777 developments ‘eye-watering’ as Everton takeover could unravel very quickly
Tariq Panja has been left stunned by “eye-watering” developments at 777 Partners ahead of their proposed Everton takeover, suggesting it could unravel.
The New York Times journalist took to Twitter on Friday (10 November) to offer his verdict on the American investment firm’s decision to divest investments, which could see 777 realise “major losses.”
Reports emerged on Thursday (The Esk, 9 November) that 777 Partners may be forced to sell assets or find fresh sources of capital to complete the “impossible” task of squaring Everton’s investment with their current resources.
Panja has suggested that things “could unravel very quickly” with the high-interest rate model being an incredibly risky strategy and “dangerous business model.” However, 777 Partners’ PR team are continuing to suggest that they are more than capable of running and finding the Toffees.
Worrying stuff
777 Partners are incredibly keen to suggest that everything is going as hoped in their Everton takeover attempt with the Miami-based firm hoping to take control of the Goodison Park club before the end of 2023, having submitted all relevant documents to the Financial Conduct Authority.
However, it doesn’t seem that things are as clear as they have suggested, with more and more journalists suggesting that this deal hangs completely in the balance due to the seemingly uncertain financial state 777.
Everton supporters have been pining for an end to Farhad Moshiri’s ownership, given the seeming regression under the current Toffees’ owner in recent years, but you have to wonder whether or not 777 Partners truly are a better option for the Blues.
With every extra piece of information revealed about the American company, it feels as though they are not at all equipped to run Everton. Should things “unravel” as suggested by Panja it could be dangerous for not only Everton but the other clubs under the 777 umbrella.
Everton supporters will have to wait and see whether this takeover will even be approved and then could well be forced to watch anxiously to see how a potential new era may unfold.
In other Everton news, sources close to 777 Partners’ takeover have suggested that the deal should be completed before 2024