The New York Times report that 777 Partners have failed to provide all the necessary audited statements to a regulator
The proposed takeover of Everton by American investment firm 777 Partners has come under further scrutiny after claims emerged the company has so far failed to provide audited financial statements to a regulator.
The report, citing multiple sources with knowledge of the matter, also claims that the regulatory body is unsatisfied with the financial statements that have been provided thus far, particularly in relation to the audited statements of the holding company for its football, structured finance, media, aeroplane leasing and insurance investments.
The debt, of which some £200m has been provided by Cheshire-based lender Rights & Media Funding Limited, has been a millstone around the neck of the club and Moshiri when seeking to find a buyer, especially at a time when a major chunk of the financing for the remainder of the stadium build at Bramley-Moore Dock would also be required.
Sources state that relations were ‘terminated’ following the sanctions against Usmanov, with Moshiri still unable to realise his shareholding in USM, which equates to some five per cent, due to the sanctions that remain in situ.
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