Everton takeover news comes as 777 Partners continues to negotiate.
In terms of the money he’s invested in the club, Sam Allardyce says Everton couldn’t have asked for a ‘better owner’ than Farhad Moshiri.
Moshiri is in talks with American business 777 Partners to sell his majority ownership in the Toffees. Since their arrival at Goodison Park in February 2016, the club has spent over £500 million on transfers, while a new stadium at Bramley-Moore Dock is being built.
Everton, on the other hand, has lost £400 million in the last four years despite narrowly avoiding Premier League relegation in the previous two.
Miami-based Although 777 Partners owns numerous clubs, including Genoa, Standard Liege, and Hertha Berlin, The Telegraph reports that senior UK government officials are putting pressure on the Premier League to sell. In 2003, Josh Wander, the founder of 777 Partners, pleaded guilty to drug trafficking while the company was accused of fraud, making illegal loans, and failing to pay debts totaling hundreds of thousands of dollars in America.
Between November 2017 and May 2018, Allardyce managed Everton. In an interview with talkSPORT, he remarked of the current scenario, “They need to look at that with a lot of scrutiny and make sure that financially it’s right.” To be honest, you couldn’t have had a better owner than Farhad Moshiri. What is it, £600 million spent since he took over, but not in the proper direction to move the football club? Great ideas for a new stadium, but he’s probably had enough, probably looked at football and decided it’s time for me to leave and someone else to take over.
“However, who that may be must be carefully chosen for the ongoing financial situation at Everton – not just for the team, but also for the stadium that needs to be completed.”
Everton’s profligacy in the transfer market under Moshiri has put the club in financial jeopardy. Current manager Sean Dyche said that the Blues had to ‘build deals’ that made commercial sense during the summer window due to a limited budget.
“A number of different managers had a bit of a say,” Allardyce remarked, “but directors of football have been in there.” We all know that football directors are now more responsible for signing players than managers or coaches. We’re no longer managers; we’re merely first-team coaches. A lot of those have been brought in, and the proper recruitment structure has been put in place, but Sean is now struggling since there is no money left to spend in top-quality players.
“The players who have come before have come and gone. Some have been sold at a fair profit, but the most have cost the club money, which is why they are in this position now.”
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