptable by the committee, and a compromise was found.
Now, 777 Partners finds itself in the same position, and the clock is ticking again.
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numklpkgulftumch
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+x+x+x+x777 buying a major share in Everton. If the FA approves whether they are fit for ownership. The sale is expected to be completed by the end of 2023, subject to - Premier League,
- Football Association and
- Financial Conduct Authority approval.
Apparently the reason for the need for Financial Conduct Authority approval would be if Everton is being purchased by a loan secured against future broadcasting revenues. i.e. won't require 777 to use it's own cash. Given they'll need to find approx 500 million pounds just to pay off 2 current loans and finish the new Stadium, I'm not sure if that's good or bad. Ooops, they forgot to tell the FCA about the 777 Groups USD $600 million loss in 2021/22 https://josimarfootball.com/2023/11/06/full-disclosure/primarily due to punishing debt repayments, with “interest expense” totalling over 427 million dollars for that period,
and to an “unrealized change in fair value of financial assets” which saw a colossal 557.5 million dollars removed from the balance sheet."
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numklpkgulftumch
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+xThe sale is expected to be completed by the end of 2023, subject to - Premier League,
- Football Association and
- Financial Conduct Authority approval.
2. Football Association have approved them https://www.telegraph.co.uk/football/2023/11/04/everton-takeover-777-partners-fa-green-light-board/1. & 3. to go
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numklpkgulftumch
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numklpkgulftumch
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Price of Football has been talking about this in 2 previous episodes also https://open.spotify.com/episode/2LZqLcE3NhbXpfjKFXkqKOhttps://open.spotify.com/episode/2kNwFuA3hUhZCtbxM2vI2mMost interesting for me is that it's claimed Melbourne Victory were on the point of going fully tit's up, So, APL pointed 777 at rescuing MV ahead of purchasing any of the other available Franchises Add to that APL then also using Silverlake money to only buy 1 Marquee, and for MV Looking more and more like a frantic rescue operation going on behind the scenes.
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LFC.
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hence to a degree saying I felt sorry for them and no derby would be sad and shock to all our systems. Really hope they hang in there as weird as it sounds saying it...... TBH I always have some kind of hurt for certain clubs when relegated when I have had a liking to X player/s or that they we're one of the old Clubs who we're in Div1 pre EPL due to their long time history. Last Toffees were relegated was '50/51 !
Love Football
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Feed_The_Brox
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I listened to the FVS pod and while some of the stuff was worrying (especially the USA Insurance scam, which i believe is illegal in Australia), there is no evidence to suggest they have negative intentions for Melbourne Victory at this point. For all her faults, Caroline Carnegie is an accomplished administrator.
Don't get me wrong, I'm not totally comfortable with the situation, but its not gonna keep me awake at night. Sportswashing by middle eastern governments is a far more moralistic problem for the game.
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numklpkgulftumch
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+xI listened to the FVS pod and while some of the stuff was worrying (especially the USA Insurance scam, which i believe is illegal in Australia), there is no evidence to suggest they have negative intentions for Melbourne Victory at this point. For all her faults, Caroline Carnegie is an accomplished administrator. Don't get me wrong, I'm not totally comfortable with the situation, but its not gonna keep me awake at night. Sportswashing by middle eastern governments is a far more moralistic problem for the game. The moral argument can go for ages I think the main difference is the Saudi PIF etc definitely has the cash to put in, and won't worry if it get's nothing back
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numklpkgulftumch
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British Basketball League feared for its future unless 777 Partners made delayed payment of £825k 777 Partners, were warned by the head of the British Basketball League (BBL) this month that the competition faced being put into “immediate administration” unless a delayed payment of £825,000 was received. The Times has seen an email from the BBL’s chairman, Sir Rodney Walker, to 777’s founders Josh Wander and Steve Pasko on September 6 warning that unless a late payment of £825,000 was received the league faced insolvency. The email said the BBL was “seeking legal advice regarding solvency which will become a major issue should funds not be forthcoming, leading to immediate administration”, and that an “overwhelming majority” of the ten clubs wanted to end the 777 agreement.
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Walker said he was happy to speak to Everton, the Premier League or any regulatory authority regarding what has taken place with the BBL and how it had been resolved. The 777 group agreed a £7 million investment package in the BBL in December 2021.
But less than two years on, in his email to Wander and Pasko, Walker warned of the “potential demise” of the league and spoke of threatened legal action from creditors.
The email added: “Following several missed payments from 777 Partners totalling circa £900k which placed the league in a position where a number of its creditors were unwilling to continue the supply of services, indeed the league was in receipt of threatened legal action from two, [the experience] has resulted in the overwhelming number of clubs in membership wishing to bring the agreement with 777 Partners to an end. “Notwithstanding the fact that delayed payments have subsequently been received there remains a loss of confidence in 777 Partners by the majority of clubs.”
Walker told The Times that after meetings with 777 this week he was now in “a much happier state of mind than when I wrote the email” and that a new funding deal had been reached with the company which would lead to it paying the remaining £823,000 of the £7 million by the end of September plus a further £4 million loan over the next two years. https://www.thetimes.co.uk/article/20e96e66-5950-11ee-9ad7-7384b2f230c5?shareToken=291dcd14a12ac44213d2214cad0336f8
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Monoethnic Social Club
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+xBritish Basketball League feared for its future unless 777 Partners made delayed payment of £825k 777 Partners, were warned by the head of the British Basketball League (BBL) this month that the competition faced being put into “immediate administration” unless a delayed payment of £825,000 was received. The Times has seen an email from the BBL’s chairman, Sir Rodney Walker, to 777’s founders Josh Wander and Steve Pasko on September 6 warning that unless a late payment of £825,000 was received the league faced insolvency. The email said the BBL was “seeking legal advice regarding solvency which will become a major issue should funds not be forthcoming, leading to immediate administration”, and that an “overwhelming majority” of the ten clubs wanted to end the 777 agreement.
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Walker said he was happy to speak to Everton, the Premier League or any regulatory authority regarding what has taken place with the BBL and how it had been resolved. The 777 group agreed a £7 million investment package in the BBL in December 2021.
But less than two years on, in his email to Wander and Pasko, Walker warned of the “potential demise” of the league and spoke of threatened legal action from creditors.
The email added: “Following several missed payments from 777 Partners totalling circa £900k which placed the league in a position where a number of its creditors were unwilling to continue the supply of services, indeed the league was in receipt of threatened legal action from two, [the experience] has resulted in the overwhelming number of clubs in membership wishing to bring the agreement with 777 Partners to an end. “Notwithstanding the fact that delayed payments have subsequently been received there remains a loss of confidence in 777 Partners by the majority of clubs.”
Walker told The Times that after meetings with 777 this week he was now in “a much happier state of mind than when I wrote the email” and that a new funding deal had been reached with the company which would lead to it paying the remaining £823,000 of the £7 million by the end of September plus a further £4 million loan over the next two years. https://www.thetimes.co.uk/article/20e96e66-5950-11ee-9ad7-7384b2f230c5?shareToken=291dcd14a12ac44213d2214cad0336f8 
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numklpkgulftumch
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- Peruvian clubs survive largely on TV money (from free to air up til now)
- 777 own 1190 Sports who bought the broadcasting rights from Peruvian Federation President somehow
- Presidents business mate is Director of 1190 Sports
- 1190 Sold on to Streaming Companies
- No-one's signing up for Streaming
- 1190 is making no profit
- Clubs are on profit share so are getting no TV Income so may got bust
- President currently being investigated for "alleged commission of the crimes of extortion, coercion and criminal organization"
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numklpkgulftumch
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Fresh concerns have been raised over 777 Partners after another of their clubs failed to meet payments on three transfers costing about €5.2m (£4.5m). The Brazilian side Vasco da Gama were hit with a transfer ban by Fifa on Friday after three clubs – Lille, Nacional of Uruguay and Atlético Tucumán of Argentina – notified world football’s governing body that they had not received fees for Léo Jardim, José Luis Rodríguez and Manuel Capasso respectively. Vasco, who are 70% owned by 777, missed a deadline to complete payments on all three deals before being sanctioned by Fifa, who said: “The club Vasco de Gama is currently prevented from registering new players due to an outstanding debt. The relevant ban will be lifted immediately upon the settlement of the debt being confirmed by the creditor concerned.” https://www.theguardian.com/football/2023/oct/02/evertons-prospective-new-owners-have-fifa-sanction-over-unpaid-transfer-fees
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numklpkgulftumch
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+xFresh concerns have been raised over 777 Partners after another of their clubs failed to meet payments on three transfers costing about €5.2m (£4.5m). The Brazilian side Vasco da Gama were hit with a transfer ban by Fifa on Friday after three clubs – Lille, Nacional of Uruguay and Atlético Tucumán of Argentina – notified world football’s governing body that they had not received fees for Léo Jardim, José Luis Rodríguez and Manuel Capasso respectively. Vasco, who are 70% owned by 777, missed a deadline to complete payments on all three deals before being sanctioned by Fifa, who said: “The club Vasco de Gama is currently prevented from registering new players due to an outstanding debt. The relevant ban will be lifted immediately upon the settlement of the debt being confirmed by the creditor concerned.” https://www.theguardian.com/football/2023/oct/02/evertons-prospective-new-owners-have-fifa-sanction-over-unpaid-transfer-fees Looks like they've shortpaid the 2nd Instalment of the actual Vasco da Gama club purchase. https://ge.globo.com/futebol/times/vasco/noticia/2023/10/05/vasco-nao-recebe-da-777-ouve-nova-promessa-e-vai-aguardar-ate-sexta-para-decidir-rumos.ghtml777 Partners did not deposit the full amount of the second contribution to Vasco , this Thursday, as provided for in the SAF purchase agreement. Early this Thursday evening, however, R$38.5 million entered the club's account. The Vasco partner is technically in default and the club can now activate a clause in the contract to regain control of football and retain 81% of the shares.
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numklpkgulftumch
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DT:- "We don't have concerns about it. They've passed a fit and proper persons test like every owner does in the [A-Leagues] and at that point they're in our league and we welcome them in.
They've been great supporters of Melbourne Victory so far.
Now what they do outside of Australia is up to them but so far they've been a real committed partner for the club." New York Times article reckons they interviewed a bunch of anonymous employees https://www.nytimes.com/2023/10/10/world/europe/everton-777-premier-league.html?smid=nytcore-ios-share&referringSource=articleShareMore than a dozen current or former employees, club officials and others who have done business with 777, however, revealed new details and questions about the sources of its financing.
The people asked not to be named because of relationships with the company.In interviews, they also shared details about unmet obligations and unpaid bills, and wondered if the company has the resources to manage a global network of clubs carrying hundreds of millions of dollars in debts and obligations.
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Monoethnic Social Club
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numklpkgulftumch
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Don't they learn ? https://www.theguardian.com/football/2019/mar/08/melbourne-victory-scrap-deal-with-acl-sponsor-linked-to-gamblingMaybe they should just be honest and bin the agreement with the Responsible Gambling Foundation
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numklpkgulftumch
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Latest investigative journalism piece
https://www.semafor.com/article/11/14/2023/the-money-behind-the-mystery-firm-buying-up-global-soccer
Like a lot of the cash sloshing around private equity these days, much of 777’s money comes from an unlikely and pedestrian source: insurance. The firm owns a Bermuda-based reinsurer whose policy premiums and annuities payments appear to have bankrolled much of its buying spree. Last week, those cozy ties between 777 Partners and its captive insurer sparked a credit-rating downgrade that may threaten its ability to fund its growing empire. A major credit-rating agency, AM Best, downgraded the insurer, 777 Re., because of its “weak” balance sheet and lack of up-to-date financial statements.
