The Everton Football Club is in the process of continuing discussions with 777 Partners regarding the potential takeover of the club, despite the failure of the American investment firm to meet the deadline for finalizing the deal. The Miami-based company has faced financial challenges, and there are concerns about allegations of fraud in the United States. Nonetheless, Everton’s owner, Farhad Moshiri, is inclined to maintain a working relationship with 777 Partners, as they had previously provided a loan of £200 million to the club to avert a financial crisis.
The club’s debts are approaching £1 billion, including a £450 million unsecured loan from Moshiri himself. With the expiration of the takeover deadline, Moshiri is now free to engage in discussions with other potential buyers, and there have already been unsolicited offers from various parties expressing interest in acquiring the club. One such interested party is American tycoon John Textor, who has indicated his intention to make a formal bid once the opportunity arises, although he is currently required to sell his stake in Crystal Palace before he can proceed with a potential investment in Everton. This process could take several months to complete, thereby prolonging the acquisition timeline.
Moshiri now has the option to explore alternative arrangements with other interested investors, including MSP Sports Capital, an American investment company that ranks among the club’s major creditors. While the club’s financial outlook in the near future appears optimistic, long-term investment is imperative, particularly in light of the impending shift to the new stadium at Bramley-Moore Dock next year.
Despite concerns about how the club’s financial situation may impact its ability to retain key players, manager Sean Dyche has been assured that there will be no fire sale of top performers this summer. However, ongoing financial obligations, such as the debt to Rights and Media Funding amounting to £225 million, underscore the necessity for substantial and sustainable investment.
While Everton remains committed to exploring a potential deal with 777 Partners, the club is also open to other viable opportunities for securing its financial stability and long-term growth. Ultimately, the future of the club hinges upon securing a reliable and committed financial partner, ensuring its continued success and competitiveness in the Premier League.