9 months ago
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talkSPORT's Simon Jordan has issued a strong warning to Everton fans regarding their incoming takeover from 777 Partners.
The Toffees announced in September that the US-based private investment firm agreed to purchase Farhad Moshiri's majority shares.
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777 Partners will acquire a 94.1 per cent stake and therefore majority control at Everton when their takeover has been finalised.
Majority stakes have been purchased by the firm in other European clubs including Italian club Genoa and Belgian side Standard Liege, with a minority stake also being held in Spanish outfit Sevilla.
However, they have had to previously rubbish suggestions their takeover is on the verge of collapse and former Crystal Palace owner Jordan has hinted it's 'not a good transaction' for Everton.
He also questioned their income's validity on White and Jordan, saying: "Well the process is you have to look at the money and look at who's bringing the money in.
"There's a lot to be said about this 777 Capital because if you look behind the scenes at where this money is coming from, I'm not even entirely sure the money they lent Everton is theirs. I think it comes from an insurance company that's underwriting some of the debts that this 777 Capital have got.
"There's a restructuring of their entire asset base including the football clubs that they own and Everton is being used to justify some of the funding they've got on other football clubs. So if I'm an Everton fan, I'd be very worried and I think they are.
"Talking to the fella that I was talking to at the weekend who, by the way, is a multi-multimillionaire so he knows what he's talking about... [Why doesn't he wade in?] Because he's sensible.
"Years ago I talked to him and one of his other colleagues, who's a billionaire, about owning a football club and they're like, 'Well you know, we're not all mad like you Simon. If we want to support a football club we'll buy a season ticket.'"
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He added: "This is a challenging one because Moshiri is the person that's selling the football club, he's the one that wants away from it,
"He doesn't care really, despite his protestations about wanting to hand it over to the best stalwarts for the club going forward, he's done his commercial deal, off he goes into the sunset.
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"It then becomes about the Premier League being able to make sure that every aspect of the takeover meets all of the requirements. The origin of funds, the mechanisms that are being deployed, why these people are buying the football club, what their plans are going forward.
"And with this group of people, if you look into their background and I did some reading over them over the weekend just by chance because I came across something talking about how they're funding the debt that they put into Everton.
"What that's costing Everton and why that funding is in place in the first place and what it's propping up for 777 Capital in terms of their other acquisitions, Standard Liege and other football clubs that they've got.
"This does not look like a great transaction for Everton Football Club. It looks like a good transaction for 777 Capital, which of course it should be because they don't want to buy something that's a pup for them. But Everton have got to look, they're out of the frying pan here and they may just be in the fire."
Amid the wait over their takeover, Everton are also set to be told if their appeal against their ten-point Premier League deduction for breaching financial rules is successful in the coming days.
Sean Dyche's side dropped into the relegation zone as a result but have since risen out of it, although they could face another deduction this season for a second charge.
