Everton: A 777 Partners twist leaves the Premier League with “no alternative.”
The Esk has asserted that the Premier League will have no choice but to reject the takeover bid from 777 Partners, adding to the string of potential setbacks for Everton.
A source from Everton questioned, via their X account on February 18, how the consortium
would manage to finance the club given that its main revenue source must divest its associated assets.
This conclusion follows AM Best’s announcement on February 18 that they downgraded the credit rating of 777 Partners’ primary funding source, citing the company’s weak balance sheet strength.
The completion of 777’s takeover of Everton remains uncertain. The Premier League’s scrutiny of the takeover, as part of the owners and directors test, has extended longer than anticipated. Richard Masters previously attributed this delay to 777’s failure to provide all requested information.
Further concerns have arisen regarding 777’s other ventures, including its football clubs across Europe, adding to Everton’s uncertain situation.
According to AM Best’s report, the credit rating remains under review with negative implications as they collaborate with the Bermuda Monetary Authority. 777 is now attempting to restructure its asset portfolio.
This development adds to the series of setbacks surrounding the Everton takeover, occurring alongside the pending verdict of their points-deduction appeal, intensifying the uncertainty at Goodison Park.
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