Everton: Kieran Maguire shares admission on 777 Partners as more worrying news emerges
Kieran Maguire has shared an admission on Everton after it has emerged that 777 Partners have been accused of missing another payment.
The Daily Mail reported on Wednesday (4 October) that the US investment firm transferred £130,000 of an £800,000 payment to the British Basketball League – one of its other partners – on Friday (29 September).
Speaking on The Price of Football podcast on Thursday (5 October, 01:01:03), the football finance expert said it’s “not a positive story” and that the situation “doesn’t look good” as the group looks to complete a takeover at Goodison Park.
“It’s not a positive story,” said Maguire. “So you look at this drip, drip, drip and, yes, 777 have spoken to a supporters’ group and fans have said ‘well, they speak very well’.
“But they would do, wouldn’t they? They are hardly going to say ‘we’re skint, but we’re trying to buy your club on borrowed funds and borrowed time’.
“So it doesn’t look good, but they appear to be the only hat in the ring and, therefore, you can understand why some Everton fans are saying the alternative doesn’t look great.”
Worrying
This is yet another worrying development to come out about 777 Partners to add to the catalogue that has already been publicised over the past few weeks.
The company clearly has some financing issues, so it’s unclear how on earth it would be able to afford to buy Everton and then complete the new stadium.
The Toffees are already facing significant financial problems following years of mismanagement in that department under Farhad Moshiri and the last thing they need is for that situation to get any worse.
One of the most eye-opening things about this latest piece of news coming out on the group is that it’s such a small payment in the grand scheme of things.
Surely the Premier League are going to be following this situation extremely closely and is unlikely to sanction the takeover if it doesn’t believe the company has the funds to run things smoothly on Merseyside.
In other Everton news, Simon Jordan and Jim White clashed live on air as a Blues relegation verdict was shared.