777 Partners Everton takeover could take ‘several months to complete’ – Alan Myers
777 Partners and Everton are in talks to complete a full takeover of the club but it could take “several months” to complete, according to Alan Myers.
Writing on his personal Twitter account (12 September), the Sky Sports journalist reports that any move would be a “full takeover” of the club but would need to meet all the Premier League requirements.
That could take several months to do, despite some reports that an announcement on the deal could come as soon as this week.
“Miami based 777 Partners are close to agreeing a deal to takeover Everton Football Club,” he wrote.
“The Multi-club investors have been in discussions with Farhad Moshiri since the news that New York group, MSP Sports Capital had ended its exclusivity agreement with the EFC Major Shareholder.
“777 already have a number of football clubs in their portfolio including Hertha Berlin, Seville and Standard liege, with the fans of liege holding a demonstration criticising the groups involvement at their last game.
“The move by 777 would be a full takeover, once all the Premier League requirements are met, which could take several months to complete.”
Long way to go
It could be that a deal between 777 and Moshiri is close to being agreed that would see them take the club over fully.
But that doesn’t mean they would immediately assume control of the club and with the Premier League needing to go through a bunch of processes and regulations before it’s official it’s unlikely that will come quickly.
777 have had issues recently with their funds and it would be quite a surprise if they were somehow able to pay for a full takeover right now, especially considering the situation that Everton are in right now financially.
A new stadium still needs funding to be completed in time for next season while the playing squad is not at the level it needs to be to avoid relegation and the club’s operating costs are currently running at a loss.
This isn’t a situation that is going to be resolved overnight, so Toffees fans will be best off holding tight and just waiting to see how it all develops in the coming weeks.
In other Everton news, ‘Advanced talks’ on for full sale with Moshiri set to leave post at Goodison Park.