Everton: Following the Manchester United update, 777 Partners is to blame for the takeover delay.
Sir Jim Ratcliffe has reportedly received approval from the Premier League to finalize his acquisition of a stake in Manchester United, as per The Telegraph.
Meanwhile, Everton is still awaiting approval for 777 Partners’ takeover.
Ratcliffe’s agreement to purchase a 25 percent stake in United was reached in December
and has already passed the Premier League’s owners and directors test.
In contrast, 777 Partners’ agreement to acquire Everton and Farhad Moshiri’s shares was
made around five months ago, and the approval process is still ongoing.
Premier League CEO Richard Masters confirmed that 777 Partners had not provided all
the necessary documents for scrutiny, leading to prolonged delays in the approval process.
This delay has raised concerns, especially considering Everton’s increasing debts, which have been
partially offset by loans amounting to almost ยฃ200 million from 777 Partners.
The Premier League’s checks on the Everton takeover are still in progress, lasting longer
than expected, with initial hopes for completion before the start of 2024.
The lack of updates on the progress is causing growing concerns among fans and stakeholders.
The swift approval of Ratcliffe’s acquisition of Manchester United shares may be attributed
to the smaller stake involved compared to the 94.1 percent that 777 Partners intends to purchase for Everton.
However, the prolonged delay in Everton’s case was unforeseen.
In addition to financial concerns and takeover delays, Everton supporters have raised issues
regarding 777 Partners’ involvement with other clubs, including Standard Liege, Red Star, Genoa, and Hertha Berlin.
These concerns have intensified following protests by fans of these clubs, prompting scrutiny
over multi-club ownership, as highlighted in a recent speech to the UEFA president.
Read more related news on sporttoday.co.uk
Leave a Reply