Premier League authorizes takeover as Everton and 777 Partners remain in uncertainty

Premier League authorizes takeover as Everton and 777 Partners remain in uncertainty

The Premier League has granted approval for Sir Jim Ratcliffe’s acquisition of a 25% stake in Manchester United from the Glazer family.

The deal, valued at £1.25 billion, includes an additional injection of around £236 million.

Following completion of the Owners’ and Directors’ Test, and subsequent ratification by an

Independent Oversight Panel, the Premier League’s Owners’ Charter has been signed.

This announcement comes after it was disclosed on Christmas Eve that Ratcliffe would become a partial owner of United.

Meanwhile, Everton’s prospective takeover by 777 Partners is still awaiting Premier League clearance.

The Miami-based firm had agreed to purchase majority owner Farhad Moshiri’s 94.1% stake in the club, with hopes for confirmation by the end of 2023.

However, official approval is still pending, despite 777 loaning Everton approximately £180 million during this period.

Premier League CEO Richard Masters, addressing the culture, media, and sport committee on

16 January, indicated that a decision on 777’s proposed takeover is expected “hopefully weeks” away.

He noted that some processes may take longer if satisfactory answers to posed questions are not received.