777 Partners accused of ‘Predatory’ conduct as Everton takeover on brink of collapse
777 Partners have been accused of “predatory conduct” in court as their protracted takeover of Everton is now on the brink of collapse, report Josimar.
The Miami-based investment firm have been accused of targeting brain-damaged individuals who were making concussion claims against the NFL, with them offering an advance to claimants in return for a percentage of future earnings.
777 have agreed a £550m deal with Farhad Moshiri to buy Everton, but the deal is said to be on the verge of collapse as question marks have been raised about how they can afford the deal by the Premier League and FCA.
“777 Partners, which is currently trying to add Everton to its multi-cub portfolio, owned and operated companies which were accused in court of “predatory conduct” for targeting brain-damaged former American football players making concussion claims against the NFL,” they wrote.
“The scheme, which Josimar has been told was the brainchild of managing partner Josh Wander, involved advancing money to victims in return for a percentage of any future settlement.
“But contracts signed by 777 companies with claimants were subsequently voided in 2017 by a judge who ruled they broke strict regulations governing the official NFL Concussion Settlement, amid concerns expressed by lawyers that they could lead to retired players being ripped off.”
Nasty
Everton fans have had huge question marks against 777 Partners ever since the club were linked with being in talks with them, and the worst fears are now seemingly coming to light.
777 Partners are being accused of some nasty things, and the way they have been dealing with their other clubs like Sevilla should raise major concerns across the board for Toffees fans.
It’s clear that Moshiri doesn’t care anymore and just wants to sell to the highest bidder with his own interests right at the front of things, but that isn’t going to fly now.
The Premier League and FCA are keen to ensure that Everton aren’t plunged into further trouble once this deal goes through, and fans are right to be questioning things too.
It now seems like a matter of when and not if this deal collapses with so many questions left unanswered, and Everton will have to go on waiting for someone to come in and save the club at this point.
In other Everton news, paperwork update emerges as 777 takeover on verge of collapse.