The good news for 777 Partners is that the Premier League is finally “minded to approve” their bid to purchase Everton. The bad news is the four conditions they need to meet to make it happen.
By Paul Brown and Philippe Auclair
After days and weeks of feverish speculation surrounding their proposed purchase of Everton, 777 Partners finally got an update this week. It came after months of stasis where the Miami investment firm has waited and waited for Premier League approval – by far the biggest regulatory hurdle to be overcome.
Late Friday night, Bloomberg reported that after six months of limbo since they originally agreed a deal to buy out majority owner Farhad Moshiri, 777 Partners had at last received what appeared on the face of it to be a major breakthrough.
Josimar has confirmed that as reported, the Premier League has now put it in writing that it is “minded” to approve the bid. But this came with a rather large caveat. A series of strict conditions must be met before the governing body’s board, which still has major concerns, is in a position to make a final decision.
So is this good news or bad for 777 Partners? At face value, it would appear to represent progress after months of waiting in which the group has been beset by financial problems on all sides. It is contesting a growing number of debt recovery lawsuits in multiple jurisdictions in...
You must be a subscriber to read this article
Already a subscriber? Log in here
Josimar is entirely dependent on our subscribers to tell the stories from football that matter. Become a subscriber today!
