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Kieran Maguire: Everton takeover price to be 'reduced' after points deduction
777 Partners will have clauses inserted into their contract that lowered the takeover price when Everton were deducted points.
That is the view of finance expert Kieran Maguire, who spoke exclusively to Football Insider about the impact Everton’s points deduction may have on their imminent takeover.
777 Partners struck an agreement with Everton chairman Farhad Moshiri to buy his 94 percent stake in the club back in September.
The takeover process is still underway with the US investors currently under assessment.
The initial takeover deal is worth £500million for Moshiri’s stake, but the Daily Mail report that the takeover price may be reduced following Everton’s 10-point deduction.
Maguire explained that clauses will already be active in the takeover agreement that either lower the takeover price or secure compensation for 777 Partners due to the threat of the club’s relegation.
“I find this claim a little strange,” Maguire told Football Insider’s Sean Fisher.
“As part of their due diligence, 777 Partners will have taken into consideration the possibility of Everton getting a points deduction.
“Even with a 10-point deduction Everton won’t get relegated because of the standard at the bottom of the table this season.
“So I think that the relegation threat isn’t one 777 will be too worried about.
“They will already have clauses inserted into the takeover contract which, when triggered, will either reduce the price or force Moshiri to indemnify 777 Partners.
“So I don’t think there’s been a significant change over the course of the last few weeks.“
In other news, Kieran Maguire hits out at Everton FFP twist as official complaint filed