777 Partners seem to “enjoy litigation” and could pursue legal action after their Everton takeover deal expired at the end of May.
That is the view of finance expert Kieran Maguire, who exclusively told Football Insider that the actions of 777 Partners will now depend on the “small print” with chairman Farhad Moshiri.
The US group failed to meet the conditions laid out by the Premier League and failed to provide proof of funding since their agreement was struck in September.
However, 777 loaned over £200million to Everton during the takeover process to help cover operating costs and stadium construction fees.
Maguire explained that the US group may not go quietly after their takeover deal expired but added that they only have themselves to blame for a takeover not being completed.
Everton may yet face 777 legal action after deadline expired
“A lot will depend upon the small print in the contract between Farhad Moshiri and 777,” Maguire told Football Insider’s Sean Fisher.
“You would think that 777 have got enough problems to deal with at present given their spectacular mismanagement of businesses in other industries.
“But they are an organisation who seem to enjoy the thrill of litigation and operating in a chaotic manner.
“They certainly have not helped themselves with their lack of professionalism with regards to this potential takeover.
“If they had managed to provide proof of funds then this deal would have been sorted out months ago.
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“There has been a consistent delay coming from the 777 end and while Moshiri is not popular with the Everton fanbase, he is only guilt of taking the bid in the first place.“
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However, 777 loaned over £200million to Everton during the takeover process to help cover operating costs and stadium construction fees.
Maguire explained that the US group may not go quietly after their takeover deal expired but added that they only have themselves to blame for a takeover not being completed.
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