Everton takeover: Keith Wyness praises 777 Partners as ‘incredible’ new details emerge
Former Everton chief Keith Wyness has insisted 777 Partners “deserve credit” for their perseverance in trying to buy the club after an “incredible” seven-month wait for approval.
Speaking on the new edition of Football Insider’s Inside Track podcast, the 66-year-old – who served as CEO at Goodison Park between 2004 and 2009 and now runs a football consultancy advising elite clubs – suggested the time taken means there are “issues and questions to be answered”.
777 agreed to buy Everton from Farhad Moshiri back in September, but have been waiting for Premier League approval for almost seven months.
The US-based investors have supplied more than £160million in loans to the Toffees in that time to help with operating costs and stadium construction fees.
777 Partners ‘deserve credit’ after seven-month Everton takeover wait, says Wyness
Recent reports have suggested 777 have received a letter from the Premier League stating they are “minded to approve” the bid – if they can meet multiple stringent conditions.
Wyness told Football Insider‘s Insider Track podcast: “We’re up to almost seven months now – it’s incredible.
“Comparing it to Jim Ratcliffe at Man United, he got his approval in 81 days.
“I think 777 do deserve credit for sticking at it for so long. They deserve credit for funding the club.
“They’re up to about £160million or more.
“People say they haven’t got the money, but they’ve shown that they do have the money.
“There’s a lot of noise around 777, and the time it has taken indicates there are issues and questions to be answered.
“The latest statement, although there hasn’t been anything official, is that the Premier League are minded to approve the takeover – with conditions.
“We’ve not seen the detail yet – but they could set an impossible bunch of hurdles to jump over.
“It’s the devil in the detail.
“Some of the conditions could include paying back around £300million in loans from MSP and 777, putting money in escrow, and setting aside money to finish the season.
“That’s a lot of money to set aside right now, and we’ve seen that 777 allegedly have problems with their own funding.
“Raising that sort of money is going to be a big ask.
“Would that really be a genuine approval from the Premier League?”
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