Everton takeover: 777 Partners upset as Premier League drop latest hurdle – Paul Joyce
There is frustration at 777 Partners as they continue to wait on Premier League approval for an Everton takeover, according to Paul Joyce.
The Times journalist reported via the paper’s website on 16 February that the American company were asked by the league office this week to provide more information about three-year funding for the Toffees, with the prospective new owners set to do so but believing that has already been provided.
Having agreed a deal with Farhad Moshiri back in September it is now five months awaiting clearance to come in at Goodison Park, with the Premier League seemingly still having “fundamental misgivings”.
As a result 777 are unhappy about how long the process is taking, with an independent oversight panel still needing to give the green light even if the league allows it to proceed.
Everton takeover frustration as 777 Partners face new Premier League delay
The Telegraph had reported this week (15 February) that a decision on the long-awaited takeover was coming in the next couple of weeks, so it is no surprise that there is frustration.
There is also reportedly significant changes going on within the company which sound very much like they aren’t going to be helpful moving forward so if the picture is worsening behind the scenes there they will be itching to get this move over the line.
Throughout the process there are claims and counterclaims relating to the Miami firm’s suitability and capability to complete the takeover.
But with 777 propping Everton up through millions in loans it seems clear that the current situation is far from ideal for either side.
It is absolutely right that the league authorities should be thorough when it comes to allowing the takeover of an institution like Everton, but trust among the club’s support towards Richard Masters and his office is through the floor already.
The Toffees quite evidently need new owners, and while there have been suggestions of alternative bidders lurking in the wings should 777’s attempt fail they remain the only ones currently in play, but right now there is no certainty about anything while yet more debts are simply mounting up.
In other Everton news, Ally McCoist reacted live on air to a “really, really sad” Toffees situation.
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