777 Partners are approaching the endgame in their long-winded attempt to take control of Everton.
On Friday, reports emerged that the Premier League were edging towards approving, nearly eight months after Farhad Moshiri announced he had reached an agreement with the Miami-based firm.
Sky Sports reported on Saturday that a takeover is “minded” to be approved and that the final stage will see the process head through an independent oversight committee.
The Telegraph have since added more information to what is already a developing saga.
Premier League set conditions on 777 Partners ahead of Everton takeover
The Telegraph claims that Everton’s new owners face an “ultimatum” as the approval process edges closer to the “endgame”.
It’s understood that several stringent “conditions” must be met for the US investors to be named the club’s new owners.
The report says that the conditions include stipulations around funding and that a failure to comply would lead to the takeover being rejected.
It’s still unclear what the funding issues are for 777 Partners or what the Premier League stipulations entail. However, the decision-makers are clearly trying to ensure the prospective new buyers can take the club forward in the correct manner.
Something football finance expert Kieran Maguire agrees with. He told the Price of Football Podcast: “Whilst the Premier League has been given a lot of stick for not giving a definitive answer, they are right to demand from 777 information.”
All Evertonians are after is a bit of clarity over the situation. Sadly, if 777 do gain control, there will be a sour taste to begin with. Their handling of Standard Liege and the recent decision to pull funding from the London Lions basketball team are all red flags.
However, with nearly £200million already committed to the club, albeit in loans, Josh Wander and his associates appear firmly committed to supporting Everton longer term.