Philippe Auclair and Paul Brown continue their reporting in Josimar on the collapse of 777 Partners, the Miami-based firm whose eight-month-long takeover bid for Everton eventually ended in May.
With control of 777’s assets and liabilities having been assumed by their primary backer, A-CAP, the football clubs they still control are all up for sale — as, it seems, are various other properties like a boat and a private jet — while the lawsuit brought against them by Leadenhall Capital Partners is ongoing in a New York district court.
Specifically where Everton are concerned, the article suggests that A-CAP’s “expected return on the loans it made to Everton, which were worth just over £200 million, amounts to just £66 million in cash plus preferred equity.
“This equity cannot be converted for seven years and pays a small annual dividend at compounding interest. Also included in the deal are warrants allowing it to take a stake of up to 10% of the club. This is the deal agreed with The Friedkin Group…”