Everton Takeover on Rocky Grounds

Everton’s long-discussed takeover by 777 Partners – which seemed to be written in stone at one point – looks less and less likely to happen.

The capital marketing company originally seemed poised to purchase the majority stake of the English Premier League (EPL) club from the current owner, Farhad Moshiri, for £500 million. However, reports suggest that the American investment firm may no longer be able to afford the transaction due to an ongoing lawsuit.

777 Partners are currently being sued for fraud after allegedly borrowing hundreds of millions of dollars from a separate investment service.

Moshiri apparently met with 777 Partners to hold crisis talks about the potential takeover. One unnamed source told a local publication on Thursday, 9 May, that the 68-year-old British-Iranian businessman was ready to pull the plug.

Other sources at the club have been reluctant to provide a comment. However, Everton’s fan advisory board published a statement via Twitter, demanding that Moshiri consider other options due to 777 Partner’s lack of transparency.

Everton need a cash injection to avoid being hit with a nine-point deduction for breaching the EPL’s profitability and sustainability rules for the second time in a row.

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