Everton: 777 Partners takeover could collapse as search for new investors underway
Deloitte LLP, the main financial advisor to Everton, have been scrambling to find new investors to save 777 Partners’ takeover amid fears the deal could collapse, according to Bloomberg.
The US-based financial news outlet reported on 22 April that, according to people familiar with the situation, the advisor has been seeking funding from sport-focused investors.
It is said that the current preference is to attract a partner for 777 rather than finding a new bidder as that would mean they would have to go through the takeover process from the beginning again.
777 Partners takeover takes new twist at Everton
This is the latest in a long string of concerns surrounding the takeover which was initially agreed in September 2023, with nobody able to foresee the amount of time it would take for the deal to get over the line.
Josh Wander, a co-founder of 777 Partners, is reportedly “desperate” to get the takeover deal over the line, although hurdles still remain in the way of the completion of the deal, with MSP Capital still owed the repayment of their loan.
The group agreed to a deal to delay that repayment until the end of April or the start of May, according to Sam Matterface, but with time running out and the search seemingly underway for further backing, concerns are beginning to rise yet again.
Administration and a subsequent nine-point deduction remains a possibility at Everton if the 777 takeover is unsuccessful, while other investors are reportedly eyeing a swoop for the club, with more drama still to come.
In other Everton news, Mark Clattenburg claims Nottingham Forest were “victimised” at Goodison.
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