Finance Expert reacts as 777 Partners claims emerge in Everton takeover twist
We’re delighted to welcome football finance expert Dr Daniel Plumley as our exclusive columnist. Each week he’ll be giving his views on the biggest talking points at Everton
Dan Plumley has insisted that it is equally as important for clubs to do their due diligence on potential investors after the latest news on 777 Partners.
Josimar Football on 3 July shared worrying reports that the consortium, who were interested in a full Everton takeover, has been accused in US Court Papers of kidnapping, extortion and fraud among many other things.
The finance expert shared that it proves that due diligence works both ways, with investors looking deeply into clubs before making any investments, which is another reason why these things can take so long.
“It absolutely is,” he exclusively told Goodison News when asked if clubs doing their own due diligence is equally important.
“We often forget that as well, we talk about due diligence with investors looking at the club and their finances, but it has to work the other way. Clubs have to look at investors and owners and people that will be looking at taking over that business, and that again, comes down to individuals and the question of ethics.
“It absolutely is vitally important and it has to be a two-way street, due diligence has to be conducted on both sides which is why sometimes these things take a lot longer than people may expect.”
Farhad Moshiri has made it no secret that he is looking for outside investment, but thankfully, 777 Partners’ initial interest did not go any further than that.
MSP Sports Capital are said to have got their investment over the line, but that has yet to be confirmed as everyone waits for that to become official at Goodison Park.
In other Everton news, Bill Kenwright had written a new resignation letter for the club before a new twist