Kieran Maguire urges Premier League to 'protect' Everton from takeover deal
The Premier League needs to ‘protect’ Everton by putting their new owners through a ‘forensic’ Owners’ and Directors’ test.
That is the view of finance expert Kieran Maguire, who exclusively told Football Insider that the background of 777 Partners and the source of their money needs to be investigated.
The Toffees confirmed via a club statement on Friday (15 September) that 777 Partners had struck a deal with Farhad Moshiri to acquire his majority stake at Everton.
Everton is set to become the latest club to join 777’s ownership portfolio alongside Hertha Berlin, Sevilla, Genoa, and others.
However, the US investment group has a controversial background, with the owners currently facing charges of fraud and extortion.
All Premier League takeovers are subject to the Owners’ and Directors’ Test, which underwent a number of changes in March that introduced club Chief Executives being included in the process.
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Maguire insists 777 Partners will need an ‘awful lot of cash’ to acquire a club that would be the ‘biggest jewel in their crown’.
“I think it will be a slow and forensic process,” Maguire told Football Insider’s Sean Fisher.
“The Premier League has to protect its reputation and brand, but it also has to protect Everton football club.
“Therefore, I think it will go through the process appropriately to make sure that the key elements of the Owners’ and Directors’ Test are done.
“Firstly that includes looking at the backgrounds of individuals and then from a corporate point of view and whether 777 Partners have the money and where that money has come from.
“Both Josh Wander and his partner both seem to indicate that they have produced the funds themselves rather than rely on third-party sources.
“Everton would be the biggest jewel in 777’s crown if they do complete the takeover, and it’s going to be expensive.
“Even if the price of buying the club isn’t particularly high, they will inherit debts and the ongoing commitments for the new stadium which will require an awful lot of cash.“
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