777 Partners lose control of club in court amid Everton takeover saga
Dan Plumley has reacted to news that 777 Partners have lost control of Vasco da Gama in court in a fresh twist in the Everton takeover saga.
The Brazilian club took the Miami-based investment firm to court in order to take control away from them amid their recent financial concerns, as they could potentially face bankruptcy following a lawsuit accusing them of fraud.
Football finance expert Plumley has reacted to the news and believes that the number of red flags raise the question as to how a deal for Everton can even take place anymore when their struggles are so great.
“I think if you look at risk and red flags from a football perspective then that’s a really big factor in the story,” he exclusively told Goodison News.
“We’ve talked a lot over the last few months around some of the problems with 777 and their other businesses that they’re connected to outside of football, which is still a red flag and we’ve talked at length about those issues.
“But the other side of the coin is some of the flags you’re seeing in the football operations and that’s in clubs they own.
“You’re posing the question then aren’t you, of if that club is really struggling financially and 777 are not able to operate that club fully then how does a potential takeover at Everton even take place? Because we know they’ve used other clubs and other assets as leverage for parts of some things they’ve been trying to do at Everton.
“So I guess they’re all red flags, but certainly when you see some of the football club issues that they’ve got connected to their multi-club ownership where they’ve got their stakes, then that now becomes even greater cause for concern especially for Everton.”
Everton can finally move on from 777 Partners takeover saga
With a fresh deadline of May 31 fast approaching at Goodison Park, it’s now widely believed that 777 Partners won’t be able to complete a takeover.
It will bring to an end months of speculation and uncertainty around the club, and finally, Farhad Moshiri will be able to move on to new potential suitors rather than kicking the can down the road for as long as possible.
Andy Bell and George Downing have emerged as “serious” options to potentially step in, while John Textor has recently gone public with his interest in a deal for the Toffees too.
It shows there is interest beyond 777 and they aren’t the only realistic option which is something that has been preached for a while at this point. In fact, they were never realistic.
Everton can move on and leave all the 777 Partners drama in the rear-view mirror, and hopefully, the club can start to work towards a solution as soon as possible to help their situation this summer.
In other Everton news, the club want to sign this Manchester City star on loan this summer.
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.