Everton takeover: ‘Red flags’ emerge as Ian Ladyman reveals update on 777 borrowed capital
Any potential Everton takeover by 777 Partners will be financed by borrowed capital, according to Ian Ladyman.
Writing on page 75 of the Daily Mail’s print edition on 15 September, the journalist said the back story of the US investment firm “spews out red flags like confetti”, highlighting the criminal charge against co-founder Josh Wander and the missed payment to the British Basketball League earlier this summer.
He added that he would be hoping the deal falls through if he were a Toffees fan and questioned whether the club are really this desperate to allow the group to take over.
“The back story of the prospective new Everton owners spews out red flags like confetti,” he said. “It seems any takeover by the American investment firm 777 Partners would be financed by borrowed capital.
“Co-founder Josh Wander has a criminal record having 20 years ago had cocaine sent to him through the post. Not just criminal, then, but stupid with it.
“Add to this the fact they missed a payment date for almost €1million (£860,000) owed – now paid – to the British Basketball League earlier this summer and the hairs on the back of your neck only stand taller.
“If I was an Everton fan I would ask myself why 777 really want to buy my club. Despite the current pickle that Everton find themselves in, I would also be hoping this deal falls down. We know Everton are desperate but are they
really this desperate?”
Big questions
There are a lot of big questions that need to be asked regarding the potential takeover because there are very few answers being given at the moment in time.
Since it was reported advanced talks were underway with Farhad Moshiri on 12 September, a lot has been revealed about 777 Partners and pretty much all of it has been negative, which doesn’t bode well whatsoever [iNews].
The criminal charges and the financing issues are major red flags, while the lack of success on-field for the other clubs it owns should also be a worry.
It just seems incredibly unlikely that the group has the money to even push through a deal, let alone get it through the Premier League’s checks.
It’s a really difficult time for Everton fans, but while they are desperate for a takeover, surely many will be very sceptical about whether this is the right people to take the club forward.
In other Everton news, a pundit has raved about one player following his recent performances.