Everton: Premier League to make decision on 777 Partners takeover next week
The Premier League are set to make a decision on 777 Partners’ takeover of Everton next week, according to The Guardian.
Writing on their website (15 March), the news outlet report that the Premier League had fresh meetings with the Miami-based investment firm this week with final questions asked before the matter was sent to the Premier League.
Now a decision is expected to be made next week, with the club’s financial position in jeopardy if a decision goes against the takeover.
“A decision from the Premier League board on whether to accept 777 Partners’ prospective takeover of Everton is set to be made next week,” they wrote.
“Meetings between 777 and the Premier League took place last week, resulting in final questions being put to the prospective Everton owner, which provided its response.
“Further meetings were held at the start of this week before the matter was sent to the Premier League board to make the final decision.
“Everton’s financial future could be in jeopardy if the proposed takeover is not approved.”
Everton can finally start to move forward with takeover
After months and months of speculation, the Toffees are finally set to find out what the future of the club holds for them.
The financial situation of the club has been under severe stress in recent times with 777 Partners handing out loans of up to £180m for the running costs of the club.
However, if the takeover isn’t approved by the Premier League then that’s more debt added onto the club and some big issues will follow because Farhad Moshiri will need to come back to the head of the table.
The quicker a decision is made the better, because the club need to start planning for the future properly with relegation a real possibility after their points deduction with a second potentially incoming.
Even if the takeover is approved there are huge question marks over the owners and their financial state, so things don’t look good regardless. But at least things will be a little bit clearer for everyone.
In other Everton news, Alan Myers shares what he has been told about 777 Partners takeover timeline.
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