Unfortunately 😔:Everton Journo drops ‘very unwise’ verdict after 777 Partners …

Everton: Journo drops ‘very unwise’ verdict after 777 Partners update

Everton takeover latest: Matt Slater drops ‘very unwise’ verdict after latest 777 Partners developments

Matt Slater says the latest steps taken by prospective Everton owners 777 Partners is “very unwise” and “risky”.

Semafor reporter Liz Hoffman shared details on Tuesday (14 November) of exactly where the American investment fund’s money is coming from.

The Athletic’s senior news reporter then provided a further breakdown of the cash flow and what it effectively means for Everton.

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Slater was asked on Twitter [14 November] exactly what the article meant in simple terms and replied: “It’s another piece about the downgrade at 777’s Bermuda-based reinsurance subsidiary, which has been making good money.

“Unfortunately, it has also been investing an unusual amount of its clients’ money in other 777 companies. This is considered to be very unwise/risky.”

Fears

Even in layman terms, this is still a complicated subject. As Slater stated, though, it does give a better indication of where 777’s money comes from, and where it goes.

Everton are one of a number of clubs in the Miami-based fund’s stable, and a lot of the money that is pumped into those clubs come via other means.

This update comes on the back of Everton being cited in a legal case against 777 Partners with regards to allegations made against the investment fund.

Right now, it seems that every day provides yet more negativity surrounding this takeover and whether 777 is realistically able to proceed with buying out Farhad Moshiri.

After weeks of uncertainty, it is likely that Everton supporters will soon have some clarity with regards to the takeover situation.

But even if 777 is given the green light to complete its full takeover, that will not alleviate the longer-term fears of many supporters.