Everton: 777 Partners takeover update emerges contrary to reports

There have recently been claims that the deal was on the verge of collapse.

Contrary to recent allegations that have been leaking out of Goodison Park, an update regarding the transaction has surfaced regarding the takeover of Everton.

Will Everton be sold by Farhad Moshiri?

Farhad Moshiri has already agreed to sell American investment firm 777 Partners his 94.1% share in the Merseyside club for an estimated £550 million. At first, things looked promising because the potential new owners had been spending big money.

According to David Ornstein of The Athletic, the Miami-based organization has given Sean Dyche’s team a loan of millions of pounds to be used for short-term initiatives like the ongoing construction of Bramley-Moore Dock, a new stadium for the Premier League.

However, journalist Paul Brown, who spoke to GiveMeSport, claimed that they aren’t really investing for the right reasons and are just using this as a chance to expand their portfolio—they already own clubs like Hertha Berlin and Sevilla.

Even worse, the Toffees allegedly realized later that the entire transaction was in danger of failing since the company had failed to meet a crucial deadline established by the Financial Conduct Authority. Nevertheless, the Toffees have responded contrary to reports.

Everton takeover update

In a public statement released sharing an Everton takeover update, a spokesperson for the 777 Partners Group denied the rumours that they had failed to hand in the necessary paperwork and reassured supporters that the agreement is still going ahead:

“We have submitted all relevant documentation to the FCA in line with their requests and indicative timings. As we have previously stated, the regulatory processes in relation to the proposed acquisition of Everton FC need to be allowed the proper time and space to run their course in private, and so we will not be commenting further.”