Everton takeover: O’Rourke shares huge update after new talks
777 Partners will not become the new Everton owners despite the takeover drama continuing to drag on at Goodison Park.
Speaking on the latest edition of Football Insider’s Inside Track podcast, senior correspondent Pete O’Rourke admitted the situation has become like a “soap opera” as the US investment firm continues to try and get the deal over the line.
777 agreed to acquire Toffees owner Farhad Moshiri’s 94.1 per cent stake in the club for £500million last September.
The Miami-based group has been told by the Premier League it must satisfy multiple pre-conditions before the takeover can be approved, but the deal is still no closer to be concluded.
The Everton Shareholders’ Association (EFCSA) has now called for Moshiri to bring an end to the takeover “farce” after conceding a fit-for-purpose process “cannot possibly take this long”.
777 Partners continues to face Everton takeover challenges
777 recently sent a delayed payment of £16million to Everton for the day-to-day operational costs, taking the total the company has loaned the club to more than £200million.
O’Rourke admitted there have been several “red flags” around the prospective Toffees owners since the takeover deal was agreed and, in what is a huge and likely to be the final twist, the deal has now collapsed and will not be completed.
Protests have taken place at other 777-owned teams over how those clubs are being run, while concerns have been raised about the company’s late payments.
O’Rourke believes it’s “crucial” Moshiri sorts out Everton’s ownership problem this summer as he expects the club to face difficulties in the transfer market as they look to get on top of their financial problems.
Football Insider revealed last month the Toffees could land a third points deduction next season after already being docked eight points this year for breaching the Premier League’s spending rules.
In other news, Everton will accept “significant” offer for star man.
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