Finance expert Kieran Maguire has warned that 777 Partners may pursue legal action against Everton after their takeover deal expired at the end of May.
Despite the expiration of the exclusivity agreement, 777 Partners may not go quietly, and their next steps will depend on the “small print” in their contract with chairman Farhad Moshiri.
Everton is now free to explore alternative takeover deals after 777 Partners failed to meet the Premier League’s conditions and provide proof of funding since their agreement in September.
However, 777 Partners did loan over £200million to Everton during the takeover process to cover operating costs and stadium construction fees.
Maguire believes that 777 Partners may enjoy litigation and operating in a chaotic manner, but their lack of professionalism has caused consistent delays. If they had provided proof of funds, the deal would have been completed months ago.
While Moshiri is not popular with the Everton fanbase, he is only guilty of taking the initial bid.
Maguire told Football Insider’s Sean Fisher, “A lot will depend on the small print in the contract between Farhad Moshiri and 777. They seem to enjoy the thrill of litigation and operating in a chaotic manner.
But they have only themselves to blame for the takeover not being completed.” Everton may yet face legal action from 777 Partners, but the club is now free to explore other takeover options.