Everton: Premier League left with ‘no alternative’ as 777 Partners twist emerges
The Esk has insisted that the Premier League will be left with no alternative but to reject the 777 Partners takeover bid, in more potential bad news at Everton.
The Everton news source questioned via his X account on 18 February how the group would be able to fund the club when its principal source of income has to divest its affiliated assets.
This verdict emerged after AM Best [18 February] announced that they had downgraded the credit rating of 777 Partners’ main source of funds, as they ruled that the company’s balance sheet strength was “very weak.”
When will 777 complete their Everton takeover?
At this stage, the Premier League’s owners and directors test regarding the takeover has been dragging on for longer than anybody had expected. Richard Masters previously explained that this was down to 777 not having provided all of the information asked of them.
However, more concerns have since arisen surrounding the group’s other ventures, including their other football clubs across Europe, leaving Everton in an uncertain situation.
The report from AM Best detailed that the credit rating will remain under review with negative implications. as they work with the Bermuda Monetary Authority, with 777 now attempting to reposition its asset portfolio.
This has emerged as the latest piece of bad news concerning the Everton takeover as we await the verdict of their points-deduction appeal in a period of real uncertainty at Goodison Park.
In other Everton news, a BBC pundit has raged at what one loanee did today.
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