Farhad Moshiri could leave Everton with nothing as 777 Partners takeover on verge of collapse
Farhad Moshiri could be forced to walk away from Everton with nothing as the 777 Partners takeover deal is on the verge of collapse, according to talkSPORT.
Writing on their website (9 May), the news outlet report that staff at the club have resigned themselves to the fact a deal now won’t be ratified as the Miami-based investment firm don’t have the funds to complete the deal.
A £550m deal was agreed back in September, with over £200m loaned to the Toffees since then to help with the running costs of the club but 777 are now facing crisis with several issues across their other businesses.
As a result of the deal collapsing and with the club in severe debt, Moshiri could walk away with nothing as an alternative buyer is sought, leaving him with little leverage in any negotiations.
Finally Everton fans may get what they want and deserve
It’s been very clear for a long time that 777 Partners were not going to be able to complete this deal, but Moshiri was adamant about getting it over the line to get his money.
It’s now obvious that is what his main motivation is, rather than actually finding an owner who cares about the progress of Everton as a football club.
777’s business model is always to make as much profit as possible, but the situation should never have been allowed to get this far because the Premier League should have ruled that they are not fit and proper owners a long time ago.
Now though, the club has a chance of finding owners who care and can come in immediately with some money rather than Moshiri taking it all and leaving the Toffees in a hole.
In an ideal world Moshiri gets nothing, Everton get new owners who care and 777 Partners are a distant memory.
In other Everton news, senior figures at the club have “major doubts” about 777 completing a takeover.
For more Everton news, follow us on Facebook or join our brand new WhatsApp Channel for instant updates to be sent straight to your phone.