Journalist reveals what 777 Partners source said during Everton takeover talks
Sources close to 777 Partners claim that the group have the funds to complete the takeover of Everton despite growing concerns, according to The Guardian journalist Andy Hunter (15 September).
Hunter wrote for the newspaper’s online edition that 777 would not have entered negotiations with Farhad Moshiri for his 94.1% stake in Everton and “would not have made it this far” unless they had the finances.
Many questions remain regarding the group’s ability to finance the move despite the club confirming the takeover had been agreed.
Questions, questions, questions
Many Everton fans are just happy to be seeing the back of Moshiri after years of turbulence at Goodison Park.
While 777 Partners’ takeover of the club has been agreed with Moshiri, it still needs to be approved by the Premier League and other official regulators.
Question marks remain over the Miami-based company’s financial strength, with UK Government officials, according to the Daily Mail (30 August), concerned about whether managing director Josh Wander would pass the owners’ and directors’ test.
The Guardian also claim that the company face allegations of unpaid debts and fraud, with these issues still the subject of legal proceedings across the Atlantic. Those allegations have been strenuously denied by 777 Partners.
777 has investment in several teams in football, either outright or a majority stake, including Genoa and Sevilla. Belgian side Standard Liege recently protested the group’s ownership with banners reading, “No money, no ambition”.
Brutal criticism, but the source “insists” the group has the financial firepower to facilitate the deal, which may give Toffees fans solace regarding the move.
In the meantime, all focus will be on the pitch. The Toffees have made a poor start to the Premier League campaign, and 777 will be keeping a nervy eye on proceedings.
In other Everton news, a BBC journalist has mooted a rejuvenated career for one Toffees loanee after his “no-brainer” Goodison Park exit.