Miami-based 777 Partners have missed the deadline of May 31 to secure funds to complete Everton takeover
Everton owner Farhad Moshiri is moving forward with plans to attract other willing buyers after a deadline with 777 Partners passed without the required conditions being met.
READ MORE: Everton takeover: John Textor's chances after 777 deadline as 'elegant' MSP solution suggested Those conditions were that 777 loans provided to the club for working capital since the turn of the year, which now stands at just north of £200m, have to be converted into equity; funds are required in an escrow account to meet financial obligations for the remainder of the season; proof of funding for the new stadium completion; and a £158m loan to be repaid to MSP Sports Capital.
But even though sources close to Wander claimed that he continued to be bullish about 777’s chances of acquiring Everton, the reality was that, with Wander and Pasko now no longer on the board of football operations, having been removed in May, the focus for some weeks had been on what happens with the businesses and teams they already own, with investment bank Moelis instructed to seek expressions of interest over the sale of some of 777’s football assets.
Farhad Moshiri Josh Wander 777 Partners
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