In the midst of the Premier League’s Owners’ and Directors’ exam, a new report has provided an update on the possible deal between Everton and 777 Partners in the ongoing struggle to get the financial boost of new owners.
News of the Everton takeover
The Premier League has not yet approved 777 Partners’ ownership of Everton, despite the Miami-based private investment firm and Everton having first struck a deal in September. This is because of several issues.
“The nature of ownership and financing of top football clubs has changed immeasurably since I first invested in Everton over seven years ago,” said current owner Farhad Moshiri, expressing his satisfaction at the moment.
Farhad, Miki, and Everton
“The days of an owner/benefactor are seemingly out of reach for most, and the biggest clubs are now typically owned by well-resourced private equity firms, specialist sports investors or state-backed companies and funds.”
Even in March, though, Moshiri is still in command at Goodison Park, where the Toffees are accused of breaking Financial Fair Play regulations twice already this season, and he has yet to witness a resolution to the takeover. Furthermore, the most recent stories regarding the possible takeover haven’t exactly offered good news.Undoubtedly, Moshiri would have been hoping for the takeover to be authorized by now, but the Premier League’s continued scrutiny of the Miami-based company six months after the original deal doesn’t exactly imply that things will work out well. And the Toffees might even benefit from that.
In the summer of 2023, 777 Partners owed debtors a total of $3.6 billion, according to a document that Josimir obtained. Additionally, according to Philippe Auclair and Paul Brown, a credit rating agency downgraded one of 777’s primary funding sources, raising even more questions about their reliability.
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