Everton: New report paints grim picture of 777 Partners’ finances

777 Partners agreed a deal with Farhad Moshiri in September to buy his 94 percent stake in the club. 

But the American investment firm are yet to complete the takeover as the sale requires approval from the Financial Conduct Authority. 

Reports last month claimed the company’s takeover bid has stalled as they have failed to provide audited financial statements to the British regulator. 

It now emerges that the finances of the club’s prospective new owners are in a worse condition. 

According to a report from Josimar, the 777 Group – made up of 777 Partners and its sister company 600 Partners – lost almost $600 million from June 2021 to June 2022. 

It is said that these numbers haven’t been submitted to the regulators and cast doubt on their ability to finance the proposed purchase of Everton. 

These losses are said to have been due to punishing debt repayments, and “unrealized change in fair value of financial assets.”

The Toffees are also awaiting to discover whether they will be punished for allegedly breaking the financial fair play rules. 

The Premier League has recommended that the Toffees face a 12-point deduction, but an independent commission will decide their punishment. 

Points deduction would be a big blow for Everton who have barely managed to survive in the English top-flight last season. 

They will likely get relegated if they receive the severe punishment recommended by the Premier League.