US investors circling as Everton deal with 777 Partners stalls
The pending ownership change at Everton with 777 Partners is continuing to stall heading into 2024. The investment group previously agreed to purchase the Merseyside club from Farhad Moshiri way back in September. Nevertheless, a series of setbacks over the last few months has essentially plagued the takeover.
Fellow Premier League sides declared their concerns of 777 just days after the deal was agreed. The American investment group then went through a string of financial concerns. This included one of their other teams receiving a transfer ban and reportedly failing to submit the necessary paperwork to an official British regulator.
This regulator, the Financial Conduct Authority, must review 777’s financial standing for the deal to be approved. Although this regulator has reportedly since given their approval of Everton’s purchase, there are still hurdles to jump over.
Multiple American investment groups interested in Everton
Everton’s precarious financial situation has also seemingly complicated the pending deal. The Toffees were hit with a 10-point deduction by league officials back in November. While the club has appealed the ruling, and a final decision on the takeover remains in the air, 777 is currently helping to finance Everton with massive loans.
Despite these loans, recent reports suggest that 777 Partners is becoming more skeptical about a potential deal. The American group has publicly remained confident that they will soon be able to officially purchase the Merseyside team. However, Josimar now reports that 777 Partners is privately pessimistic about the agreement.
The news outlet also claims that other investors share in 777’s feelings. Multiple other groups are even apparently readying rival bids to purchase Everton. These new potential investors include a “prominent sporting figure with a strong knowledge” of the Premier League club.
This group, however, is not the only American firm potentially circling as 777’s move continues to stall. Josimar also reports that a third U.S.-based group even began putting money aside for a bid to buy Everton before Christmas. Although they would not name the firm, the news outlet claims that these third investors already have investments in other sports teams.
777 Partners racking up debt at other clubs ahead of Everton
Part of 777’s current backing in Everton is for their new stadium at Bramley Moore Dock. The group recently announced that they have already loaned the Merseyside club around $190 million since September. Assuming this is true, and the pending deal’s approval, 777’s total funding in the team could reach $1 billion. This is a massive fee for a club that is currently experiencing heavy debt while building a new arena.
Nevertheless, 777’s other soccer teams are not lucky enough to receive similar funds. Recent findings have suggested that Belgian side Standard de Liège and Serie A outfit Genoa are essentially hamstrung with serious debt. 777 Partners currently owns the clubs. Both face possible points deductions after posting eight-figure losses. Berlin-based Hertha BSC is also not exactly fairing much better as well.
These financial issues at 777’s other clubs are surely not ideal in their potential move for the Toffees. The Premier League will certainly consider these financial problems in their ongoing review of the group’s standing. However, Everton fans could soon see additional investors officially enter the fray with bids for the club shortly.
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