Premier League AGREE to meeting with Everton’s proposed buyers 777Partners as they close in on decision over whether to approve the controversial takeover
- Mail Sport has learned that league officials will meet Josh Wander this week
- 777Partners are frustrated by the time it takes to secure a meeting
- They announced a deal to buy Everton from Farhad Moshiri last summer
The Premier League has given the green light to a meeting with Everton’s proposed buyers 777Partners as they move closer to a decision on whether to approve the controversial takeover.
Mail Sport has learned that league officials will finally meet with 777 co-founder Josh Wander this week to discuss the bid for Everton, which the US private equity firm is interpreting as a positive development.
It is believed that 777 are frustrated at the length of time it has taken to secure a Premier League meeting after a deal to buy Everton from Farhad Moshiri was announced last summer.
Everton’s two charges for breaching profit and sustainability rules have not helped matters, but the main reason for the delay is the complex nature of 777’s financial arrangements, as they own more than 60 companies whose transactions are closely linked.
The Premier League asked 777 last month to provide more information about the source of funding and to prove their ability to finance Everton for the next three years, which the Miami-based company has certainly done.
Premier League officials are due to meet with 777Partners co-founder Josh Wander this week
777 are frustrated at the length of time it has taken to secure a Premier League meeting after a deal to buy Everton from Farhad Moshiri was announced last summer
They have already invested around £190 million in the club through loans to cover their running costs and costs of building their new stadium at Bramley-Moore Dock (pictured)
777 have already invested around £190 million in Everton through loans to cover their running costs and costs incurred in building their new stadium at Bramley-Moore Dock.
The Premier League will not make an immediate decision following the meeting with Wander, but will instead see it as an opportunity to clarify some key aspects of the deal.
While Premier League approval would bring huge relief to Everton and 777, this is not the final stage of the process as the takeover still needs to be ratified by an independent oversight panel, which would take several weeks.
As Mail Sport reported last week, 777 say they will not continue to fund Everton beyond this month without Premier League approval.