Everton: Fresh questions emerge on 777 Partners funding for takeover
Fresh questions have emerged surrounding 777 Partners’ ability to fund their takeover of Everton after a call was made regarding the London Lions women’s basketball team, according to Matt Slater.
The Athletic journalist reported on 7 March that 777 have pulled the team out of contention for European competitions despite their recent success in the EuroCup this campaign.
The news outlet reports that this decision, which has been labelled “hugely disappointing”, has not come as a complete shock due to the negative reports surrounding the group’s financial position.
Do 777 Partners have the funds to take over at Everton?
Questions have been circling 777 Partners’ financial situation since the takeover was agreed, but they found new life after AM Best downgraded the credit rating of one of the group’s main funders, resulting in questions about the source of their money.
As a result of those financial updates, author Martin Calladine went as far as to suggest that 777 could “destroy” Everton if the Premier League give the all-clear to their takeover bid, with the owners and directors test ongoing.
However, they have been providing regular loans to the club to help with day-to-day running costs, with those loans reportedly totalling almost £200million. That would suggest that the money is in their hands to put into the club.
With the Premier League still delaying any decision about whether or not the takeover will be allowed, more concerns appear to emerge every day, with fans now left nervous about the future with or without 777 in it.
In other Everton news, Jordan Pickford shared a points deduction claim live on talkSPORT.
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