It cited the fact that the insurer is heavily invested in deals ginned up by its parent company, 777 Partners, and said it was troubled by “governance and risk management practices that led to the significant investment in affiliated assets” that the company has now promised to sell.
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numklpkgulftumch
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Seems that JOSIMAR has tracked down the dude who's lending 777 cash using Insurance Company Funds https://josimarfootball.com/2023/11/20/trials-and-tribulations/Turns out Kenneth King is also up before the beak on fraud charges that have been running for 5 years so far.
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numklpkgulftumch
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Josimar again Genoa going bankrupt unless they can squeeze out of their Tax Bill again https://josimarfootball.com/2023/11/22/on-the-brink/ Information received by Josimar suggests that these debts include an 18-month loan related to Tifosy Capital & Advisory, who recently launched a 5 million euro bond aimed at financing the building of facilities for Genoa’s youth and women’s teams, Sounded a bit familiar 
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numklpkgulftumch
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Latest Goss Feds probe sports investor 777 over money flowsThe federal prosecutor who won a conviction against Sam Bankman-Fried is overseeing a Justice Department investigation into sports buyer 777 Partners, whose entanglement with U.S. investors has raised questions about its already murky finances.
Nicolas Roos is part of a DOJ team probing whether 777 violated U.S. money-laundering laws, among other infractions, in its quick rise from an unknown investor in lump-sum legal settlements to an owner of sports teams around the world, people familiar with the matter said.
The Southern District of New York, where major financial-fraud cases tend to land, is discussing a joint investigation with law enforcement in Miami, where 777 is based, some of the people said. https://www.semafor.com/article/11/30/2023/feds-probe-sports-investor-777-over-money-flows#the-scoop
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numklpkgulftumch
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Lessors chase 777 Partners for $28m alleging non-payment for Flair 737s
Investment firm 777 Partners is being pursued by lessors of four aircraft formerly operated by Canadian carrier Flair Airlines, over allegations of non-payment. https://www.flightglobal.com/air-transport/lessors-chase-777-partners-for-28m-alleging-non-payment-for-flair-737s/156425.articleConsequently Bonza haven't got planes to fill their promised schedule The NT government said on December 1 that Bonza had been seeking certification for a Canadian plane to join its fleet after one of its five planes was disabled following a lightning strike. https://www.abc.net.au/news/2023-12-30/bonza-cancellations-darwin-gold-coast-route-refund-frustration/103272914
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numklpkgulftumch
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numklpkgulftumch
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The chief financial officer of 777 Partners, the cash-strapped investment firm trying to salvage its high-profile deal for the Everton soccer club, has resigned, people familiar with the matter said. Damien Alfalla joined 777 two years after it launched in 2015 and helped keep its cash-burning, dealmaking operation afloat. In recent months, 777 had been unable to produce audited financial reports, missing payroll, and borrowing heavily from its deal partners, Semafor has reported. An internal memo, sent yesterday by 777’s managing partners, said Alfalla would be replaced by Brett Kaufman, who had been running his own CFO outsourcing and consulting firm, according to his LinkedIn profile.
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numklpkgulftumch
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I think Pelligra coulda got MV for $1 if he'd hung on a little longer AM Best has downgraded the Financial Strength Rating to C- (Weak) from B (Fair) and the Long-Term Issuer Credit Rating to “ccc-” (Weak) from “bb” (Fair) of 777 Re. Ltd. (Hamilton, Bermuda). The ratings reflect 777 Re. Ltd.’s balance sheet strength, which AM Best assesses as very weak, as well as its marginal operating performance, very limited business profile and weak enterprise risk management.
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numklpkgulftumch
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Another unpaid Loan going to Court https://josimarfootball.com/2024/03/19/more-legal-woes-incoming/As Josh Wander and 777 Partners continue to wait on Premier League approval for their proposed takeover of Everton,
new legal papers filed in Florida reveal Russian oligarch Oleg Boyko is seeking a restraining order against them in a case referencing the club.
. . . 777 Partners is currently defending nine separate debt recovery lawsuits. At the same time, enquiries by the Bermuda Monetary Authority and the Utah Insurance Department into the activities of both 777re, it’s troubled Bermuda-based reinsurance arm, and “risk solution and service provider” A-CAP, who ceded assets to it, are continuing.
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tsf
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bonza are going under it looks like
lucky they have turkish airlines coming in to take over
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numklpkgulftumch
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+xbonza are going under it looks like lucky they have turkish airlines coming in to take over 
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tsf
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+x+xbonza are going under it looks like lucky they have turkish airlines coming in to take over turkish airlines have taken over the sponsorship? how is that not lucky for them?
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Monoethnic Social Club
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+xbonza are going under it looks like lucky they have turkish airlines coming in to take over Have you seen the way the Turkish economy is "thriving" under Erdogan's fiscal genius? I wouldn't put my faith in a 50% state owned national airline mate....
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tsf
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+x+xbonza are going under it looks like lucky they have turkish airlines coming in to take over Have you seen the way the Turkish economy is "thriving" under Erdogan's fiscal genius? I wouldn't put my faith in a 50% state owned national airline mate.... they're strong - over 5 billion profit or something last year
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Monoethnic Social Club
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+x+x+xbonza are going under it looks like lucky they have turkish airlines coming in to take over Have you seen the way the Turkish economy is "thriving" under Erdogan's fiscal genius? I wouldn't put my faith in a 50% state owned national airline mate.... they're strong - over 5 billion profit or something last year In Lira??? That was worth 5 billions AUSD 10 years ago now just 250 mill :P
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numklpkgulftumch
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https://www.abc.net.au/news/2024-04-30/bonza-flights-cancelled-business-viability-question/103783236?Mr Thomas said there were suspected problems with the company's aircraft leasing arrangements, and its financial backers
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tsf
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it would be very good for MV if 777 collapsed quickly as well by the looks of it, the first 19.9% was a equity buy so no loan
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numklpkgulftumch
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+xit would be very good for MV if 777 collapsed quickly as well by the looks of it, the first 19.9% was a equity buy so no loan Additionally based on the last accounts that loan deal hasn’t actually been drawn down on much.
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numklpkgulftumch
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numklpkgulftumch
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a bizarre development that has seen the public relations arm of the same firm with whom Everton are in talks over debt restructuring, Teneo, cease working for 777 over unpaid bills. Teneo had been 777’s UK PR advisors since Farhad Moshiri struck a deal to sell the club to the investment firm back in September. But it has refused to continue working for the firm until it is paid up in full, despite its own financial advisory arm potentially now advising Everton over that very same sale.
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numklpkgulftumch
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+xa bizarre development that has seen the public relations arm of the same firm with whom Everton are in talks over debt restructuring, Teneo, cease working for 777 over unpaid bills. Teneo had been 777’s UK PR advisors since Farhad Moshiri struck a deal to sell the club to the investment firm back in September. But it has refused to continue working for the firm until it is paid up in full, despite its own financial advisory arm potentially now advising Everton over that very same sale. When asked on Monday about the firm advising Everton, Daniel Butters, Teneo’s chief executive of financial advisory, said:
“We don’t comment on any client situations.”
The phone line then went dead.https://www.theguardian.com/football/2024/apr/30/everton-call-in-insolvency-restructuring-advisers-777-takeover-doubt?
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Feed_The_Brox
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I might be in the minority in the Vuck fandom, but I think 777 Partners have started well.
The men finishing third is a decent result after the disaster of last season. Its just a shame our football puts everyone to sleep.
The women performed as they always do in a very tight competition. Just a bit stiff to lose a final on penalties.
The club has changed tack since the takeover and placed a bigger focus on youth. And its starting to bare fruit after years of not giving a flying fuck. the NPL team won NPL3 last year and was promoted. This year they are undefeated and on top of NPL2. I'm also hearing though sources that Victory Youth teams are the most competitive of all 3 Melbourne teams. We pumped City 3-0 a few weeks ago., That would have been unthinkable 2 years ago.
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tsf
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Have just picked up spurs sponsor AIA
you must give credit to MV sponsorship team. They’ve kept many of the same sponsors at the club for a long time, their victory in business events are huge and they are attracting big business to the club when the league is diabolical.
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numklpkgulftumch
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+xHave just picked up spurs sponsor AIA you must give credit to MV sponsorship team. They’ve kept many of the same sponsors at the club for a long time, their victory in business events are huge and they are attracting big business to the club when the league is diabolical. Do Bonza get the cash in return for being extremely supportive ?  Looks like they could pay their staff for work done with it  https://www.abc.net.au/news/2024-05-03/bonza-staff-will-not-be-paid-for-april-told-to-seek-centrelink/103799880
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Monoethnic Social Club
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Hope none of the disgruntled staff are at AAMI on Sunday ... I wouldnt want this splashed in my face if I was them. Especially after lining up for 2 days at Centrelink. 
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numklpkgulftumch
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+xHope none of the disgruntled staff are at AAMI on Sunday ... I wouldnt want this splashed in my face if I was them. Especially after lining up for 2 days at Centrelink. already Gonza 
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tsf
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+x+xHope none of the disgruntled staff are at AAMI on Sunday ... I wouldnt want this splashed in my face if I was them. Especially after lining up for 2 days at Centrelink. already Gonza good bit of business
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Monoethnic Social Club
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+x+x+xHope none of the disgruntled staff are at AAMI on Sunday ... I wouldnt want this splashed in my face if I was them. Especially after lining up for 2 days at Centrelink. already Gonza good bit of business Looks better than "bonza" :P Did victory get much out of this for the couple of games it will be worn?
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numklpkgulftumch
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+x+x+xHope none of the disgruntled staff are at AAMI on Sunday ... I wouldnt want this splashed in my face if I was them. Especially after lining up for 2 days at Centrelink. already Gonza good bit of business How much ? and who got it ?
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libelous
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+x+x+x+xHope none of the disgruntled staff are at AAMI on Sunday ... I wouldnt want this splashed in my face if I was them. Especially after lining up for 2 days at Centrelink. already Gonza good bit of business How much ? and who got it ? I think they would have had to pay AIA to use their logo!
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Quicky
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+x+x+x+x+xHope none of the disgruntled staff are at AAMI on Sunday ... I wouldnt want this splashed in my face if I was them. Especially after lining up for 2 days at Centrelink. already Gonza good bit of business How much ? and who got it ? I think they would have had to pay AIA to use their logo! Yeah thats logical...
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tsf
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+x+x+x+xHope none of the disgruntled staff are at AAMI on Sunday ... I wouldnt want this splashed in my face if I was them. Especially after lining up for 2 days at Centrelink. already Gonza good bit of business How much ? and who got it ? Extra 50,000 for every week in the finals, so 100k after this weekend (50k each leg of next game - so 150k guaranteed), a bonus of 75k if they win the GF, with option to sponsor ACL
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Monoethnic Social Club
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+x+x+x+x+xHope none of the disgruntled staff are at AAMI on Sunday ... I wouldnt want this splashed in my face if I was them. Especially after lining up for 2 days at Centrelink. already Gonza good bit of business How much ? and who got it ? Extra 50,000 for every week in the finals, so 100k after this weekend (50k each leg of next game - so 150k guaranteed), a bonus of 75k if they win the GF, with option to sponsor ACL Thats good business indeed.
