Alan Myers: 777 Partners could get Premier League approval for Everton takeover ‘any day now’
777 Partners could receive Premier League approval to complete their takeover of Everton “any day now” after they were cleared by the financial conduct authority, Alan Myers has reported.
The Sky Sports journalist shared via his Twitter account [7 January] that 777 have now provided around £150million to Everton as they wait to hear whether their takeover will be approved.
Those funds are said to have been used for the ongoing construction of the new stadium and working capital for the club ahead of the proposed purchase of Farhad Moshiri’s majority shareholding.
The wheels have been set in motion
When the financial conduct authority decided to give 777 the all-clear in their bid to take over Everton, it set the wheels in motion for the Premier League to follow suit and also agree to the purchase of Moshiri’s stake in the club.
While it was reported at the time that there were still large hurdles for the group to overcome before they received permission from the Premier League, it now appears those hurdles have been overcome.
By no means is everything completed, and the final decision remains unclear. However, as per Myers’ update, it looks like the Premier League will make the necessary decision for the Miami-based group to complete their full takeover in the coming days.
Concerns surrounding the takeover continued to ramp up in recent weeks given 777’s issues elsewhere, with both Standard Liege and Vasco da Gama suffering from financial issues and subsequent punishments, but that looks unlikely to have affected the Premier League ruling.
In other Everton news, Ben Jacobs has warned an international ace to think carefully after Everton links.