Premier League have failed Everton again after 777 takeover decision made back in March

There is now only one outcome for 777 Partners’ takeover of Everton Football Club.

As a deal, it’s fair to say that this had plenty of red flags from the start, and it’s important to acknowledge the fine work of the likes of Josimar in shining such a spotlight on them over the course of several months.

There is rarely any smoke without fire, but that fire has now appeared to have turned into a raging inferno, one where 777 Partners is facing several legal suits in the US, including a civil case over allegations of fraud. One where they have seen an airline they own fall into voluntary administration. One where they have seen their biggest source of funding move to create distance between them due to recommendations from US state regulators. One where they had to call in restructuring experts to help solve the current crisis. One where co-founders Josh Wander and Steven Pasko have been removed from the board of directors and away from any decision-making.

READ MORE: Everton takeover: Richard Masters speaks out on why 777 deal still hasn’t happened

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But these words here aren’t really about 777 Partners. That is a situation that will play out in the cold light of day. They have next to no chance of acquiring Everton now, and that is the long and short of it.

Had things not unraveled in the timeframe that they did, had US state regulators in two states not asked Kenneth King’s A-CAP to reduce exposure to 777 Partners ‘to protect retirees, widows, and orphans relying on annuities and other products from the insurers, ‘ then the situation right now could have been a whole lot different.

That news broke at the end of March. Had A-CAP, a major source of funding for 777 Partners for some time, been willing to continue to supply funding to the company by the time April 15 rolled around then Everton would likely have had new owners, owners who are now facing a very bleak outlook and serious legal issues.