Finance Expert reacts to ‘Red Flags’ as 777 Partners delay Everton loan payment
Dan Plumley believes 777 Partners being late to pay Everton a promised loan is another “red flag” in their bid to takeover the club from Farhad Moshiri.
The Miami-based investment firm were late in making a £16m payment to help the Toffees with the running costs of the club, which took their loans to the Blues to over £200m.
But it was another instance which raised question marks about their capabilities of purchasing the club considering the issues they have in countless other businesses, and football finance expert Plumley admits it’s a big “cause for concern”.
“It is [a red flag], you know, how many red flags are we up to now in counting?” he said exclusively to Goodison News.
“It is another thing where, from the outside looking in, with the comms that are not coming out of the club, particularly for the fans from that transparency angle, something again I’ve said all along, is that can smooth things out to a degree if you’re keeping in touch with your core fan base and letting them know as much as you can.
“But some of the things we’ve not heard or seen anything about, and then all these little red flags are jumping out and this is another example.
“If it’s been sorted out now that’s one thing, but it’s really on the wire isn’t it? It’s really close to the deadlines and those little things add up.
“As much as we’re talking about the positives for the club on the pitch and what’s happened with the Premier League positions and results recently, these red flags off the pitch are still a cause for concern, particularly for the fan base.”
Everton are desperate for clarity from the takeover situation
Considering that a deal was agreed between 777 Partners and Moshiri all the way back in September, it’s a disgrace that there has been no progress on getting a deal authorised by the Premier League.
The Toffees have been waiting for them to answer the league’s questions about proof of funds and everyone is still waiting, which should immediately raise questions about what would happen if they were allowed to take over.
But because the Premier League won’t just outright reject them in the process, and Moshiri is desperate to sell to the highest bidder and get this deal over the line there is now an impasse.
The more time that goes by however there is more uncertainty raised around the club and with the end of the season around the corner, plans need to start being made for the 2024/25 campaign.
Red flags keep popping up for this deal, and answers continue to remain unanswered, so Everton fans are forced to keep hoping for a resolution to come sooner rather than later.
In other Everton news, the club want to sign a league’s top scorer as part of a “major” double raid this summer.
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