” It is over” Everton takeover named as New York lawsuit emerges on 777 Partners in new twist – report

The ongoing discussions regarding the acquisition of Everton Football Club by 777 Partners have encountered a new hurdle as a lawsuit filed in New York has come to light, casting shadows on the financial integrity of the investment group. The lawsuit, as reported by Bloomberg on March 7th, involves Obra Capital, a creditor alleging that 777 Partners have shirked their debt obligations, leveraging the Everton takeover talks as a case in point.

This development adds a layer of complexity to 777 Partners’ aspirations to secure ownership of Everton, as it raises significant questions about their financial practices and the legitimacy of their funding sources. The group, which has previously maintained a discreet financial profile, has attracted scrutiny following their aggressive investment strategy, not only with Everton but across their portfolio of football clubs.

The ramifications of this lawsuit for Everton and its potential takeover are multifaceted. Firstly, it amplifies the existing apprehensions regarding 777 Partners’ suitability as future owners of the club, given the already existent stream of adverse reports associated with their name. The Premier League, which is in the process of conducting its thorough owners and directors checks, might view these developments unfavorably, impacting the final approval for the takeover.

Furthermore, the history of protests by fans of other football clubs under 777’s ownership, coupled with ongoing separate legal disputes since the commencement of the Everton takeover talks, accentuates the concerns about the group’s governance and financial transparency.

The duration the Premier League has taken to deliberate on this matter, alongside the gravity and multitude of concerns surrounding 777 Partners, strongly suggests that the investment group might face significant obstacles in their bid to take over Everton.

The timing of this lawsuit’s emergence is particularly inopportune for 777 Partners, coinciding with a crucial juncture in their takeover ambitions. The unfolding of legal proceedings in New York against them could potentially deter the Premier League from green-lighting their acquisition of Everton, one of its esteemed member clubs.

In light of these developments, 777 Partners have issued a response to address the latest concerns that have surfaced at Goodison Park, Everton’s home ground, as they navigate through this turbulent phase in their pursuit of the club.