April 11, 2024

BBC journalist shares whether 777 Partners takeover of Everton will be completed this week.

Shamoon Hafez has reported there is unlikely to be any news regarding 777 Partners’ takeover of Everton this week, which was initially set as the timeframe for the takeover’s completion.

The BBC Sport journalist shared that the initial 12-week timeline given when 777 agreed to purchase Farhad Moshiri’s majority take in the club will pass after this week, with still no news on whether it will be approved.

Hafez also reported that the Premier League will have the final say on the takeover following their owners’ and directors’ test which 777 are currently undergoing.

Hafez shared the update via his personal Twitter account [4 December] as he wrote: “Into week 12 since Moshiri agreed to sell his majority stake in Everton to 777 Partners, the timeframe given for completion.

“Unlikely to be any news this week as checks remain ongoing. Key point is that the Premier League have the final say following their owners’ and directors’ test.”

The deal continues to drag on

Having already dragged past the original timeline set for the completion of the takeover, there is still no clarity as to when, or even if the deal will be completed, or when the decision from the Premier League will be heard by 777 and Everton.

You can imagine, given the uproar from Everton fans towards the Premier League in recent weeks, the reaction if 777 aren’t granted permission by the league to complete the takeover, but the longer the process goes on, the more uncertainty seems to emerge.

Initial concerns surrounding the source of 777’s funding have only heightened in recent weeks, with the group unable to provide the requested audited financial documents to undergo the relevant checks, while multiple reports have questioned the stability of their income.

With concerns surrounding the group having been a key sticking point since the beginning, the fact that the investigation will drag on beyond the expected timeframe may be a worrying sign as far as Everton are concerned as we await the final Premier League decision.

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