West Ham appears to have dodged a bullet by avoiding selling to US investment firm 777 Partners.
Claret and Hugh reported last year that there was interest from the Florida-based firm in acquiring the Hammers. Writing in May last year, we said, “It seems as if any team will do for 777 Partners as they pursue a West Ham takeover.”
“It’s reported the Miami-based investment firm has £600 million to spend on a club, so The Hammers are in their crosshairs. Well, not just West Ham, to be precise. It’s believed that 777 Partners want to buy any Premier League club.”
At the time, it seemed desperate and scattergun, and now it appears the firm is struggling to finance the Everton takeover.
West Ham have made a lucky escape but poor old Everton are in limbo
Everton may have to wait until the season’s end for a potential takeover by 777 Partners, as the firm rushes to secure the substantial funds needed for the acquisition.
The US private investment firm, initially planning to finalize its £500 million purchase of Farhad Moshiri’s stake by this week’s end, is now seeking to postpone the repayment deadline for a nearly £160 million loan to Everton, a factor pivotal to the deal’s success.
This protracted delay in sealing the agreement made with Moshiri nearly seven months ago comes after the Premier League set a firm ultimatum, attaching stringent conditions to the purchase. This move reflects the league’s concerns over 777 Partners’ financial liquidity and ethical conduct, allegations the company has consistently refuted.
Bullet well and truly dodged, methinks.