Finance expert worried after big change he’s seen with potential Everton buyers 777 partners recently

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Everton are still waiting on the Premier League to approve 777 Partners’ proposed takeover of the club.

Five months have passed since the US-based investment firm reached an agreement with Farhad Moshiri over a purchase of a majority stake.

Initially, the end of February was earmarked for a decision. However, the saga is now set to creep into the start of next month.

Per a new report by the Liverpool Echo: “Prospective Everton owners 777 Partners remain unsure when they will be informed of the result of the Premier League’s owners and directors test, with hopes of a decision before the end of February fading.”

The Premier League are looking to vet Everton’s prospective new owners thoroughly before approving.

And football finance expert Kieran Maguire has highlighted why.

Kieran Maguire shares 777 Partners’ credit concern

Talking on the Price of Football podcast, Maguire has highlighted a concerning trend in 777’s credit rating in recent years.

“The first issue with respect to 777 is ‘where are you getting your money from?’ and it looks as if they’re being funded by an organisation called ACAP,” he said.

“What we’ve also seen in terms of 777 is a change in credit rating. If you are looking to borrow money, are organisations willing to lend to individuals or companies?”

On 777’s credit rating, he added: “By all accounts, 777’s credit rating, on the back of its financial performance, has gone from excellent to fair to now weak, i.e. junk status.

“If you’ve got a weak credit rating, there are fewer people willing to lend to you as you are a higher credit risk. Secondly you will be charged a higher rate of interest. So none of that looks good.”

Should this be cause for concern?

Predicting what 777 Partners’ ownership of Everton would look like is hard.

Change is required at Goodison Park, and they seem committed to the cause, but the performance of some of their other ventures has to be questioned. Standard Liege have paid wages late for the past three months, for example.

Perhaps the Premier League delay is a good thing. The US investors are being vetted well before any decision is made.

If approval is granted, only time will tell whether 777 can adequately turn the Toffees’ fortunes around in the coming years.