777 Partners cannot produce documents demanded in Everton takeover twist
Paul Brown has reported 777 Partners cannot produce the two years of audited accounts which have been demanded by the Premier League and FCA in another twist to their takeover of Everton.
The former Express journalist shared it is difficult to predict what the outcome of the regulatory process will be as a result of their inability to provide the documents.
It was also suggested that there is uncertainty surrounding the takeover because of the ongoing appeal of the ten-point deduction and potential compensation claim from other teams.
Brown was speaking to GIVEMESPORT [23 November] when he shared the update: “They’re still awaiting regulatory approval. It’s by no means a given that the Premier League and the FCA will give the green light for this because there are still a lot of hurdles to overcome.
“They were asked for two years of audited accounts, which they cannot produce, so it’s difficult to predict what will happen here.
“But there is some uncertainty because of the outcome of the appeal and what happens with the compensation claim by the other three clubs.
“At the moment, 777 are still determined to complete the purchase. But there is a lot that could happen between now and then.”
Questions still being asked
Amid a storm of conversation around the ongoing situation at Everton, with the points deduction taking the spotlight as the new talking point, questions are still being asked about the eligibility of 777 Partners to complete this takeover.
Those questions are unlikely to stop, just as they are unlikely to get any easier, and if the group are unable to provide the required documents which have been demanded by the authorities carrying out relevant checks, then it is difficult to see the takeover going through.
Surely the bare minimum for any owner is being able to provide necessary paperwork when needed? Whether that paperwork is correct and in line with their demands would then be the next step, but flat-out not being able to provide them has to be a red flag.
This has come amid reports that another 777-owned club, Genoa, are at risk of going bankrupt, with 777 appealing to the Court of Genoa to restructure the club’s debts.
It has not been a smooth week at Goodison Park.
In other Everton news, Jim White and Simon Jordan have reacted to the protests.