777 Partners now want West Ham deal after Everton takeover bid fails amid £400m development
American investment fund 777 Partners remain determined to acquire a Premier League club after pulling out of the Everton race, according to the Daily Mail.
The Esk revealed on 24 May that the US-based fund pulled out of the race to acquire shares in Everton football club after news emerged that Farhad Moshiri and MSP Sports Capital have both entered into an exclusivity period.
The takeover between the two parties talks are expected to go ahead once the club’s Premier League status has been confirmed one way or another, but that hasn’t stopped 777 partners from looking to invest elsewhere.
“American investment fund 777 Partners remain determined to acquire a Premier League club after a failed bid for Everton last week.
“Sources close to the group have not been put off from buying a club in England, with Sheffield United and West Ham seen as potential targets.”
“It is understood that the group valued the Goodison Park club at closer to £400m, or £200m lower than initial reports had suggested. Relegation fears were among concerns that pushed their valuation down” the Daily Mail reveals [28 May].
Edging closer
It certainly comes as some promising news to Everton fans that a takeover at the club is edging ever so closer with 777 partners at some point looking nailed-on favourites to become the preferred bidder.
However, that picture has dramatically changed now with MSP Sports Capital entering into an exclusivity period of talks with Moshiri further giving the belief that a potential takeover is looking close to completion.
It certainly proves as a blow to 777 partners to lose the Everton opportunity, but there are plenty of other new investment deals to be made elsewhere in England and West Ham arguably represent an ideal investment proposition for them to exploit.
Both respective deals will likely usher in new eras at both football clubs after they’ve both suffered disappointing Premier League campaigns and are in desperate need of change and refreshment both on and off the pitch.
Moshiri’s disastrous time as majority shareholder is beginning to take shape in the rear-view mirror and that is arguably the best piece of news Everton fans have received this year so far.