‘Ridiculous’ Everton update after 777 Partners takeover news
777 Partners’ agreement to take over Everton has finally expired, and Tariq Panja didn’t hold back in his assessment of the situation.
The New York Times journalist posted on X after Everton released a club statement on the expiration of 777’s takeover deal, calling the whole fiasco “ridiculous”.
Farhad Moshiri and 777 had been locked in talks over a buyout at Goodison Park, but could never satisfy the Premier League’s requirements.
After their 31 May deadline came and went without any sign of 777 completing their takeover, Panja bemoaned the inevitability of the US-based group coming up short as Moshiri goes back to the drawing board.
What next for Everton’s takeover this summer?
As 777 Partners couldn’t change the Premier League’s mind before their deadline of 31 May, the Miami investment group are officially out of the running to become Everton’s new owners.
After eight months of talks with Moshiri came to nothing, Toffees fans will be breathing a sigh of relief now they won’t be owned by a group whose financial credibility was always questionable.
However, it also leaves the club no closer to having new owners in place of Moshiri, who must now re-initiate talks with the several third parties who declared interest only to be rebuffed in favour of 777.
From Andy Bell and George Downing to MSP Sport Capital and Crystal Palace co-owner John Textor, Moshiri is not short of potential options but faces a race against time with debts piling up.
777 had been providing the club with several dozens of millions during their talks, but now those talks have finally come to a halt, that money will need to be paid back.
Kieran Maguire wondered if MSP could take over at Goodison Park, converting their money into club assets, but regardless of what twists and turns are next in the takeover of Everton, the club are by no means out of the woods yet.
In other Everton news, the Toffees want to sign a Premier League striker who is set for a move this summer.
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