The Everton takeover faces ‘another red flag’ as 777 Partners are hit with a new £24million lawsuit.
That is the view of finance expert Kieran Maguire, who exclusively told Football Insider that 777 being accused of more unpaid fees is not surprising.
As reported by Reuters, three aircraft lessors have sued 777 Partners for $30million (£24million) for missed payments.
The US group agreed a deal with Farhad Moshiri to buy his majority 94 percent stake in Everton back in September, but they are still awaiting approval from the Premier League.
They have since provided over £140million in loans to the Merseyside club to help with stadium fees and operating costs.
Maguire believes 777 Partners are ‘haemorrhaging money’ from their previous football investments.
“Another day, another debt appears to be the motto of 777 Partners,” Maguire told Football Insider’s Sean Fisher.
“The issues with regards to their unpaid leasing fees come as no surprise given the company’s background in aviation, which is a struggling industry at present.
“Their football operations have failed to turn around any of the struggling clubs they initially acquired and therefore they’re haemorrhaging money as well.
“I think it is another red flag and there are a lot of concerned people, both supporters and elsewhere, who are very wary about 777’s ability to raise funds.
“Everton fans acknowledge that the Farhad Moshiri regime has been benevolent but not organised.
“That’s why the club has failed to convert the £750million he’s put into the club into the level of success that you’d expect from a club with the tradition and heritage of Everton.“
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