**Everton supporters have plenty of reasons to be frustrated with the club’s current ownership, but every now and then something happens to remind them just how much worse things might have been.**
The latest chapter in the extraordinary 777 Partners story certainly falls into that category. [Everton](https://readeverton.com/) came close to being bought by the Miami-based investment firm during the final stages of Farhad Moshiri’s ownership, only for the proposed takeover to eventually collapse.
Now, with 777 in bankruptcy proceedings, another remarkable development has emerged.
The Wall Street Journal reports that 777 has opted for a $10m bankruptcy loan from Leadenhall Capital Partners to help fund the process. There is some history between the two.
Leadenhall previously sued 777 and alleged that assets used as collateral had either already been pledged to other lenders or did not exist. The allegations were disputed by 777.
Football finance expert Kieran Maguire highlighted the latest development on Monday morning and immediately drew the obvious comparison with Everton. “I know Everton fans are frustrated with current owners, but this would have been far, far worse,” he wrote on X.
It’s difficult to disagree.
The Friedkin Group have faced plenty of criticism, particularly after Everton’s chaotic end to the summer transfer window, and financial stability alone will never satisfy supporters who want to see progress on the pitch. But dissatisfaction with TFG should not rewrite what came before.
777 once had an agreement to buy Everton and provided the club with around £200m in loans while attempting to complete its takeover. That deal eventually collapsed before TFG completed their acquisition of the club in December 2024.
777 is now in bankruptcy proceedings and has turned for funding to a lender that previously took legal action against it. Everton have problems under their current owners. Nobody can pretend otherwise.
But this was very nearly the alternative.
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