Farhad Moshiri is set to open talks with new interested parties, with 777 Partners’ protracted takeover set to collapse.
The club’s agreement with the Miami-based firm concludes in the early hours of Saturday morning after a long-winded back-and-forth process with the Premier League.
Since the start of April, concerns have emerged over 777’s funding – and now, the end is nigh for the much-maligned investment group.
Farhad Moshiri to entertain fresh Everton takeover talks
According toi News’ Mark Douglas, new bidders are now emerging, and the Everton owner is ready to listen to fresh offers.
He wrote on Friday afternoon [31 May]: “Farhad Moshiri will open talks with new bidders for his majority stake in Everton when a sales purchase agreement with 777 Partners expires in the early hours of Saturday morning.”
Douglas also revealed that an unnamed US group, along with John Textor, are interested.
He wrote: “I understands that there is interest from a US group along with current Crystal Palace minority shareholder John Textor – who broke ranks to talk publicly about his negotiations last week – if, as all parties now anticipate, 777’s long-running bid for Everton collapses.”
The best news Evertonians could have hoped for
This is the best news Evertonians could have hoped for.
777, clearly, isn’t fit to run itself, let alone be one of the biggest clubs in England.
With loans piling up and no apparent means of paying them off, their attempted takeover looked doomed from the start.
The challenge for Moshiri is to find a buyer who is willing to take on the immense debt that has been accumulated at Goodison Park.
Evertonians will be hoping for a fresh start this summer, with financial issues becoming a thing of the past. Sadly, for that to happen, a clean bill of health is required in the boardroom, and it remains to be seen who will provide that.