Everton’s takeover situation looks to be taking a twist with 777 Partners finding itself running into a number of capital problems.
American firm 777 Partners is increasingly unlikely to complete a £300m takeover of Everton with access to sufficient capital dwindling.
The investors have suffered several financial blows over the past few weeks with its Australian airline Bonza going into voluntary administration before having a lawsuit lodged against them by Leadenhall Capital.
The ECHO revealed on Thursday that MSP Sports Capital – one of the lenders for the club’s new stadium – could still yet table an investment proposal. This comes after Farhad Moshiri met with 777 co-founder Josh Wander to gage whether the business was able to sustain the takeover.
Moshiri had agreed a 94.1% stake sale to 777 back in September but the handshake has yet to be approved by the Premier League. It now looks as though a buy-out is hanging by a thread.
Our chief Business of Football writer Dave Powell told the ECHO’s Royal Blue Everton FC podcast: “We’ve now reached this point whereby 777 have got all the conditions that Premier League have set out, those four caveats of what they had to do in order to acquire the club which would have rounded out to about £300m.
“They’ve got to try and find the money for that without having access to capital they did have. This Leadenhall issue will almost be the straw that breaks the camel’s back.
