Josh Wander refuses interview as 777 process may have long-term implications at Everton
Josh Wander has refused to take part in an interview with the New York Times after they reported that 777 Partners’ Premier League approval process could have long-term implications at Everton.
The newspaper reported on its website on Tuesday (October 10) that they had approached the American investment firm co-founder to comment on their article surrounding the finances of the company ahead of the Premier League’s review over the sourcing of 777’s funding.
While 777 Partners have agreed to a deal in principle to acquire Farhad Moshiri’s 94.1 per cent stake in the Toffees, the deal has to be approved by the Premier League, assuming Wander’s company is deemed suitable to run the Blues. But there are fears the company’s set-up could pose problems for Everton.
Discussing the takeover, Tariq Panda wrote: “His company’s bid for control of Everton, an acquisition that would eventually require hundreds of millions of dollars in assumed debt and other obligations, is by no means a sure thing.
“The Premier League, England’s Football Association and an independent British government regulator, the Financial Control Authority, all must approve the proposed deal, a process that is likely to take months.
“What they discover could have implications not only for the future of Everton, a fallen, money-losing giant but also for the rest of the financially troubled teams in the 777 network. None of the soccer or public agencies currently assessing 777 Partners would discuss their review or a timetable for its conclusion.”
The radio silence from Wander or the rest of those in charge at 777, barring one open letter published last week should be worrying Everton fans as it does seem as though there are already plenty of issues with the Toffees’ potential new owners before the takeover has even got up and running.
Wander’s refusal to explain where the American investment firm sources their funding from suggests that it may not align with the Premier League’s strict rules and as they try to prove they don’t need an independent regulator, they will go through 777’s accounts with a fine tooth comb.
Everton are desperate for a change of ownership as Farhad Moshiri’s time in charge has left them circling Premier League relegation with their hopes of dodging the drop lessening with each passing season, but they may be better off with Moshiri than 777.
If the Premier League discover anything glaringly wrong with 777’s work so far, this could spell chaos not just for the Toffees, but for clubs around the world, given the American firm’s standing in sides across the entire globe. It is worrying there has been so much fear around a deal which hasn’t even been completed yet