Everton takeover: O’Rourke stunned by ‘staggering’ update
Everton have been given false hope by the Premier League after the way it has handled the proposed takeover by 777 Partners.
Speaking on the latest edition of Football Insider’s Inside Track podcast, senior correspondent Pete O’Rourke admitted it’s “staggering” the US investment firm passed the governing body’s fit and proper test given the negative reports around the company in recent months.
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.
Football Insider revealed on 10 May the takeover will not be completed despite talks around the deal continuing to drag on at Goodison Park.
777 Partners will not complete Everton takeover
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”.
It comes after 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 revealed the group has failed to prove it has the funding to get the deal over the line, while protests at other 777-owned clubs have raised questions about its suitability to take control on Merseyside.
Football Insider revealed last month Moshiri has another bidder ready to take over the club should the deal fall through.
Goodison chiefs will be keen to resolve the situation as quickly as possible before the club’s widely-documented financial issues get any worse.
In other news, Everton will accept “significant” offer for star man.
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