Sources: New Everton owners threatened with £300m legal battle
777 Partners are at risk of facing a £300million legal battle if they take control of Everton, sources have told Football Insider.
The US-based investment group are on the brink of purchasing the Merseyside club from Farhad Moshiri in a deal reportedly worth more than £550million.
However, the takeover group could face a new hurdle in the shape of a very expensive legal battle.
Football Insider understands that Burnley, Leeds United and Leicester City are prepared to sue the club for £300million if found guilty of breaching spending rules.
All three clubs have written to 777 Partners to inform them of their intentions to sue Everton depending on the outcome of their hearing.
The Toffees are set to attend a Premier League independent tribunal on 25 October.
They were charged for breaching Profit and Sustainability rules in March after posting losses of £313.5m over a three-year period.
Regulations prohibit Premier League clubs from losing over £105million over a three-year period.
During the three-year period that is being investigated, Burnley, Leeds and Leicester were all demoted from the top flight into the Championship.
The trio are now wanting £100million in compensation each to cover the losses of one top-flight season.
777 Partners would be responsible for delivering those funds if they take over Everton and the Toffees are found guilty.
It is yet another complication for the US group, who may also have to repay £100million to MSP Holdings if they decide to trigger a change-of-control clause in their agreement.