Premier League update as sources share 777 Partners takeover verdict at Everton
Sources have shared that a “lack of clarity and transparency” of the financial situation of 777 Partners has made the Premier League reluctant to greenlight the purchase of Everton, according to Josimar Football.
The investigative journalism website reported [19 February] that AM Best, a leading provider of credit ratings, has slashed the rating of 777e, one of 777 Partners’ main sources of finances, from fair all the way to very weak.
It is understood that this is one of the “key reasons” behind the Premier League’s reluctance to confirm the purchase of the Merseyside club, with more doubts being cast over the situation.
Everton begin to sweat over 777 Partners’ takeover
With Everton’s new stadium nearing its finished product, Toffees fans will be worried about the most recent update regarding the takeover of the club. A lot of money has already been invested, but that could all be about to crumble.
The Toffees have already been smacked with a 10-point deduction this season, meaning that the club are currently sitting in the Premier League relegation zone, one point below Luton Town.
All signs currently point towards a negative outcome for the Toffees. It is a scary time to be a supporter, with the takeover confusion and the threat of relegation all rolled into the same few months.
The newest update will raise another set of red flags, hence the Premier League’s concerning reaction. This is in addition to the news that 777 companies have had to begin sudden budget and staff cuts, which has only thrown more worry into the equation.
In other Everton news, Robbie Savage made a new relegation prediction after Luton were beaten by Manchester United.
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