777 Partners takeover on the verge of collapse!

English Premier league

The proposed takeover of Everton by 777 Partners is on the verge of collapse. Henceforth, Sean Dyche’s plans for the Toffees are inexecutable given the uncertainty of the club’s ownership.

After finding Everton breaching FFP rules, the Toffees were handed a 10 point reduction which was later reduced to 6 after appeal. Everton were thrown into relegation danger. However, Sean Dyche’s men picked up form and have managed to mathematically secure top-flight status for another season.

777 Partners agreed to acquire Farhad Moshiri’s 94.1% stake at the club for £500million last September. But, they have failed to do so.

Moshiri to walk away?

Farhad Moshiri is considering walking away from the deal due to concerns regarding 777 Partners’ financial capabilities. A £300 million lawsuit has been filed against them by Burnley, Leeds, and Leicester.

The company’s Australian airline venture also went into voluntary administration raising questions over the firm’s stability. One of 777 Partners’ existing investments, Standard Liege, are facing a transfer ban due to unpaid wages.

The US investment firm recently sent a delayed payment of £16 million to Everton for day-to-day operational costs. The total money owed by the club is around £200million.

Fresh talks over Everton Takeover?

Moshiri highly doubts if the firm would be able to manage accomplishing the deal. It has been suggested that all this could be part of Farhad Moshiri’s masterplan. Moshiri could allow the firm to pay for club’s operation and could make a deal with another party allowing them to swoop in at Goodison and clear the debts.

Sean Dyche’s men securing premier league spot for another season will definitely aid Mohsiri’s cause. Everton fans will surely be frustrated with the club’s ownership. This uncertainty could also tie Sean Dyche’s hands in the upcoming summer transfer market.

If the situation isn’t rectified soon, the Toffees may not have a competitive squad before the beginning of next season. Therefore, pressurizing the coach, players and further frustrating the fans.

As featured on EvertonNews.com

For more sports updates, make sure to follow us on Twitter, Facebook, Instagram & LinkedIn.

To Top