Keith Wyness stunned by Everton takeover bombshell – ‘unlike anything I’ve seen’
Former Everton chief Keith Wyness has insisted he remains “very concerned” about 777 Partners’ ability to buy the club after a new bombshell report.
Speaking on the new edition of Football Insider’s Inside Track podcast, the 66-year-old – who served as CEO at Goodison Park between 2004 and 2009 and now runs a football consultancy advising elite clubs – insisted the noise around the Toffees’ buyout is “unlike any takeover bid I’ve seen”.
A report from Josimar (5 March) has recently claimed 777 Partners owed a total of $3.6 billion to creditors in the summer of 2023.
It was also claimed that the US-based investors were overdue on debt-related payments totalling over $145million.
777 agreed to buy Everton from Farhad Moshiri back in September, but have been waiting for Premier League approval for nearly six months.
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Since September, they have supplied nearly £200million in loans to the Toffees to help with operating costs and stadium construction fees.
Wyness told Football Insider‘s Insider Track podcast: “$3.6billion is apparently the level of debt 777 Partners had when they launched the Everton takeover bid.
“That’s a big number, and it’s very concerning.
“It’s a lot of noise around the bid, a lot of media reports on issues with 777 and their funding.
“The Financial Times have reported recently that the funding is unravelling. In one lawsuit, 777 were described as a house of cards.
“Of course, those reports are concerning. 777 continue to stake its case for approval, but the noise around this is unlike any other takeover bid I’ve seen.
“Is it the case that there’s no smoke without fire?
“777 claim it is, they say there are vested interests behind the noise. But it’s very hard to take that at face value when you see all these reports from skilled financial journalists.
“There do appear to be structural issues in the financing of 777.
“They remain adamant they will be accepted, but the Premier League have to be sure they are right to reject them – because a litigious company like 777 will certainly resort to legal means.”
In other news, Everton line up summer replacement for Jarrad Branthwaite.
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