Building New Stadiums (no replies)
777 Partners’ deal to buy Everton football club has collapsed just weeks after the Miami investment firm denied accusations of fraud and called in restructuring experts to help with what it called “operational challenges”.
Everton said on Saturday that the sale and purchase agreement for 777 to buy the club from British-Iranian owner Farhad Moshiri had “expired”.
The club said it would “continue to operate as usual” as it works with the majority shareholder “to assess all options for the club’s future ownership”.
The collapse of the 777 deal comes after months of scrutiny as the group’s reinsurance business unravelled.
It leaves Moshiri to complete the final stages of construction of a new stadium that the club hopes will bring in much-needed revenues after its debts mounted.
Everton said on Saturday that the sale and purchase agreement for 777 to buy the club from British-Iranian owner Farhad Moshiri had “expired”.
The club said it would “continue to operate as usual” as it works with the majority shareholder “to assess all options for the club’s future ownership”.
The collapse of the 777 deal comes after months of scrutiny as the group’s reinsurance business unravelled.
It leaves Moshiri to complete the final stages of construction of a new stadium that the club hopes will bring in much-needed revenues after its debts mounted.