777 Partners will pay a reduced price to takeover Everton if the club are handed a points deduction for breaching financial rules, according to The Times.
The Telegraph reported (25 October) that the Toffees face an “extremely severe” punishment of 12 points deducted if found guilty of breaking the Premier League’s financial rules by an independent commission.
And according to The Times (26 October) that won’t stop a 777 takeover from happening, but it would see the US investment firm pay a reduced price for Farhad Moshiri’s stake in the club with the deal structured in a way that is “heavily performance related”.
“The US investment firm 777 Partners are expected to pay a reduced price for Everton if the club have points deducted for an alleged breach of the Premier League’s financial rules,” they wrote.
“Sources with knowledge of the takeover process said that Everton’s P&S case, and the possible repercussions, have been factored into the deal and will affect the final price 777 pays.
“Three possible sanctions have been outlined to 777: a heavy fine, a transfer embargo and a points deduction. The takeover has been structured so that any of those sanctions, as well as relegation this season, would result in 777 paying a lower price and the whole deal is heavily performance related.”
Worse and worse
With every passing day that takes place at Everton Football Club right now, more and more bad news seems to come out.
The on-pitch results simply haven’t been good enough even if the performances themselves have been encouraging, and off the pitch the club is an absolute shambles.
There are major question marks over whether or not 777 Partners should even be allowed to takeover Everton with all the problems they have at their other clubs and financially, yet somehow it still seems as though a deal will be allowed to happen.
If it does happen we need it to be a good deal for the club, but it seems as though the worse things get for us the better they get for 777 and that isn’t right. The club’s interests should be first in everything to do with this.
We are unlikely to have to wait too long to see what happens in all of this, but it’s going to be a long, hard and difficult season regardless of the outcomes for Sean Dyche and his team to keep us in the Premier League.
In other Everton news, Paul Merson drops relegation verdict after “atrocious” thing he saw at the weekend.