777 Partners’ protracted takeover of Everton seems “impossible” now after it emerged they could go bankrupt in court, according to Dan Plumley.
The Miami-based investment firm agreed a deal with Farhad Moshiri to buy the club in September but have yet to complete the deal, with a final deadline agreed for 31 May to get a takeover over the line.
But they are now in court amid a lawsuit accusing them of fraud, and it has been claimed that they could be subject to bankruptcy as a result of the claims. And when asked about the situation, football finance expert Plumley admitted he feels the takeover is beyond saving at this point.
“You never know fully what is going on behind closed doors and that’s kind of the question mark we’ve all had for a number of months with this,” he exclusively told Goodison News.
“From the outside looking in and the reports that we’re seeing, and a lot of the investigative journalism that has taken place, fresh concerns around bankruptcy and issues with some of their other clubs as well of course in and around the network.
“You’re just looking at this and go, this can’t go on like this. This is a real problem. Whatever the problem is, cash flow seems to be a big part of it. Whatever other problems that are happening behind the scenes for 777, we don’t know the internal conversations but as I say, from the outside looking in it just seems that this deal is almost impossible to get over the line.
“At some point we’d expect that to come out fully, but again, we just don’t know what’s happening at the minute, which is part of the problem.
“From everything I’ve seen, it looks really unlikely that they’re in a position to takeover and really see this through because of all the problems we’re talking about here.“
777 Partners cannot be allowed to proceed with Everton takeover
It has been evident for a long time that Moshiri doesn’t actually care about what happens with the football club, so long as he gets his money.
That simply isn’t good enough for the future of the club, and the fans need to know that he won’t just sell the club to whoever the highest bidder is but rather the person who is most suitable.
Everton need to helped out of a deep financial hole that has been caused by Moshiri and his cronies, and that can only happen if the Iranian agrees to a lesser deal that would help see the debt cleared.
There have been reports that Moshiri could end up leaving with nothing, which would probably be the best thing he has ever done outside of building the stadium for the future.
It’s clear as day however though that 777 Partners simply cannot be allowed to become the owners of this football club, otherwise there is a grave danger that it won’t exist in the near future.
