777 Partners already support Everton with £65m investment despite muted response – Alan Myers
777 Partners have already supported Everton with up to £65million in funding, despite the muted response to their takeover, according to Alan Myers.
The journalist reported for Sky Sports (15 October) that the Miami-based investment firm who have agreed to a deal in principle to acquire Farhad Moshiri’s 94.1 per cent stake in the Toffees have already supported the club with a large sum, despite remaining quiet over the deal.
It had been reported previously that 777 had afforded the Toffees a sizeable loan to help cover their running costs and allow them to continue construction on their new stadium at Bramley-Moore Dock [David Ornstein, 18 September], but the actual size of the investment had not been revealed.
Following the £65million investment, 777 and their co-founder Josh Wander have remained incredibly quiet over their plans for the club, refusing to speak about the takeover while the Premier League, the FA and the Financial Conduct Authority complete the process to decide if they are fit and proper owners.
Statement of intent
So far, most of the discussion around 777 has been critical, with the manner in which they have run some of their other teams around the globe calling into question whether or not they would be much of an improvement on Moshiri for the Toffees.
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But to provide the Blues with a £65million injection before they even know if they will be allowed to purchase the Goodison Park club shows that they genuinely are trying to help the club and maybe they could make Everton one of their success stories rather than another failure.
Everton are in a position where they need somebody new to take over at Goodison sooner rather than later as under Moshiri they are circling Premier League relegation every year and it feels inevitable that at some point they won’t be able to avoid the drop.
If a takeover is completed and 777 continues to invest in the club in the manner that they have shown since reports first emerged of an agreement being reached, this could be a huge boost for the Toffees and supporters may not have to worry about the horror stories from Hertha Berlin and Standard Liege fans.
But if a deal falls through, Everton already owe the Miami-based firm a sum of money.