The Athletic scrutinises 777's 28-slide teaser sales pitch aimed at prospective investors as they seek future funding for the entire group
If 777 Partners did school assemblies, last Thursday’s would have been amazing. After the usual messages about litter and tucking shirts in, headmaster Josh Wander would have turned to the school’s sporting exploits on Wednesday and reeled off win after win, prompting raucous cheers from the pupils and satisfied nods from the staff. Advertisement The has not got around to disrupting the education sector yet, so don’t worry: there are no 777 school assemblies.
Some financial experts say this provides a picture of a company’s underlying potential as it strips away variable costs. Other experts say life does not work like that and think EBITDA is a magician’s trick. What is most interesting about 777’s claims is they acknowledge — kind of — that its clubs lose money as the group’s aggregate EBITDA is negative, with a loss of £83million last season.
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