Government reveal fears over Everton agreeing a deal with 777 partners
Government reveals fears over Everton agreeing a deal with US firm 777 partners as the Premier League side’s hunt for investment faces yet another setback
- Whitehall officials discussed 777’s suitability for buying into the Premier League
- Everton suffered a blow when MSP Sports Capital withdrew from negotiations
- Would Mohamed Salah ‘do the dirty’ on Liverpool by leaving? And what about Man United ‘diving’?: Listen to ‘It’s All Kicking Off’ , Mail Sport’s new podcast
Everton’s hunt for investment is facing another setback after Government officials expressed concerns over the club agreeing a deal with US firm 777 Partners.
Whitehall officials have discussed 777’s suitability for buying into the Premier League and whether managing partner Josh Wander would pass the owners’ and directors’ test.
It comes after Everton suffered a significant blow last week when MSP Sports Capital withdrew from exclusive negotiations over a proposed £150million injection.
Toffees owner Farhad Moshiri has since resumed talks with 777, who had seen their offer of investment rejected in favour of MSP’s bid in May. The Government’s concerns about 777, who already have stakes in seven clubs including Sevilla, Genoa and Hertha Berlin, centre on their ongoing involvement in several court cases in the United States.
In addition to Wander pleading no contest for drug offences in 2003, 777 and sister company Sutton Park have been accused of multiple cases of fraud, offering illegal loans and failing to pay bills totalling hundreds of thousands of dollars.
Government officials expressed concerns over Everton agreeing a deal with US firm 777 Partners
Toffees owner Farhad Moshiri (centre) has resumed talks with 777, who had seen their prior offer of investment rejected in May
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The alleged offences have been detailed in Josimar magazine, with proceedings still active in several cases.
The Government lack the power to block investment in clubs until a proposed new independent regulator is established, but are ready to raise the issue with the Premier League if a deal is agreed between Everton and 777.
The Premier League strengthened their owners’ and directors’ test earlier this year by increasing the list of disqualifying events to include offences such as violence, fraud and corruption, as well as bringing in new powers giving them the right to stop individuals becoming directors if they are under investigation for these offences.
It is unclear at this stage whether 777 would seek to make Wander a director at Everton, although the provisional deal which the club had agreed with MSP Capital included two seats on the board at Goodison.
Staff at UK Sport, the body responsible for administering funds to Olympic sports, have also expressed concerns about 777.
They had dealings with the Miami-based company through their involvement in basketball, as 777 bought a 45 per cent stake in the British Basketball League last year.
Everton and 777 both declined to comment.
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