Everton: 777 CFO resigns as takeover announcement due, business may now be complicated
The chief financial officer of 777 Partners has resigned just as the company’s attempts to buy Everton appear to be coming to a head, according to Semafor Business.
Liz Hoffman reported via the outlet’s website on 16 February that Damien Alfalla has departed as CFO of the US-based firm, to be replaced by Brett Kaufmann.
The move comes as 777 have been keeping the Toffees afloat with millions in loans as their ongoing attempt to buy out Farhad Moshiri awaits approval from authorities, having originally agreed a deal in September.
With the company reportedly having to sell assets to fund Everton amid various suggestions of difficulties within their business portfolio Hoffman suggests Alfalla has had a “tough job” in trying to keep the “cash burning” and “deal making” operation running, while his replacement by an outsider is mooted to potentially “complicate 777’s ability to keep its money machine spinning”.
CFO resigns at 777 Partners with Everton takeover bid pending
With Everton reportedly set to learn the outcome of the takeover bid before the end of the month and the FA said to have already agreed to let it go ahead [Telegraph, 15 February] the timing of this move looks fairly significant.
If Josh Wander and company are on the brink of taking over it doesn’t seem overly helpful for such a key man in the operation to have departed just before it finally happens.
There have been numerous reports over recent months alleging financial issues within their portfolio, including at other football clubs.
So for the figure supposedly at the head of keeping all the plates spinning to apparently be jumping ship is bound to be viewed with some concern by those who maintain that 777 are not the right owners for Everton.
The company has maintained publicly throughout that they expected to complete the takeover, so clearly if that is about to happen it would be a notable win for them in the face of strong doubts, and the departure of Alfalla may be entirely coincidental.
Either way the hope among the Toffees fanbase will have to be that a major change at this stage doesn’t compromise the proposed running of the club if and when it begins.
In other Everton news, Jamie Carragher has demanded answers over the delay in the club’s points deduction appeal verdict.
For more Everton news, follow us on Facebook or join our brand new WhatsApp Channel for instant updates to be sent straight to your phone.