Everton still look likely to get new owners in the form of 777 Partners, but now there’s been a warning sent.
The takeover of Everton has been dragging along for a while now, and as the Premier League, on one hand, are punishing Everton and charging them with PSR breaches, they’re also reviewing 777 Partners.
The group who are looking to takeover Everton aren’t the ideal owners and have already broken a promise before even being confirmed.
Their financial situation and track record of owning clubs leave much to be desired, but with such a precarious situation currently, Everton needs all the help they can get.
The Goodison Park side therefore is eagerly awaiting the Premier League’s decision. But now super agent Jon Smith has revealed what he’s been hearing about 777, and it’s concerning.
Jon Smith explains what he’s heard about 777
Writing in his Caught Offside column, Smith explained what he’s heard about 777.
“I’m hearing from the financial markets that 777, until fairly recently, had allegedly been in the marketplace looking for additional funds, which wouldn’t fill me with a lot of confidence.
“They’re, elegant, they’re good guys and I think they’ve got a good track record, so in some way, shape or form they’ll pass the proper person’s test.
“I know a lot about Everton and the funds, and the finances are incredibly messy. A lot of the money has come out of Russia for example, so that’s probably going to have to be addressed in terms of what is actually physically owed and what isn’t, and what comes under embargoed funds.
“They’ve also had a loan out there with a particular fund on which they’re paying a very high-interest rate.”
Everton could be about to enter a worse situation
In desperation for a takeover, Everton has likely overlooked how bad the alternative is to the current regime.
The grass isn’t always greener on the other side and as 777 likely edges closer to completing their acquisition, it’s important to continue holding the ownership to account.
Along with this is the concern of administration which Smith has also mentioned and so things might not be on the up for the Toffees just yet.
Fingers crossed 777 are the owners that Everton fans have been dreaming of, but right now, it’s a worry.
Receive a digest of our best Everton content each week direct to your mailbox
