News update: 777 collapse amid Everton takeover claim lawsuit with Liverpool link.

According to a US lawsuit, 777 Partners’ persistent attempt to buy Everton has caused their “house of cards” to begin

“crumbling down”.

On March 8, The Athletic’s Matt Slater reported on the outlet’s website that Obra Capital, a company owned by

RedBird Capital Partners, is seeking “punitive damages” from the Toffees’ prospective owners amid a dispute over a

debt repayment from what was originally a $55 million [£42 million] loan, as well as allegations that 777 attempted

to “shield” assets from creditors.

According to documents filed with the Supreme Court of the State of New York on March 7, the still-pending

takeover attempt at Goodison Park is part of a “flashy shopping spree” within football, and the fact that it has not

been approved raises concerns about the company’s finances, which “it has not been able to answer.”

The lawsuit stated that “with this enhanced scrutiny, 777’s house of cards began crumbling down,” while also noting

that nine legal claims had been filed against the corporation in the previous year, totaling more than $100 million

[£77.8 million].

Obra’s owners, RedBird, also own AC Milan and Toulouse, as well as a minority position in Liverpool.

777 refuses to comment on the case and has previously dismissed legal concerns as “baseless or opportunistic”.

Merseyside Derby factored into 777 court case amid Everton takeover delay

All lawsuits will sound bad; otherwise, they would not have gotten to that point in the first place; yet, while one or

even a couple may be dismissed as “baseless” or “opportunistic,” nine becomes a pattern.

777 will fight their case, and until a ruling is reached, it is uncertain who is correct in this matter, but engagement in

this type of activity will raise red flags about the takeover.

Aside from this legal fight, Everton must be critical to the American firm’s business, else they would not have been

waiting for months while providing about £190 million in loans to date.

Josh Wander believes the Premier League delay is due to the club’s continuous earnings and sustainability concerns,

but legal issues must also be a factor.

Perhaps the issue is far enough distant from the Toffees to be overlooked, but the fact that the completed takeover is

being directly addressed in a court argument over the would-be newest owners’ finances implies that it is not

unimportant at all.

In other Everton news, an ex-Toffees star believes the “very aggressive” scenario he was in at Goodison Park caused

his new teammates to “hate” him.

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