This is the £6bn reason why 777 Partners will be DESPERATE to complete their Everton takeover
Everton’s protracted takeover at the hands of 777 Partners has been one rife with contention, with both the club and the buyer spearheading their fair share of controversies.
The former are currently under investigation following years of financial mismanagement, with the potential sanctions set to be catastrophic should the Premier League get their way.
Then, on the other hand, many have drawn into question the way in which the Miami-based firm accumulated their fortune, and the legitimacy of the funds needed to purchase the Toffees from a more-than-willing Farhad Moshiri.
It has been clear the Iranian billionaire has wanted to sell for some time now, and having agreed to a deal for the transfer of his 94.1% stake back in September, they still await an outcome on the division’s ownership test.
However, this is a venture that Josh Wander and his team will be desperate to push through, adding the Merseyside club to their vast portfolio of top clubs.
Especially given how lucrative the English top flight has proven to be, and will likely continue to be, with the Liverpool ECHO detailing the latest expectations.
First referencing The Athletic, they note how projections suggest that the value of media rights globally, sitting at £7.7bn a year for 2022/23, is set to rise to £11.3bn by 2031/32.
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However, the ECHO then go on to state: ‘Some sources the ECHO has spoken to feel that the value of the next set of domestic rights could reach between £5.5bn and £6bn.’
This is something which prospective owners will be desperate to get involved in, with such a huge sum of money something no businessman would want to miss out on.
What is the 777 Partners controversy?
The Guardian details the numerous controversies surrounding 777 Partners, who suggest that the Premier League’s new owners’ and directors’ test is set to face its real first challenge whilst overseeing their potential deal.
Despite only being founded in 2015, the company came under great scrutiny when dealing with allegations of fraud and unpaid debts, whilst Wander himself has even pleaded no contest to a drugs charge back in 2003.
Given the huge debt accumulated at Goodison Park, that earlier accusation will worry Evertonians.
Not to mention that the company actually accumulated its vast wealth through shady means, with structured settled annuities a controversial tactic that seemed to prey on the general public.
The Washington Post would even write, regarding their growth to power, that it was a plot that ‘critics have called exploitative.’
Moshiri will not care who ends up with Everton so long as he gets his buy-out, but Wander will be desperate to wade into the Premier League before this huge financial influx emerges, should they pass the test.
