Kieran Maguire reports that the Premier League is concerned about a potential lawsuit from 777 Partners, the prospective Everton owners.
Miami-based investment firm 777 Partners has reached an agreement to acquire Farhad Moshiri’s controlling stake in Goodison Park. However, the Premier League’s approval is still pending for the completion of this takeover. Moshiri has extended the deadline for the deal until the end of May, but doubts persist about whether 777 Partners can satisfy the league’s conditions.
Football finance expert Kieran Maguire expressed skepticism about the feasibility of the takeover on The Price Of Football podcast. He highlighted that while the Premier League cannot compel Moshiri to endorse 777 as preferred partners, they can reject the takeover based on their stringent ownership criteria. Maguire suggested that the Premier League is wary of potential legal action from 777 but has made the deal’s fine print so demanding that it effectively renders the takeover untenable unless significant additional funding is secured.
The uncertainty surrounding 777 Partners’ acquisition has cast a shadow over Everton’s off-season. Despite doubts about their financial capacity, Premier League CEO Richard Masters has asserted that the league cannot outright reject the Miami-based firm. Recent financial troubles within 777 Partners’ other ventures have further complicated the situation, raising concerns about the viability of the Goodison Park takeover.
With administration looming as a genuine threat, there is growing urgency for Moshiri to explore alternative buyers. The precariousness of the situation underscores the need for swift action to safeguard Everton’s future. Meanwhile, setbacks like the defeat to Arsenal may only compound the challenges facing Everton, adding to the complexity of their off-field endeavors.