Long-term play likely with Everton takeover after state fund suggestion – Finance Guru
We’re delighted to welcome football finance expert Dr Daniel Plumley as our exclusive columnist. Each week he’ll be giving his views on the biggest talking points at Everton
Dan Plumley has insisted that 777 Partners can turn Everton and their finances around, and it doesn’t have to be a sovereign state wealth fund at play.
It comes after Martin Samuel suggested that the club are now stuck with 777 Partners, with oil-rich states mentioned such as Oman to deal with the losses at play.
The finance expert admitted that 777 will have a long-term play in mind to turn things around at Goodison Park with many challenges along the way.
“I don’t necessarily subscribe to that view that it’s that kind of state takeover that could turn them around,” he exclusively told Goodison News.
“If you look at what 777 are as an investment firm, I’ve said this before, those firms get into markets and businesses to make a return on investment further down the line, it’s just a longer-term position on things.
“I think there is an argument that a firm like that can turn a football club around, but it’s a long-term play and there are a lot of challenges still within Everton’s finances that they need to be aware of.
“Also, crucially, the fans have to be aware of that model as well, that they are potentially in it for a return on investment and that can create tensions in the system, but they can be turned around by that kind of ownership structure.
“I don’t agree that it has to be a sovereign state wealth fund to really turn a club around, you can do it over time, it’s just a different strategy.”
In other Everton news, Bramley Moore Dock concerns could lead to added costs for the Toffees