'Big week' for Everton due to £40m problem & A-Cap fraud accusations amid takeover saga - report
Paul Brown claims that next week is another big one for Everton as they are due £40million and there is no indicator of where it... The post 'Big week' for Everton due to £40m problem & A-Cap fraud accusations amid takeover saga - report appeared first on Goodison News.
Paul Brown claims that next week is another big one for Everton as they are due £40million and there is no indicator of where it is coming from.
This comes after the Telegraph reported on 12 June that Farhad Moshiri is considering A-Cap as one of the more serious candidates to complete the takeover.
The New York-based insurance company are accused of fraud, fighting ratings downgrade and is under pressure from regulators, among other things.
Via Twitter, Brown, a journalist for Josmiar wrote: “A-CAP is
- fighting a killer ratings downgrade
- accused of fraud
- under pressure from regulators
- facing massive write-downs
- & by its own lawyer’s admission the “very existence” of its business “hangs in the balance.” Yet King remains in takeover talks with Moshiri
“Next week is another big week for Everton because the next £40m or so in outgoings is due and nobody is yet sure who will be paying it. Deloitte continues to do due diligence on rival bidders, but some are more credible than others.”
A-CAP might just be another 777 Partners for Everton
A-CAP’s potential involvement in the club’s takeover raises significant concerns, drawing parallels to the previous engagement with 777 Partners.
The company is currently grappling with serious issues, including a ratings downgrade, accusations of fraud, regulatory scrutiny and substantial financial write-downs.
These challenges cast doubt on its ability to provide the stability and financial support Everton desperately needs.
The ongoing legal and financial uncertainties surrounding A-CAP suggest that it might not be a reliable partner for the club.
The Merseyside club’s recent history with 777 Partners, a deal fraught with complications and ultimately unsuccessful, underscores the risks of aligning with financially troubled entities.
Many are hoping that this is not another problematic chapter for the club, but a legitimate solution to their financial woes.
In other Everton news, a £400m update has emerged on the Toffees takeover as Middle Eastern interest in the club revealed.
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The post 'Big week' for Everton due to £40m problem & A-Cap fraud accusations amid takeover saga - report appeared first on Goodison News.
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