David Ornstein shares new timeline for 777 Partners takeover of Everton
David Ornstein has shared a new timeline for the potential 777 Partners takeover at Everton, with a fresh update expected to arrive in the coming weeks.
The Athletic journalist reported on 4 January that news may not be far off now after it was initially expected that updates would arrive in the new year.
He also continued to stress that both Everton and 777 are confident of the deal being approved, although the decision is completely out of their hands.
Replying during a Q&A session for The Athletic [4 January], Ornstein reported: “I’ve had no update on the takeover since revealing 777 have received FCA approval. They and Everton remain confident it will go through but, as we know, it’s not up to them.
“We were expecting to hear more in the new year so you’d like to think news of some description isn’t far off.”
No concrete updates yet
After receiving FCA approval, it appeared the chance of the 777 takeover being allowed had gained a fresh boost, but conflicting reports since that decision have suggested otherwise, with the deal still having several hurdles to overcome before it receives a green light.
With an update said to be on its way soon, the next news on the takeover could be vital to whether or not it goes through, and therefore crucial to the future of the football club.
Concerns around the potential takeover remain at the forefront of people’s minds, with worries about their finances, including the source of them, as well as issues away from football, the focus of multiple reports since the takeover was initially agreed.
Confidence both from the club and from 777 is, of course, a positive, but they would not have reached this stage if they weren’t confident that the deal would go through. With the group reportedly putting around £80million worth of loans into the club, they are certainly putting their money where their mouth is.
In other Everton news, the club are eyeing up a transfer deal for a new striker.