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Everton takeover: 777 partners hint at possible resolution in April

Everton takeover: 777 partners hint at possible resolution in April

A potential end is finally in sight for the saga surrounding a proposed Everton takeover by 777 Partners. 

The Miami-based consortium’s deal was announced in September last year, but a possible resolution could be reached by April, according to Liverpool Echo.

This news undoubtedly comes as a welcome relief for Evertonians, who have endured a protracted wait for the takeover process to be concluded.

Despite the delay, 777 Partners have already taken up ownership duties, injecting approximately £180 million into the club. 

These funds have been crucial in helping Everton maintain payroll obligations and ensure continued progress on the construction of the club’s eagerly anticipated Bramley-Moore Dock stadium.

The initial agreement saw 777 Partners sign a deal to acquire Farhad Moshiri’s 94.1% stake in the club. 

While the Premier League’s approval process is responsible for the hold-up, 777’s financial contributions suggest a solid commitment to Everton’s future.

777 co-founder and managing partner Josh Wander has been a frequent visitor at Goodison Park this season, signifying the firm’s continued commitment to finalising the deal. 

However, negotiations with the Premier League have hit a snag due to the complex nature of 777’s business interests.

777 remains confident of securing a takeover by April, but the timeline hinges on the conclusion of Everton’s second hearing for breaching Profit & Sustainability Rules (PSR) next week.

The Toffees face the possibility of a second points deduction, making their fight for Premier League survival even more precarious. 

Everton fans have expressed frustration by calling for the Premier League to suspend PSR hearings due to a perceived lack of transparency and inconsistent punishments.

Their outrage stems from Nottingham Forest’s recent four-point deduction, which they consider unjust, given their initial punishment was the most severe in Premier League history.

Forest’s penalty seems lenient compared to the initial ten-point deduction handed to the Toffees, despite the Reds exceeding acceptable losses by £15m more than Everton.

The Merseyside club subsequently had the penalty reduced to six points, but this still does not balance with Forest’s punishment.

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