More Everton 'concerns' emerge over 777 Partners takeover

In partnership with

GiveMeSport

·19 October 2023

More Everton 'concerns' emerge over 777 Partners takeover

Highlights

Everton's potential new owners, 777 Partners, are facing doubts and concerns about their funding and ability to take the club to the next level. The takeover process is still undergoing regulatory checks.
Everton's current situation is chaotic, with allegations of Financial Fair Play breaches and a potential disciplinary hearing. This adds to the stress for Evertonians, especially with the Merseyside derby coming up.
There are concerns that Sean Dyche's position as manager may be at risk with the arrival of new owners. Wholesale changes, including a reshuffle among the coaching staff, could be expected if results don't improve.

Everton's potential new owners 777 Partners are waiting patiently before their deal gets signed off, and journalist Paul Brown has now given the latest update on the situation to GIVEMESPORT.

There have been plenty of varying reports since it was announced that 777 Partners were set to take over at Goodison Park, questioning Everton's prospective new owners. For now, the focus of Sean Dyche and his players has to be on improving results on the pitch, trying to avoid distractions from behind-the-scenes.

OneFootball Videos

Conflicting takeover reports

Everton officially announced in September that they had reached an agreement with 777 Partners for the investment group to acquire 94.1% of Farhad Moshiri's shares. The takeover process is subject to 777 Partners passing all the regulatory checks which we're yet to see finalised.

Brown previously told GIVEMESPORT that there are serious doubts as to whether 777 Partners have enough funds to take the Toffees to the next level or even get them out of the trouble they are in. Everything appeared to be on track, until reports emerged on Wednesday, per talkSPORT, that the takeover was in danger of falling through due to doubts over how the prospective new owners were going to finance the deal.

However, 777 Partners have quickly hit back at suggestions that they aren't meeting deadlines or that they are struggling with the financial aspects of the deal, releasing a statement via The Times...

“We have submitted all relevant documentation to the FCA in line with their requests, and indicative timings... The regulatory processes in relation to the proposed acquisition of Everton need to be allowed the proper time and space to run their course in private."

It's all a bit of a mess at Goodison Park at the moment, with MailOnline reporting that Everton and the Premier League have now met in secret to begin a disciplinary hearing into alleged Financial Fair Play breaches. It appears to be one thing after another for Evertonians to have to contend with at the moment, and with the Merseyside derby coming up at the weekend, it's not going to get any less stressful.

Paul Brown update - Takeover

Journalist Alan Nixon has claimed that Andy Bell and George Downing have already pumped £80m into Everton after working with previous takeover bidders MSP Sports Capital. The report from Nixon claims that 777 Partners want the pair to join their bid to buy the Merseyside club.

Brown has now suggested that he believes someone like Bell would share the concerns regarding proof and sources of funds from 777 Partners. The journalist adds that he still believes there are hurdles to get over in order to get this deal done. Speaking to GIVEMESPORT, Brown said...

"I think a rational businessman like Andy Bell would share the concerns of many about the proof and source of funds from 777. I think there are big hurdles still for this deal to get approval. And it's not clear yet really what role Andy Bell wants to play going forward in the club. He's not the only lender to Everton and there are a lot of other creditors that will need to be satisfied by whoever comes in and takes the club over. From what I hear, there are a lot of people around the club who still have concerns about 777 Partners' funding. And it will be interesting to see whether the group can allay those fears and get this deal done."

Many Evertonians will just be desperate to see Moshiri depart from Goodison Park, considering the mistakes he's made in the hotseat and the downward trajectory the club has been on since his arrival. However, equally, those people should be concerned about their prospective new owners too, so it's hardly an ideal situation for supporters of the Merseyside club.

Sean Dyche will be worried about his job

When new owners arrive at football clubs, we often see wholesale changes made. With Everton struggling towards the bottom of the table, it wouldn't be a complete surprise to see the investment group opt to have a reshuffle among the coaching staff.

Journalist Dean Jones told GIVEMESPORT before Everton's victory over Bournemouth last time out that Dyche could be under pressure if he failed to get a result against the Cherries, so he's clearly already on thin ice at Goodison Park.