Everton: A new report on the 777 Partners takeover shows additional financial issues
Will the Blues soon be under new ownership?
Everton are in desperate need of some good news right now, but that’s not what we’ve got in the latest report on the proposed takeover by 777 Partners.
What is the current status of Everton’s takeover?
Many Blues fans have become disillusioned of the present ownership at Goodison Park, with both Farhad Moshiri and Bill Kenwright coming under fire, and some fans even conducting protests before matches this year.
Everton have had a turbulent period recently, with back-to-back Premier League relegation battles looming – a third in a row looks possible at the moment, given their start to the season – not to mention off-field issues such as the move to a new stadium and issues with the owners.
A takeover is required at the club, and 777 Partners have emerged as the clear front-runners to become the club’s new majority shareholders, ushering in a new era.
Things didn’t appear to be going well at the time, with a recent report claiming that there could be a problem with legal issues with the investors, which the Premier League is currently investigating, but a huge new update from the club confirmed that a takeover has been agreed.
Another new update has also been released, but it isn’t exactly what Blues fans were hoping for.
What plans does 777 have?
According to a Football Insider update, Everton is concerned about how much funding will come from 777 Partners:
“There is growing concern among senior Everton figures about how much investment potential new owners 777 Partners will make in the team,” Football Insider reports. Farhad Moshiri is in advanced talks with a private investment group located in the United States about terminating his rocky reign as majority shareholder.
“According to Football Insider, Everton director of football Kevin Thelwell has submitted three different player recruitment plans to 777 chiefs in order to outline how the squad can be reshaped in future transfer windows once the takeover is complete.”
“The response from potential new owners is thought to have been so cold that senior Goodison figures are growing concerned about their interest in investing in the team.” According to reports, 777 intends to invest in the development of the new stadium at Bramley-Moore Dock but not in the playing team.”
Despite the fact that the primary crisis has concluded, this is a worrying development for any Everton supporter. While it is encouraging to hear that 777 is eager to invest in the new stadium, the report reveals their aversion to the recruitment plan, which one well-placed source says could lead to “disaster,” with an already struggling team “expected to be relegated” without significant investment.
The Blues must be in a situation where everything is working smoothly and supporters are satisfied that the owners are supporting Dyche with finances for acquisitions, else it is difficult to imagine the team returning to being a Premier League force.
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