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Post by spacejammer on Dec 13, 2023 13:13:46 GMT
As the "spokesman" for 777 will know, they have a long line of debts and unpaid liabilities. Sadly the BBL, and the clubs owned by 777, will collapse in the next few months. How confident of that are you? Curious. And what’s your source? To be honest this situation is literally beginning to turn into a bit of a pantomime. 777 to collapse, oh no they won't. Oh yes they will, Oh no they won't. I wonder how long until we find out for sure? |
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Post by LTfan on Dec 14, 2023 9:23:36 GMT
As the "spokesman" for 777 will know, they have a long line of debts and unpaid liabilities. Sadly the BBL, and the clubs owned by 777, will collapse in the next few months. For as long as there's a chance 777 might buy Everton FC, the BBL or London Lions aren't going to collapse. Purchasing Everton FC is clearly a priority for them, and allowing the BBL and/or London Lions to collape would not be good for their chances of their happening. 777 will do whatever it takes to avoid that kind of publicity at the moment, especially when comparatively it'll only cost them pocket change. I'm not saying everything is good. But I don't believe the BBL and/or London Lions are on the brink of collapse. |
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Post by cosbyrider on Dec 21, 2023 15:37:11 GMT
Their club Standard de Liège has just been hit by transfer ban by Belgian FA for failing to meet its financial obligations (transfer fees, social insurance contributions, salaries, etc).
Another day, another story about failing to meet their financial obligations - at the very least, there is evidence to state they don’t pay parties on time. Football can get away with it- it’s more problematic in a sport and league which is so much more closer to community
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Post by LTfan on Dec 21, 2023 16:07:04 GMT
It's fair to say 777 Partners are a bit all over the place, which isn't the most professional look if nothing else.
They're also in the news today over a 'breakdown of business relationship' with one of their leading UK partners - Redstrike, who were part of the Everton FC purchase plans. Redstrike are involved in several sports organisations globally and teamed up with 777 in 2021 over a proposal for a Formula One race in East London (not to be confused with the existing Formula E race in East London).
And don't forget Brazilian team Vasco De Gama, part owned by 777, have also missed scheduled transfer payments.
Meanwhile, on the other hand, 777 recently handed over £100M to Everton FC to keep them going until their plans to purchase them are approved - with Premier League approval still far from certain.
So 777 are missing payments of a few hundred thousand, maybe a few million, here and there... whilst also giving out £100M elsewhere. Like I say, a bit all over the place.
I still stand by my comment that 777 won't let anything happen to the BBL or London Lions for as long as they're seeking Premier League approval to buy Everton FC. So ‘days away from administration’ is rubbish. After that, well that's a bit more uncertain.
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Post by foxtrot27 on Dec 21, 2023 17:25:14 GMT
A bit all over the place is generous and the logic that 777 won't let anything happen to BBL while trying to buy Everton is flawed. What is apparent, is that the PL is dragging this process out to the extent that 777 will either have to keep pumping money in with no certainty of the deal going through, or they will just tire of the process and drop out. The constant scrutiny over money laundering, dodgy payments, and Mr Wander will eventually kill the Everton deal. This will eventually filter down to BBL. No big name sponsor will get involved now, even if Lions won the Eurocup. Haven't even touched on the infighting within the league. What a mess this all is and does nothing to advance British basketball, if anything the opposite.
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Post by notoriousbigz on Dec 21, 2023 20:09:37 GMT
Both Vasco de Gama and Standard Liege have been sanctioned for late payments of transfer fees.
Make of that what you will.
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Post by milehigh on Dec 21, 2023 20:32:09 GMT
I hope that the directors of the non-777 clubs are getting together to make survival plans for when the inevitable collapse of the 777 funding happens.
First step would be to introduce a sensible salary cap for the 24/25 season onwards, they also need to develop ways to market the sport to make it attractive to reputable sponsors and investors.
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Post by ScottishBasketballFan on Dec 21, 2023 21:55:56 GMT
The fact they only removed the Salary Cap to benefit one club is mind numbingly stupid
Clubs in this country are never going to be World Beaters, and to that fool who said the BBL was going to be the 2nd best league in the World behind the NBA, in the words of Nelson Muntz "Ha ha"
We really should have listened to dunkster, no matter how much of an annoying 🔔he was being about it he was right. Surely the custodians of the Lions before 777 are just as much to blame for this mess, if they had done proper due diligence then perhaps they'd have sought less risky investment from elsewhere, but then again the BBL should never have let 777 own a large piece of the league in the first place, just another mark against a League who've made some rather atrocious decisions in terms of who they let in the League, Birmingham Knights and London City Royals spring to mind, although in fairness to the Royals they were a wee bit successful
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Post by LTfan on Dec 22, 2023 11:48:50 GMT
...just another mark against a League who've made some rather atrocious decisions... And lets not forget turning down Sky Sports, and a promised weekly post-Premier League Saturday evening slot in the schedule, for the somewhat unknown certainty of ITV Digital. The BBL has a history is taking the big money deal, regardless of whether it's actually the right one - from ITV Digital to 777 Partners. But in their defence, I don't think the decision to take the big money deal is always down to greed, I think sometimes it's down to necessity. |
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Post by blueskies99 on Dec 22, 2023 12:00:44 GMT
A bit all over the place is generous and the logic that 777 won't let anything happen to BBL while trying to buy Everton is flawed. What is apparent, is that the PL is dragging this process out to the extent that 777 will either have to keep pumping money in with no certainty of the deal going through, or they will just tire of the process and drop out. The constant scrutiny over money laundering, dodgy payments, and Mr Wander will eventually kill the Everton deal. This will eventually filter down to BBL. No big name sponsor will get involved now, even if Lions won the Eurocup. Haven't even touched on the infighting within the league. What a mess this all is and does nothing to advance British basketball, if anything the opposite. ……what’s all this about the infighting within the league? Is it a pro-777 versus the anti-777 or something else? |
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benji
Sixth Man
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Post by benji on Dec 22, 2023 15:39:10 GMT
Why on earth would the Premier league allow these guys to take over Everton? They either can't or won't (it appears) pay their bills, I assume they're just stringing them along for the free loan for as long as possible!
