The American private investment company 777 Partners’ bid to takeover Everton has reportedly stalled amid questions about the firm’s financials.
According to the New York Times, 777 Partners have failed to provide audited financial statements to the Financial Conduct Authority which must approve the deal.
The Miami-based holding company looked close to completing the takeover after they reached an agreement with the club’s majority shareholder Farhad Moshiri.
However, the sale could collapse if 777 Partners fails to provide the audited financial statements or an acceptable explanation to the British government regulator.
That could have severe financial implications for the Toffees, who are dealing with debt issues and the ongoing costs of building their new stadium at Bramley-Moore Dock.
The Merseyside club’s finances are so dire that they require monthly infusions to meet their day-to-day running costs.
For a successful takeover, 777 Partners must satisfy not only the government regulator but also the Premier League and the Football Association.
Everton have been declining since Carlo Ancelotti left Goodison Park in 2021.
They barely survived in the Premier League in the last two seasons and have been unconvincing this term.
Farhad Moshiri has come under plenty of criticism from fans for his lack of vision and pragmatism.
They were happy when the Iranian’s reign looked to be over after agreeing a deal with 777 Partners to sell the club.
But the proposed takeover is now facing hurdles and could even fall apart.
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