Everton: ‘Fascinating’ 777 Partners development emerges, it could impact Goodison Park takeover

The Esk has responded to a “fascinating” development regarding 777 Partners that could have an impact on the takeover situation at Everton.

The financial expert was responding to quotes from Kenneth King’s A-Cap webinar this week in which 777 was informed its exposure would be reduced to zero within 60 days.

King, via a network of insurance and investment firms, has lent 777 millions of dollars. However, given this update, that is now expected to change.

After transcribing King’s quotes in full for theesk.org, The Esk added via his personal Twitter page [2 March]: “This part of King’s responses is fascinating.

“‘To the best of my knowledge 777 or 777 Re don’t have $1bn (£790.1m) in cash, & even if they did how would that impact their cash hungry businesses & more pertinently how could they fund Everton’s purchase and cap requirements?”

777 Partners takeover at Everton continues to drag on
With each passing week seemingly comes more questions with regards to 777 Partners and how exactly they are going about funding this takeover.

This is not a straightforward takeover. It is not one single billionaire showing they are capable and willing to pump millions into the club, for example.

Instead, this is an investment fund and the money they put into Everton comes via numerous alternative means. That is not to mention the multiple other clubs already in its stable.

Thanks to The Esk, issues such as this that would normally go under the radar are now firmly in the public eye. And rightly so, because this is effectively directly impacting Everton.

The real question is why exactly is Farhad Moshiri so set on selling up to 777? And if this particular takeover does fall through, are there now any alternatives options out there?

It is an incredibly messy situation, and one that may become even murkier before we are any wiser as to who exactly is going to buy out Moshiri.