A new document reveals who exactly is behind attempts by 777 Partners to acquire Everton, and just how badly the Miami investment firm needs Premier League approval for the deal.
By Paul Brown and Philippe Auclair
The clock is ticking for 777 Partners when it comes to their attempted acquisition of Everton. The process has now dragged on into a fifth month and the American investors are still awaiting Premier League approval.
A new document seen by Josimar sheds light on why the Miami investment firm is so eager to persist with the purchase. The document suggests that 777 need Everton even more than the club needs them.
It also outlines the strategy behind the attempted takeover and reveals key details of the deal. And yet, it was not put together by 777 themselves but by A-CAP, a New York “risk solution and service provider” operating a network of insurance companies.
A-CAP is run by chairman and CEO Kenneth King, who is alleged of being part of a “complex and massive fraud” in an ongoing civil lawsuit in the USA, and has sat in on meetings of the 777 steering committee.
King’s insurance companies have for months been propping up 777, with internal sources claiming it is facing a liquidity crisis. Those insurance companies are currently under investigation by US regulators for suspected breaches of financial rules.
The full extent of A-CAP’s involvement in Everton, and how this may impact both ...
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