The future ownership of Everton lies in the hands of current owner Farhad Moshiri, asserts Premier League chief executive Richard Masters, amid growing uncertainty surrounding the proposed takeover by 777 Partners.
While 777 Partners had initially agreed to purchase Moshiri’s 94% stake in the club back in September, recent developments surrounding the Miami-based firm have raised concerns about the completion of the deal.
Masters clarified the Premier League’s role in the matter, emphasizing that their responsibility as regulators is to conduct the necessary tests, rather than dictate Moshiri’s decision regarding the sale of the club. With Moshiri opting to continue discussions with 777, the fate of the takeover remains in flux.
Recent actions by 777, including engaging finance restructuring experts, have added to the uncertainty surrounding the deal. Moshiri has sought clarity from 777, particularly regarding their ability to address financial obligations, such as the repayment of a £158m loan owed to MSP Sports Capital.
As scrutiny over 777’s takeover bid persists, Everton’s Fan Advisory Board has called for its dismissal, urging the Premier League to explore alternatives with more suitable owners.
To proceed with the takeover, 777 must address various financial commitments, including converting loans provided to Everton into equity and securing funding for the completion of the club’s new stadium at Bramley Moore Dock.
While the Premier League has outlined the conditions for 777’s ownership bid, the final decision rests with Moshiri, pending the completion of necessary requirements by 777.