Everton takeover doomsday admission emerges as Farhad Moshiri holds 777 Partners talks
Gavin Buckland believes that the impending 777 Partners takeover is the most critical moment in the history of Everton.
The Liverpool Echo journalist reacted to the 8th May update on Farhad Moshiri holding face-to-face talks with the Miami-based investing firm.
Their bid to acquire the Toffees has been mired with plenty of problems, most of them not related to the club.
Buckland told the Royal Blue podcast: “The doomsday clock, where would you see it being for Everton? Couple of minutes before midnight? The meeting Moshiri is talking about today, that minute clock could go either way. That’s how close we are. There’s an argument that this is the biggest moment in [the club’s] history. I’d argue where we are is the most critical moment.”
Premier League unlikely to allow 777 Partners to buy Everton
The Premier League is unlikely to sanction 777 Partners’ takeover of the club with a major issue being that they have been accused of fraud amounting to £480million.
Such allegations cast doubt on the firm’s ability to pass the Premier League’s ‘fit and proper’ test, which is a critical criterion for ownership approval.
This test aims to ensure that prospective owners are financially sound and ethically suitable to run a football club.
Furthermore, 777 Partners’ financial credibility has been questioned with their involvement in a low-cost Australian airline, Bonza, which recently collapsed into voluntary administration.
This event, coupled with the fraud allegations, raises serious concerns about the firm’s financial stability and capability to manage a Premier League club.
Given these factors, it is highly unlikely that the Premier League would sanction 777 Partners’ takeover of the Merseyside club, as the firm does not meet the necessary standards of financial stability, ethical conduct and effective management required for ownership in the top flight.
In other Everton news, the 777 Partners face further takeover doubts amid legal issues while the Toffees find themselves in trouble with the authorities.
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