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libelous
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+x+x+x+x+x+xHope none of the disgruntled staff are at AAMI on Sunday ... I wouldnt want this splashed in my face if I was them. Especially after lining up for 2 days at Centrelink. already Gonza good bit of business How much ? and who got it ? Extra 50,000 for every week in the finals, so 100k after this weekend (50k each leg of next game - so 150k guaranteed), a bonus of 75k if they win the GF, with option to sponsor ACL Thats good business indeed. If true 🤫
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Monoethnic Social Club
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+x+x+x+x+x+x+xHope none of the disgruntled staff are at AAMI on Sunday ... I wouldnt want this splashed in my face if I was them. Especially after lining up for 2 days at Centrelink. already Gonza good bit of business How much ? and who got it ? Extra 50,000 for every week in the finals, so 100k after this weekend (50k each leg of next game - so 150k guaranteed), a bonus of 75k if they win the GF, with option to sponsor ACL Thats good business indeed. If true 🤫 +x+x+x+x+x+x+xHope none of the disgruntled staff are at AAMI on Sunday ... I wouldnt want this splashed in my face if I was them. Especially after lining up for 2 days at Centrelink. already Gonza good bit of business How much ? and who got it ? Extra 50,000 for every week in the finals, so 100k after this weekend (50k each leg of next game - so 150k guaranteed), a bonus of 75k if they win the GF, with option to sponsor ACL Thats good business indeed. If true 🤫 No I believe it, its about what most NPL clubs get for the whole season front of shirt so why not?
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Hillbilly55
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+x+x+x+x+x+x+x+xHope none of the disgruntled staff are at AAMI on Sunday ... I wouldnt want this splashed in my face if I was them. Especially after lining up for 2 days at Centrelink. already Gonza good bit of business How much ? and who got it ? Extra 50,000 for every week in the finals, so 100k after this weekend (50k each leg of next game - so 150k guaranteed), a bonus of 75k if they win the GF, with option to sponsor ACL Thats good business indeed. If true 🤫 +x+x+x+x+x+x+xHope none of the disgruntled staff are at AAMI on Sunday ... I wouldnt want this splashed in my face if I was them. Especially after lining up for 2 days at Centrelink. already Gonza good bit of business How much ? and who got it ? Extra 50,000 for every week in the finals, so 100k after this weekend (50k each leg of next game - so 150k guaranteed), a bonus of 75k if they win the GF, with option to sponsor ACL Thats good business indeed. If true 🤫 No I believe it, its about what most NPL clubs get for the whole season front of shirt so why not? Someone said good business, doubly so for AIA, with Spurs coming a calling.
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numklpkgulftumch
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+x+x+x+x+xHope none of the disgruntled staff are at AAMI on Sunday ... I wouldnt want this splashed in my face if I was them. Especially after lining up for 2 days at Centrelink. already Gonza good bit of business How much ? and who got it ? Extra 50,000 for every week in the finals, so 100k after this weekend (50k each leg of next game - so 150k guaranteed), a bonus of 75k if they win the GF, with option to sponsor ACL That seems very generous Anyhow, who got the cash ? 777 got the rights for 4 years when they bailed MV out. Have 777 used it to purchase more of the club @ 10% compounding or did they just take it back overseas ?
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tsf
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+x+x+x+x+x+xHope none of the disgruntled staff are at AAMI on Sunday ... I wouldnt want this splashed in my face if I was them. Especially after lining up for 2 days at Centrelink. already Gonza good bit of business How much ? and who got it ? Extra 50,000 for every week in the finals, so 100k after this weekend (50k each leg of next game - so 150k guaranteed), a bonus of 75k if they win the GF, with option to sponsor ACL That seems very generous look at TV ad spend etc, AIA have a tour coming up so it's good for both, when compared to other spend they'd need to do in media it makes sense for AIA - to MV
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numklpkgulftumch
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 The airline portfolio of prospective Everton owners 777 Partners has shrunk twice in a week as Premier League approval continues to evade the Miami investment firm. Days after Australian budget airline Bonza entered voluntary administration, sister Canadian company Flair said other backers will now take up shares owned by 777. The situation at Bonza is likely to be scrutinised by the Premier League, which could require guarantees that no other companies in the 777 stable are in trouble.
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numklpkgulftumch
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Meanwhile in Belgium
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. . Belgian daily Le Soir revealed on Monday that Standard’s players hadn’t received their April salaries yet and had been told by their employer that they’d have to wait until 9 May to get their 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 –
https://josimarfootball.com/2024/05/06/the-repo-men/
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numklpkgulftumch
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Meanwhile in New York Bonza’s owner 777 Partners accused of fraud, double-pledging assets in US lawsuit
Lenders to 777 Partners accused it of fraud, claiming that the Miami-based investment firm borrowed against $US350 million ($529 million) of assets that it didn’t own, didn’t exist or were already promised to someone else.
Josh Wander, co-founder of 777 Partners, doubled-pledged assets backing loans to the firm and admitted to fundamental breaches of agreements, according to the complaint filed late Friday in New York federal court.
https://www.smh.com.au/business/companies/bonza-s-owner-777-partners-accused-of-fraud-double-pledging-assets-in-us-lawsuit-20240506-p5fp3f.html
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tsf
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MV is a very well-run club. I have been to a few of the Victory in business lunches, these are not some hodge podge events. There are lots of big names in business, politics and sport in the room at crown. I am often surprised by who is there
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Monoethnic Social Club
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+xMV is a very well-run club. I have been to a few of the Victory in business lunches, these are not some hodge podge events. There are lots of big names in business, politics and sport in the room at crown. I am often surprised by who is there One of my main distributors invited us to one of these 6-7 years ago now, indeed its an impressive turnout and the money does flow.... I spent the whole 2 hours chatting to Trimmers while sneakily binning the Victory merch forced on us :)
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tsf
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+x+xMV is a very well-run club. I have been to a few of the Victory in business lunches, these are not some hodge podge events. There are lots of big names in business, politics and sport in the room at crown. I am often surprised by who is there One of my main distributors invited us to one of these 6-7 years ago now, indeed its an impressive turnout and the money does flow.... I spent the whole 2 hours chatting to Trimmers while sneakily binning the Victory merch forced on us :) ha!
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numklpkgulftumch
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+xMV is a very well-run club. I have been to a few of the Victory in business lunches, these are not some hodge podge events. There are lots of big names in business, politics and sport in the room at crown. I am often surprised by who is there Melbourne Victory lost $6.7 million and was in deep financial trouble just months before it struck a deal that could hand control of the club to a US private equity investor within five years. So bad were the financial problems at the A-League’s best supported club that Victory’s auditors warned there was “material uncertainty” it could continue as a “going concern”, the club’s 2021-22 accounts show.
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tsf
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+x+xMV is a very well-run club. I have been to a few of the Victory in business lunches, these are not some hodge podge events. There are lots of big names in business, politics and sport in the room at crown. I am often surprised by who is there Melbourne Victory lost $6.7 million and was in deep financial trouble just months before it struck a deal that could hand control of the club to a US private equity investor within five years. So bad were the financial problems at the A-League’s best supported club that Victory’s auditors warned there was “material uncertainty” it could continue as a “going concern”, the club’s 2021-22 accounts show. They made money for over a decade...they have a recent bad period - so what? The best-run football club Australia has ever seen. Biggest crowds, biggest revenue - they are lucky to have been given an opportunity in the a-league, granted, but it's the truth. There are some other great clubs, but the scale is different. instead of just posting random searches off the internet how about actually contributing something of essence? I feel like a lot of the time you're not even fully aware/or understand what you are posting just looking for something that sounds negative
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numklpkgulftumch
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+x+x+xMV is a very well-run club. I have been to a few of the Victory in business lunches, these are not some hodge podge events. There are lots of big names in business, politics and sport in the room at crown. I am often surprised by who is there Melbourne Victory lost $6.7 million and was in deep financial trouble just months before it struck a deal that could hand control of the club to a US private equity investor within five years. So bad were the financial problems at the A-League’s best supported club that Victory’s auditors warned there was “material uncertainty” it could continue as a “going concern”, the club’s 2021-22 accounts show. They made money for over a decade...they have a recent bad period - so what? The best-run football club Australia has ever seen. Biggest crowds, biggest revenue - they are lucky to have been given an opportunity in the a-league, granted, but it's the truth. There are some other great clubs, but the scale is different. instead of just posting random searches off the internet how about actually contributing something of essence? I feel like a lot of the time you're not even fully aware/or understand what you are posting just looking for something that sounds negative Couldn't give a toss about the closed shop or how it's set-up benefitted any franchise 10 or 20 years ago My 'random' posts are documenting how fucked the 'best run football club Australia has ever seen' is right now Totally beholden to a Vampire Ponzi scheme, with no visible way out. Here's one of your Business Lunch regulars Richard Wilson, a founding director and shareholder of Melbourne Victory, said the deal “wipes the value of the shares” because of the option for 777 Partners to walk away. “It effectively wipes the value of the shares [for up to five years],” said Wilson, who resigned from the board in 2021 over a disagreement about the direction of the club. “It makes it almost impossible for a shareholder to sell their shares. You could sell to somebody who’s going to walk straight into a minority position where the shares are worthless.” He said he saw the deal was “borrowing time” instead of affirming the club’s future. “So the risk to the fans is that no matter [what the club] says about ‘this brings certainty, it brings security’ – no it doesn’t ... [the investor] can walk away from it any time they like,” Wilson said. Doesn't look like Victory can get any more cash now unless 777 put it in So, does the AIA money stay in, or go to Bermuda ?
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tsf
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+x+x+x+xMV is a very well-run club. I have been to a few of the Victory in business lunches, these are not some hodge podge events. There are lots of big names in business, politics and sport in the room at crown. I am often surprised by who is there Melbourne Victory lost $6.7 million and was in deep financial trouble just months before it struck a deal that could hand control of the club to a US private equity investor within five years. So bad were the financial problems at the A-League’s best supported club that Victory’s auditors warned there was “material uncertainty” it could continue as a “going concern”, the club’s 2021-22 accounts show. They made money for over a decade...they have a recent bad period - so what? The best-run football club Australia has ever seen. Biggest crowds, biggest revenue - they are lucky to have been given an opportunity in the a-league, granted, but it's the truth. There are some other great clubs, but the scale is different. instead of just posting random searches off the internet how about actually contributing something of essence? I feel like a lot of the time you're not even fully aware/or understand what you are posting just looking for something that sounds negative Couldn't give a toss about the closed shop or how it's set-up benefitted any franchise 10 or 20 years ago My 'random' posts are documenting how fucked the 'best run football club Australia has ever seen' is right now Totally beholden to a Vampire Ponzi scheme, with no visible way out. Here's one of your Business Lunch regulars Richard Wilson, a founding director and shareholder of Melbourne Victory, said the deal “wipes the value of the shares” because of the option for 777 Partners to walk away. “It effectively wipes the value of the shares [for up to five years],” said Wilson, who resigned from the board in 2021 over a disagreement about the direction of the club. “It makes it almost impossible for a shareholder to sell their shares. You could sell to somebody who’s going to walk straight into a minority position where the shares are worthless.” He said he saw the deal was “borrowing time” instead of affirming the club’s future. “So the risk to the fans is that no matter [what the club] says about ‘this brings certainty, it brings security’ – no it doesn’t ... [the investor] can walk away from it any time they like,” Wilson said. Doesn't look like Victory can get any more cash now unless 777 put it in So, does the AIA money stay in, or go to Bermuda ? You get your information from random fairfax articles or searching the entire internet for info about 777 - no actual insights Do you honestly think any of this will affect MV? Do you know how many people with cash and influence they have as members and are willing to contribute? Even after all the pitch invasion not a single sponsor left in response, not KFC, not even Joe's milk bar. In fact, they got more brands on board. Well after you've given up googling 777 or they go bust (which would help MV), MV will still be there, and strong.
