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Everton takeover:777 Partners receives a ‘baffling’ update amid a…

According to Jonathan Johnson, it is baffling that 777 Partners is in a position to take on a team as large and problematic as Everton when they haven’t built a track record of success at their other clubs.

On the Caught Offside Debrief Mailbag on October 23, the France-based CBS correspondent stated that the American corporation hasn’t “covered themselves in glory” with Red Star in Paris, and there is little hope at their other teams around Europe that they have the know-how to save the Toffees.

He cautioned that Everton’s exit from the Premier League would be “potentially catastrophic,” and he doubted that the possible new owners would have the money or foresight to prevent it.

 

777 are fascinating, said Johnson at 2:24 p.m. They have been for some years because their rise to prominence and having a say in a number of European teams happened so swiftly.

One thing that has emerged as a recurring theme in all of this is how often the deals that put them in power are forced through.

In my own backyard, Red Star are presently top of the semi-professional third tier in France… So it appears that the club will return to the fully professional second tier, but the contract was pushed through despite overwhelming fan opposition.

Since then, it’s been widely known that there are major concerns, not only about 777’s finances, but also about how they handle and run the clubs.

It’s perplexing in many ways that they’re associated with such a problematic Premier League club that would require a lot to turn around, not just in terms of financial resources but the expertise, project, and vision that would be required, not just to put Everton in a better position but to actually keep them from falling out of the Premier League.

Regardless of who owned the club at the time, if they were to drop out of the division this season, it could be disastrous.

I wouldn’t say that they’ve covered themselves in glory in France so far but there is a feeling generally across Europ that there hasn’t been enough of a track record established to really feel optimistic that they could turn around a club that’s in as much turmoil as Everton.

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You can’t blame 777 for being ambitious, but that’s no good for the Toffees, or any of the other clubs they own, such as Hertha Berlin or Standard Liege, when their futures are at stake.

Learning on the job works in certain industries, but football club ownership is probably not one of them, so it is plainly worrying if the perspective from places where they have already taken over is that they would be unable to handle the problem at Goodison.

It doesn’t necessarily mean that they can’t or won’t solve the problems that the Farhad Moshiri period created, but some optimism is long overdue for fans.

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And, sadly for the fandom, it appears that it is currently either 777 or Moshiri, so although it is perplexing that it has come down to the Americans, it is debatable whether the status quo is preferable.

Despite the latest concerns about Johnson’s alleged failure to present evidence to the Financial Conduct Authority on time, Johnson’s CBS colleague Ben Jacobs believes the takeover will proceed.

It may not be beautiful, but with Moshiri obviously a spent force at Goodison Park, there will be plenty of those who just want to get the deal done and start dealing with the consequences.

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