Everton’s 777 Partners takeover faces new uncertainty as club seeks insolvency advisors – Mirror Online

Everton’s proposed takeover by 777 Partners has been placed in further doubt after an airline owned by the American group was placed into voluntary administration. Australian budget airline Bonza, entirely owned by 777, was plunged into administration on Tuesday, leading to the grounding of all flights and repossession of the company’s four Boeing 737 aircraft, leaving hundreds of passengers stranded.

The Goodison Park club is reportedly calling in insolvency advisers as the planned deal continues to drag on without resolution. This comes more than seven months after 777 declared it had struck an agreement to buy Farhad Moshiri’s 94.1 per cent stake in the club.

Neither Everton nor 777 have commented on the latest developments. 777 has a history of acquiring controlling stakes in various football clubs, including Genoa, Standard Liege, Red Star, Hertha Berlin, and Vasco da Gama.

In addition, it holds minority shares in Sevilla and Melbourne Victory, and has guided the British basketball team London Lions to success. However, some of its clubs have faced financial challenges, with ex-Newcastle star Isaac Hayden stating in January that he would be suing 777 due to unpaid wages during his time with Standard Liege.

Despite Everton sealing their top-flight status by winning four of their past five games, they were dealt a six-point deduction for breaching the Premier League’s Profit and Sustainability Regulations. This off-field uncertainty continues to create an unclear picture for the club’s future.

In the midst of these developments, 777 has yet to provide a public update on the situation with the takeover and the impact on the proposed deal with Everton.

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