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numklpkgulftumch
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+x+x+x+x+xMV is a very well-run club. I have been to a few of the Victory in business lunches, these are not some hodge podge events. There are lots of big names in business, politics and sport in the room at crown. I am often surprised by who is there Melbourne Victory lost $6.7 million and was in deep financial trouble just months before it struck a deal that could hand control of the club to a US private equity investor within five years. So bad were the financial problems at the A-League’s best supported club that Victory’s auditors warned there was “material uncertainty” it could continue as a “going concern”, the club’s 2021-22 accounts show. They made money for over a decade...they have a recent bad period - so what? The best-run football club Australia has ever seen. Biggest crowds, biggest revenue - they are lucky to have been given an opportunity in the a-league, granted, but it's the truth. There are some other great clubs, but the scale is different. instead of just posting random searches off the internet how about actually contributing something of essence? I feel like a lot of the time you're not even fully aware/or understand what you are posting just looking for something that sounds negative Couldn't give a toss about the closed shop or how it's set-up benefitted any franchise 10 or 20 years ago My 'random' posts are documenting how fucked the 'best run football club Australia has ever seen' is right now Totally beholden to a Vampire Ponzi scheme, with no visible way out. Here's one of your Business Lunch regulars Richard Wilson, a founding director and shareholder of Melbourne Victory, said the deal “wipes the value of the shares” because of the option for 777 Partners to walk away. “It effectively wipes the value of the shares [for up to five years],” said Wilson, who resigned from the board in 2021 over a disagreement about the direction of the club. “It makes it almost impossible for a shareholder to sell their shares. You could sell to somebody who’s going to walk straight into a minority position where the shares are worthless.” He said he saw the deal was “borrowing time” instead of affirming the club’s future. “So the risk to the fans is that no matter [what the club] says about ‘this brings certainty, it brings security’ – no it doesn’t ... [the investor] can walk away from it any time they like,” Wilson said. Doesn't look like Victory can get any more cash now unless 777 put it in So, does the AIA money stay in, or go to Bermuda ? You get your information from random fairfax articles or searching the entire internet for info about 777 - no actual insights Do you honestly think any of this will affect MV? Do you know how many people with cash and influence they have as members and are willing to contribute? Even after all the pitch invasion not a single sponsor left in response, not KFC, not even Joe's milk bar. In fact, they got more brands on board. Well after you've given up googling 777 or they go bust (which would help MV), MV will still be there, and strong. OK, let's assume you're right, there's a simple question Where's the cash for next Season coming from ? I'm guessing you'll need about $4 or 5 million
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tsf
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+x+x+x+x+x+xMV is a very well-run club. I have been to a few of the Victory in business lunches, these are not some hodge podge events. There are lots of big names in business, politics and sport in the room at crown. I am often surprised by who is there Melbourne Victory lost $6.7 million and was in deep financial trouble just months before it struck a deal that could hand control of the club to a US private equity investor within five years. So bad were the financial problems at the A-League’s best supported club that Victory’s auditors warned there was “material uncertainty” it could continue as a “going concern”, the club’s 2021-22 accounts show. They made money for over a decade...they have a recent bad period - so what? The best-run football club Australia has ever seen. Biggest crowds, biggest revenue - they are lucky to have been given an opportunity in the a-league, granted, but it's the truth. There are some other great clubs, but the scale is different. instead of just posting random searches off the internet how about actually contributing something of essence? I feel like a lot of the time you're not even fully aware/or understand what you are posting just looking for something that sounds negative Couldn't give a toss about the closed shop or how it's set-up benefitted any franchise 10 or 20 years ago My 'random' posts are documenting how fucked the 'best run football club Australia has ever seen' is right now Totally beholden to a Vampire Ponzi scheme, with no visible way out. Here's one of your Business Lunch regulars Richard Wilson, a founding director and shareholder of Melbourne Victory, said the deal “wipes the value of the shares” because of the option for 777 Partners to walk away. “It effectively wipes the value of the shares [for up to five years],” said Wilson, who resigned from the board in 2021 over a disagreement about the direction of the club. “It makes it almost impossible for a shareholder to sell their shares. You could sell to somebody who’s going to walk straight into a minority position where the shares are worthless.” He said he saw the deal was “borrowing time” instead of affirming the club’s future. “So the risk to the fans is that no matter [what the club] says about ‘this brings certainty, it brings security’ – no it doesn’t ... [the investor] can walk away from it any time they like,” Wilson said. Doesn't look like Victory can get any more cash now unless 777 put it in So, does the AIA money stay in, or go to Bermuda ? You get your information from random fairfax articles or searching the entire internet for info about 777 - no actual insights Do you honestly think any of this will affect MV? Do you know how many people with cash and influence they have as members and are willing to contribute? Even after all the pitch invasion not a single sponsor left in response, not KFC, not even Joe's milk bar. In fact, they got more brands on board. Well after you've given up googling 777 or they go bust (which would help MV), MV will still be there, and strong. OK, let's assume you're right, there's a simple question Where's the cash for next Season coming from ? I'm guessing you'll need about $4 or 5 million they will have no problem paying for what they need. They have that many people (not just brands) willing to give them cash. Stand at the bar at the pre-game function and every old Italian/greek etc multi national developer/construction type is standing around having a chinwag about the team They win the GF, they will most likely beat this year's membership numbers too, increase match day revenue next year.
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Monoethnic Social Club
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+x+x+x+x+x+x+xMV is a very well-run club. I have been to a few of the Victory in business lunches, these are not some hodge podge events. There are lots of big names in business, politics and sport in the room at crown. I am often surprised by who is there Melbourne Victory lost $6.7 million and was in deep financial trouble just months before it struck a deal that could hand control of the club to a US private equity investor within five years. So bad were the financial problems at the A-League’s best supported club that Victory’s auditors warned there was “material uncertainty” it could continue as a “going concern”, the club’s 2021-22 accounts show. They made money for over a decade...they have a recent bad period - so what? The best-run football club Australia has ever seen. Biggest crowds, biggest revenue - they are lucky to have been given an opportunity in the a-league, granted, but it's the truth. There are some other great clubs, but the scale is different. instead of just posting random searches off the internet how about actually contributing something of essence? I feel like a lot of the time you're not even fully aware/or understand what you are posting just looking for something that sounds negative Couldn't give a toss about the closed shop or how it's set-up benefitted any franchise 10 or 20 years ago My 'random' posts are documenting how fucked the 'best run football club Australia has ever seen' is right now Totally beholden to a Vampire Ponzi scheme, with no visible way out. Here's one of your Business Lunch regulars Richard Wilson, a founding director and shareholder of Melbourne Victory, said the deal “wipes the value of the shares” because of the option for 777 Partners to walk away. “It effectively wipes the value of the shares [for up to five years],” said Wilson, who resigned from the board in 2021 over a disagreement about the direction of the club. “It makes it almost impossible for a shareholder to sell their shares. You could sell to somebody who’s going to walk straight into a minority position where the shares are worthless.” He said he saw the deal was “borrowing time” instead of affirming the club’s future. “So the risk to the fans is that no matter [what the club] says about ‘this brings certainty, it brings security’ – no it doesn’t ... [the investor] can walk away from it any time they like,” Wilson said. Doesn't look like Victory can get any more cash now unless 777 put it in So, does the AIA money stay in, or go to Bermuda ? You get your information from random fairfax articles or searching the entire internet for info about 777 - no actual insights Do you honestly think any of this will affect MV? Do you know how many people with cash and influence they have as members and are willing to contribute? Even after all the pitch invasion not a single sponsor left in response, not KFC, not even Joe's milk bar. In fact, they got more brands on board. Well after you've given up googling 777 or they go bust (which would help MV), MV will still be there, and strong. OK, let's assume you're right, there's a simple question Where's the cash for next Season coming from ? I'm guessing you'll need about $4 or 5 million they will have no problem paying for what they need. They have that many people (not just brands) willing to give them cash. Stand at the bar at the pre-game function and every old Italian/greek etc multi national developer/construction type is standing around having a chinwag about the team They win the GF, they will most likely beat this year's membership numbers too, increase match day revenue next year. Dont count on alot of those old Greeks and Italians mate... some of them have started showing their mugs around the NPL clubs again :)
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tsf
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+x+x+x+x+x+x+x+xMV is a very well-run club. I have been to a few of the Victory in business lunches, these are not some hodge podge events. There are lots of big names in business, politics and sport in the room at crown. I am often surprised by who is there Melbourne Victory lost $6.7 million and was in deep financial trouble just months before it struck a deal that could hand control of the club to a US private equity investor within five years. So bad were the financial problems at the A-League’s best supported club that Victory’s auditors warned there was “material uncertainty” it could continue as a “going concern”, the club’s 2021-22 accounts show. They made money for over a decade...they have a recent bad period - so what? The best-run football club Australia has ever seen. Biggest crowds, biggest revenue - they are lucky to have been given an opportunity in the a-league, granted, but it's the truth. There are some other great clubs, but the scale is different. instead of just posting random searches off the internet how about actually contributing something of essence? I feel like a lot of the time you're not even fully aware/or understand what you are posting just looking for something that sounds negative Couldn't give a toss about the closed shop or how it's set-up benefitted any franchise 10 or 20 years ago My 'random' posts are documenting how fucked the 'best run football club Australia has ever seen' is right now Totally beholden to a Vampire Ponzi scheme, with no visible way out. Here's one of your Business Lunch regulars Richard Wilson, a founding director and shareholder of Melbourne Victory, said the deal “wipes the value of the shares” because of the option for 777 Partners to walk away. “It effectively wipes the value of the shares [for up to five years],” said Wilson, who resigned from the board in 2021 over a disagreement about the direction of the club. “It makes it almost impossible for a shareholder to sell their shares. You could sell to somebody who’s going to walk straight into a minority position where the shares are worthless.” He said he saw the deal was “borrowing time” instead of affirming the club’s future. “So the risk to the fans is that no matter [what the club] says about ‘this brings certainty, it brings security’ – no it doesn’t ... [the investor] can walk away from it any time they like,” Wilson said. Doesn't look like Victory can get any more cash now unless 777 put it in So, does the AIA money stay in, or go to Bermuda ? You get your information from random fairfax articles or searching the entire internet for info about 777 - no actual insights Do you honestly think any of this will affect MV? Do you know how many people with cash and influence they have as members and are willing to contribute? Even after all the pitch invasion not a single sponsor left in response, not KFC, not even Joe's milk bar. In fact, they got more brands on board. Well after you've given up googling 777 or they go bust (which would help MV), MV will still be there, and strong. OK, let's assume you're right, there's a simple question Where's the cash for next Season coming from ? I'm guessing you'll need about $4 or 5 million they will have no problem paying for what they need. They have that many people (not just brands) willing to give them cash. Stand at the bar at the pre-game function and every old Italian/greek etc multi national developer/construction type is standing around having a chinwag about the team They win the GF, they will most likely beat this year's membership numbers too, increase match day revenue next year. Dont count on alot of those old Greeks and Italians mate... some of them have started showing their mugs around the NPL clubs again :) There's cash for everyone! 
