BBC journalist: Everton awaiting 777 takeover news as Manchester United development emerges
Everton are still awaiting news on the prospective takeover by 777 Partners, with key Premier League checks surrounding proof of funding still ongoing, according to Shamoon Hafez.
The BBC journalist reported via his Twitter account [8 January] that the team assessing the 777 takeover is the same team that approved Sir Jim Ratcliffe’s 25% purchase of Manchester United.
It was also reiterated that the group have provided around £150million of funding to the club already, with proof of funding needed for three years of their business plan.
Just a matter of time
As new developments continue to emerge surrounding the progress of the takeover, it is beginning to feel like a matter of time until the deal is officially given approval by the Premier League and eventually completed.
The news that the team assessing the deal is the same one that permitted Jim Ratcliffe’s purchase of a 25% stake in Manchester United could prove good news for the Toffees as they have prior form for completing checks over ongoing takeover deals.
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 purchase Moshiri’s stake in the club.
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, Arsenal are now in intensive talks over a deal for Amadou Onana.