Everton need first-class bidder to complete takeover quickly at Goodison Park

Finance expert Stefan Borson has said that Everton must resolve their takeover saga quickly to avoid another season of financial uncertainty.

Speaking on talkSPORT with Jim White and Simon Jordan [11 June], Borson said that the scenario of the last 12 months - with 777 Partners providing money to prop up the club - cannot continue long-term.

777's share purchase agreement with Farhad Moshiri expiring on May 31 has given way to several new bidders entering the fray, with Borson stressing that a buyout must be completed as soon as possible.

He said: "There needs to be a solution, it can't go on like this.

"They somehow got through last season on the back of £200million of funding from 777, and that is not going to be repeatable.

"They need a first-class bidder, who will pass the (Premier League) tests comfortably, with decent-sized pockets. And it needs to happen quickly.

"They can probably get through the summer, but next season, the challenges that they've faced are going to be there, so they need a deal."

Everton takeover talks continue as new bidders emerge

The Toffees are seemingly no closer to new ownership, new money and a new start as June 2024 begins, having been locked in a takeover stalemate for over nine months.

Moshiri's relationship with 777 elongated the vast majority of this saga, with the Miami-based investment fund pumping £200million into the club but never being able to satisfy Premier League ownership rules [Daily Mirror].

Several potential buyers have laid their initial pitches to Moshiri, including Roma owner Dan Friedkin and businessman Vatche Manoukian, but Borson was quick to dismiss their purchasing potential.

Crystal Palace co-owner John Textor effectively ruled himself out of the race too, confirming to Goodison News that he is not a front-runner to buy the club, and never was.

This whittling down of the potential new owners' list should hopefully speed along the process of an individual or group buying out Moshiri, but as the last nine months have proved, Everton's majority shareholder is hardly likely to force through a rushed final decision [Paul Brown].

In other Everton news, Sky Sports has issued a transfer update with the Toffees in an “extremely difficult” situation as they target a new signing.

For more Everton news, follow us on Facebook or join our brand new WhatsApp Channel for instant updates to be sent straight to your phone.