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Monoethnic Social Club
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+x+x+x+x+x+x+x+x+xMV is a very well-run club. I have been to a few of the Victory in business lunches, these are not some hodge podge events. There are lots of big names in business, politics and sport in the room at crown. I am often surprised by who is there Melbourne Victory lost $6.7 million and was in deep financial trouble just months before it struck a deal that could hand control of the club to a US private equity investor within five years. So bad were the financial problems at the A-League’s best supported club that Victory’s auditors warned there was “material uncertainty” it could continue as a “going concern”, the club’s 2021-22 accounts show. They made money for over a decade...they have a recent bad period - so what? The best-run football club Australia has ever seen. Biggest crowds, biggest revenue - they are lucky to have been given an opportunity in the a-league, granted, but it's the truth. There are some other great clubs, but the scale is different. instead of just posting random searches off the internet how about actually contributing something of essence? I feel like a lot of the time you're not even fully aware/or understand what you are posting just looking for something that sounds negative Couldn't give a toss about the closed shop or how it's set-up benefitted any franchise 10 or 20 years ago My 'random' posts are documenting how fucked the 'best run football club Australia has ever seen' is right now Totally beholden to a Vampire Ponzi scheme, with no visible way out. Here's one of your Business Lunch regulars Richard Wilson, a founding director and shareholder of Melbourne Victory, said the deal “wipes the value of the shares” because of the option for 777 Partners to walk away. “It effectively wipes the value of the shares [for up to five years],” said Wilson, who resigned from the board in 2021 over a disagreement about the direction of the club. “It makes it almost impossible for a shareholder to sell their shares. You could sell to somebody who’s going to walk straight into a minority position where the shares are worthless.” He said he saw the deal was “borrowing time” instead of affirming the club’s future. “So the risk to the fans is that no matter [what the club] says about ‘this brings certainty, it brings security’ – no it doesn’t ... [the investor] can walk away from it any time they like,” Wilson said. Doesn't look like Victory can get any more cash now unless 777 put it in So, does the AIA money stay in, or go to Bermuda ? You get your information from random fairfax articles or searching the entire internet for info about 777 - no actual insights Do you honestly think any of this will affect MV? Do you know how many people with cash and influence they have as members and are willing to contribute? Even after all the pitch invasion not a single sponsor left in response, not KFC, not even Joe's milk bar. In fact, they got more brands on board. Well after you've given up googling 777 or they go bust (which would help MV), MV will still be there, and strong. OK, let's assume you're right, there's a simple question Where's the cash for next Season coming from ? I'm guessing you'll need about $4 or 5 million they will have no problem paying for what they need. They have that many people (not just brands) willing to give them cash. Stand at the bar at the pre-game function and every old Italian/greek etc multi national developer/construction type is standing around having a chinwag about the team They win the GF, they will most likely beat this year's membership numbers too, increase match day revenue next year. Dont count on alot of those old Greeks and Italians mate... some of them have started showing their mugs around the NPL clubs again :) There's cash for everyone! I dont think this still passes as legal tender .... lol 
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numklpkgulftumch
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+x+x+x+x+x+x+xMV is a very well-run club. I have been to a few of the Victory in business lunches, these are not some hodge podge events. There are lots of big names in business, politics and sport in the room at crown. I am often surprised by who is there Melbourne Victory lost $6.7 million and was in deep financial trouble just months before it struck a deal that could hand control of the club to a US private equity investor within five years. So bad were the financial problems at the A-League’s best supported club that Victory’s auditors warned there was “material uncertainty” it could continue as a “going concern”, the club’s 2021-22 accounts show. They made money for over a decade...they have a recent bad period - so what? The best-run football club Australia has ever seen. Biggest crowds, biggest revenue - they are lucky to have been given an opportunity in the a-league, granted, but it's the truth. There are some other great clubs, but the scale is different. instead of just posting random searches off the internet how about actually contributing something of essence? I feel like a lot of the time you're not even fully aware/or understand what you are posting just looking for something that sounds negative Couldn't give a toss about the closed shop or how it's set-up benefitted any franchise 10 or 20 years ago My 'random' posts are documenting how fucked the 'best run football club Australia has ever seen' is right now Totally beholden to a Vampire Ponzi scheme, with no visible way out. Here's one of your Business Lunch regulars Richard Wilson, a founding director and shareholder of Melbourne Victory, said the deal “wipes the value of the shares” because of the option for 777 Partners to walk away. “It effectively wipes the value of the shares [for up to five years],” said Wilson, who resigned from the board in 2021 over a disagreement about the direction of the club. “It makes it almost impossible for a shareholder to sell their shares. You could sell to somebody who’s going to walk straight into a minority position where the shares are worthless.” He said he saw the deal was “borrowing time” instead of affirming the club’s future. “So the risk to the fans is that no matter [what the club] says about ‘this brings certainty, it brings security’ – no it doesn’t ... [the investor] can walk away from it any time they like,” Wilson said. Doesn't look like Victory can get any more cash now unless 777 put it in So, does the AIA money stay in, or go to Bermuda ? You get your information from random fairfax articles or searching the entire internet for info about 777 - no actual insights Do you honestly think any of this will affect MV? Do you know how many people with cash and influence they have as members and are willing to contribute? Even after all the pitch invasion not a single sponsor left in response, not KFC, not even Joe's milk bar. In fact, they got more brands on board. Well after you've given up googling 777 or they go bust (which would help MV), MV will still be there, and strong. OK, let's assume you're right, there's a simple question Where's the cash for next Season coming from ? I'm guessing you'll need about $4 or 5 million they will have no problem paying for what they need. They have that many people (not just brands) willing to give them cash. Stand at the bar at the pre-game function and every old Italian/greek etc multi national developer/construction type is standing around having a chinwag about the team looks like you're going to find out Josh Wander and Steve Pasko have been removed from the board of the football division of 777 Partners after bankruptcy specialists were called in.
By Paul Brown and Philippe Auclair
If all the talk this week has been about Everton potentially having to go into administration as a result of doubts over their takeover by 777 Partners, it is actually the Miami firm itself which is fighting for its future having called in the receivers, as confirmed in an internal email signed by owners Josh Wander and Steven Pasko, which Josimar has seen, and which was shared with staff on Thursday. Ian Ratner and Ron Glass of B. Riley Advisory Services have been brought in "to take on governance roles within our organisation". What these roles will be with 777 Partners may be inferred by their past records. Mr Ratner lists "bankruptcy advisory services" and "bankruptcy litigation" among his areas of expertise, while Mr Glass, who has also worked as a liquidating agent and a receiver, quotes "bankruptcy proceedings" and "crisis management" in his. Another B. Riley executive, Mark Shapiro, has been called in to oversee the company’s operations as ‘interim Chief Operating Officer’. Mr Shapiro too has a wealth of experience in “restructuring” and bankruptcy proceedings
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numklpkgulftumch
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Not many fans want their club to park the bus
777 Partners troubles mount as fans block Standard Liège from travelling
May 13
Supporters’ protests forced 777 Partners-owned Standard Liège to postpone their league match with Westerlo after the team coach was blocked from reaching the stadium.
The fans of the Walloon club have long been disgruntled with club management under its US ownership.
They stepped up their protests this weekend by preventing the team bus from leaving the training centre.
“Attempts at discussions with these supporters did not find a solution to lift the blockage,” a club statement said.
“Standard Liège deeply regrets this situation and apologises to KVC Westerlo as well as to the supporters of both camps present at the stadium this evening.”
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numklpkgulftumch
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Wander & Pasko kicked off the Board at Standard Liege
and the CEO has resigned
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numklpkgulftumch
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Vasco de Gama management claim 777 are insolvent
Then Brazillian Judge kicks all the 777 Board members out of the Club
Never a dull moment
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numklpkgulftumch
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 Rumours of both Vasco De Gama & Standard Liege
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libelous
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Does anyone know how much of MV the 777 Partners own?
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numklpkgulftumch
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+xDoes anyone know how much of MV the 777 Partners own? 19% with the option for them to buy another 51% Anything they do put in they can get back at 10% Compounding although they don't seem haven't put anything else in since the first purchase.
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numklpkgulftumch
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Italy UpdateGood NewsGenoa have managed to get their huge unpaid tax bill reduced to a less huge unpaid tax bill The concession was made possible by the Tax Agency verifying that Genoa CFC presented
“the required characteristics [to be considered] to be in a state of crisis”.
They got the concession through claiming 777 had only $3 Billion of assets overall Bad NewsThey've been telling lenders 777 Assets are worth $10 Billion So either - They've been double dipping on the Mortgages or
- They've told the Tax Authorities porkies, which is a criminal offence, even in Italy
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LFC.
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numklpkgulftumch
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Meanwhile in London The British Basketball League’s (BBL) operating company has seen its licence terminated by the British Basketball Federation (BBF) following concerns over its financial position.
Basketball League Ltd has been overseeing the men’s professional league under the terms of a ten-year licence granted by the sport’s governing body in 2017.
However, as uncertainty continues over its financial position – with American-based investment firm 777 Partners, whose proposed takeover of English top-flight soccer club Everton fell through, holding a 45 per cent stake in the league along with ownership of the London Lions franchise – the BBF felt decisive action was needed ahead of planning for the 2024/25 season.
Information provided to the BBF concerning the finances of Basketball League Ltd, including the fact that BLL has entered into creditor arrangements with two of its largest creditors, indicates that BLL is no longer able to carry out its functions as operator of the British Basketball League.‘The BBF board has therefore unanimously agreed to terminate the licence with immediate effect.
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numklpkgulftumch
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Meanwhile in Australia
Hall Chadwick, the airline's administrators, last night released a damning 129-page creditors report detailing major flaws in the debt-riddled business. The report says Bonza's four directors may have breached several sections of the Corporations Act, including by trading while the airline was insolvent. The company had "significant" solvency and operational concerns as far back as November, the report says."[Bonza] may have been insolvent from 1 March 2024 and remained so up to and including the date of the administration." Hall Chadwick says the Australian directors, CEO Tim Jordan and CFO Lidia Valenzuela, co-operated with the administrators while the two American directors from 777 Partners did not.
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numklpkgulftumch
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Meanwhile in Brazil
Vasco da Gama’s president Pedrinho
‘I have been informed by A-CAP that 777 no longer exercises control over any of its football clubs… We saved Vasco from possible bankruptcy’.
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numklpkgulftumch
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Meanwhile in USA Don Dransfield, the former Chief Strategy Officer of City Football Group, who was appointed CEO of 777’s Football Operations to much fanfare in May 2022 quit his role at the end of June.
Dan Faermark, the former Chief of Staff and Vice-President of their Football Operations, whose departure in April was only recently confirmed won't be replaced
Josimar can reveal that key Wander loyalist and close associate Aaron Levy has also left the company, whilst Vice President Lenz Balan, who helped run their UK basketball operations, has resigned from the board.
All traces of any association with 777 Partners have been removed from the Linkedin profiles of both men.
https://josimarfootball.com/2024/07/10/end-of-season-sales/
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numklpkgulftumch
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The Good Bad news The stark reality for Standard de Liège, Genoa, Vasco da Gama, Red Star, Sevilla, Hertha Berlin and Melbourne Victory is that no-one at 777 Partners currently has any say in what happens to any of them.
Instead, A-CAP, a holding company run by Kenneth King which owns five US insurers and has funded 777’s operations for years, is now in charge, and has instructed the New York investment bank Moelis to explore the sale of the company’s whole multi-club portfolio. The Bad Bad News777 double dipping on the Mortgages means they can't be sold unless Leadenhall (Law Suit Creditor) OK it
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Monoethnic Social Club
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+xThe Good Bad news The stark reality for Standard de Liège, Genoa, Vasco da Gama, Red Star, Sevilla, Hertha Berlin and Melbourne Victory is that no-one at 777 Partners currently has any say in what happens to any of them. Instead, A-CAP, a holding company run by Kenneth King which owns five US insurers and has funded 777’s operations for years, is now in charge, and has instructed the New York investment bank Moelis to explore the sale of the company’s whole multi-club portfolio. The Bad Bad News777 double dipping on the Mortgages means they can't be sold unless Leadenhall (Law Suit Creditor) OK it Are they still able to demand the 50 mill (plus compounding interest) if they pull out or cannot sell their 19% share? That would decimate the club surely?
