The Esk has replied to a “fascinating” development involving 777 Partners, which may have a bearing on Everton’s takeover issue.
The financial expert was responding to quotes from Kenneth King’s A-Cap webinar this week in which 777 was informed its exposure would be reduced to zero within 60 days.
King, via a network of insurance and investment firms, has lent 777 millions of dollars. However, given this update, that is now expected to change.
After transcribing King’s quotes in full for theesk.org, The Esk added via his personal Twitter page [2 March]: “This part of King’s responses is fascinating.
“‘To the best of my knowledge 777 or 777 Re don’t have $1bn (£790.1m) in cash, & even if they did how would that impact their cash hungry businesses & more pertinently how could they fund Everton’s purchase and cap requirements?”
777 Partners takeover at Everton continues to drag on
With each passing week seemingly comes more questions with regards to 777 Partners and how exactly they are going about funding this takeover.
This is not a straightforward takeover. It is not one single billionaire showing they are capable and willing to pump millions into the club, for example.
