Everton: Takeover named as New York lawsuit emerges on 777 Partners
Everton were brought up in a New York lawsuit against 777 Partners as the ongoing takeover talks saw questions about the group’s financial stability raised, according to Bloomberg.
The American finance news outlet reported on 7 March that Obra Capital, a creditor, used the takeover in their argument to prove the group have avoided paying debts.
It was said that, having previously kept a low profile financially, 777’s spending spree on Everton and their other football clubs raised questions about the source of their funding.
How can this 777 Partners lawsuit affect Everton?
Yet again, the constant stream of negative stories surrounding 777 will raise concerns about their suitability to complete their takeover of Everton, and will be doing no favours to the ongoing owners and directors checks from the Premier League.
Several of the other 777-owned clubs have held protests during games, separate lawsuits against the club have been ongoing since takeover talks began, and issues surrounding the source of their funding, are just three concerns surrounding the group.
Given the number of concerns and serious nature of them, as well as the length of time taken by the Premier League to make a decision about the takeover, it seems clear that the group are not fit to own Everton.
With a fresh lawsuit kicking off in New York, it’s difficult to imagine the Premier League would see that situation unfolding and still decide they are fit to take over one of its clubs, with this news coming at the worst time for 777.
In other Everton news, 777 have reacted to the latest concern at Goodison Park.
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