Journalist does not expect 777 Partners to gain control of Everton despite Farhad Moshiri deal agreement
Journalist The Esk has revealed that he does not expect 777 Partners to gain control of Everton despite a deal being agreed for a takeover.
The club announced last week that Farhad Moshiri and the Miami-based investment firm had reached an agreement for his 94.1% shares in the club, with a sale expected to be completed in the final quarter of 2023.
But The Esk, a finance journalist and lifelong Everton fan, believes the deal won’t go through as 777 Partners don’t have the funds to complete the deal and believes there are no assets left to leverage for them at Everton.
“There’s nothing left to leverage against,” he wrote in response to a fan on his personal Twitter account (19 September).
“Maybe the stadium when completed, but currently everything is mortgaged to the hilt.
“I don’t expect 777 to gain control of Everton.”
Crazy
This is some rollercoaster and just sums up how badly this club have been run into the ground in recent years.
Moshiri spent a lot of money as owner, but it all has gone down the drain and now we are facing the consequences as we simply cannot afford to be in the hole we’re in.
A new stadium that still needs to be paid for, plus FFP restraints mean that we can’t afford to make the investments we need on the pitch to stay in the Premier League and the club is just in a sorry state.
777 Partners seem to be on the bad end of the scale of prospective owners, so even their arrival wouldn’t really help the situation and things look bleak right now unless someone else can step in and save us.
It’s not looking good and with a deal now seemingly not expected to go through at all, it’s back to square one for everyone involved.
In other Everton news, journalist calls out David Ornstein for “sizeable” comments after 777 loan emerges.