Bad news claim issued on Everton takeover by 777 Partners with fans worried

Paul Brown claims that the 777 Partners’ proposed takeover of Everton has not fallen through despite allegations of fraud.

The investigative journalist believes that a lot of “bad news” stories surrounding the Miami-based firm will continue to appear.

However, he is of the belief that a better outcome will be reached by the Toffees.

Via Twitter, Brown wrote: “Absolutely not (takeover falling through). You may see an avalanche of what appear to be “bad news” stories before things improve but I remain more confident than ever that the right decisions will now be made by the relevant parties to secure the club’s future. This was not the case previously.

“Fans absolutely have a right to be worried. And I understand it’s the reason for all the abuse I get. I’m just trying to offer some reassurance that while the situation may seem bad, I personally believe that we have reached a point where we will arrive at a better outcome.”

777 Partners may not get approval to complete Everton takeover

Given the allegations of fraud against 777 Partners, the Premier League’s approval for the takeover of the Toffees seems unlikely. The accusations, which involve a lawsuit accusing 777 Partners and its co-owner of a fraudulent scheme, raise significant concerns about the group’s financial stability and integrity.

Such legal issues could potentially deter the Premier League from granting approval, as it has stringent regulations to ensure the financial health and sustainability of clubs.

The Premier League’s Owners and Directors Test sets high standards for prospective owners, including a requirement for financial transparency and the absence of any legal or regulatory issues that could impact the club’s reputation.

Given the gravity of the allegations against 777 Partners, it is unlikely that they would pass this test without resolving the legal disputes. Furthermore, the involvement of a distressed debt firm and the failure to meet financial obligations in the past could also be viewed negatively by the Premier League.