Premier League face lawsuit after Everton takeover rejected - Keith Wyness

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Published on:

03 Mar 2024, 2:30 pm

Former Everton chief Keith Wyness has claimed that 777 Partners could sue the Premier League if their takeover deal is rejected.

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 that the Premier League will have to reject the takeover deal soon.

777 Partners struck a £500million takeover deal to buy Farhad Moshiri’s majority stake at Goodison Park in September 2023, but the Miami-based firm have faced questions over their source of funding.

It is understood that the Premier League requires proof that 777 Partners could fund Everton over the next three years in order to approve the deal.

As revealed by Football Insider, 777 Partners are set to hold face-to-face talks with Premier League officials before a final decision is made.

Premier League face 777 Partners lawsuit if they reject Everton takeover deal

“There have been stories coming out again about 777 Partners in the last few days about problems with their reinsurance business,” Wyness told Football Insider.

“There was a shareholder's call with Kenneth King, who runs a company called A-CAP, which has been providing a lot of the business for 777.

“He's already publicly said that he's going to be withdrawing a lot of his business from the 777 reinsurance company in Bermuda, which is where the majority of the cash is coming from for their football ventures.

“So if news keeps coming, then I think things are going to change - it's going to be hard to say how long that's going to take.

“But it's got to come to a point when the Premier League says no and reject the bid.

“But obviously, it's a legal minefield because 777 can then sue the Premier League if they decide it's a wrong judgment.”

In other news, Everton expecting 12-point deduction in total as news emerges on second charge

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