In their attempt to take over at Everton, 777 Partners have not had it easy.
Despite agreeing to purchase all of Farhad Moshiri’s 94.1% stake back in September, they were told that their deal would not be ratified until a number of independent bodies had handed their approval.
After all, as is the case with any new owners seeking to invest at the top level of English football, they must first pass the Premier League’s fitness test.
Well, few expected it might drag on as long as it has done, with it being nearly four months since the initial announcement.
During that period, the Miami-based firm have continued to pump money into the Merseyside outfit, effectively making the Toffees now reliant on their fortune.
Well, as if the reports suggesting they are far from close to achieving success weren’t bad enough, this latest one seeks to detail the latest setback in a long line of them.
As detailed by journalist Paul Brown, 777 Partners are set to be the target of another lawsuit. He writes: ‘Another day, another lawsuit for 777. This time in the UK High Court. Remember the four aircraft their budget airline had repossessed because they were late with payments? 777 are now being sued for damages in a case filed just last month.’
What teams do 777 Partners own?
This lawsuit is only set to add to the ongoing controversy surrounding 777 Partners, much of which stems from the type of clubs they typically inherit.
As an outfit that clearly prides itself on acquiring distressed assets, they have made a fine empire of clubs that were bought when the price was at an all-time low.
Their plan is to take the foundation of those big clubs, like Sevilla, Hertha Berlin, Red Star FC and Genoa, and bring them back to the top.
Should Everton join, they would instantly become the crown jewel of that multi-club portfolio which also boasts Australian side Melbourne Victory and Brazilian outfit Vasco da Gama.
With the Toffees at the top, they could well be privy to some benefits from the links between all these different sides. Especially given what one of 777 Partners’ directors said, which provoked backlash from some sides.
The other club part of this model is Standard Liege in Belgium, who coincidentally snagged Isaac Price from Goodison Park in the summer.
It is worth noting that their affiliation with Sevilla and Melbourne Victory is merely as a minority shareholder at the moment.
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