Lyndon Lloyd 08/05/2024 3comments  |  Jump to last

The Everton Fan Advisory Board have joined the Shareholders Association in branding 777 Partners as unsuitable owners of Everton Football Club and urged Farhad Moshiri to open the door to other bidders as he seeks to sell his majority stake.

In a statement today, the FAB expressed their disappointment in the "predictable and cursory" responses they received in response to letters they wrote to Moshiri, 777 Partners and the Premier League in March and demanded an end to the "ongoing confusion and lack of transparency" around the Miami firm's takeover bid which has dragged on for almost eight months.

The FAB also called on the Premier League to reject 777 Partners to allow more suitable owners to enter the equation.

The League wrote to 777 earlier this year indicating that they were "minded to approve" their bid providing certain conditions were met, chief among them the repayment of £158m that MSP Sports Capital loaned Everton last year.

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With 777 facing financial challenges, including the collapse of their Australian budget airline, Bonza, while also being the subject of a lengthening list of lawsuits in the United States, there is growing concern about their suitability to own Everton and their ability to fund the deal in the first place.

The full statement from the FAB read:

In March 2024, the Fan Advisory Board wrote to Farhad Moshiri, 777 Partners and the Premier League, all of whom have a role to play in the proposed takeover of Everton Football Club. Each replied, but ultimately the responses were predictable, cursory and without rigour in terms of finding a satisfactory resolution to a process that  has now dragged on since September 2023.

This ongoing confusion and lack of transparency cannot continue.

Each party must recognise the role it is playing in sullying the reputation of one of the most storied clubs in English football history and appreciate that all the rumour and speculation is causing extremely high levels of anxiety and concern to the club's greatest assets: their fans.

In summary, the FAB demands:

Farhad Moshiri — recognise that now is the time for other bidders to be offered the opportunity to acquire Everton Football Club

777 — recognise that your inability to bring the funding necessary to consummate the original deal and the growing reputational damage you are incurring with lawsuit after lawsuit makes you unsuitable owners of EFC, and

The Premier League — recognise that it is time for you to live up to your responsibilities (as defined by the Owners and Directors Test in your own rule book) by rejecting 777 Partners in order to allow discussions with more suitable owners of our great Club.

 

Reader Comments (3)

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Danny O’Neill
1 Posted 08/05/2024 at 16:12:04
A total mess.

Well done to the FAB for speaking out at all parties.

Something needs to happen, even if that means Moshiri digging into his own pockets if he can.

Jerome Shields
3 Posted 08/05/2024 at 18:11:27
Whilst welcoming FAB intervention regarding Moshiri's poor and disrespectful communication with the fanbase and their official club representative body, FAB, they have to be careful not to suggest any operational decisions.

They could be giving Moshiri creditability that he does not have 'to invite other bidders. It may be that Moshiri has no say regarding the future finances of Everton, though it might like us to think so, never mind deciding who he is going to sell to. They are also giving 777 Partners the credit of not paying. It may be 777 Partners do not have the money to pay.

Regarding the Premier League, FAB maybe assuming that the Premier League has a remit it does not have. The Premier League is able to set conditions, but they can't enforce payment or ask that someone else is found who can pay. To be taken seriously, they have to know that.

The statement reeks of informed speculation. Alright when it is discussed and debated on ToffeeWeb, though they could find themselves under pressure, but in making a public statement, they need to be sure of their facts and who they are talking about.

Bring back Jazz Bal.

Jerome Shields
4 Posted 09/05/2024 at 06:16:38
Moshiri has no creditability to consider anything. We will get some bland statement which will mean nothing. He always reacts that way when fans start to protest. Confidentiality will be used as a brush-off.

He has shown a complete lack of awareness and capability throughout his Everton tenure. He is bullshit personified.

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