Simon Jordan: If I'm an Everton fan, I'd be very worried about the 777 Partners takeover
talkSPORT's Simon Jordan has issued a strong warning to Everton fans over their upcoming takeover by 777 Partners.
The Toffees announced in September that the US-based private investment firm agreed to buy Farhad Moshiri majority shares.
777 members will acquire a 94.1 percent stake and, therefore, majority control of Everton when your acquisition has been completed.
The company has acquired majority stakes in other European clubs, including Italian club Genoa and Belgian team Standard Liege, and also has a minority stake in Spanish team Sevilla.
However, they have previously had to rubbish suggestions Their takeover is on the brink of collapse and former Crystal Palace owner Jordan has hinted it is “not a good deal” for Everton.
He also questioned the validity of their income for White and Jordan, saying, “Well, the process is you have to look at the money and see who's bringing it in.”
“There is a lot to say about this 777 Capital because if you look behind the scenes where this money comes from, I'm not even entirely sure that the money they lent Everton is theirs. I think it comes from an insurance company that is underwriting some of the debts that this 777 Capital has.
“There is a restructuring of their entire asset base, including the football clubs they own, and Everton are being used to justify some of the funding they have for other football clubs. So if I am an Everton fan, I would be very worried and I think they are.
“Talking to the guy I was talking to over the weekend who, by the way, is a billionaire, so he knows what he's talking about… (Why doesn't he jump in?) Because he's sensible.
“Years ago I spoke to him and one of his other colleagues, who is a multi-millionaire, about owning a football club and they said: 'Well, you know, we're not all crazy like you, Simon. If we want to support a football club we will buy a season ticket.'”
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He added: “This is a challenge because Moshiri is the person who is selling the football club, he is the one who wants to get away from it.
“He doesn't really care, despite his protestations about wanting to hand him over to the club's top stalwarts in the future, he has sealed his business deal and is heading off into the sunset.
“So it's about the Premier League being able to make sure that every aspect of the acquisition meets all the requirements. The origin of the funds, the mechanisms that are being put in place, why these people buy the football club, which ones They are his plans moving forward.
“And with this group of people, if you look at their background, I read a little bit about them over the weekend just by chance because I found something that talked about how they are financing the debt that they put on Everton.
“What that is costing Everton and why there is that funding in the first place and what it is propping up 777 Capital in terms of their other acquisitions, Standard Liege and other football clubs that they have.
“This doesn't seem like a great transaction for Everton Football Club. It seems like a good transaction for 777 Capital, which of course it should be because they don't want to buy something that is a puppy to them. But Everton have to do it.” Look, here they are out of the frying pan and they may just be in the fire.”
Amid the wait for his takeover, Everton will also be told whether their appeal against their ten-point deduction from the Premier League for breaching financial rules is successful. in the days to come.
As a result, Sean Dyche's team fell to the relegation zone, but have since climbed out of it, although they could face another deduction this season for a second position.
