Everton takeover news as expert shares what 777 Partners will have to prove to pass Premier League test
Prospective Everton owners 777 Partners will mainly face questions from the Premier League regarding their future funding of the club, according to i.
The newspaper reported on its website on Wednesday (27 September) that “expert” Stephen Taylor Heath of JMW Solicitors noted that the Premier League will be interested in where the money is coming from when it comes to their owners and directors’ test.
Earlier this month, 777 Partners agreed to acquire Farhad Moshiri’s full stake in the Toffees, which account’s for 94.1% of the club’s shares.
“If the people involved in the business have successfully acquired football clubs before then you would think that they are likely to be regarded as fit and proper people in terms of passing the test,” Taylor Heath told i.
“The one thing the Premier League look at is what is the ultimate source of the funding. They don’t take at face value who is put forward as the people who are funding the deal. They want to see where the money is coming from to protect against obvious money laundering issues but also in case people putting up the money have interests in competing clubs.
“If there are issues in terms of the funding of other clubs [in the group] then again they might not take the projections provided at face value and will be asking questions on top of that.”
Big test ahead
Everton fans will be delighted with the progression of the impending takeover and indeed the actions from 777 Partners so far.
But in terms of the transaction being completed and approved, there is still a long, long way to go for all parties involved.
Toffees supporters cannot breathe a sigh of relief just yet, but from the outside it seems that 777 Partners have what it takes to gain Premier League approval.
There is, of course, already plenty of US-based ownership among other top-flight clubs, with Everton keen to join that list as soon as possible.
Fans of the Merseyside club have really had some tough times in recent years, and they will be desperate for that all to be put behind them.
They will then want the success behind the scenes to be transferred onto the pitch, with improvement definitely needed after a miserable start to the new Premier League campaign.