Everton: Kieran Maguire shares 777 Partners takeover update amid new problems
Kieran Maguire has shared another new update on 777 Partners’ takeover of Everton after yet another concern emerged at Goodison Park with new problems arising.
The football finance expert insisted he has sympathy for the Premier League with the decision now in their hands, as they are caught between a rock and a hard place in terms of the takeover.
He also questioned what would happen to the £180million loan the group have provided should the takeover not receive approval, referring to it as a “poison pill”.
This comes following reports that 777 are involved in yet another lawsuit in New York. [Bloomberg, 7 March]
Speaking on The Price Of Football podcast [14 March], Maguire shared: “Where do you start? They’ve been described as a crumbling house of cards. This is one of the many ongoing issues surrounding 777.
“Again, the Premier League does not conduct itself perfectly at times, but you do have to give a degree of sympathy here. They’re between the devil and the deep blue sea when it comes to approval or non-approval of 777 as the custodians of Everton Football Club.
“I don’t think 777 see it as the same responsibility as Evertonians do, that’s part of the problem.
“The problems that we have are that Farhad Moshiri has agreed to sell the shares, and ultimately Everton Football Club is a private company, so the Premier League’s role is restricted.
“777 have created a poison pill by lending £180million to Everton – what’s going to happen to that if the deal doesn’t go through?
“There are so many unknowns. Moshiri has gone completely off the radar, he’s walked away from his responsibilities and he should be communicating to fans, even if it’s information they don’t want to hear.”
Will 777 Partners complete their Everton takeover
Maguire’s latest warning, albeit with an admission that the Premier League are in a difficult position, with the unknowns and concerns surrounding the takeover continuing to ramp up, should be the latest evidence against the move.
The very latest news is that 777 reportedly have ties to Russian oligarchs [Josimar, 13 March] – something that Everton fans in particular should be concerned about given their previous links with Alisher Usmanov and the hole that left the club in as a result.
That news, stacked on top of multiple lawsuits in the U.S., protests from fans of other clubs in the group’s portfolio, and multiple warnings from those keeping an eye on the situation, does not add up well as far as the club should be concerned.
The likes of Simon Jordan and Martin Calladine have spoken out against the takeover, insisting Everton supporters should be “very worried” and even going as far as to suggest the proposed deal could “destroy” the club.
In other Everton news, a new points deduction agreement could be on the cards.
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