Alan Myers claims that 777 Partners has already provided Everton with up to £65 million in funding, despite the lackluster reaction to their purchase.
The Miami-based investment business, which has reached an agreement in principle to purchase Farhad Moshiri’s 94.1% ownership in the Toffees, has already provided significant financial support to the team, even though it has remained silent regarding the deal, according to a journalist for Sky Sports on October 15.
Although the precise amount of the investment had not been disclosed, it had earlier been reported that 777 had given the Toffees a sizable loan to aid with operating expenses and let them to proceed with building their new stadium at Bramley-Moore Dock [David Ornstein, September 18].
After investing £65 million, 777 and Josh Wander, their co-founder, have said very little about their intentions for the team and have refrained from discussing the takeover until the Premier League, the Football Association, and the Financial Conduct Authority have finished their investigation to determine whether they are the club’s rightful owners.
Declaration of purpose
The majority of the conversation surrounding 777 has been negative thus far, with many questioning whether or not they would be a significant improvement over Moshiri for the Toffees given the way they have managed some of their other teams across the world.
However, giving the Blues an infusion of £65 million before they even know if they will be permitted to buy the Goodison Park club demonstrates their sincere desire to support the team, and perhaps they can turn Everton into one of their success stories rather than another disaster.
Under Moshiri, Everton is circling Premier League relegation every year and it looks likely that at some point they won’t be able to avoid the drop. As a result, they need a new manager at Goodison sooner rather than later.
The Toffees could benefit greatly if a takeover is successful and 777 keeps investing in the team the way they have since rumors of an agreement were first floating around. Supporters won’t have to worry about the horror stories from Standard Liege and Hertha Berlin supporters.
In the event that a deal falls through, Everton is already in debt to the Miami-based company.
