Everton’s takeover is ‘thrown into doubt as prospective owners 777 Partners request an extension’ to complete the deal… as American firm ‘look to raise funds’ to acquire 94.1 per cent stake in the Toffees

The potential takeover of Everton has been thrown into doubt after 777 Partners requested an extension to complete the deal, according to reports.

In September, the Toffees agreed a long-term sale of the club with the American private equity firm, but discussions appear to have stalled since then.

Last month, Farhad Moshiri – who will sell his 94.1 percent stake in the club – urged Toffees fans to ‘bear with us’ as the deal came to fruition.

However, that appears to have hit a new stumbling block as reports now claim that 777 Partners has requested an extension to complete the deal.

According to Sky News, the American company is trying to raise the money needed to acquire Moshiri’s 94.1 percent stake in the Merseyside club.

Reports claim the US company is trying to raise the money needed to acquire a 94.1 percent stake in the Merseyside club (pictured – 777 managing partner Josh Wander)

Their report claims that 777 have told the Premier League that they now expect to complete the takeover by the end of next month, after approaching several potential lenders for help in financing the deal.

Last month, Everton‘s future owners were told by the Premier League that they must provide evidence of access to more than £400 million before their long-term takeover can be approved.

In a letter to 777Partners, the Premier League indicated they were ‘interested’ in approving their bid, subject to a series of strict conditions.

777 have already invested more than £150 million in loans since reaching a deal to buy the club from Moshiri last September, with the Premier League demanding those loans be converted into equity.

The Premier League has also requested evidence of the funds required to repay a £150 million loan to MSP Capital, to pay Moshiri’s asking price, complete construction of the new stadium and cover operating costs for to cover the rest of the season.

Combined this will cost 777 over £400 million.

Following the letter from the Premier League, fans asked for clarification on what would happen if the deal falls through.

But Moshiri and 777 replied to assure them the takeover would go ahead and that the delay was due to the Premier League’s ‘approval process’.

The Toffees’ Fan Advisory Board (FAB) posted both letters from Moshiri and 777 managing partner Josh Wander to X and said they were still waiting for the Premier League’s response.

Everton majority shareholder Farhad Moshiri reached a purchase agreement in September

The Toffees are currently 16th in the Premier League table

‘We received responses to 2 of the 3 letters we sent on Monday. Our letter to the PL was postponed due to technical problems on our side,” the FAB said.

‘The PL has promised to respond next week. We will comment on all three responses in more detail once we have received and processed all of them.”

Moshiri, who first invested in Everton in 2016, said he is ‘confident’ that 777 are the right partners to take control of the Premier League club.

He said: ‘Securing full funding for the new stadium remains a priority and I can assure you from personal experience that 777 have met every request we have put to them to date.

Moshiri urged fans to ‘be patient with us’ as the club’s long-term sale enters ‘the home front’

‘I now fully understand the frustration that the Premier League approval process has taken longer than originally anticipated.

‘It’s not ideal, but we have to respect the process in the Premier League and hope we just have to live with it for a while.

“We fully respect all our regulators, are working closely and constructively with them, and are patient with us while we are at home.

“I can also assure you that as soon as there is anything definitive to say, we will share it with you immediately.”