Report: 777 Partners has taken over Everton as new takeover deadline emerges
As for Everton’s takeover position, they are still much in the dark.
The Premier League has embarrassed itself on few occasions in the past, but after allowing 777 Partners to continue their takeover for six months,
it is becoming more than just a farce.
This lack of clarity on their future, and the subsequent instability it brings, is getting to the point where it borders on incompetence.
And this latest report does little to ease such accusations.
When will Everton’s takeover be completed?
Since an agreement was reached back in September, it is difficult to forecast when the Premier League would reach a decision regarding Everton’s takeover.
The lack of concern shown by this organization in making a decision that could have far-reaching effects on the club’s future is quite hilarious.
But, then again, their conduct throughout this deduction debacle set the tone for such incompetence.
Furthermore, there has been a further setback that will cause the deadline to be further delayed, as reported by The Telegraph.
“The upcoming weeks could be among the most consequential in the history of the Merseyside club,” they write, adding that executives are battling
allegations of a second budget breach.
According to sources who spoke to Telegraph Sport, a decision about the results of the league’s more rigorous owners’ and directors’ exam cannot be
made for at least another week. In order to address any unanswered questions in person, more meetings between the top echelon and the Miami-
based investment business are planned in the upcoming days.
Even after the Premier League board is certain it has all the facts, findings made in accordance with the new regulations
will be reviewed by an impartial oversight panel of KCs.
777 Partners have a stranglehold over Everton
Regardless of whether their takeover is ratified or not, 777 Partners boast a stranglehold over this football club due to the sheer number of loans they have pumped in.
This financial tie means the Toffees are in dire circumstances without their backing, and should they pull out it would take an almighty task to pay them back what they owe.
So, they now must either be confirmed as the new owners in order to allow them to continue funnelling money in, or rely on a free-spending
alternative consortium to emerge, buy the club with immense speed, and then be willing to bankroll all of these existing debts.
That seems unlikely for a club still wallowing around the relegation zone and still embroiled in mass financial turmoil.
For Everton, who are now dependent on the cash of the Miami-based company even though their takeover has not been verified, this invisible tie is risky.
The fact that this has been allowed to occur is absurd, and Farhad Moshiri deserves a great deal of guilt for not just managing the team in an utterly
terrible manner but also for his callousness and ignorance in selling his stock.
He doesn’t seem to care who ends up with possession of the club; all he wants is to get out.
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