Everton’s search for new ownership has hit another setback as potential buyers, investment firm 777 Partners, faced setbacks in both Brazilian and Belgian football. The firm’s leaders, Josh Wander and Steve Pasko, were recently removed from the 777 board, raising questions about their ability to acquire the club.
In Brazil, a court suspended 777 Partners’ ownership of Rio-based Vasco da Gama and called for an independent examination of their financial accounts. This move came as a result of allegations of outstanding debts from their takeover in 2022. The Brazilian court’s decision adds another layer of uncertainty to Everton’s ownership situation.
Meanwhile, in Belgium, 777 Partners’ stake in Standard Liege was seized by the Belgian judiciary. This action was taken due to the same allegations of unpaid debts. It appears that the investment firm is facing financial challenges that are affecting their ability to meet the Premier League’s financial demands.
Despite these setbacks, Everton owner Farhad Moshiri remains committed to finding new ownership for the club. Moshiri has been actively seeking investment to help propel Everton forward, but so far, no suitable buyers have emerged. The club’s Premier League status has been secured, albeit with some points deductions along the way.
Off the pitch, Everton continues to face challenges with the construction of their new stadium at Bramley Moore Dock. The completion of the stadium is behind schedule, and the funds for the next stage of development have not been secured. This poses further obstacles for the club as they strive to modernize their infrastructure and compete with other top Premier League teams.
As Everton approaches the end of the Premier League campaign, they will face Arsenal in their final game. While their league status is secure, it remains to be seen what the future holds for the club in terms of ownership, financial stability, and infrastructure development.
Overall, Everton’s journey towards new ownership has encountered significant hurdles with 777 Partners’ setbacks in both Brazil and Belgium. The club’s owner, Farhad Moshiri, remains determined to find a suitable buyer, but the challenges continue to mount. Additionally, the construction of their new stadium remains a concern as funding for future development stages is yet to be secured. Everton fans will be hoping for positive developments in the near future to ensure the club’s long-term success.