The former Daily Star journalist told GiveMeSport (30 October) that fans should be concerned that the American company will need to borrow money for the buyout, with potential rivals ready to pounce if the deal falls through.
Multiple investing groups, according to Brown, are aiming to profit if the 777 deal falls through because they believe the club would end up in administration and then become a bargain buy.
Regulators are still looking at it, according to Brown. I believe it should be quite concerning for Everton fans that it is evident that this corporation will require loan funds to complete this transaction.
They’ve needed borrowing money for a variety of different transactions throughout the years, and this one will be no exception. I think there are still some huge hurdles to cross before it’s signed off. So we’ll see if 777 Partners is capable of doing so.
It’s also worrying that many other investor groups are reportedly interested in bidding for the club.
However, all of these parties appear to expect that the 777 takeover will fail and that Everton would go into administration, becoming a bargain deal for anybody wants to come in at that point.
This is not good.
Brown’s statement is hardly inspiring for Toffees fans, and it makes the likelihood of any options to 777 sound possibly worse, despite the club’s constant denials that administration is a possibility.
Given that Everton is already in debt to a number of creditors as a result of a number of current loans, it appears doubtful that the prospective new owners will be able to arrange their own loans to complete the takeover against club assets such as the stadium.
They still have to satisfy the relevant authorities that they can complete the process of buying from Farhad Moshiri, and until they do that it looks like there will be concerns over the access to cash and the source of it.
And, with the Premier League one of the bodies that Josh Wander and company must satisfy, and the same body demanding a sanction for an alleged, and denied, expenditure infraction that would certainly relegate the club, the scenario appears to be a shambles.
What the eventual outcome will be is difficult to predict, but in the meanwhile, the new stadium appears to be taking shape and looking fantastic.
And, with a strong 1-0 away win at West Ham this weekend, there is some optimism on the pitch for Sean Dyche and his players, but those extra points feel like they are happening despite the club’s current position.
