UPDATED: Simon Jordan REVEALS why Everton can Benefit from a Deal with 777 partners

Jim White reacts as Simon Jordan dismisses Everton takeover fears amid new 777 Partners hold up

Simon Jordan has brushed off fears for the future of Everton amid a hold up in the sale to 777 Partners, suggesting the Farhad Moshiri is more likely to lose out.

The talkSPORT pundit was speaking to Jim White on the station on 19 October when the host asked him if a report from the New York Times a day earlier, that the American buyers haven’t provided the required financial information to authorities, would be an issue for the current owner.
777 have already provided loans to the club to help plug gaps in day to day spending, but Jordan suggested the negativity around the prospective new owners was based on “narrative” and “agendas” and said “I don’t worry about Everton’s future”.

White said (1m 25s): “With what the New York Times has told us, is Farhad going to have a problem further down the line with it?”

Jordan replied: “Everton’s wage bill is likely to be around £130m-£140million so £40m of loans is only short-term plugging of the gap, and it’s been secured against something, probably future distributions of Premier League money… so Everton have already priced it into their thinking.

“The landscape is not good because Moshiri clearly doesn’t want to be there… so Everton are in play and people are looking at it that [others] don’t particularly like… [but] eventually it’ll come out in the wash.

“I don’t worry for Everton’s future because I think Everton are too big of a football club, I don’t think [777] is an ideal move but it’s going to be very difficult for them if they’re going to do a dip and flip, because they’ll have to do that with a club that’s prospering not floundering so Everton will benefit if they do that move.

“Maybe what will happen somewhere along the line if 777 drop out and they’ve got their £40m secured against something, the repayment terms will be the repayment terms… the bottom line is Everton will be sold and the quantum may well be not to Moshiri’s liking. The £550m may be something else.”

White asked if we will ever see a 777 story that isn’t bad press and Jordan simply put it down to whatever narrative is to be created, comparing it to criticism of Todd Boehly at Chelsea.

“Alright, no panic Evertonians, no panic,” replied White.

Bold

There are some valid points in what Jordan says but it is easy for him to be blasé about the potential pitfalls when he has nothing riding on it, and White hardly sounded convinced.

Every element of the sale that doesn’t run entirely smoothly is a complication that the fans could do without, and racking up more and more debt and loan obligations is a potential concern.

If 777 complete the sale and are successful in quickly improving and selling the club on again then in theory that will be a positive.

But with fans of other clubs they own far from universally pleased with the running of those operations so far [Telegraph, 15 September] it can’t be assumed everything will go to plan.

The company seem intent on getting the deal done just as it looks like Moshiri is looking to end his time in charge, so absent any viable alternatives it would be better completed sooner rather than later.

Supporters would love to share Jordan’s confidence that Everton will be fine but relying on the size of a club doesn’t sound like enough when there have been some dire warnings in recent years.