Kieran Maguire shares new worry about ‘incompetent’ 777 takeover of Everton
Kieran Maguire has shared new concerns surrounding the competence of 777 Partners amid ongoing questions about their potential takeover of Everton.
The finance expert claimed that the history and legacy of 777 is not a good sign for Everton, with the noise surrounding their own issues becoming difficult to ignore.
Maguire also shared his view that the concerns surrounding the financial situation both at the club and of 777 Partners point towards further issues as to how they will fund or afford the full takeover and all that comes with it.
Maguire was speaking on The Ripple Effect podcast with James Lawrence Allcott on 1 November when he shared the concerns he has surrounding 777 and the number of issues with their potential takeover.
“If you’re looking for red flags in any business form you would look at the history and the legacy of the people that are about to buy an institution,” he said, “And when it comes to the owners of 777 Partners, first of all, they’ve been very vague as to where their money has come from.
“What concerns me in relation to Everton’s [potential] owners is that there’s too much noise.
“They have an investment in British Basketball and we’re probably talking about seven or eight thousand pounds was due to be paid across, and that money was not paid on time.
“If those issues are arising, it’s either due to incompetence i.e. they forgot to pay the bill, or it’s indicative of an institution which is spinning plates and it’s trying to stop them from toppling over.
“If you’re going to inherit financial commitments running into many hundreds of millions of pounds in first of all the operational losses of Everton which are significant on a year-by-year basis, and secondly the Bramley-Moore Dock project, how’s that going to be funded? You do worry.”
Concerns will not go away
Accusations of incompetence, albeit played down by suggestions that they may simply be overworking their situation given the number of investments they have currently going on, are never a good sign in the lead-up to a potential takeover.
Maguire’s concerns come largely from the stack of issues that continues to pile up, with concerns around 777 Partners’ eligibility to become the owners of a Premier League club increasingly under the spotlight.
The consistent reports about wrongdoings elsewhere, whether they involve their several other investments, or legal claims that are being disputed in America, do not lay the groundwork for a stable and confident owner coming into Everton.
These concerns will continue to arise until they are addressed directly, but the continued assessment of 777 by the Premier League and independent panels ahead of the potential takeover will make their call on the eligibility.
In other Everton news, a new update has emerged on Jordan Pickford.