EXCLUSIVE Everton’s prospective new American owners 777 Partners are hit with fresh scrutiny as top British sports agency cuts ties over a ‘breakdown of the business relationship’
- Current owner Farhad Moshiri announced the impending deal in September
- Redstrike was one of the American investment group’s leading UK partners
- REVEALED on It’s All Kicking Off: Man United’s January transfer window plans… and how the Sir Jim Ratcliffe takeover will impact them
Everton’s would-be buyers 777 Partners face fresh questions after a top British-based sports agency dramatically cut ties with them citing a ‘breakdown of the business relationship’.
777 are currently awaiting Premier League approval to take over the Toffees having agreed terms with owner Farhad Moshiri in September.
However, the US investment group have suffered a blow after one of their leading UK partners, sports marketing powerhouse Redstrike, pulled the plug on a joint venture they founded only last year.
It casts a further cloud over 777’s business dealings at a critical time of the takeover process, with the Premier League still scrutinising the source and sufficiency of their funds.
The private equity firm first linked up with Redstrike – who are involved in several sports organisations globally and are run by ex-Manchester United international managing director Mike Farnan – in 2021 over a proposal to fund a Formula One race in east London.
Everton’s would-be buyers 777 Partners have been hit with fresh scrutiny after leading agency Redstrike cut ties (co-founder Josh Wander pictured left)
Current Toffees owner Farhad Moshiri (right) announced the deal in September of this year
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A year later, they entered into a joint venture and formed a new company, Redstrike Partners Limited, with 777 chief Josh Wander listed on Companies House as the sole shareholder.
However, Mail Sport understands that Redstrike have now written to a number of football stakeholders to make it be known they are no longer linked with 777.
While the letter does not divulge the details of the fall-out, it states they are cutting ties with ‘immediate effect’ and adds: ‘Redstrike cites a breakdown of the business relationship between it and 777.’
Mail Sport previously reported how 777 were accused of missing payments to the British Basketball League, which they own a 45 per cent stake in. Brazilian team Vasco De Gama – who are among the company’s portfolio of football clubs – have also missed scheduled transfer payments.
Wander previously hit out at ‘misleading reports’ after proposed Everton deal was annouced
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777 club Brazilian side Vasco De Gama have also seen scheduled transfer payments missed
777 have loaned Everton over £100million for operating costs since agreeing a deal to buy the club in the autumn and had hoped to have completed their takeover by now.
However, the Premier League have indicated to them that they are still some way from completing their due diligence.
The complexity of 777’s finances and corporate structure, with over 60 companies involved, is understood to be proving challenging for top-flight bosses to assess.
777 and Redstrike declined to comment.
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