777 finances update amid Everton takeover as long-term vision eyed
Sources close to the deal believe that 777 Partners have adequate funds to complete the Everton takeover and continue investing, according to Mark Douglas.
The I journalist reported on Friday (15 September) that the deal may even go up to £1billion given the stadium at Bramley-Moore Dock is still to be built.
Meetings are being planned with supporter groups and minority shareholders about the right moves forward for the club.
Douglas wrote, “Potentially a £1bn question. As well as the money to buy Moshiri’s 94.1 per cent stake, they will need to find money to complete the Bramley-Moore Dock stadium project. There remains an estimated shortfall of around £200m in a build that could cost up to £760m.
“Sources close to the deal told i 777 are adamant they have the funds to complete the deal and invest in the club. They point to a ‘strong football portfolio’ as proof of that and plan to meet with supporter groups and minority shareholders in the future when more details about funding will be provided. They intend to let the regulatory process ‘play out’ before those meetings take place.”
New era beckons
Farhad Moshiri has driven this club down the drain and it was time for him to step aside a few years ago.
However, it’s better late than never for Everton fans and while 777 Partners do not have the best history in running football clubs, a change was needed.
By the looks of it, everything appears to be in place and in line to go ahead as planned so a new era can begin for the Toffees.
The club are one of the biggest in terms of history but in recent years have become the laughing stock of the Premier League.
A new stadium shows promise for the future and the new owners can help realise the potential of this club.
Bill Kenwright perhaps need to step away too as he’s synonymous with many of the problems at Everton for the past two decades.
In other Everton news, a senior Toffees player has been ripped to shreds by a TNT Sports pundit after what he did against Sheffield United.