Dramatic 777 twist as partnership ended ahead of Everton takeover
There has been a dramatic twist at 777 Partners ahead of their potential takeover of Everton as a top Biritish-based sports agency cut ties with the firm, according to the Daily Mail.
The newspaper reported on its website on Wednesday (20 December) that the Miami-based investment firm is facing fresh questions after sports agency Redstrike dramatically cut ties with 777 over a breakdown in their business relationship.
Redstrike were one of 777’s leading UK partners, but have ended a joint venture that was founded only a year ago, which has cast further doubt over the American firm’s business dealings as they continue to await approval from the Premier League.
The Premier League, the financial conduct authority and the FA are all investigating the firm as part of the takeover process to ensure that they are fit and proper owners for Everton, but this latest business breakdown could harm 777’s chances of being approved.
There had been hopes that the deal would be completed by now, but the Premier League have suggested that they are still a way away from completing their due diligence into 777 Partners.
More worrying news
It feels like very few stories have emerged about 777 Partners that have painted the American firm in a positive light since it was announced that they had agreed on a deal to acquire Farhad Moshiri’s 94.1 per cent stake in the Toffees.
Nearly every headline written about the company seems to have some sort of potentially worrying implication for Everton supporters and fans in and around Goodison Park must now be praying that something stops this takeover from being completed.
Moshiri has been far from the perfect owner during his tenure on Merseyside and under his ownership Everton have appeared to be continuously moving backwards, but little has been revealed about 777 Partners to suggest that they are a better alternative.
This latest business breakdown with Redstrike is just another mark on a long list of reasons why these new owners don’t appear to be suitable to acquire Everton.
Hopefully, the Premier League won’t ignore these consistent financial failings and will put a stop to this takeover before it even gets properly started.
In other Everton news, a “phenomenal” forward linked with a January switch to Goodison Park has already made a decision surrounding his future