777 Partners lose control of Vasco da Gama in court amid fresh Everton takeover twist
777 Partners have lost control of Vasco da Gama in court amid fears of bankruptcy, despite agreeing an extension in their deal to buy Everton according to GE Globo.
The Miami-based investment firm agreed an extension with Farhad Moshiri, giving them until May 31 to complete a deal to takeover his 94% stake in the Toffees [The Telegraph, 14 May] despite the deal dragging on since September due to a lack of proof of funds.
And their financial situation has been called into even greater question now after they lost control of their Brazilian club (16 May) following a judge ruling in favour of Vasco amid fears of bankruptcy putting the club at risk.
Everton must move on from 777 Partners immediately
It’s quite clear now that 777 Partners will never be able to assume control of Everton despite agreeing a deal with Moshiri, and they simply must now move on.
The summer transfer window is going to be incredibly important for the Toffees after the way Sean Dyche performed, and the club are desperate for some clarity heading into the new season.
A major sale is expected before June 30 to avoid any more punishments for their finances, but beyond that there are huge question marks about what the future holds.
Colin Chong has confirmed that there are alternative situations in play should 777 not be able to complete a deal to purchase the club before the deadline, but it seems that it is already time to move on.
Andy Bell and George Downing are serious options while MSP Sports Capital are also supposedly interested too, so options are there and it’s time to explore them properly.
In other Everton news, Keys and Gray have mooted a controversial reason for Sean Dyche being overlooked as manager of the year.
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