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777 Partners could buy Everton for a “cheaper” price if they are relegated to the Championship,, transfer correspondent Pete O’Rourke revealed that there are “major doubts” as to whether the American investment group will complete their takeover of the struggling Toffees.
777 agreed to buy Farhad Moshiri’s 94.1 per cent stake in the club in September for £500million, but the deal is yet to be finalised following months of scrutiny regarding their ability to raise funds to complete the takeover.The Miami-based group pushed back their target date to buy Moshiri’s stake in the club after they weregranted a last-gasp extension to repay £160million of loans to sports private equity firm MSP Sports Capital.
This loan extension is due to expire early next month, meaning it will need to be paid back soon or the club could fall into MSP’s hands as the loan was secured against 51 per cent of Moshiri’s majority stake in the club. Join the Football Insider WhatsApp channel to get all our exclusives and the breaking transfer news FIRST.
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Everton move step closer to 777 Partners takeover after Premier League 'minded to approve' proposed deal777 Partners have moved a step closer to a takeover of Everton after receiving a letter from the Premier League in which it is 'minded to approve' the takeover.
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Proposed new Everton owners 777 Partners move closer to takeoverProposed new owners of Everton Football Club, 777 Partners, have received a letter from the Premier League indicating their approval of the takeover. However, certain conditions need to be met before full approval can be granted. The group has been in discussions with majority shareholder Farhad Moshiri and has been providing funds for the club's working capital and stadium costs. The deal is expected to reach £200m by April.
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Everton takeover: 777 Partners latest after Premier League approval claimA report claims to have seen a letter from the Premier League board to 777 Partners saying 'it is currently minded' to back the offer to complete a takeover of Everton
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Everton takeover: who is responsible for club's fate as 777 decision nearsProfiles of the five Premier League board members who will decide whether or not to approve 777 Partners' proposed takeover of Everton
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Everton takeover: Supporters call for answers from Moshiri, 777 and EPLThe Everton Fan Advisory Board want answers from Farhad Moshiri, the Premier League and 777 Partners
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Everton borrow more money from 777 Partners to cover wages and stadium costsEverton could also hear the verdict of their second alleged breach as early as next week
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