777 Partners concerns arise at Everton after FIFA ban, late payments and unusual loans
Concerns surrounding the takeover of Everton by 777 Partners have arisen again after recent developments surrounding 777-owned Vasco da Gama, according to City A.M.
The financial news outlet reported on 20 December that fans of the Brazilian club have lost confidence in the group after they were handed a FIFA transfer ban amid late payments and “unusual” loans.
The report continued by claiming Everton fans should use Vasco da Gama as a case study into what 777’s ownership could look like, as concerns continue to arise at Goodison Park.
Reasons to be worried
The report shared that a loan of £3.9million was taken out from Vasco da Gama to F3EA Holding, which is a lender also owned by 777, and was strongly condemned by Vasco members at a meeting in the middle of the year, with the president of the advisory committees labelling it an “abuse of power”.
FIFA handed the Brazillian club a transfer ban after failure to pay money owed to clubs after three signings were made, and 777 also failed to meet a deadline to pay an instalment of £19.4million as part of their takeover deal.
With questions ongoing during the Premier League’s owners and directors test, largely regarding the source and stability of the group’s financing, there is no doubt these issues will be causing further concern to the governing bodies in charge of approving the takeover.
If Everton fans are to take this as a warning about what their future could look like under 777, it provides a bleak outlook shrouded by mystery and cover-ups, with these just the latest of a number of concerns surrounding the deal.
In other Everton news, one ace could quit in January with serious talks held already.