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Former Everton CEO Keith Wyness says he is aware of investment groups ready to pounce should there be an issue with the sale of the club to 777 Partners.
The Miami-based investment firm is currently awaiting regulatory approval from the Football Association, Premier League and Financial Conduct Authority with regards to its purchase of current owner Farhad Moshiri’s 94.1% shareholding in the Blues.
Questions remain around whether or not 777 Partners will be able to clear all the relevant hurdles in order to acquire Everton, with scrutiny continuing over just how the deal will be funded and the business plan for the club moving forward.
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Sources close to the US firm have insisted for some time to the ECHO that there is confidence that deal will be closed and that 777 Partners will add the Blues to their stable of clubs, which also includes Vasco da Gama, Genoa, Standard Liege, Red Star Paris, Hertha Berlin and Melbourne Victory.
The process for a decision over regulatory approval is set to be reached before Christmas, with 777 Partners understood to have already committed £81m in loans to the club to provide working capital to enable it to meet ongoing construction costs for the new stadium at Bramley Moore Dock, as well as payroll for players and staff. The firm, the ECHO has been told, could be on the line for as much as £100m by the time they take control, should, of course, they get the green light.
But there are other interested parties watching on in the background should the deal with 777 Partners not conclude with the investment firm acquiring the Blues. As reported earlier this month, the ECHO has learned of at least two separate investment firms, both American, who have an interest in making a move should the opportunity arise. Neither made a move earlier in proceedings due to the uncertainty over the independent commission decision which upheld the Premier League charge brought against Everton for a breach of profit and sustainability regulations. The Blues were handed a 10-point deduction, although they have now submitted an appeal. It remains unlikely that any other investor would want to show their hand in the event of a deal collapse until there was greater certainty over the potential for future sanctions, and a workable deal with existing creditors, such as MSP Sports Capital, Metro Bank and Rights and Media Funding Limited.
Former Everton CEO Wyness, who was at the club from 2004 to 2009, told the Football Insider Inside Track Podcast: “If the takeover does collapse, it will be interesting to see if Moshiri can actually re-invest. I don’t know if he’s selling up because he has no more to give – that’s one line of thought.
“What I think could be interesting is the new stadium. The cost of that stadium has caused all these problems, but it could actually end up being what saves Everton.
“There are investment groups out there, that I know of, who are interested in the club and in the stadium asset.
“I do think there would be last-minute deals to be done if the 777 Partners deal collapsed. I experienced this at Aston Villa when we had problems with a lack of funding from a Chinese owner. Because it was such a quality asset, there are always buyers out there. I think Everton will be the same, particularly with the new stadium.
“There will be some scary moments, but I believe a very good owner will come out of the woodwork. That’s my hope, at least.
“The serious, qualified buyers will sit and watch and try and get the club at a lower price. That’s how businesses become very successful. Particularly the American investors. There’s no need to rush in at the moment – why would you?
“With the 777 situation, the points deduction – why would you rush in? If you’re sensible then you sit and wait.”
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