Miami-based firm's bid to acquire Everton has unraveled even with the payment made to the club last week
While no confirmation has been forthcoming from either side, 777 Partners ’ bid to acquire Everton is all but dead.
READ MORE: Stop hiding Farhad Moshiri - Everton supporters deserve an explanation after 777 Partners farceQuite where that situation sits is something of a grey area. Multiple sources the ECHO has spoken to have said that Moshiri has moved on from 777 and pivoted to a search for other potential suitors, but due to potential contractual obligations that still exist has not made a public declaration to that effect.
It is understood that the provision of capital to Everton was part of the agreement of Moshiri to sell the club to 777, with the firm contractually bound to make certain payments at certain times, according to sources. The latest payment was claimed to be another part of that, with the agreement still live and 777 still contractually obliged.
The fact that there hasn’t been a more public moving on from 777 Partners is down to the fact that, technically, the deal is still alive, and its failure will have to rest on 777’s inability to raise the capital required, or rejection from the Premier League. “The Premier League has made very clear the conditions that have to be met by 777 if it wishes to become the owner of Everton.
Farhad Moshiri 777 Partners Josh Wander
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
777 Partners press on with Everton takeover after £16m lands on day of chaosThe attempted takeover of Everton by 777 Partners was hit with new questions on Tuesday, though the arrival of a funding package eased some immediate concerns over the club's finances
Read more »
Everton takeover latest: 777 Partners suffer new setback as time for talk overA round-up of the latest news on 777 Partners' attempted takeover of Everton Football Club
Read more »
Everton takeover plunged into doubt amid claims 777 is running out of moneySources say they are 'confident' of completing a takeover deal but it is becoming impossible to ignore the red flags surrounding the situation
Read more »
Everton 777 takeover: Club receive further loan for day-to-day costsEverton receive a delayed payment of £16m from prospective buyers 777 Partners for day-to-day operational costs, taking the amount loaned by the Miami-based investment fund to over £200m.
Read more »
Everton 777 takeover: Club receive further loan for day-to-day costsEverton receive a delayed payment of £16m from prospective buyers 777 Partners for day-to-day operational costs, taking the amount loaned by the Miami-based investment fund to over £200m.
Read more »
Everton 777 takeover: Club receive delayed loan paymentFresh doubts have emerged over 777 Partners’ ability to fund a takeover of Everton after it was late in making a loan payment of around £15million to the Premier League club.
Read more »