Everton takeover: ‘Baffling’ update on 777 Partners emerges amid ‘potentially catastrophic’ warning
It is “baffling” that 777 Partners are in a position to take on a club as big and problematic as Everton when they haven’t established a track record of success at their other clubs, according to Jonathan Johnson.
The France-based CBS journalist said on the Caught Offside Debrief Mailbag on 23 October that the American firm haven’t “covered themselves in glory” with Red Star in Paris and there is little optimism at their other clubs across Europe that they have the know-how to rescue the Toffees.
He warned that it would be “potentially catastrophic” for Everton to fall out of the Premier League, and expressed doubt that the prospective new owners have proven they have the money or the vision to prevent it from happening.
Johnson said (2.24pm): “777 are fascinating. They have been for the last couple of years because their rise to prominence and having a say in a number of European clubs has been very overnight in how it’s come through.
“One thing that’s emerged as recurring theme in all of that is how a lot of the time the deals that put them into power often get forced through.
“Speaking in my own back yard in France they’ve got Red Star who are currently top of the semi-professional third tier… so things look good to finally move back up to the fully-professional second tier, but that deal itself got forced through in the face of quite significant fan opposition.
“Since then it’s been well documented that there are big question marks, not only over 777’s finances but also just the way they handle the clubs and run them…
“It’s baffling in many ways that they’re linked with such a problematic Premier League club that would take a lot to turn around, not just in terms of financial resources but the expertise, the project, the vision that would be needed, not just to put Everton in a better place but to actually keep them from falling out of the Premier League.
“Regardless of who was owning the club at that time if they were to fall out of the division this season it could be potentially catastrophic.
“I wouldn’t say that they’ve covered themselves in glory in France so far but there is a feeling generally across Europe… that there hasn’t been enough of a track record established to really feel optimistic that they could turn around a club that’s in as much turmoil as Everton.”
Work in progress
You can hardly fault 777 for ambition but that’s no good for the Toffees, or indeed any of the other clubs such as Hertha Berlin or Standard Liege which they control, when their futures are on the line.
Learning on the job works in some fields but football club ownership probably isn’t one of them, so if the view from places where they have already taken over is that they wouldn’t be able to handle the situation at Goodison it is obviously concerning.
It doesn’t necessarily guarantee that they can’t or won’t sort out the problems that the Farhad Moshiri era have created, but some optimism is something fans are long overdue.
And unfortunately for the fanbase it appears that it is either 777 or Moshiri at the moment so if it is baffling that it has come down to the Americans it is debatable whether the status quo would be preferable.
Despite the latest questions related to the supposed failure to provide documentation to the Financial Conduct Authority on time Johnson’s CBS colleague Ben Jacobs still expects the takeover to happen.
It may not end up being pretty but there will be plenty who just want to get the deal over with and start dealing with the consequences now, with Moshiri apparently a spent force at Goodison Park.
In other Everton news, the Toffees have got their eye on a surprise swoop for a free agent nobody expected to become available.