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Everton takeover news as David Ornstein shares 777 Partners ‘continuous dialogue’ plans
777 Partners plans to maintain a “continuous dialogue” with Everton after handing the club a “sizeable loan,” according to David Ornstein.
The journalist reported for The Athletic on Monday (18 September) that the club’s prospective new owners have made a payment to the Toffees worth tens of millions.
As per the official Everton website (15 September), the US investment firm has agreed to acquire Farhad Moshiri’s full stake in the club.
“The U.S.-based vehicle intends to maintain a continuous dialogue with Everton while waiting to learn if its acquisition will be allowed to proceed,” Ornstein wrote for The Athletic.
“This is likely to involve 777 providing some expertise from its multi-club model to Everton and occupying an observer role on the board of directors.
“On behalf of 777, Everton have communicated to their fan advisory board and shareholders association that the prospective new owners will meet and engage with them and the wider fanbase.”
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Interesting times
Things are moving rather quickly behind the scenes at Everton, who are in desperate need of the loan as things stand.
Their financial struggles are pretty obvious, with those issues leading to desperate times on the pitch in recent seasons.
Sean Dyche was brought in to help firstly steady the ship and eventually turn things around, but it looks like it will take plenty of time for the manager to achieve those goals. The goals could, however, be helped massively by this potential loan from the club’s new prospective partners.
It’s definitely an interesting time to be an Everton supporter to say the least, with fans set to be in for a roller-coaster journey over the next couple of years.
One downside for Toffees fans from Ornstein’s news is that the loan will be used to help with short-term working capital requirements and the Bramley-Moore Dock stadium build, and not on bringing new players to the club.
In other Everton news, one pundit has slammed the Toffees live on talkSPORT as an “absolute mess” claim is made.