Dan Plumley believes 777 Partners’ attempts to receive a loan from Blue Owl Capital is yet another “warning sign” in the Everton takeover.
The US investment firm has entered into talks with the private markets investor about a potential £360million loan, tied to the Toffees’ new Bramley-Moore Dock Stadium to save its takeover of the club.
The football finance expert admitted that the development suggests 777 doesn’t currently have the working capital to complete the deal on Merseyside. I think given the context of what’s gone before, that’s where the question marks and warning signs are being raised,” he exclusively told Goodison News.
Borrowing money and investing is not a bad thing per se and millions of businesses do this every day. But the problem with this particular example is the way the takeover has dragged on and the issues surrounding the initial investment and money.
There are also some of the other connecting businesses that link to 777, some of the payment deadlines that have potentially been missed, and the whole story around the wider finances of 777 and the businesses they’re connected to.
The situation with the MSP loan, which again has got an extension, and the parties that they owe money to – all those things create the picture of this being another warning sign.
In the context of borrowing, it’s normal business practice. But given everything that’s gone before, it is another flag certainly in the way we’ve seen this information delivered to think the working capital is not quite there for 777 at the minute to push through some of those things that are needed.
This is just another piece of news that perhaps just keeps the question mark in a lot of peoples’ minds.
Do 777 Partners have the finances to complete Everton takeover? This development potentially poses another question mark over how 777 is going to finance a takeover at Everton after the situation has dragged on for several months.
As Plumley points out, it suggests that the group doesn’t currently have the necessary working capital to push through the deal.
That isn’t what the Premier League will want to see after laying out several conditions the firm must meet to complete the takeover at Goodison Park.
