Everton takeover could trigger lawsuit as deadline nears – Kieran Maguire
Everton owner Farhad Moshiri will fear that he could face a lawsuit from 777 Partners if he looks for alternative takeover options.
That is the view of finance expert Kieran Maguire, who exclusively told Football Insider that Moshiri must be careful that turning to new bidders does not breach the exclusivity agreement with 777.
The US group struck a deal with Moshiri to buy his majority stake in Everton back in September, but they are yet to complete an agreement after failing to meet conditions laid out by the Premier League.
It has been reported that 777 now have until May 31st to complete a deal before Moshiri can explore alternative takeover options.
However, Moshiri struck an exclusivity deal with 777 Partners and Maguire is concerned that exploring other options could result in a breach of contract and potential lawsuit.
Everton takeover could result in breach of contract with 777
“I think there will be repercussions for this deadline,” Maguire told Football Insider’s Sean Fisher.
“It appears that Moshiri has an exclusivity contract with 777 Partners – although whether they will still be around in its current form is open to question.
“It could be that Josh Wander and his merry men have departed because the focus is turning to the people that have put 777 in this financial catastrophe.
“So the lawyers will be looking at the contract and Moshiri will be concerned that he doesn’t get a lawsuit for a potential breach of contract.“
In other news, Everton land £130m payment and it’s going straight to the players – Kieran Maguire
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