Andres Blazquez has verified that an agreement has been reached by the Friedkin Group to terminate 777 Partners’ investment in Everton.
The CEO of Genoa addressed the struggling American company selling off its other football teams during a lengthy, behind-closed-doors meeting with members of the Italian team’s fan organizations on October 4, according to Calcio Finanza. The discussion lasted more than three hours.
Last season, 777 made an unsuccessful attempt to get Everton to join the ranks of Red Star FC in Paris and Standard Liege. However, during that time, 777 lent £200 million, for which the Friedkin family was said to have struck a contract; Blazquez verified this.
Through Calcio Finanza, he stated: “An agreement has been made with the Friedkin family for Everton, and Red Star Paris and Standard Liege are also being sold.” The organization’s sporting director, [Johannes] Spors, is leaving the group right now, and I’m not sure what will happen to it.
A-Cap took over Everton debt from 777 Partners
As the Friedkins came back into the fold to achieve a takeover deal ahead of John Textor last month, it was claimed that they had individually reached deals with the different interested parties engaged in the Everton ownership scenario [Alan Myers, 23 September].
The Toffees announced the agreement between the head of Roma and Farhad Moshiri, saying little more than that the transfer was contingent upon regulatory permission.
Blazquez has now clarified a settlement on the 777 money. Since then, attorneys representing long-standing club creditors Rights & Media Funding Ltd. have verified an arrangement has been struck there [BCLP, 24 September].
As he indicated, 777 fell apart, and A-Cap subsequently assumed ownership of the debt, which is currently embroiled in a US court case.
TFG abruptly abandoned their purchase attempt in July due to issues surrounding the litigation, in which Leadenhall has accused A-Cap and 777 of fraud, both of which they deny [The Athletic, 19 July].
However, despite Leadenhall’s latest challenge to the contract, it is thought that they have complete faith in their revised strategy to pay off that debt [Liverpool Echo, 3 October].
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