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Everton takeover reports disputed amid 'serious' 777 Partners news - Philippe Auclair
An Everton takeover deal with 777 Partners is not on the cards because the company has “serious financial difficulties” and don’t have the means to “save” the club, according to Philippe Auclair.
Reporting via the Eurosport website (14 September) the journalist suggests that the widespread reports in the British media of a deal advancing have been based “without exception” on a “unique source” – a person close to Farhad Moshiri “who has every interest in believing that the club retains its attractiveness for new investors”.
The Miami-based firm, who hold stakes in various clubs round the world, have been named “firm favourites” to secure a deal with Farhad Moshiri, with talks said to now be at an “advanced” stage.
But Auclair writes: “The information I have received does not point to the same direction and instead suggests that 777 Partners themselves are experiencing serious financial difficulties.
“The American fund, of which all the clubs are in debt and accumulating losses by the millions, does not have the means to save Everton anyway;
“At best they would be a most doubtful plaster on a wooden leg that worms are eating away from the inside.”
Game over?
Despite an apparent leap forward in the process this week there have been various questions raised over the chances of a deal being completed, even if agreement is reached.
777 Partners have denied the issues mooted on suitability grounds, and have reportedly been attempting to raise funds this summer.
But if Auclair is accurate it would appear to write off the chances of it getting done, or even being worth pursuing, given his own catastrophic assessment of the help the club is in need of.
Whether the situation at Goodison Park is desperate or just difficult doesn’t detract from that fact that the club needs a sustainable, long-term solution with the finances to balance the books and fund the running of the club along with the stadium development.
Moshiri has poured hundreds of millions into the club since he took charge but Everton have still registered huge losses over a number of years.
But if he can’t or won’t do so any further he must ensure anyone he sells to has the capacity to solve the problems facing the Toffees, and certainly won’t add to them.
A buyer needs to be able to afford what they are buying, whoever they are, as well as run it for however long they are in charge, so if 777 Partners are at the front of the queue the relevant authorities have to be sure that is that case or they would be opening the door on even greater woes at the cub.
In other Everton news, a major contract decision has been vindicated as a player was left close to tears this week.