Paul Joyce: Everton takeover: 777 Partners angry as Premier League drops latest obstacle
Frustration mounts at 777 Partners as they await Premier League approval for their takeover bid of Everton, as reported by Paul Joyce.
The American company, having entered into an agreement with Farhad Moshiri in September, finds themselves in a prolonged five-month wait for clearance to proceed with the takeover at Goodison Park.
Despite being asked by the league office to provide additional information regarding
three-year funding for the Toffees, 777 Partners feels they have already furnished the necessary details.
The continued delay in the process has left 777 Partners dissatisfied, especially considering that even if the league grants approval, an independent oversight panel still needs to greenlight the move.
The frustration is compounded by recent reports of significant internal changes
within the company, which could potentially complicate matters further.
While there were earlier expectations of a decision on the takeover in the next few weeks, the ongoing delays exacerbate the situation.
Amidst claims and counterclaims regarding 777 Partners’ suitability for the takeover,
it’s evident that the current scenario is less than ideal for both parties, with Everton relying on loans
from 777 Partners to sustain operations.
While thorough scrutiny by league authorities is warranted for a club like Everton,
trust among the club’s supporters towards the Premier League’s handling of the matter is diminishing.
Despite whispers of alternative bidders, 777 Partners remains the sole contender in the takeover bid.
However, amidst mounting debts and uncertainties, there’s little certainty
about the future of Everton’s ownership.
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