Everton facing ‘severe consequences’ as ‘significant’ 777 Partners twist emerges, deal could collapse
777 Partners has suffered yet another setback in its plans to take over Everton due to failing to provide audited financial statements to a British government regulator, according to the New York Times.
The reputable American publication reported on its online edition on Wednesday (18 October) that the proposed sale “could fall apart” if the Miami-based holding company fails to provide the requested financials or an acceptable explanation.
The news comes on the back of Philippe Auclair and Paul Brown reporting on Tuesday (17 October) that 777 missed payroll to their own staff in July and failed to pay rent for their own HQ.
The report by the New York Times adds that “the missing documents are the most significant complication to date” in 777’s proposed takeover, while “a failure to close the deal could have severe consequences for the financial viability of Everton”.
Here we go again
This is yet another in a series of setbacks 777 has faced since it first emerged the Americans planned to buy out Farhad Moshiri.
While the news was initially welcomed, it has since become clear that Everton’s knights in shining armour are not all that they seem.
With each passing week there has been a new negative development, with this arguably the most concerning yet.
777 chief Josh Wander has been constantly putting out fires, but there is no running away from the government regulator.
Quite simply, they need to supply the documents that have been requested or else, if this report is anything to go by, the deal is off.
That really is the last thing Everton need right now. Without being overly dramatic, it could prove disastrous if a deal collapsed at this stage.
Assuming there is nobody else waiting in the wings, Everton desperately need 777 to keep the wheels spinning by supplying these documents.
In other Everton news, the Toffees reportedly asked a player not to link up with his country earlier this season.