Finance Expert reacts to fresh Farhad Moshiri-777 Partners Everton takeover agreement
777 Partners are “highly unlikely” to complete a takeover for Everton despite agreeing a fresh deal with Farhad Moshiri, according to Dan Plumley.
The Miami-based investment firm agreed another extension with Moshiri (15 May) to complete a takeover of the Toffees, giving them until May 31 to get a deal over the line.
But with 777 facing huge financial issues of their own, including a lawsuit accusing them of fraud, the football finance expert feels this extension should represent “last chance saloon” for a deal and he doesn’t believe a deal will go through now.
“How many times have we said with Everton and this takeover that it feels like we’re in last chance saloon, but this just seems to me now that it just doesn’t seem likely that 777 can get this takeover over the line,” he exclusively told Goodison News.
“Then you’re into what if scenarios, and again, with that particular extension, we have had this before. We have said this has to be the last time there is a rearrangement on a deal, it has to get over the line at some point. We’re in the same position again.
“I just think the more this rumbles on and the more of this we see, it is now becoming highly likely that we won’t see this takeover deal go through, and perhaps we’ve suggested such for a few months now, but you can’t keep going on like this. There has to be a cut-off at some point.”
Everton must move on from 777 Partners takeover
It’s been months in the making at this point, but Everton simply have to move away from a takeover deal including 777 and start looking for alternatives.
The club have confirmed that they do have “alternative scenarios” in place in case the deal doesn’t go through, but this should have been explored months ago.
It’s been clear for a long time that 777 don’t have the funds to make a deal happen, and they have even lost control of Brazilian club Vasco da Gama in the courts as a result of their financial issues.
This summer is going to be a huge period for the club as they look to cement their Premier League status under Sean Dyche, but with the financial situation of the team meaning players will leave and that will be a difficult situation to navigate.
The ownership situation would have provided more stability had it already been dealt with, but Everton are now being forced to continue waiting because Moshiri won’t bring an end to this nonsense.
In other Everton news, the club are set to lose a chunk of a transfer fee with a major exit expected this summer.
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