Farhad Moshiri considers termination of 777 Partners takeover at Everton after talks held
Farhad Moshiri is finally starting to consider backing out of a deal to sell Everton Football Club to 777 Partners, according to Times journalist Paul Joyce.
Writing via The Times website on Wednesday (8 May), Joyce reported that Moshiri has been in talks with representatives of 777 for the last two days but doubts have surfaced over how the Miami-based group will fund the Blues in the long-term.
It is understood that if Moshiri does terminate his agreement with 777, he’ll have to fund Everton with his own money “or turn to an alternative source”.
Joyce adds that there are other parties keen on buying Everton.
Will 777 Partners complete their Everton takeover?
This really is the news that Evertonians should be happy to hear.
However, it’s bittersweet news because all of that time has been wasted on a Moshiri fantasy, hoping he could sell one of England’s most historic football clubs to a bunch of charlatans who are completely inept at running football clubs.
It seems like the final straw might have been the allegations of fraud against 777 with Leadenhall Capital Partners LLP suing the Americans over an accusation of “double-pledged assets or pledged assets that do not exist as collateral to borrow money”.
Then there’s the Premier League, who have ummed and ahhed about whether to sanction this takeover for months on end. Why on earth has it taken this long for them to do something about it? Or was their plan all along to wait it out for Moshiri to take the decision to back out of the deal himself?
Still, it’s not a done deal just yet. Moshiri is known for changing his mind and he could still pull another U-turn and continue wasting his time with 777.
In other Everton news, 777 Partners face further takeover doubts amid legal issues while the Toffees find themselves in trouble with the authorities.
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