Kieran Maguire: Everton face new takeover 'red flag' as big development emerges online
777 Partners suffering a major credit ratings downgrade this week is another ‘red flag’ for Everton to consider.
That is the view of finance expert Kieran Maguire, who spoke exclusively to Football Insider about the importance of ‘financial credibility’ in the potential new Toffees owners.
It raises more concerns over the reliability of the US-based investment group as they inch closer to completing a takeover of Everton.
The Merseyside club announced in September that club chairman Farhad Moshiri signed an agreement to sell his 94 percent stake in the club to 777 Partners.
However, the acquisition has been delayed with the Premier League assessing the credibility of the new ownership group.
Maguire says there has been ‘one bad news story after another’ in regard to 777 Partners so it is no surprise that the Premier League are taking a ‘forensic’ approach.
“Yes, this does look like another red flag,” Maguire told Football Insider’s Sean Fisher.
“I think the financial credibility of any owner is critical, especially for a club as senior and as prestigious as Everton Football Club.
“Therefore, appropriate scrutiny is absolutely essential.
“There seems to be one bad news story after another with regards to 777.
“But there’s a willing seller and a willing buyer, and it’s down to fans and journalists to provide the scrutiny at present.
“I’m sure the Premier League is taking a very forensic approach because it’s still trying to delay and discredit the independent regulator.
“If it was seen to give a green light to 777 with a light touch approach, that would add further evidence that a regulator would be beneficial.“