Everton takeover news: Kieran Maguire reveals fresh 777 Partners concerns
777 Partners, who are involved in the process of completing the takeover of Everton had a £10million issue in 2022.
As revealed by football finance expert Kieran Maguire, the basketball side London Lions which are owned by 777, ended up losing £10million.
The auditors even pointed out there were significant doubts or concerns about the company’s ability to sustain and remain profitable.
Maguire wrote on Twitter: “London Lions Ltd, basketball club owned by the reverse Midas touch 777 Partners Ltd, lost almost £10m in 2022. The auditors report noted there is a material uncertainty over the company’s ability to continue as a going concern #EFC”
777 Partners takeover of Everton may not be good news
The 777 Partners takeover of Everton faces increasing scrutiny and uncertainty following a series of troubling developments.
The resignation of chief financial officer Damien Alfalla, amidst reports of cashflow issues and attempts to sell assets to sustain the club’s finances, signals internal turmoil within the investment firm.
The Premier League’s request for detailed financial information and concerns over 777’s ability to fund the club raise doubts about the takeover’s feasibility.
Additionally, there are beliefs that the acquisition is part of a broader strategy to support 777’s multi-club portfolio, potentially compromising the club’s financial stability.
With the Merseyside outfit already facing relegation and significant debts, the stakes are high and the club’s future hinges on the outcome of the ongoing takeover saga.
These underscore the precarious position Everton find themselves in and the urgent need for a resolution to safeguard the club’s future.
In other Everton news, there is pressure mounting as the Toffees’ financial future is in doubt amid a fresh takeover twist.
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