Farhad Morhisi now in ‘exclusive negotiations’ as Everton takeover twist emerges
Farhad Moshiri is in “exclusive negotiations” with 777 Partners over a potential takeover of Everton, according to the Daily Mail.
The newspaper reported on page 73 of its print edition on 14 September that the US investment firm is yet to confirm it has the funding in place to complete the takeover.
It said there are many people currently questioning if the company could afford such a “major investment” given the money required to complete the new Bramley-Moore Dock Stadium and secure the club’s long-term future.
More questions than answers
It feels like there are more questions that are currently being asked about the takeover than answers are being provided on whether a deal for Everton is possible.
Since it was announced that Moshiri was looking to sell the club to 777 Partners, doubts have emerged about the company’s finances and whether co-founder Josh Wander would pass the Premier League’s fit and proper test.
It emerged that the businessman was charged with a drug trafficking offence in 2003 and that could lead to the league blocking him from being involved in the takeover despite the group’s advisers believing it shouldn’t be a problem.
The US firm also made a late payment of £900,000 to the British Basketball League, one of its business partners, earlier in the summer and that has raised questions about its finances.
Given that the new stadium is expected to cost about £760million and the Blues’ overall finances are in a mess, proof of funds really needs to be provided soon to ease any concerns about the deal not being completed [Liverpool Echo].
In other Everton news, a BBC Sport journalist has been wowed by one new Toffees signing.