Ex-Everton CEO: ‘I know of’ multiple investors willing to hijack a takeover and’save’ the club in a ‘last-minute deal’
Ex-Everton chief executive Keith Wyness has revealed that if the 777 Partners deal falls through, multiple groups are ready to “save” the club.
The 66-year-old, who was CEO at Goodison Park from 2004 to 2009 and now runs a football consultancy advising elite clubs, believes the Toffees’ under-construction Bramley-Moore Dock stadium will attract buyers despite the club’s dire financial situation.
777 Partners, a US-based investment firm, reportedly agreed to buy Farhad Moshiri’s 94.1% stake in Everton in September for more than £500 million.
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However, new doubts have been raised about 777’s ability to complete the takeover, as the Premier League, Financial Conduct Authority, and Football Association have yet to approve the deal.
Following Everton’s shocking 10-point deduction, Football Insider revealed last week (November 22) that the Miami-based firm is preparing to re-enter negotiations over the price of the club’s takeover.
The new 52,888-seater stadium for the Toffees, which could cost more than £750 million, is set to open in late 2024.
“If the takeover does fail, it will be interesting to see if Moshiri can actually re-invest,” Wyness said exclusively on Football Insider’s Inside Track podcast.
“I’m not sure if he’s selling because he has nothing else to give – that’s one line of thought.”
“I think the new stadium could be interesting.” The cost of that stadium has caused all of these issues, but it may actually be what saves Everton.
“There are [investment groups] out there who are interested in the club and the stadium asset that I am aware of.”
“I believe there will be last-minute deals if the 777 Partners deal falls through.”
“I saw this at Aston Villa when we were struggling with a lack of funding from a Chinese owner.”
“Because it was such a high-quality asset, there are always buyers.”
“I believe Everton will be the same, especially with the new stadium.”
“There will be some frightening moments, but I believe a very good owner will emerge from the shadows.” At least, that’s my hope.
“The serious, qualified buyers will sit back and watch, hoping to negotiate a lower price for the club.” That is how businesses grow to be extremely successful.
“In particular, American investors.” There’s no need to rush in right now; why would you?
“Why would you rush in with the 777 situation and the points deduction?” If you’re wise, you’ll sit and wait.”
