Everton takeover: 777 Partners respond as legitimate proof of funds worry emerges
777 Partners have responded to claims from the Premier League that they haven’t received answers to some questions regarding their prospective takeover of Everton.
Writing on their website (17 January), The Telegraph report that the Miami-based investors are still confident that a takeover will be completed before the end of the month.
But after Richard Masters claimed the Premier League haven’t received all the answers they require to green-light the deal, 777 say that all questions have been answered in full now.
“Telegraph Sport has been told that there were legitimate questions raised before Christmas on proof of source of funds and adequacy of capital to fund the business plan over three years,” they wrote.
“But, according to 777, they have since been answered in full.”
Get on with it
Everton have been left in a huge hole by this whole process, with Farhad Moshiri checking out now and the club being left to hope that 777 get a deal green-lighted even though there are huge questions about if they’re good enough.
There are massive issues with their finance models, and we’ve seen big issues at other clubs that they own with the likes of Standard Liege not being able to pay wages and Sevilla struggling massively financially also.
It’s certainly not the ideal process and news heading into talks for them to buy a new club, and it’s right that the Premier League are questioning them vigorously because Everton can’t be allowed to be run badly again.
But it’s been a long time coming since this deal was announced by Farhad Moshiri and there has seemingly been no movement at this point, which is really worrying.
Whether it’s good or bad news for 777, Everton need to be told quickly what is happening so alternative plans can be made if the answer is a no to the prospective buyers or administration clearly becomes a very real possibility.
In other Everton news, 777 share when they expect takeover to go through after major Premier League update.
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