According to Ian Ladyman, any possible Everton acquisition by 777 Partners would be financed by borrowed funds.
The journalist wrote on page 75 of the print edition of the Daily Mail on 15 September that the back story of the US investment firm “spews out red flags like confetti,” referring to the criminal charge against co-founder Josh Wander and the missed payment to the British Basketball League earlier this summer.
He added that if he were a Toffees fan, he would be hoping the transaction falls through and questioned whether the club is really that keen to enable the company to take ownership.
“The back story of the prospective new Everton owners spews out red flags like confetti,” he says. “It appears that any takeover by the American investment firm 777 Partners would be funded with borrowed funds.”
“Co-founder Josh Wander has a criminal record, having received cocaine through the mail 20 years ago.” So it’s not just criminal, but also foolish.
“Add to that the fact that they missed a payment deadline for nearly €1 million (£860,000) owed to the British Basketball League earlier this summer, which they have now paid, and the hairs on the back of your neck stand even higher.”
“If I were an Everton fan, I’d wonder why 777 wants to buy my club.” Regardless of Everton’s current situation, I would hope that this trade falls through. We know Everton is desperate, but are they that desperate?”
Important questions
There are a lot of important questions that need to be raised about the prospective takeover because there are very few answers available right now.
Since it was announced on September 12 that advanced conversations with Farhad Moshiri were beginning, a lot has been exposed about 777 Partners, almost all of it bad, which does not bode well [iNews].
The criminal allegations and financing concerns are huge red lights, as should the lack of success on the field for the other clubs it owns.
It just does not appear that the organization has the funds to even pursue a deal, let alone get it through the Premier League’s checks.
It’s a difficult time for Everton fans, but while they’re yearning for a takeover, many will be skeptical that they are the appropriate people to lead the club forward.
In other Everton news, a pundit has praised one of the club’s recent displays.
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