Everton takeover: Former CEO says the agreement might be hacked in light of what “sources” are saying

Everton takeover: Former CEO says the agreement might be hacked in light of what “sources” are saying

Former Everton executive Keith Wyness has suggested that there are still prospective buyers capable of acquiring the club despite ongoing delays in the Premier League’s approval process for the proposed acquisition by 777 Partners.

Speaking on Football Insider’s Inside Track podcast, Wyness, who served as CEO at Everton from 2004 to 2009 and now advises elite football clubs, expressed concerns about the delay in

approval and its implications for 777 Partners.

The reported deal, valued at over £500 million, involves the purchase of Farhad Moshiri’s 94.1% stake in Everton, agreed upon in September.

Despite expectations for a 12-week process, the approval is now in its 19th or 20th week, suggesting potential complications.

Wyness noted remarks by Richard Masters in the House of Commons, indicating an anticipated completion by the end of January, which has not materialized.

Reports suggest that Everton has received loans of up to £180 million from the prospective buyers to assist with stadium and operational costs.

However, Wyness indicated uncertainty regarding the actual transfer of funds, suggesting it may be akin to an IOU, with the commitment to provide funds if necessary.

The Premier League faces a dilemma in approving 777 Partners: risking the approval of potentially problematic owners or causing issues for Everton by rejecting the deal.

Wyness believes there are still alternative buyers in the market, although the exclusivity agreement between 777 and Everton may pose a challenge for other potential suitors.

Read more related news on sporttoday.co.uk

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