Kieran Maguire believes 777 Partners’ takeover of Everton could be a “positive step” after the two sides reached “advanced” talks over a deal.
The Miami-based investment firm and owner Farhad Moshiri are close to an agreement that would see them purchase 100% of the club, with Moshiri expected to earn just a “fraction” of what he put in to the club from the deal.
And while appearing on Sky Sports News (12 September) to react to the news, Maguire speculated that Moshiri has invested around £700m into Everton and that 777 Partners are likely looking to buy Everton as they are in “financial distress”.
“If it brings stability to Everton then I think that could be seen as a positive step,” he said.
“There have been a number of issues with regards to the funding of the club. Farhad Moshiri has probably put in around about £700m and hasn’t had a return either on or off the pitch, and there’s outstanding issues with regards to the continued funding of the new stadium.
“It’s trying to work out 777’s motives because this would be by far their biggest investment in football. They’ve not been successful historically and they do specialise in buying clubs who tend to be in a form of financial distress.
“Are 777 partners Evertonians? No, they’re not. They’re in it from a business perspective and therefore for any business investment you’re looking for a return on your investment.
“If they bring in improved standards with regards to player recruitment, and that’s reflected on the pitch, then they’ll probably be looking to sell it and flip it in a few years’ time at a profit with Everton as an established club in the top half of the Premier League, and under those circumstances, it would be worth a lot more money.”
777 Partners do not have a great record on or off the pitch with the multiple football clubs that they own, and Standard Liege fans even staged a demonstration against their ownership recently.
That is something we’re used to at Goodison Park, and while they may not be the perfect owners their arrival does at least signal the end of the Moshiri era.
As an owner he didn’t do much wrong as he had the right intentions and spent money, but his decision making was horrible and the decision to go against the fans was never going to be one that went well for him.
The hope for Everton fans would be that Maguire’s prophecy of their plan for the club comes to fruition. They get us established in the top flight again, sort out our financial mess and then sell us to someone else who loves the club and wants to make us successful rather than make a quick buck.
It could obviously go the other way too, but we can’t put that negative energy into the air. It’s gone on long enough, and all we can do now is wait and see how it plays out.