Neville Southall issues ‘odds and ends’ verdict on 777 Partners takeover at Everton
Neville Southall claims that there should be a “queue of people” vying to buy Everton following 777 Partners’ prospective takeover of the club.
Speaking to the Liverpool Echo (26 September), the Toffees legend pointed to the club’s vast history and brand potential as a key factor to motivate buyers, claiming Everton could become a Champions League outfit with the correct investment and owner.
777 Partners agreed to a deal with Farhad Moshiri for his 94.1% stake in the club, with Southall suggesting the group is an “odds and end”.
Southall said: “I don’t understand with the club, its history, with the successes it’s had in the past, the fanbase that we’ve got, why there’s not a queue of people lining up to buy Everton. Why are there only odds and ends coming out?
“Yes the team needs money pumping into it and everyone knows that but if you look at Everton as an overall brand with the new stadium, for me as an investor I’d be going ‘wow’ if we can get this right on the pitch, that club is going to fly, it could be Champions League.
“All you’ve got to do now is get a team to match the ground because they’ll always make money once they make the move. For me, it isn’t ‘who is coming in as an investor?’ It’s why there aren’t more of them queueing up to take advantage of a potentially great opportunity.
“I can only come to two assumptions from all of that. Either I’m seeing something that nobody else can or we’re really bad at marketing the club.”
Risky
Southall is spot on with his assessment of Everton’s potential, but the continued financial struggles and the state of the club’s assets make them a risky investment.
The Toffees have all the right things to become an established European side once again. The upcoming Bramley-Moore Dock stadium, set to open next year, certainly looks like a venue where Champions League football would not look out of place, while Everton’s huge fanbase would have no issue filling its over 52,000 capacity.
European qualification is certainly not out of the realms of possibility for the club considering their recent stint in the Europa League in the 2017/18 season.
However, potential can only motivate buyers so much, and the continuing issues at Goodison Park are there for all to see. The Daily Mail reported (23 September) that 777’s £20million loan to the Toffees would not be enough to cover the club’s financial losses to the end of the year, while currently being “weighed down” by £400million worth of debt.
The club also has very few high-value assets, with many of the playing staff deemed not fit for purpose for Everton’s overall aims. Very few players have any notable resale value, while many of their best players, including Abdoulaye Doucoure and James Tarkowski, are ageing assets.
Significant investment would be needed to achieve what Southall thinks the club can, and what he is “seeing” is certainly there, but it would take a brave investor to make it a reality.
In other Everton news, finance expert Kieran Maguire has said the loan from 777 will bring the Toffees security