Everton may face a significant setback in their takeover bid, causing frustration for 777 Partners. Despite the Miami-based firm’s repeated efforts to express interest in buying the club, the ongoing saga has yet to reach a conclusion, leaving them disappointed.
The Toffees’ spirits appeared to have been lifted when the Premier League reduced their original ten point deduction was reduced to just six, resulting in them flying out of the drop zone. However, now they may well be bracing themselves for some terrible news.
The Premier League has dedicated ample time to thoroughly assess the reliability of potential owners, particularly amidst navigating a complex Profit & Sustainability Rule process.
Despite reaching an agreement to purchase the club back in September, the Premier League have yet to grant them access, prolonging the wait for 777 Partners over these ensuing months.
777 Partners and Everton deal set to break down
The Financial Times have revealed a report which states: “A Bermudian financial structure used by the Miami-based bidder for Everton Football Club to funnel money invested for widows and orphans into the sport has begun to unravel.”
As 777 Partners face mounting criticism from various quarters and heightened scrutiny, this latest report is sure to compound their challenges even further.
It now appears evident that the group in question are not fit for purpose to own and run a Premier League club. And now the club may suffer from it as they will likely need to sell their best players in the summer, even if they stay in the Premier League.
If the Toffees were to face relegation to the Championship then the consequences could be disastrous.