777 Partners handed new blow to Everton takeover hopes as FCA approval update emerges
777 Partners’ approval from the financial conduct authority has elapsed as their Everton takeover nears its collapse, according to the Liverpool Echo.
The outlet reported on its website on Thursday (30 May) that sources suggest the Miami-based firm no longer has any hope of raising the capital required ahead of Farhad Moshiri’s extended deadline of 31 May.
But even if 777 did manage to find the money to appease Moshiri and the Premier League, their original approval from the FCA was time-limited and has now passed, meaning they would need to apply for approval once again.
With 777 Partners’ current financial and legal issues, such an approval process would not be as straightforward this time around, therefore it is clear that the American companies’ takeover bid is all but dead.
Will 777 Partners complete their takeover of Everton at Goodison Park?
If it wasn’t clear before, it is obvious now that there is absolutely no way that 777 Partners will be able to pull off this takeover at the eleventh hour as there are so many barriers stopping them from purchasing the Toffees.
Whilst most financial experts have insisted that this deal has been dead in the water for some time, there have been some close to the deal who have suggested that one way or another, 777 would become the owners at Goodison Park.
Josh Wander himself has been one of those confident in his company’s ability to get the deal over the line, but it would appear that such confidence has been misplaced as this deal couldn’t be much closer to collapse.
Moshiri will have to turn to alternative buyers and hope that somebody is willing to foot the bill required to secure his majority stake at Goodison. Hopefully, somebody will emerge sooner rather than later so this 777 saga can be put behind the Blues.
In other Everton news, Dominic Calvert-Lewin has been tipped to reject a new contract ahead of the summer transfer window
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