The Esk slams Farhad Moshiri amid Everton takeover and 777 Partners chaos
The Esk has slammed Farhad Moshiri for further kicking the can down the road with regards to 777 Partners and the Everton takeover.
Moshiri claims that he is unable to contact other parties due to an agreement with the Miami-based investing firm.
That will only be valid until 31 May and Esk believes that 777 will have insisted on such a provision but that they look no closer to being able to shell out the funds to complete the takeover.
He wrote in his blog on 27 May: “The Fan Advisory Board requested a meeting with Farhad Moshiri in February which was ultimately held in mid-May.
“In the meeting, it is reported that Moshiri apologised for the delay in engaging with the Fan Advisory Board and for the lack of regular communication with fans generally, insisting whilst bound by the terms of the share purchase agreement (SPA – valid until 31 May 2024) he could provide no detail of the status of the proposed sale to 777 Partners other than he had been approached by other parties regarding the sale of the club.
“It seems extraordinary to me that under Moshiri’s ownership (I am ceasing to use the word leadership any longer) that we find ourselves in the position we are in.
“Moshiri claims that up to the 31st May, he can’t talk to other parties because of the share purchase agreement. No doubt, back in the late summer of 2023, when this deal was cobbled together, 777 Partners will have insisted on such a provision given that they were (as they hoped) funding cash flow for a short period in expectation of a speedy approval.
“As we all now know, that approval has not been forthcoming, not as a result of the Premier League per se – (although the DAOT is surely not fit for purpose), but as a result of 777 Partners inability to meet the initial requirements and then the further requirements, the so-called “minded to approve” conditions at the end of March 2024.”
Farhad Moshiri must accept 777 Partners have no chance of taking over at Everton
Moshiri must recognise that 777 Partners’ takeover of the club is unlikely to materialise as they have faced severe financial challenges, including allegations of fraud and a lawsuit in New York, casting doubt on their ability to meet financial obligations.
Additionally, the Premier League’s conditions for the takeover, such as repaying a £158million loan and providing evidence of funding for the club’s future, have not been met.
This indicates that 777 may not have the necessary resources or stability to manage a Premier League club like Everton.
Moreover, 777’s involvement with other football clubs has raised concerns.
For instance, Standard Liege, one of their existing clubs, has been informed that there is no money to pay them until the end of the season, suggesting financial mismanagement.
This, coupled with the growing reputational damage and the lack of clarity about 777’s financial status, makes them unsuitable owners for Everton.
Hopefully, in June, a clearer indicator will emerge as to who the likely new owner will be.
Leave a Reply