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numklpkgulftumch
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Group: Forum Members
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+x+xThe Good Bad news The stark reality for Standard de Liège, Genoa, Vasco da Gama, Red Star, Sevilla, Hertha Berlin and Melbourne Victory is that no-one at 777 Partners currently has any say in what happens to any of them. Instead, A-CAP, a holding company run by Kenneth King which owns five US insurers and has funded 777’s operations for years, is now in charge, and has instructed the New York investment bank Moelis to explore the sale of the company’s whole multi-club portfolio. The Bad Bad News777 double dipping on the Mortgages means they can't be sold unless Leadenhall (Law Suit Creditor) OK it Are they still able to demand the 50 mill (plus compounding interest) if they pull out or cannot sell their 19% share? That would decimate the club surely? They put in $8.7 million for the 19%, but they can't sell the 19% They haven't put in any more cash, but have a 5 year option (3.5 years to go) to do so and buy another 51%. So Victory have no cash, won't receive any from 777, and can't get any from anyone else whilst 777 effectively own the club that can't be sold
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Monoethnic Social Club
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+x+x+xThe Good Bad news The stark reality for Standard de Liège, Genoa, Vasco da Gama, Red Star, Sevilla, Hertha Berlin and Melbourne Victory is that no-one at 777 Partners currently has any say in what happens to any of them. Instead, A-CAP, a holding company run by Kenneth King which owns five US insurers and has funded 777’s operations for years, is now in charge, and has instructed the New York investment bank Moelis to explore the sale of the company’s whole multi-club portfolio. The Bad Bad News777 double dipping on the Mortgages means they can't be sold unless Leadenhall (Law Suit Creditor) OK it Are they still able to demand the 50 mill (plus compounding interest) if they pull out or cannot sell their 19% share? That would decimate the club surely? They put in $8.7 million for the 19%, but they can't sell the 19% They haven't put in any more cash, but have a 5 year option (3.5 years to go) to do so and buy another 51%. So Victory have no cash, won't receive any from 777, and can't get any from anyone else whilst 777 effectively own the club that can't be sold wow ok.... not as ominous but still pretty shite.
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numklpkgulftumch
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Group: Forum Members
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+x+x+x+xThe Good Bad news The stark reality for Standard de Liège, Genoa, Vasco da Gama, Red Star, Sevilla, Hertha Berlin and Melbourne Victory is that no-one at 777 Partners currently has any say in what happens to any of them. Instead, A-CAP, a holding company run by Kenneth King which owns five US insurers and has funded 777’s operations for years, is now in charge, and has instructed the New York investment bank Moelis to explore the sale of the company’s whole multi-club portfolio. The Bad Bad News777 double dipping on the Mortgages means they can't be sold unless Leadenhall (Law Suit Creditor) OK it Are they still able to demand the 50 mill (plus compounding interest) if they pull out or cannot sell their 19% share? That would decimate the club surely? They put in $8.7 million for the 19%, but they can't sell the 19% They haven't put in any more cash, but have a 5 year option (3.5 years to go) to do so and buy another 51%. So Victory have no cash, won't receive any from 777, and can't get any from anyone else whilst 777 effectively own the club that can't be sold wow ok.... not as ominous but still pretty shite. Problem is Victory was just about to fold when 777 first input bailed them out. (hence why the APL pointed them at Melbourne instead of Newcastle) Victory lost $6m in the year the central distribution was $2.5m Gonna be interesting to see how they manage to cut costs by $8m (or increase income whilst fiedlding a Youth Team)
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Monoethnic Social Club
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+x+x+x+x+xThe Good Bad news The stark reality for Standard de Liège, Genoa, Vasco da Gama, Red Star, Sevilla, Hertha Berlin and Melbourne Victory is that no-one at 777 Partners currently has any say in what happens to any of them. Instead, A-CAP, a holding company run by Kenneth King which owns five US insurers and has funded 777’s operations for years, is now in charge, and has instructed the New York investment bank Moelis to explore the sale of the company’s whole multi-club portfolio. The Bad Bad News777 double dipping on the Mortgages means they can't be sold unless Leadenhall (Law Suit Creditor) OK it Are they still able to demand the 50 mill (plus compounding interest) if they pull out or cannot sell their 19% share? That would decimate the club surely? They put in $8.7 million for the 19%, but they can't sell the 19% They haven't put in any more cash, but have a 5 year option (3.5 years to go) to do so and buy another 51%. So Victory have no cash, won't receive any from 777, and can't get any from anyone else whilst 777 effectively own the club that can't be sold wow ok.... not as ominous but still pretty shite. Problem is Victory was just about to fold when 777 first input bailed them out. (hence why the APL pointed them at Melbourne instead of Newcastle) Victory lost $6m in the year the central distribution was $2.5m Gonna be interesting to see how they manage to cut costs by $8m (or increase income whilst fiedlding a Youth Team) Havent you heard? The Aleague is a "selling league" now....
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TheSelectFew
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+x+x+x+x+x+xThe Good Bad news The stark reality for Standard de Liège, Genoa, Vasco da Gama, Red Star, Sevilla, Hertha Berlin and Melbourne Victory is that no-one at 777 Partners currently has any say in what happens to any of them. Instead, A-CAP, a holding company run by Kenneth King which owns five US insurers and has funded 777’s operations for years, is now in charge, and has instructed the New York investment bank Moelis to explore the sale of the company’s whole multi-club portfolio. The Bad Bad News777 double dipping on the Mortgages means they can't be sold unless Leadenhall (Law Suit Creditor) OK it Are they still able to demand the 50 mill (plus compounding interest) if they pull out or cannot sell their 19% share? That would decimate the club surely? They put in $8.7 million for the 19%, but they can't sell the 19% They haven't put in any more cash, but have a 5 year option (3.5 years to go) to do so and buy another 51%. So Victory have no cash, won't receive any from 777, and can't get any from anyone else whilst 777 effectively own the club that can't be sold wow ok.... not as ominous but still pretty shite. Problem is Victory was just about to fold when 777 first input bailed them out. (hence why the APL pointed them at Melbourne instead of Newcastle) Victory lost $6m in the year the central distribution was $2.5m Gonna be interesting to see how they manage to cut costs by $8m (or increase income whilst fiedlding a Youth Team) Havent you heard? The Aleague is a "selling league" now.... May as well be.
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SUTHERLANDBEAR
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+x+x+x+x+x+xThe Good Bad news The stark reality for Standard de Liège, Genoa, Vasco da Gama, Red Star, Sevilla, Hertha Berlin and Melbourne Victory is that no-one at 777 Partners currently has any say in what happens to any of them. Instead, A-CAP, a holding company run by Kenneth King which owns five US insurers and has funded 777’s operations for years, is now in charge, and has instructed the New York investment bank Moelis to explore the sale of the company’s whole multi-club portfolio. The Bad Bad News777 double dipping on the Mortgages means they can't be sold unless Leadenhall (Law Suit Creditor) OK it Are they still able to demand the 50 mill (plus compounding interest) if they pull out or cannot sell their 19% share? That would decimate the club surely? They put in $8.7 million for the 19%, but they can't sell the 19% They haven't put in any more cash, but have a 5 year option (3.5 years to go) to do so and buy another 51%. So Victory have no cash, won't receive any from 777, and can't get any from anyone else whilst 777 effectively own the club that can't be sold wow ok.... not as ominous but still pretty shite. Problem is Victory was just about to fold when 777 first input bailed them out. (hence why the APL pointed them at Melbourne instead of Newcastle) Victory lost $6m in the year the central distribution was $2.5m Gonna be interesting to see how they manage to cut costs by $8m (or increase income whilst fiedlding a Youth Team) Havent you heard? The Aleague is a "selling league" now.... Most leagues around the world are the same.
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Monoethnic Social Club
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+x+x+x+x+x+x+xThe Good Bad news The stark reality for Standard de Liège, Genoa, Vasco da Gama, Red Star, Sevilla, Hertha Berlin and Melbourne Victory is that no-one at 777 Partners currently has any say in what happens to any of them. Instead, A-CAP, a holding company run by Kenneth King which owns five US insurers and has funded 777’s operations for years, is now in charge, and has instructed the New York investment bank Moelis to explore the sale of the company’s whole multi-club portfolio. The Bad Bad News777 double dipping on the Mortgages means they can't be sold unless Leadenhall (Law Suit Creditor) OK it Are they still able to demand the 50 mill (plus compounding interest) if they pull out or cannot sell their 19% share? That would decimate the club surely? They put in $8.7 million for the 19%, but they can't sell the 19% They haven't put in any more cash, but have a 5 year option (3.5 years to go) to do so and buy another 51%. So Victory have no cash, won't receive any from 777, and can't get any from anyone else whilst 777 effectively own the club that can't be sold wow ok.... not as ominous but still pretty shite. Problem is Victory was just about to fold when 777 first input bailed them out. (hence why the APL pointed them at Melbourne instead of Newcastle) Victory lost $6m in the year the central distribution was $2.5m Gonna be interesting to see how they manage to cut costs by $8m (or increase income whilst fiedlding a Youth Team) Havent you heard? The Aleague is a "selling league" now.... Most leagues around the world are the same. Dont most leagues around the world also have a domestic transfer system in place where lower league teams are able to ALSO profit from selling players to the higher leagues AND abroad?
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numklpkgulftumch
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+x+x+xThe Good Bad news The stark reality for Standard de Liège, Genoa, Vasco da Gama, Red Star, Sevilla, Hertha Berlin and Melbourne Victory is that no-one at 777 Partners currently has any say in what happens to any of them. Instead, A-CAP, a holding company run by Kenneth King which owns five US insurers and has funded 777’s operations for years, is now in charge, and has instructed the New York investment bank Moelis to explore the sale of the company’s whole multi-club portfolio. The Bad Bad News777 double dipping on the Mortgages means they can't be sold unless Leadenhall (Law Suit Creditor) OK it Are they still able to demand the 50 mill (plus compounding interest) if they pull out or cannot sell their 19% share? That would decimate the club surely? They put in $8.7 million for the 19%, but they can't sell the 19% They haven't put in any more cash, but have a 5 year option (3.5 years to go) to do so and buy another 51%. So Victory have no cash, won't receive any from 777, and can't get any from anyone else whilst 777 effectively own the club that can't be sold And as a real-world example excerpts taken from this article https://www.nytimes.com/athletic/5646879/2024/07/19/everton-friedkin-takeover-off-explained/Meanwhile back in Liverpool
The Friedken Group has walked away from buying Everton because 777 'own' part of it through a £200m debt
The issue is who that debt belongs to.
Like most of the money 777 invested in all of its other ventures, was somebody else’s money… and that somebody is A-Cap, an insurance group based in New York.
With its future in some doubt, largely thanks to its exposure to 777, A-Cap has taken control of 777’s assets and is trying to recoup as much money as it can.
The loans to Everton are assets and they are currently doing sterling work on A-Cap’s balance sheet at full value.
Nobody buying Everton, however, would want to pay that amount back — not least because 777’s security was junior to MSP’s and is still junior to RMF’s.
But who would a buyer do a deal with? A-Cap, right?
If only it was that simple.
To cut a long story short, 777 left quite a trail of disgruntled customers and investment partners.
The most disgruntled and frightening of those is Leadenhall Capital Partners, a London-based investment firm that specialises in the insurance industry.
In a blistering lawsuit filed in New York in May, Leadenhall accused 777 and A-Cap of fraud.
The central claim is that 777 borrowed hundreds of millions of dollars from Leadenhall secured on assets it had already used as security on other loans, most notably from A-Cap.
Known as “double-pledging”, it is like you or I mortgaging our house with multiple banks.
And, if that is not serious enough, Leadenhall says 777 also used collateral it did not even own to secure loans.777 and A-Cap have denied these claims, but the matter is being argued in a district court in New York
The uncertainty does not stop there, though, as there is a very real possibility that once Leadenhall’s civil case is resolved, the U.S. Department of Justice will file criminal charges.
Again, 777, A-Cap and their principals deny any wrongdoing, but serious allegations have been made by Leadenhall — and others in separate cases.
Any self-respecting corporate lawyer would have to warn a client looking at Everton that there may be a potential Proceeds of Crime Act (POCA) issue down the line.
TFG was certainly concerned about this and talked to Moshiri’s lawyers about indemnity insurance — but it is very difficult to indemnify anyone against something as open-ended as a POCA liability, even if Moshiri was minded to do it. And he was not.
