After six months into the saga, there is still no clarity on when 777 Partners’ takeover of Everton will take place.
Last week, the Premier League dropped indications that they are willing to give 777 the green light for the takeover to go through but they will have to meet certain conditions.
The Miami-based group are confident of meeting the league’s demands. They are committed to turning their loan to the club, but whether they have the finances to back up that confidence remains to be seen.
According to Patrick Boyland of The Athletic, the 777 Partners who are yet to gain outright approval for their deal need to “produce significant finance” to gain the go-ahead to proceed.
The journalist claims that a definite verdict on the takeover will come in April. Both Farhad Moshiri and the prospective new owners have pressed the issue to the Premier League and they have asked for an immediate resolution.
“The first step will involve the league giving what is known as a ‘soft signal’, either approving or rejecting 777, with the matter then referred to an independent oversight panel who will check whether due process has been followed. Those close to the deal expect that final process to take around a week,” Boyland explained for The Athletic.
Everton takeover delay hurting the club
At the moment, Everton are dealing with other problems as well. The club will set for another round of hearings for the PSR case this week, and they could lose more points, having already seen six points taken off.
The Toffees are perilously close to the relegation zone and they have a strong fight in their hands for survival. The uncertainty over the takeover has affected everyone at the club including the playing staff. Everton are yet to win a game in 2024, and the results need to improve.
The club cannot make plans for the future unless the takeover goes through, and it appears that they have to wait until the next month to get a clear picture.
