Everton takeover: 777 Partners still on track to acquire 94% of Toffees as date is set for Moshiri sale
Everton majority shareholder Farhad Moshiri
TEAMtalk sources have confirmed that Everton are on track to be taken over by American firm 777 Partners before the end of December.
The Toffees have been through a turbulent few years and majority shareholder Farhad Moshiri is desperate to cut his losses and find a buyer for the Merseyside club.
Last season, Evertonians protested against Moshiri and other members of the club’s board in their thousands after the team struggled to pick up results on the pitch.
The anger among the fanbase has only intensified after Everton were awarded an unprecedented 10-point deduction for breaching the Premier League’s Profit and Sustainability rules.
Many supporters called for Moshiri to sell his 94.1% stake in Everton and it appeared they had gotten their wish when he agreed on a deal with 777 Partners in September this year.
Recent reports have suggested that the takeover has been fraught with problems, however, with some outlets claiming that the American firm will not pass the Premier League’s ‘fit-and-proper-person’ checks.
TEAMtalk understand that several alternatives are waiting in the wings to buy Everton, but 777 have an exclusivity agreement which means they have first refusal on the deal.
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Everton takeover to be completed by the end of 2023
Despite the reports claiming that 777’s takeover could collapse, TEAMtalk can exclusively reveal that senior figures within Everton believe it will be completed before the end of December.
This suggests that the ownership change will take place before the 22nd of December, as that is when most clubs will cease their business activities before the Christmas period.
Our sources state that 777 chiefs also remain confident that the takeover deal worth 94.1% of the club will be completed, to the tune of £550m.
As mentioned, this is despite the American firm coming under increased scrutiny. A recent report from The Times claimed that they may ‘slow down’ with their financial loans to the club if the takeover drags on.
777 have loaned more than £100m to Everton while still waiting on approval for the deal.
The firm’s co-founder Josh Wander also remains committed to the Merseyside club. In September, Wander said: “We are truly humbled by the opportunity to become part of the Everton family.
” We consider it a privilege to be able to build on its proud heritage and values.”
“Our primary objective is to work with fans and stakeholders to develop the sporting and commercial infrastructure for the men’s and women’s teams that will deliver results for future generations of Everton supporters.”
With the takeover on track to be completed before the January transfer window opens, 777 are keen to make a couple of new signings in the New Year.
The firm have already acquired several football teams including in Genoa in Italy, Standard Liege in Belgium, Red Star F.C. in France, CR Vasco da Gama in Brazil, and Hertha BSC in Germany.