Everton shareholders have voiced strong concerns over the proposed takeover by 777 Partners citing accusations of fraud against the company. Despite an agreement reached eight months ago, 777 Partners has struggled to meet the Premier League criteria for the takeover including repayment of loans and passing ownership tests. A lawsuit filed in New York accuses 777 of fraudulent activities, raising doubts about their ability to fund the acquisition of Everton.
Additionally, other problems in 777 portfolio such as the voluntary administration of Bonza airline and legal actions related to Standard Liège takeover, further highlight the uncertainties surrounding the company. Everton shareholders including the Everton Shareholders’ Association (EFCSA) have criticized Farhad Moshiri and the Premier League for prolonging the takeover process calling for immediate action to end the damaging saga.
Despite these concerns, Moshiri maintains that 777 Partners are the right partners for Everton. The Premier League declined to comment on the lawsuit and its implications for 777 takeover.
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