Everton takeover: Qatar interest 'could emerge this week' amid 777 Partners 'fraud' allegations

Everton could soon receive interest from alternative bidders as their prospective takeover by 777 Partners has been cast into further doubt.

The Miami-based firm are facing accusations of fraud, according to the Financial Times. 777 and co-founder Josh Wander are said to owe $600 million in debt to London asset manager Leadenhall Capital and Leadenhall Life. A case has been filed to a federal court in New York.

777 agreed to purchase Everton majority owner Farhad Moshiri’s 94.1% stake in September 2023 and hoped to complete the takeover in the final quarter of the year. But seven months later, the Premier League are still to ratify the deal, despite 777 loaning the Blues around £200 million for running costs. What’s more, 777-owner Australian airline Bonza entered voluntary administration last week.

Deloitte have been acting as financial advisors for Everton to attract new investment opportunities. And according to iNews, sovereign wealth funds of several Gulf nations, including the Qatar Investment Authority, have been contacted. It is reported that the stalling 777 takeover could see ‘alternative bidders emerging as soon as this week’.

Everton have endured a turbulent period off the pitch, with their latest accounts reporting losses of £89.1 million for 2022-23 as the club continues to build the new stadium at Bramley-Moore Dock. However, iNews suggests investors could be attracted by the earning potential of the ground on the Liverpool waterfront, which is due to open for the start of the 2025-26 season.

Everton manager Sean Dyche said last week on the protracted takeover saga: “We're still waiting on more news. I've spoken very openly about the simplicity of it. I met with the group once. That hasn't changed, I'm just waiting on more news.

“It's out of my hands. I’m just waiting to see what the news brings. The powers that be here will be operating at that level.”