According to Paul Brown, the emergency order against 777 Partners lenders A-CAP has “major implications” for the Everton takeover.
According to the journalist’s article on X on December 3, A-CAP’s insurers are in “hazardous” financial circumstances, and the company will have to “cease writing new business” by the end of the year.
Following the Utah Insurance Commissioner’s decision on December 2, Brown’s post also mentioned the possibility of A-CAP’s (and hence 777’s) liquidation at the end of this time frame.
Following their demise in October, A-CAP took over 777. As part of their unsuccessful takeover attempt, the Toffees were given £200 million, a sum that The Friedkin Group is currently attempting to settle.
777 and A-CAP throwing another spanner in the works for Everton
Blues supporters were ecstatic when Freidkin’s takeover was announced in principle on September 23. This was mainly because it appeared to finally put a stop to the 777 disaster.
The problems arising from 777 and A-CAP’s participation in the club caused Friedkin’s first effort at a buyout to be shelved during the summer [The Athletic, 19 July], but those problems don’t appear to be going away.
Fans won’t be able to rest easy until Friedkin arrives at Goodison Park as Everton’s majority shareholder, with a mid-December completion date quickly approaching. Friedkin’s summer takeover agreement was cancelled after he paid off a £158 million loan from MSP Sports Capital at Goodison, but the money invested by 777 is turning out to be much more difficult.
With a new era on Merseyside ready and waiting to finally be given the green light, Toffees fans will hope that A-CAP’s latest setback doesn’t prove terminal for their takeover ambitions.
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