Paul Brown shares if new 777 move will impact Everton in short-term

777 Partners’ decision to file motions to dismiss the Leadenhall case will have no short-term impact on Everton, according to Paul Brown.

The Miami-based investment firm, which had previously agreed a deal with Farhad Moshiri to purchase the Toffees, has been accused of operating a fraudulent scheme by Leadenhall Capital Partners and Leadenhall Life Insurance Linked Investments Fund [Bloomberg, 4 May].

777 have moved to dismiss the allegation in court with the case now expected to take months to resolve, but journalist Brown insists it will not affect the Blues or any other clubs under the 777 Partners umbrella.

Writing on X on Sunday (11 August) he said: “777/A-CAP etc have filed motions to dismiss the Leadenhall case. Leadenhall was expecting this. These motions will have no short-term impact on Everton or 777’s clubs.

“Case is still likely to take months to resolve. 777’s motion says opposition papers must be filed by Sep 27, and reply papers by Oct 18. Most observers believe Leadenhall’s claim is strong.

“Attempts by A-CAP to settle have so far failed. Most interesting thing here is that the defendants are now all using different lawyers.”

What happened with Everton and 777 Partners’ takeover?

Every Everton supporter would have hoped that they’d heard the end of 777 Partners after their takeover bid collapsed earlier this year, but unfortunately, the Toffees are still tied to the Miami-based firm in more ways than one.

Sean Dyche’s side still owes money to the American company, something that has proven to be an issue when searching for a new buyer and that means they do have an interest in what happens to the company.

The positive side of that is the fact that the new updates around the firm don’t seem to pose any real threat at Goodison Park. But that could change at the drop of a hat depending on what happens in the case.

Hopefully, the Toffees will have sorted out their own ownership situation by the time that this case is resolved so they at least have some solidity at a boardroom level to help through what may be a difficult period.

In other Everton news, the Friedkin Group are ready to negotiate with John Textor after a £200million takeover update emerged

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