777 Partners’ takeover of Everton remains in intense jeopardy but the group has received a boost after the latest news coming from Brazil.
The Miami-based company agreed to buy Farhad Moshiri’s 94 per cent stake in the club in September 2023, but pending lawsuits and financial matters have delayed Premier League approval.
Now it appears the British-Iranian billionaire is considering calling off the deal entirely amid doubts that 777 are able to finance the club post-takeover.
In news that would reinforce what many analysts have insisted for some time, 777 have now left wages unpaid at Standard Liege, one of the other club’s in their multi-club portfolio.
However, financial anxieties at one of their other clubs, Brazilian top-flight side Vasco da Gama, may have eased somewhat in light of the latest news.
As reported by Sport Business, the Rio-based club have signed a record front-of-shirt sponsorship deal worth £18million over the next 18 months.
Why does the Vasco da Gama deal matter to Everton?
After the deal was confirmed, Vasco chief executive Lúcio Barbosa said the deal with online betting platform Betfair was “huge” after “weeks of intense work to get the best for [the] club”.
That in turn is £18m worth of funding that 777 will not need to plug into Vasco to pay wages, fund transfer activity and remain competitive on the pitch.
In the long run, it is unlikely to reassure a Vasco fanbase who are vocally opposed to the 777 regime.
Could the 777 takeover still happen?
At this stage, all the signs point to the takeover being dead in the water. But the lack of any formal announcement or signal from either party will leave the door ajar – for now.
The takeover would be deeply unpopular with Everton supporters, many of whom are actively campaigning for Moshiri to explore what they perceive to be more credible options.
Among those are MSP Sports Capital, another US investment group who are reportedly exploring a full takeover.
Like 777, MSP are a multi-club outfit and have researched the possibility of buying another Premier League club in recent times.
The group almost bought a 25 per cent stake in the Merseysiders last summer and have an option to take a controlling stake in the club as part of a £158m financing agreement