777 call in finance experts as Everton uncertainty grows
777 Partners is co-owned by Josh Wander (in cap), who has been a regular at Goodison Park this season
- Published
The embattled prospective buyers of Everton, 777 Partners, have engaged finance restructuring experts, casting further doubts over their ability to complete a takeover of the Toffees.
777 agreed to buy majority owner Farhad Moshiri's 94% stake in the club in September, but uncertainty is growing over whether they can get the deal over the line.
Over the last two weeks, the Miami-based investment firm has come up against accusations of fraud and suffered financial difficulties in other parts of the business.
Moshiri has held talks with 777 this week as he looks for clarity regarding their situation, and whether they have the cash available to pay off a £158m loan owed to MSP Sports Capital.
But in a memo seen by ´óÏó´«Ã½ Sport, 777 have now appointed a team from Los Angeles-based firm B Riley Financial to help with "various operational challenges".
The memo added a "highly skilled consultant" will be working closely with the 777 team to "rationalise" the business and select the "most profitable path forward for our investments".
777 declined to comment.
- Published5 May
- Published9 May
B Riley describe itself as providing "tailored financial solutions" to meet the "strategic, operational, financial advisory and capital needs" of clients.
Last Friday, 777 Partners and co-owner Josh Wander were accused of a "fraudulent scheme" by a lender in a civil court filing in New York.
Earlier in the week, an airline it owns entered voluntary administration, leaving thousands of passengers stranded around Australia.
´óÏó´«Ã½ Sport understands 777-owned club Standard Liege's players have not been paid for April and claim they will not receive payment until the end of the season.
Standard Liege's game against Westerlo in the Belgian league on Friday was postponed after protesting fans blocked the team bus from entering the stadium.
Everton manager Sean Dyche has said planning for next season is difficult due to uncertainty over the club's takeover, while director of football Kevin Thelwell said players "will be sold" this summer and has asked fans for "patience and understanding" as the club works to improve its financial condition.
Meanwhile, the Everton Shareholders' Association (EFCSA) have called the protracted takeover a "farce" and called for Moshiri to call off the deal.
Everton host Sheffield United on Saturday in their last home game of the season, before travelling to Arsenal on the final day on 19 May.