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Post by ScottishBasketballFan on Dec 22, 2023 19:05:18 GMT
Why on earth would the Premier league allow these guys to take over Everton? They either can't or won't (it appears) pay their bills, I assume they're just stringing them along for the free loan for as long as possible! |
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benji
Sixth Man
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Post by benji on Dec 22, 2023 20:39:58 GMT
What do I know lol!
To be fair, I've no idea whether the FCA approving things has any meaning regarding my point. I wouldn't want them being part of something I owned.
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Post by foxtrot27 on Dec 22, 2023 22:45:08 GMT
At this point, it makes no difference if 777 stays or goes, the reputational damage has been done to the BBL brand. No outside investor or sponsor are going to step into this mess. And although on the surface, the graphics, branding and even more TV coverage in the US looks good, and to be fair, a vast improvement, the metrics by which investors look at when making a financial decision are just not there. Lions winning a lopsided domestic league and even having a good run in Eurocup does not make up for aggregate dismal tickets sales, no real paid sponsorship and all the TV deal that do not result in meaningful rights fees paid to the league, if any at all. I think it was dunkster who kept on about “window dressing”.
Conundrum is the word that best describes where we are right now.
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Post by spacejammer on Dec 23, 2023 12:10:25 GMT
I'm starting to see a pattern here.
Everytime a new story or something gets released about how dodgy 777 is.
Shortly after they have announced another media partnership deal stateside.
I'm not quite sure what to make of it but surely I'm not the only one who finds that a little concidental?
Surely whatever people think of 777 surely this means some people must still have faith in them or their not as aware of their reputation as much.
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Post by LTfan on Dec 23, 2023 17:32:15 GMT
I'm starting to see a pattern here. Everytime a new story or something gets released about how dodgy 777 is. Shortly after they have announced another media partnership deal stateside. I'm not quite sure what to make of it but surely I'm not the only one who finds that a little concidental? Surely whatever people think of 777 surely this means some people must still have faith in them or their not as aware of their reputation as much. I’m not sure what you’re suggesting? For all of these US broadcasts the BBL is little more than schedule filler (that’s not to say they’re not good deals for the BBL). I don’t see any connection between these deals and 777 Partners positive/negative reputation. |
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benji
Sixth Man
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Post by benji on Dec 23, 2023 18:12:37 GMT
I'm starting to see a pattern here. Everytime a new story or something gets released about how dodgy 777 is. Shortly after they have announced another media partnership deal stateside. I'm not quite sure what to make of it but surely I'm not the only one who finds that a little concidental? Surely whatever people think of 777 surely this means some people must still have faith in them or their not as aware of their reputation as much. I’m not sure what you’re suggesting? For all of these US broadcasts the BBL is little more than schedule filler (that’s not to say they’re not good deals for the BBL). I don’t see any connection between these deals and 777 Partners positive/negative reputation. I think they're saying that they keep these good news stories under wraps until they need something to divert people's attention away from the not so good news stories. |
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Post by LTfan on Dec 23, 2023 20:16:05 GMT
I’m not sure what you’re suggesting? For all of these US broadcasts the BBL is little more than schedule filler (that’s not to say they’re not good deals for the BBL). I don’t see any connection between these deals and 777 Partners positive/negative reputation. I think they're saying that they keep these good news stories under wraps until they need something to divert people's attention away from the not so good news stories. I thought that might be the case, but the deals normally commence (i.e. they start broadcasting the games) within a few days of each announcement, so I don’t think could be that well coordinated. I do understand the suspicion though. |
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Post by eillo23 on Jan 3, 2024 20:10:37 GMT
Nearly a month later….. Must be time for another post by you Cosby. Did notice you’ve been the one to start every negative article about 777. |
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Post by milehigh on Jan 4, 2024 4:15:49 GMT
I note from companies house that the accounts for london Lions were not filed by the required date, and that there is an "Active proposal to strike off" for 777 Partners uk Ltd, as well as the accounts not been filed with Companies house. The above suggests that, along with the published information about debt in other parts of the 777 group, that 777 as a group, and subsidary companies, are very unstable financially, and are likely to collapse in the short to medium term. Seems their investments in Belgium & Italy aren't going well josimarfootball.com/2023/12/22/show-me-the-money/Seems like a consistant pattern here. |
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