Everton’s touted takeover has been a lengthy, drawn-out process, with 777 Partners questioned at every turn as they seek to pry the club from Farhad Moshiri.
Whilst the Iranian billionaire has affirmed on multiple occasions his willingness to sell, even penning an open letter to the shareholders suggesting “I firmly believe they are the best partners to take our great Club forward”, a fresh hurdle has emerged that could scupper the deal.
Journalist Ben Jacobs sought to detail the potential for everything to ‘collapse’, even outlining the ramifications that such an eventuality could enforce.
‘I wouldn’t necessarily say collapse at the moment but 777 Partners have been unable to smoothly complete [the deal], which was the belief at least a few weeks ago.
‘Where we were previously was that 777 had agreed a £550million deal to buy Everton, and that’s also highly significant because Everton are currently under a financial fair play breaches investigation, we may get more on that and a potential punishment very soon, they’re also in the process of building a new stadium… so all of that is contingent on new investment in order to keep the club going.
‘If they get points docked, if they have FFP breaches, they might end up opening a new stadium in the Championship [while] not being financially healthy, and this is why the deal is essential. It has to go through. But it can’t unless 777 Partners show their proof of funds and the process and regulatory elements are transparent.
‘So there’s two sides here. The FCA speak as if a deadline was missed. 777 Partners counter, saying that all relevant documentation was passed on and that the process is on track.
‘So I don’t think we can say collapse yet but there are hitches to the process, which I still think will eventually get done, but it’s a little bit more in doubt that it was a few weeks ago.’
What is the 777 Everton controversy?
Although the Toffees’ desperation to find new investment has been well-documented, having already accepted loans from MSP Sports Capital among other groups to help keep them afloat.
However, the 777 Partners are the latest who seem to have a genuine chance of snagging the club, with their loan taking the total funds borrowed to over £350m.
Vast controversy surrounds their attempts to acquire Everton though, as they await approval from the Premier League. It marks the first viewing of their supposedly stricter test to ensure prospective owners are passed fit to run an English top-flight club.
Despite that, The Guardian does detail that 777 has faced allegations of fraud and unpaid debt, which could provide some backlash from Evertonians despite the company refuting such a notion.
The security of a truly titanic footballing institution hangs in the balance, as the Merseyside club struggles to stay afloat amidst the unrelenting financial tidal waves that pile on the pressure.
These prospective owners are set to solve their issues, or at least that’s what they claim, but such positivity could come at a cost for Sean Dyche.
Everton would enter into their multi-club ownership model, and might see the club utilised to benefit the masses rather than put on the pedestal they would hope for.
Whilst such a future remains to be seen, Jacobs’ claims will do little to assuage mounting fears surrounding the security of the club.
Receive a digest of our best Everton content each week direct to your mailbox