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Volkz
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Yep.
My local Portuguese side needs sell 2-4 players first team players each season JUST to afford their professional license - 2nd tier club too.
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numklpkgulftumch
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Meanwhile in Florida
Private investment firm 777 Partners faces eviction from Miami HQ for ‘unpaid rent of $144K’
The landlord of a prestigious 40-story office skyscraper in downtown Miami has taken legal action to evict the private investment firm 777 Partners from its $76,000 per month, 25,138 sq. ft. office space on the 19th floor that serves as the group’s headquarters for non-payment of rent.
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numklpkgulftumch
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Meanwhile in BrazilDealing with Vasco De Gama, it looks like A-CAP are acting as though they are in full control of 777's football Assets. It would seem A-CAP are hoping to mitigate their losses rather than keep the clubs for profit Still no Guarantee that 777 are actually dead or that A-CAP can take over https://www.netvasco.com.br/n/342721/vp-juridico-felipe-carregal-diz-que-a-cap-quer-ressarcir-os-prejuizos-que-a-777-partners-causou
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ErogenousZone
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Hedge funds are a deal with the devil. Like SIlverlake.
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numklpkgulftumch
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What are the odds on Danny Townsend coming back and buying a distressed asset he helped distress ? https://www.givemesport.com/exclusive-pif-moving-forward-with-multi-club-model-with-777-clubs-under-consideration/PIF are moving ahead with plans to make Newcastle part of a multi-club model and have engaged in exploratory talks with 777 Partners about acquiring a club.
Meetings have taken place, with Red Star (France) and Standard Liege (Belgium) both discussed.
PIF-entity SURJ has also been involved in discussions.
777 also owns Genoa in Italy, Hertha Berlin in Germany and Vasco de Gama in Brazil, and holds minority stakes in Sevilla and Melbourne Victory.
Any offer is some way off, since talks have been formative to date, but they show a clear desire to acquire more clubs.
It is not thought PIF are looking to add more than one club directly tied to Newcastle, but the possibility of acquiring a significant part of the 777 Partners portfolio and dividing teams among several entities has not been ruled out.
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Monoethnic Social Club
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+xWhat are the odds on Danny Townsend coming back and buying a distressed asset he helped distress ? https://www.givemesport.com/exclusive-pif-moving-forward-with-multi-club-model-with-777-clubs-under-consideration/PIF are moving ahead with plans to make Newcastle part of a multi-club model and have engaged in exploratory talks with 777 Partners about acquiring a club.
Meetings have taken place, with Red Star (France) and Standard Liege (Belgium) both discussed.
PIF-entity SURJ has also been involved in discussions.
777 also owns Genoa in Italy, Hertha Berlin in Germany and Vasco de Gama in Brazil, and holds minority stakes in Sevilla and Melbourne Victory.
Any offer is some way off, since talks have been formative to date, but they show a clear desire to acquire more clubs.
It is not thought PIF are looking to add more than one club directly tied to Newcastle, but the possibility of acquiring a significant part of the 777 Partners portfolio and dividing teams among several entities has not been ruled out. This expanded Club World Cup is really the final nail in the coffin... scum are collecting football clubs like kids collecting Panini stickers.
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numklpkgulftumch
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+x+xWhat are the odds on Danny Townsend coming back and buying a distressed asset he helped distress ? https://www.givemesport.com/exclusive-pif-moving-forward-with-multi-club-model-with-777-clubs-under-consideration/PIF are moving ahead with plans to make Newcastle part of a multi-club model and have engaged in exploratory talks with 777 Partners about acquiring a club.
Meetings have taken place, with Red Star (France) and Standard Liege (Belgium) both discussed.
PIF-entity SURJ has also been involved in discussions.
777 also owns Genoa in Italy, Hertha Berlin in Germany and Vasco de Gama in Brazil, and holds minority stakes in Sevilla and Melbourne Victory.
Any offer is some way off, since talks have been formative to date, but they show a clear desire to acquire more clubs.
It is not thought PIF are looking to add more than one club directly tied to Newcastle, but the possibility of acquiring a significant part of the 777 Partners portfolio and dividing teams among several entities has not been ruled out. This expanded Club World Cup is really the final nail in the coffin... scum are collecting football clubs like kids collecting Panini stickers. I'm personally looking forward to watching Auckland City spending 50 million Euro's on their 500 seat stadium
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Monoethnic Social Club
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+x+x+xWhat are the odds on Danny Townsend coming back and buying a distressed asset he helped distress ? https://www.givemesport.com/exclusive-pif-moving-forward-with-multi-club-model-with-777-clubs-under-consideration/PIF are moving ahead with plans to make Newcastle part of a multi-club model and have engaged in exploratory talks with 777 Partners about acquiring a club.
Meetings have taken place, with Red Star (France) and Standard Liege (Belgium) both discussed.
PIF-entity SURJ has also been involved in discussions.
777 also owns Genoa in Italy, Hertha Berlin in Germany and Vasco de Gama in Brazil, and holds minority stakes in Sevilla and Melbourne Victory.
Any offer is some way off, since talks have been formative to date, but they show a clear desire to acquire more clubs.
It is not thought PIF are looking to add more than one club directly tied to Newcastle, but the possibility of acquiring a significant part of the 777 Partners portfolio and dividing teams among several entities has not been ruled out. This expanded Club World Cup is really the final nail in the coffin... scum are collecting football clubs like kids collecting Panini stickers. I'm personally looking forward to watching Auckland City spending 50 million Euro's on their 500 seat stadium It just shits me that there is no regard to what will be left behind when the bubble bursts.... Oh well, good luck to the Brave New World I suppose.
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numklpkgulftumch
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+x+x+x+xWhat are the odds on Danny Townsend coming back and buying a distressed asset he helped distress ? https://www.givemesport.com/exclusive-pif-moving-forward-with-multi-club-model-with-777-clubs-under-consideration/PIF are moving ahead with plans to make Newcastle part of a multi-club model and have engaged in exploratory talks with 777 Partners about acquiring a club.
Meetings have taken place, with Red Star (France) and Standard Liege (Belgium) both discussed.
PIF-entity SURJ has also been involved in discussions.
777 also owns Genoa in Italy, Hertha Berlin in Germany and Vasco de Gama in Brazil, and holds minority stakes in Sevilla and Melbourne Victory.
Any offer is some way off, since talks have been formative to date, but they show a clear desire to acquire more clubs.
It is not thought PIF are looking to add more than one club directly tied to Newcastle, but the possibility of acquiring a significant part of the 777 Partners portfolio and dividing teams among several entities has not been ruled out. This expanded Club World Cup is really the final nail in the coffin... scum are collecting football clubs like kids collecting Panini stickers. I'm personally looking forward to watching Auckland City spending 50 million Euro's on their 500 seat stadium It just shits me that there is no regard to what will be left behind when the bubble bursts.... Oh well, good luck to the Brave New World I suppose. No tickets available No TV Deal No sponsors Plenty of fun and games to be had yet
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numklpkgulftumch
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Meanwhile in LondonLondon Lions basketball club has entered administration after months of speculation around funding available from owners 777 Partners.
https://www.bbc.com/sport/basketball/articles/c5yd32y3ww5oThe American investors also owned a 45% stake in the British Basketball League (BBL), which had its licence terminated due to concerns over finances in June. The Lions have won 19 trophies across the men's and women's game since 777 bought them in 2019. The club, which is based at the Copper Box Arena in Stratford, is now in the hands of insolvency firm Hudson Weir.
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numklpkgulftumch
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Don Dransfield, the former Chief Strategy Officer of City Football Group, who was appointed CEO of 777’s Football Operations to much fanfare in May 2022 quit his role at the end of June. This is the dude who was (is still ?) on Victory's Board anyone got any idea who is now ? https://melbournevictory.com.au/people/board-and-staff/comes up blank
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numklpkgulftumch
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New owners found for the Basketball team  https://www.cityam.com/bbl-champions-london-lions-bought-out-of-administration-by-lithuanian-group/“As part of the final deal, Hudson Weir were able to save the club, with no loss of jobs, a positive return to creditors, and the London Lions will be playing in the next season of the BBL.
This was a very good return for all parties concerned. not sure what % the creditors got, but obviously nothing for 777
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numklpkgulftumch
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Meanwhile in New York
Leadenhall (777 creditor) have amended their complaint to try and stop A-CAP selling off anything of value, and leaving them with the dregs.
I wonder what the rights to buying 51% of Victory are worth ? Sounds like roughly $0.
No mention of selling the 19% they already have anywhere either
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numklpkgulftumch
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+xMeanwhile in New YorkLeadenhall (777 creditor) have amended their complaint to try and stop A-CAP selling off anything of value, and leaving them with the dregs. I wonder what the rights to buying 51% of Victory are worth ? Sounds like roughly $0. No mention of selling the 19% they already have anywhere either A-Cap look to have failed in their attempt to get hold of the Everton Loan Cash outside of 777's creditors Bottom Line, Leadenhall (and ING and any others) will have a say in any prospective sales of 777's football assets Question is what A-Cap's strategy is now ?
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numklpkgulftumch
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numklpkgulftumch
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meanwhile in Florida Miami investment firm 777 Partners, which is facing several lawsuits by creditors, hit back with its own suit accusing one key lender of hiring 777’s former information technology head to steal data for its litigation. According to a complaint filed on Tuesday in Florida Federal Court, London-based Leadenhall Capital Partners illegally accessed 777’s computer systems by enlisting forensic accounting firm SAIPH Consulting.
That firm was founded by a former executive of 777 affiliate SuttonPark Capital and employs 777’s former IT chief Noah Davis, 777 alleges.
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tsf
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Amazing MV dinner for the business community last night.
Quite remarkable the amount of sponsors the club has retained over the years, but also new ones coming in.
Also mini deals like the amazing hook up with insurance company for the spurs tour
And bonza going belly up, allowing Turkish airlines to immediately waltz in, you couldn't plan it.
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robbos
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+xAmazing MV dinner for the business community last night. Quite remarkable the amount of sponsors the club has retained over the years, but also new ones coming in. Also mini deals like the amazing hook up with insurance company for the spurs tour And bonza going belly up, allowing Turkish airlines to immediately waltz in, you couldn't plan it. That sounds great for MV. Expecting a big year for MV.
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tsf
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+x+xAmazing MV dinner for the business community last night. Quite remarkable the amount of sponsors the club has retained over the years, but also new ones coming in. Also mini deals like the amazing hook up with insurance company for the spurs tour And bonza going belly up, allowing Turkish airlines to immediately waltz in, you couldn't plan it. That sounds great for MV. Expecting a big year for MV. Let's see though, in years past I expected a good team on pitch and didn't eventuate. MV have had a great pre-season, however not sure how hard they have been tested. We will see Saturday. Kisnorbo looks as if he's more fitness than tactical
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robbos
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+x+x+xAmazing MV dinner for the business community last night. Quite remarkable the amount of sponsors the club has retained over the years, but also new ones coming in. Also mini deals like the amazing hook up with insurance company for the spurs tour And bonza going belly up, allowing Turkish airlines to immediately waltz in, you couldn't plan it. That sounds great for MV. Expecting a big year for MV. Let's see though, in years past I expected a good team on pitch and didn't eventuate. MV have had a great pre-season, however not sure how hard they have been tested. We will see Saturday. Kisnorbo looks as if he's more fitness than tactical Football in Australia for the last 50 years.
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numklpkgulftumch
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Club Shop has dumped last Seasons Kit already 
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tsf
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+xClub Shop has dumped last Seasons Kit already Already? Like after they have a new kit - can you give me the correct time for teams to get rid of old kit?
