Everton and 777 Partners are close to finalising their takeover deal, with the Premier League expected to determine an exact date for a decision this week, according to The Telegraph.
The Miami-based consortium has answered all outstanding questions and the Toffees are confident of learning their fate within the next two weeks.
The Football Association (FA) has reportedly approved the deal, but they have not made an official comment.
The Premier League’s directors and owners’ test is the last hurdle in the process. It is expected to include discussions with 777 in the coming days.
The group own stakes in multiple clubs and had agreed to purchase Farhad Moshiri’s 94% stake in September. They have since provided Everton with an additional £30 million loan, bringing the total to £180m.
The verdict on the test is likely to arrive soon after the club learns the outcome of its appeal against a 10-point deduction for financial breaches.
Despite failing to agree a deal by Christmas, 777 remains optimistic. Clearance from the Financial Conduct Authority came in December, and Premier League CEO Richard Masters hinted at remaining questions last month.
All parties acknowledge that a failed takeover and subsequent administration would make recouping the £150m invested by 777 extremely difficult.
Recent allegations regarding 777 subsidiary 777Re, a Bermuda-based reinsurer, threatened to derail the deal.
However, sources close to 777 clarified that the reinsurer is under administrative control for industry reorganisation, not administration, and poses no issues for the Everton funding.
The Premier League’s test has become stricter in recent years. But resolving Everton’s situation is now a top priority, especially considering Sir Jim Ratcliffe’s investment in Manchester United received approval within eight weeks.
Everton fans can finally take a deep breath as the long-awaited takeover is seemingly drawing to a conclusion.
