Everton takeover twist as Finance Expert Kieran Maguire issues verdict
Finance expert Kieran Maguire has issued his verdict on the 777 Partners-Everton takeover saga which has taken yet another twist.
Josimar reported on 16 February that documents have been revealed showing just how dicey things are at the Miami-based firm and the fact that they desperately need the takeover to go ahead.
This is undoubtedly not ideal news for the Toffees as it’s said that 777 Partners need the club more than the club needs them.
Reacting to this on Twitter, Maguire wrote: “Top sleuthing by Philippe Auclair and @pbsportswriter into the background of 777 Partners and their attempt to buy Everton. Unpleasant reading for Toffees, but essential all the same.”
Everton may be doomed with the 777 Partners takeover
The involvement of A-CAP, a New York-based risk solution provider with alleged ties to fraudulent activities, in financing the acquisition raises red flags about the legitimacy and stability of the deal.
Their involvement, along with the reported liquidity crisis facing 777 Partners and its subsidiary companies, suggests that Everton could become entangled in a web of financial instability and uncertainty.
Furthermore, the extensive debt burden already incurred by the Toffees through loans from 777 Partners, secured by questionable means, could exacerbate the club’s financial woes.
The reliance on further loans and equity sales to cover financing needs indicates a precarious financial situation that could jeopardise Everton’s long-term viability and stability.
Additionally, ongoing investigations by US regulators into A-CAP and its insurance companies, as well as the potential for regulatory action against 777 Partners, add further complexity and risk to the proposed takeover.
It also seems that the Miami-based firm have not been entirely honest so fans have a valid reason to be sceptical about them.
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