Everton takeover news as oil-rich state verdict shared before 777 Partners news
Everton have “probably” exhausted their enquiries to be taken over by an oil-rich state, according to Martin Samuel.
The Times journalist reported on Monday (18 September) that the prospects of the Toffees being taken over by ownership similar to Newcastle or Manchester City is incredibly unlikely and that is why 777 Partners look set to take over the Goodison club.
With losses north of £400million alongside the construction of a new £500million stadium partnered with a potential points deduction and a team hovering around the relegation zone, there are very few people who would be willing to take such a financial chance on buying the Toffees.
777 Partners aren’t the most loved owners of other clubs in the world, as Samuel wrote: “Everton fans were posting photographs at the weekend from another 777 club, Hertha Berlin, where the owners rival only Moshiri and Kenwright for popularity with the locals.”
There are few better words to sum up the current state of Everton both off and on the pitch than exhausted. The fans are exhausted with the current owners and performances and the the Toffees have exhausted all their options of a mega takeover in the style of Newcastle.
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Every club, financially rather than morally, dreams of being taken over by an oil-rich state and having the transformation from relegation-threatened minnows to Premier League and Champions League winners like Man City, but Everton are in such a state that no one will believe that is viable.
So much needs to be done financially just to get the Toffees secure in the Premier League once again, let alone challenging for Europe or even titles and a club like Newcastle who doesn’t have existing debt will always be a more enticing choice for an oil-rich owner.
777 Partners’ work elsewhere in the world does paint a bleak picture of what could be expected under their ownership should the takeover be completed, but the truth of Everton’s situation is that they have very few alternatives now available to them.
Time will tell if the Toffees should have held out for a potential oil-rich owner, but with none currently on the horizon, Everton cannot afford to sit on their hands and wait when Farhad Moshiri is seemingly running the club into ruin.