February 25, 2024

777 Partners are ‘losing hope’ that their Everton takeover will be approved by the Premier League, sources have told Football Insider.

The US group have been waiting over 17 weeks for Premier League approval after striking an agreement to buy Farhad Moshiri’s 94 percent stake in the club back in September.

During the delays, the US group have supplied £142million to the Toffees through loans to help with operating costs and stadium construction fees.

 

Everton

The latest of those came on Monday (8 January) when 777 Partners supplied a new £40million loan to Everton.

With the Premier League still yet to make a decision on the pending takeover, well-placed sources have told Football Insider that the US firm are ‘rapidly losing hope’ of a deal being finalised.

If 777 Partners are rejected, two other parties from the US have set aside cash in preparation for a takeover bid.

The Premier League have grown concerned over 777’s source of funding after multiple complications in recent months.

777-owned club Vasco da Gama received a transfer ban in October after failing to pay owed transfer fees of around £5million.

The US group was also late paying a £900,000 fee owed to the British Basketball League.

 

Everton

They are also facing lawsuits from a group of aircraft lessors over $30million (£23.5million) in unpaid fees.

A report from Josimar on Tuesday (9 January) stated that 777 remain publicly confident about a takeover deal being completed, but insists sources inside the company are now ‘pessimistic’.

 

 

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