Everton’s protracted takeover has dragged on throughout the bulk of this season, with little end in sight.
After all, it is widely regarded that 777 Partners have done plenty to prove they are far from the fit and proper owners the Premier League demands, and yet there is still no conclusion.
The silence is deafening, and it has arguably sparked even more debate over what this lack of action means for the final decision.
Well, Kieran Maguire has now sought to detail his thoughts on the unrelenting saga.
What Kieran Maguire said about 777 Partners
Speaking on his Price of Football podcast, the finance expert was rather brutal in his assessment of Everton’s potential new owners, 777 Partners.
In fact, he even detailed how, whoever ends up in possession of the club, will have an outstanding issue to contend with.
He noted: ‘On the face of it that would be my reaction as well [that they’re unfit owners]. The problems that we have are Farhad Moshiri has agreed to sell the shares and ultimately Everton Football Club Company Limited, which has been around for more than a century, is a private company. The EFL’s role is restricted.
‘777 have created a poison pill by lending £170m to Everton. What’s going to happen to that if the deal doesn’t go through? Now, we are aware of other bidders. It’s fair to say those other bidders are basically in the United States.
‘I think it’s also fair to say that those other bidders are saying ‘Well let’s take a look at what we’re inheriting. If we take on Everton Football Club as a going concern, we’ve got debt’, and let’s just ignore Farhad Moshiri, let’s assume that Farhad Moshiri walks away with nothing, the club has still got debts in the region of £400m-£500m.
‘It owes other clubs a bid of money in terms of transfers. There’s another £100m at least to complete Bramley-Moore Dock in terms of the new stadium. So it’s going to cost new owners £600m just for that. The club’s probably not worth it.’
777 Partners have left Everton with their hands tied
Although it is a rather underhanded tactic, 777 Partners have Everton right where they want them.
Having pumped untold riches into the football club through the aforementioned loans, the value of the club to alternative bidders has been severely reduced.
After all, as Maguire noted, it’s simply not worth it for them.
Also, given the Toffees have also become reliant on this temporary investment too, should the Premier League reject their bid to take over it could plunge the club into administration.
Everton are unfortunately tied to 777 Partners now, with the Miami-based firm having gone about instilling a dependence on their funds with worrying and malicious ease.