777 Partners have surely left Everton fans in meltdown after more new takeover concerns arise
Prospective new Everton owners 777 Partners have surely left Goodison Park fans in meltdown after a set of fresh developments this week.
Sports business news outlet Bloomberg shared on 7 December that the American investment firm are forecasting £100m-plus in losses across its eight football teams including Everton.
The FA and the Premier League are still in the process of undergoing checks regarding 777 Partners as the latter will have the final say over any new decisions.
Another twist in the long tale of this forthcoming purchase has raised further confusion about the ongoing process and whether or not the group will be allowed to complete their takeover at Goodison Park.
It seems the problems concerning 777 Partners are ramping up with every passing week making their prospective takeover at the club littered with several issues and such news isn’t helped when the club are dealing with a ten-point deduction from the Premier League.
Fans expecting and anxiously anticipating a new dawn on the blue half of Merseyside will now be left with a sour taste in their mouths given what’s been reported.
When a club is embroiled in such financial issues as the Toffees and undergoing a potential new takeover, they simply cannot get away from it but the number of issues that emerge within 777 Partners makes their takeover a bit tainted.
Questions and doubts will certainly be arising within the Toffees fanbase over whether they are the best candidates to take the club forward in the long term.
£194 million in losses across their eight clubs screams of incompetence and lack of strategic planning, and Everton already have years of that under Farhad Moshiri.
Norwegian magazine Josimar reported on 7 December that sources close to the takeover process now believe it is “unlikely” that 777 Partners will be able to complete the deal.
The buy-out, which has “dragged on for weeks” and “according to conservative estimates” could end up topping £750million, is not expected to go through.
The Toffees’ prospective new owners have reportedly been unable to provide the Financial Conduct Authority audited accounts as requested. Yet another development which screams of lack of preparation and incompetence from the Americans.
777 Partners are expected to lead the club into a brand new era and clean the mess left behind by Moshiri but it seems they can’t even keep their own house in order.
It’s also believed that there are “growing concerns” that 777 are set to be rejected by the Premier League (Josimar, 7 December) with fears inside the firm that they are set to become the first ever to publicly fail to pass the Premier League’s newly “beefed up” test leaving fans in a total meltdown.
The Everton fans are very much desperate to see the back of their majority shareholder right now but 777 Partners aren’t giving off the vibe that they are capable and dependable replacements. A worrying spate of updates.
In other Everton news, one journalist is confident of an end to the ownership ‘crisis’ in the New Year.