New Year timeframe emerges for 777 Partners takeover of Everton - Finance Expert
We’re delighted to welcome football finance expert Dr Daniel Plumley as our exclusive columnist. Each week he’ll be giving his views on the biggest talking points at Everton
Dan Plumley has insisted that layers of complexity were always going to be added to 777 Partners’ proposed takeover of Everton given the financial issues.
The Times reported on 04 November that scrutiny of the takeover plans were set to take 12 weeks, and were at the halfway stage at the time of writing.
Josh Wander and Steve Pasko have been given the green light to become directors if all goes ahead, but the finances, stadium and backstory are making things difficult.
“When you see a takeover deal that is done in principle, sometimes people expect it to take a couple of days or weeks,” he exclusively told Goodison News.
“It never plays out like that. There are so many further checks and due diligence, things that need to be rubber-stamped behind the scenes, so this was always likely to be into the New Year.
“That stacks up with what is going on, it’s completely normal, that is a point to say, it’s not that there is anything necessarily untoward and going wrong there.
“There are just certain stages of a takeover that need to be done in a certain way, and as we said, a fair few hurdles that need to be completed and with a case as tricky as Everton, given the finances, stadium and backstory, it adds layers of complexity to an already complex situation.
“It’s stacking against the usual time frame, but the New Year is the target now.”
In other Everton news, new Bramley Moore Dock concerns could lead to added costs for the Toffees