Why recent reports around 777 Partners’ takeover of Everton are ‘wide of the mark’
That is at least what recent reports are suggesting, after months of speculation regarding their financial strength, fitness as owners, and ability to pass the numerous tests laid out in front of them by the Premier League among other footballing bodies.
Should they be granted access, the outcome of which is expected to emerge by the end of January, it would bring to an end Farhad Moshiri’s torrid reign as owner, in which he offloaded a huge portion of his vast fortune only to regress the sleeping giant, only deepening its slumber.
Whilst fans have very differing opinions on the Miami-based firm, who kickstarted their business with the shady structured settlement annuities model, at this point it will just be a welcome sight to see the back of the Iranian billionaire who promised the world but delivered little.
However, one writer has sought to refute claims that progress is being made with the takeover, as Paul Quinn took to X to give a typically cut-throat and blunt outlook.
More commonly known as The Esk on that platform, he would write: ‘Reports or suggestions that 777’s approval process is near to conclusion & therefore the t/o is close are very wide of the mark. Everton’s ownership issues will not be resolved anytime soon.’
Whilst it might be easy to assume that 777 Partners simply had to stump up one lump sum to pry Everton from Moshiri’s grasp, that has been far from the case.
After all, the 68-year-old has a number of remaining considerations in sanctioning the sale, given he is now no longer willing to freely pump his cash into a side he seeks to sell.
Not only that, but it is reported that he has invested upwards of £750m already in transfers, managers and the stadium since his 2016 emergence, so it should come as a surprise that the potential buyers have only had to come up with £550m to claim that 94.1% controlling stake.
However, that fails to take into account the additional funds invested through loans to the club, as they have sought to solidify their interest in Everton whilst coincidentally making the club rather reliant on their funds in the process too.
