Significant Farhad Moshiri update drops as Everton takeover deadline looms
Farhad Moshiri has seen his personal wealth shrink by over £130million, proving that he is incapable of funding Everton, according to Dan Plumley.
The Iranian businessman agreed on a deal with 777 Partners to sell his 94.1 per cent stake in the Toffees back in September, but a deal still hasn’t been completed with a final deadline set for 31 May.
There have been concerns that Moshiri is unable to fund the club if a deal doesn’t go through, with 777 Partners loaning Everton over £200million for the running costs of the club while a deal has been worked on, and when asked if his decreasing personal wealth shows it could be an issue, the football finance expert was certain in his answer.
“Absolutely,” he exclusively told Goodison News.
“We know that running a football club is a costly business and we’ve seen that with Everton. Every one of these kinds of people have phenomenal amounts of personal wealth and as you say, it’s a small drop for him but it’s not an insignificant drop, and that amount of money is really substantial.
“If you look at Everton, I think he’s been quite clear from a couple of years ago, let’s be honest, he’s said that he wants to give up control and he can’t fund the club in the way that he wants to, or it needs to be done moving forward.
“Then you look at the losses and position that Everton have been in. That club have lost over £300million in the last three to four years, it’s a phenomenal amount of money to be losing and that has been his own personal money that he’s had to put in and we know football club owners, most times, don’t actually make money.
“It stacks up with everything that we’ve seen over the last couple of years and it’s always been part of the reason why he’s been wanting to sell. You’re then coming back to the problem all the way through this, is that if a buyer can’t be found he’s still the person that has the overall responsibility for that football club. He has a decision to make as to how much money he can keep putting in, and what that resource envelope looks like and goes towards.
“That’s a big sticking point in the takeover because it is quite clear that he doesn’t want to fund the club and or can’t fund the club in the way that it needs to be done moving forward.”
Everton need to move on from 777 Partners and Farhad Moshiri
It’s been a long time coming, but it now seems evident that everyone is aware of the situation the club are in and the horror job that Moshiri has done.
He has failed miserably as the owner of the club, and he’s now failed miserably when it comes to selling the club too as he targets as much money as possible rather than actually helping the club get back on its feet.
777 are in huge trouble financially outside of the Everton deal, so there is simply no chance that a deal will be completed before the deadline.
Thankfully it seems that John Textor has stepped forward to take over the club, and while there is nothing close with the process the fact it exists is progress compared to a few weeks ago.
Everton need to find a way to leave 777 and Moshiri in the past and start building a future that doesn’t involve them and can help the team get back to where they once were.
In other Everton news, the club could look to sign another Leeds star as well as Jack Harrison this summer.
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