Claims that Everton’s takeover caused the 777 House to collapse US lawsuit connected to Liverpool
A US lawsuit has shed light on the ongoing attempt by 777 Partners to take over Everton, describing it as a “house of cards” situation. The lawsuit, filed by Obra Capital, owned by RedBird Capital Partners,
seeks punitive damages from Everton’s prospective owners over a dispute regarding a debt repayment stemming from a $55 million loan. There are also accusations that 777 attempted to shield assets from creditors.
The lawsuit highlights the scrutiny facing 777, with nine legal claims totaling over $100 million made against the company in the past year. This legal trouble has raised questions about the company’s finances, particularly as its takeover of Everton has not been approved, despite significant investment.
While 777 declined to comment on the case and dismissed legal issues as baseless or
opportunistic, the ongoing legal disputes could potentially raise concerns for Everton and the Premier League.
Everton’s importance to 777 from a business perspective is evident, given the substantial loans provided to date.
Josh Wander, associated with the takeover, attributes the delay in Premier League approval to profit and sustainability complications for Everton. However, the legal issues surrounding 777
could also be contributing to the delay.
The fact that the incomplete takeover is directly cited in a court dispute over the
prospective owners’ finances suggests that it is not an isolated issue. This situation may have implications
for Everton and the ongoing takeover attempt.
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