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NicCarBel
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+x+xClub Shop has dumped last Seasons Kit already Already? Like after they have a new kit - can you give me the correct time for teams to get rid of old kit? surprised it wasn't on sale earlier if that's the case
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tsf
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+x+x+xClub Shop has dumped last Seasons Kit already Already? Like after they have a new kit - can you give me the correct time for teams to get rid of old kit? surprised it wasn't on sale earlier if that's the case It probably was.
He’s trying to have a dig but is just coming across as daft with that
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numklpkgulftumch
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+x+x+xClub Shop has dumped last Seasons Kit already Already? Like after they have a new kit - can you give me the correct time for teams to get rid of old kit? surprised it wasn't on sale earlier if that's the case Everyone else has them for Sale at a discount. ( eg City have theirs at $80 ) Jim Kidds taken them all for a few dollars each If the Bonza connection is that embarrassing why not just bin them ? or maybe MV can't afford to turn down quick bucks ?
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NicCarBel
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+x+x+x+xClub Shop has dumped last Seasons Kit already Already? Like after they have a new kit - can you give me the correct time for teams to get rid of old kit? surprised it wasn't on sale earlier if that's the case Everyone else has them for Sale at a discount. ( eg City have theirs at $80 ) Jim Kidds taken them all for a few dollars each If the Bonza connection is that embarrassing why not just bin them ? or maybe MV can't afford to turn down quick bucks ? I think it's just the fact it's out of date... go to any Rebel Sport and look for the clearance rack.
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Quicky
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+x+x+x+xClub Shop has dumped last Seasons Kit already Already? Like after they have a new kit - can you give me the correct time for teams to get rid of old kit? surprised it wasn't on sale earlier if that's the case Everyone else has them for Sale at a discount. ( eg City have theirs at $80 ) Jim Kidds taken them all for a few dollars each If the Bonza connection is that embarrassing why not just bin them ? or maybe MV can't afford to turn down quick bucks ? What's your bent against Victory?
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numklpkgulftumch
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+x+x+x+x+xClub Shop has dumped last Seasons Kit already Already? Like after they have a new kit - can you give me the correct time for teams to get rid of old kit? surprised it wasn't on sale earlier if that's the case Everyone else has them for Sale at a discount. ( eg City have theirs at $80 ) Jim Kidds taken them all for a few dollars each If the Bonza connection is that embarrassing why not just bin them ? or maybe MV can't afford to turn down quick bucks ? What's your bent against Victory? Life long City fan
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Quicky
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Group: Forum Members
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+x+x+x+x+x+xClub Shop has dumped last Seasons Kit already Already? Like after they have a new kit - can you give me the correct time for teams to get rid of old kit? surprised it wasn't on sale earlier if that's the case Everyone else has them for Sale at a discount. ( eg City have theirs at $80 ) Jim Kidds taken them all for a few dollars each If the Bonza connection is that embarrassing why not just bin them ? or maybe MV can't afford to turn down quick bucks ? What's your bent against Victory? Life long City fan Oh man if you put the same effort you do trolling Victory you'd have a banging Citeh thread
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SUTHERLANDBEAR
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+x+x+x+x+x+xClub Shop has dumped last Seasons Kit already Already? Like after they have a new kit - can you give me the correct time for teams to get rid of old kit? surprised it wasn't on sale earlier if that's the case Everyone else has them for Sale at a discount. ( eg City have theirs at $80 ) Jim Kidds taken them all for a few dollars each If the Bonza connection is that embarrassing why not just bin them ? or maybe MV can't afford to turn down quick bucks ? What's your bent against Victory? Life long City fan So you are only about 14, then ?
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numklpkgulftumch
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+x+x+x+x+x+x+xClub Shop has dumped last Seasons Kit already Already? Like after they have a new kit - can you give me the correct time for teams to get rid of old kit? surprised it wasn't on sale earlier if that's the case Everyone else has them for Sale at a discount. ( eg City have theirs at $80 ) Jim Kidds taken them all for a few dollars each If the Bonza connection is that embarrassing why not just bin them ? or maybe MV can't afford to turn down quick bucks ? What's your bent against Victory? Life long City fan So you are only about 14, then ? Shhhh ! Can't have Victory fans thinking it's not all about them
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Monoethnic Social Club
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+x+x+x+x+x+x+x+xClub Shop has dumped last Seasons Kit already Already? Like after they have a new kit - can you give me the correct time for teams to get rid of old kit? surprised it wasn't on sale earlier if that's the case Everyone else has them for Sale at a discount. ( eg City have theirs at $80 ) Jim Kidds taken them all for a few dollars each If the Bonza connection is that embarrassing why not just bin them ? or maybe MV can't afford to turn down quick bucks ? What's your bent against Victory? Life long City fan So you are only about 14, then ? Shhhh ! Can't have Victory fans thinking it's not all about them If only you where 5 years older you could have been a life long fan of one of the more storied franchises..... hahahahahah
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SUTHERLANDBEAR
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+xClub Shop has dumped last Seasons Kit already Nothing abnormal about this. And it is a $100 less than the original price.
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numklpkgulftumch
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Meanwhile in London  777 partners UK , insolvent, wound up.
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numklpkgulftumch
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Meanwhile in USA  https://www.abc.net.au/news/2024-10-01/bonza-airline-investors-probed-by-authorities-money-laundering/104412908The cash poured into failed Australian airline Bonza is being examined as part of a US investigation into money laundering.The US Department of Justice is investigating whether private investment firm 777 Partners and its primary source of funding, insurer A-CAP, have violated US money-laundering laws. Investigators are examining whether policyholders' money was invested where it was supposed to be, including why some funds meant for 777's football teams instead went to Bonza.
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HappyGuus
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Is Victory done with 777 now? No more ties?
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numklpkgulftumch
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+xIs Victory done with 777 now? No more ties? They own 19% and have the rights to buy another 51% for 3+ more years. All in the thread
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Quicky
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+x+xIs Victory done with 777 now? No more ties? They own 19% and have the rights to buy another 51% for 3+ more years. All in the thread They only have the rights to buy more if they stump up more money which they aren't and likely won't be able to. They'll end up selling their 19%.
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numklpkgulftumch
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+x+x+xIs Victory done with 777 now? No more ties? They own 19% and have the rights to buy another 51% for 3+ more years. All in the thread They only have the rights to buy more if they stump up more money which they aren't and likely won't be able to. They'll end up selling their 19%. By all reports A-Cap are running the football part of 777 now, and no-one knows what their strategy is They look like they're trying to sell some of the clubs, but there's been no mention of MV anywhere. The 51% rights mean that no-one else can put money in til 2028 Given the problems selling NJ, PG and Canberra, it's hard to say whether the 19% is worth anything at all, or the rights. Costs A-Cap nothing just to sit tight and see if the APL manages to pull a rabbit out the hat in the next 3 years In the meantime I guess MV have to find a way to run at breakeven for 3 seasons For reference, MV lost $6.7 million in 2021-22, back then they got $2.5m from the APL distribution https://www.smh.com.au/sport/soccer/record-financial-loss-at-melbourne-victory-as-us-ownership-looms-20221231-p5c9kr.html
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numklpkgulftumch
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+x+x+x+xIs Victory done with 777 now? No more ties? They own 19% and have the rights to buy another 51% for 3+ more years. All in the thread They only have the rights to buy more if they stump up more money which they aren't and likely won't be able to. They'll end up selling their 19%. Costs A-Cap nothing just to sit tight Looking like A-Cap has agreed to vary (stretch out) the repayment of 777s $400m loan to Everton Freidken Group likely to pay some back when they takeover and the rest going on a payment plan with Share purchase rights. Sound familiar ?
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tsf
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+x+x+xIs Victory done with 777 now? No more ties? They own 19% and have the rights to buy another 51% for 3+ more years. All in the thread They only have the rights to buy more if they stump up more money which they aren't and likely won't be able to. They'll end up selling their 19%. Yep. Worked out fine for MV.
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grazorblade
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Not sure if this is new, havent been following this story closely https://josimarfootball.com/2024/10/07/777-partners-in-crime/
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Monoethnic Social Club
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Group: Forum Members
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Hmmm do I buy the yacht if I win Powerball OR shares in Melbourne Victory? hahahahha Both could sink overnight???? hahahahahah
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LFC.
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Group: Forum Members
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777 and titanic seems a good fit. I read an article the other day all is normal re MV, you got wonder how considering a 19% investor is at the bottom of the sea.
Love Football
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tsf
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Group: Forum Members
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+x777 and titanic seems a good fit. I read an article the other day all is normal re MV, you got wonder how considering a 19% investor is at the bottom of the sea. MV has that many sponsors and people of influence on board. They will never be in trouble in the foreseeable future. I was at Victory in Business lunch, the table next to me had about 4 old greeks and italians worth 100s of millions each. That's one table. They have the whole crown palladium booked out. They have stitched up that many sponsors it's ludicrous.
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tsf
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Group: Forum Members
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Interesting how many non-football people are there too. For example, names like Lindsey Fox etc. Lots of AFL media types too, and even AFL players there, which in Melbourne is a big deal lol. I am actually surprised by how ingrained in the business and media world their executive team are
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LFC.
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Group: Forum Members
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cheers tsf, yer look most of these pro clubs are in the white collar cbd circle no matter the code. Promo day lunch dinner, marketing write offs it no matter the code, they all end up being around the same regular corporate boxs. I have a mate or 3 who are Allianz members for yonks, they at so many different events purely from the networking. This would apply to all the city CBD Club codes.
Love Football
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tsf
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Was at the Victory In Business luncheon yesterday. Packed crown palladium.
Basically every sponsor has signed on for two more years, and they also announced that Spurs sponsor is now on board after the success of the short term deal last season.
Arzani was there but rumours are he's going...I hope not.
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LFC.
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tsf, is your company a sponser as well ?
Love Football
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tsf
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Group: Forum Members
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+xtsf, is your company a sponser as well ? I had a table there, but a close family member is a sponsor.
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LFC.
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me a favour +x+xtsf, is your company a sponser as well ? I had a table there, but a close family member is a sponsor. ah - now I get why your mixing amongst the "suits" haha Do me a favour - IF LFC ever comes up in discussions for possible MV partnership as I've seen in the past, talk it down say NO Scousers allowed - please I couldn't friggin bare this :) :(
Love Football
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tsf
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Group: Forum Members
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+xme a favour +x+xtsf, is your company a sponser as well ? I had a table there, but a close family member is a sponsor. ah - now I get why your mixing amongst the "suits" haha Do me a favour - IF LFC ever comes up in discussions for possible MV partnership as I've seen in the past, talk it down say NO Scousers allowed - please I couldn't friggin bare this :) :( ha ha ha ok mate however if you ever want to get on board I can organise for a scarf to be sent up :)
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LFC.
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Group: Forum Members
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haha like your gesture, I have enough splint up here to start my open fireplace haha
Love Football
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numklpkgulftumch
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Thump3r
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so is victory owned by them in any sort of way still? pondering getting my membership again but don't want to if they are
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numklpkgulftumch
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Group: Forum Members
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+xso is victory owned by them in any sort of way still? pondering getting my membership again but don't want to if they are 19% with an option to buy another 51% by the end of 2027
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SUTHERLANDBEAR
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+xso is victory owned by them in any sort of way still? pondering getting my membership again but don't want to if they are Support the team, not the regime !!!
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Thump3r
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Group: Forum Members
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+x+xso is victory owned by them in any sort of way still? pondering getting my membership again but don't want to if they are Support the team, not the regime !!! do support the team but wont support the regime, soz my dude, still watch on the telly though
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numklpkgulftumch
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Group: Forum Members
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+x+x+xso is victory owned by them in any sort of way still? pondering getting my membership again but don't want to if they are Support the team, not the regime !!! do support the team but wont support the regime, soz my dude, still watch on the telly though Nice to see someone with principles around here Although a little unsure on how the line got drawn.
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