Everton’s prospective owners 777 Partners accused of “fraudulent scheme” by lender in New York court filing

Everton’s prospective owners, 777 Partners, and co-owner Josh Wander are facing serious allegations of a “fraudulent scheme” in a civil court filing in New York. London-based Leadenhall Capital Partners LLP and Leadenhall Life Insurance Linked Investments Fund PLC have accused Wander and 777 of pledging over $350m in assets as collateral for a credit facility agreement, assets that allegedly “did not exist” or were not owned by Wander’s entities.

The 82-page filing submitted by Leadenhall seeks to recover “millions of dollars in damages from a house of cards on the brink of collapse.” This development has raised doubts about whether 777 can complete their takeover of Everton, after agreeing to buy majority stake in the club last September.

777 Partners, a Miami-based investment firm, has been in discussions with a private equity firm specializing in distressed debt as they try to finalize the deal, which is pending ratification by the Premier League. The firm already owns stakes in several European teams and a Brazilian club.

This week, 777 faced financial difficulties, including delayed payments to Everton and having one of their owned airlines enter voluntary administration. Their UK public relations advisers have also stopped representing the company due to payment issues.

Leadenhall’s US court filing has accused Wander and co-owner Steven Pasko of operating a fraudulent scheme, describing it as a “giant shell game” or even an “outright Ponzi scheme.” BBC Sport has reached out to Wander for comment but is yet to receive a response.

The future of Everton’s ownership remains uncertain as these allegations cast a shadow over the potential takeover by 777 Partners. Fans and stakeholders will be closely monitoring the situation as it unfolds.