777 Partners finally receive Premier League time frame on Everton takeover decision
Having only struck a deal with Farhad Moshiri back in September, a process that usually takes just over ten weeks has now spilt over into the new year, with little end in sight as the Premier League takes its time deliberating over their ability to run the club.
Whilst many questions have been asked of the true financial power of the Miami-based firm, their continued investment into the Toffees despite not yet being the custodians is proving pivotal during a period where their current owner has clearly already checked out.
No longer interested in bankrolling an outfit he no longer wants, Everton seems to be surviving off the loans provided by Josh Wander and his colleagues.
Well, that continued investment could finally be set to pay dividends, with the Liverpool ECHO offering a vital update on when the decision is expected to be made on the takeover.
Journalist Dave Powell would write: ‘The additional financial commitment that has been made by the Miami-based firm, founded in 2015 by Josh Wander and Steven Pasko, points to confidence that a decision is imminent with regards to the final hurdles to clear when it comes to regulatory approval.
‘The initial process was expected to take around 12 weeks and be concluded prior to Christmas, but now into 2024, it is anticipated that a decision could well be communicated by the end of the month, something that could bring an end to Moshiri’s eight-year stint as owner of Everton.
‘But while there is understood to be confidence, backed up by the continued provision of working capital, 777 sources have also hinted that the private equity firm won’t be funding working capital indefinitely and could walk away should the situation continue to rumble on for a number of months.’
Again, the true financial might of 777 Partners is a notion constantly debated, given the dubious fiscal practices that they have been accused of in the past.
Offering questionable loans and sourcing their fortune from suspicious locations, it is no wonder that the Premier League is so apprehensive to grant them control over one of their most historic clubs.
However, on the surface, this is a potential ownership that would skyrocket Everton’s riches, even if they continue to be hamstrung by FFP.
Although this would prohibit them from spending it right away, should they get things right and turn around a business model currently bleeding money, there may be a future where they get access to the reported $12bn (£9.63bn) fortune they reportedly boast.
If so, they would be tapping into a resource that would make 777 Partners the fifth-richest owners in the entire Premier League.
