777 Partners takeover of Everton moves closer after Financial Conduct Authority 'approval'
777 Partners' prospective takeover of Everton has reportedly moved a step closer to completion after the Miami-based firm received clearance from the Financial Conduct Authority.
FCA approval is one of several hurdles the Americans must overcome before they will be majority shareholders at Goodison Park, with the takeover still awaiting the green light from the Premier League and Football Association.
The Athletic reports that the FCA, a regulatory body in the United Kingdom, operates independently from the government and any company looking to carry out regulated financial activities in the UK "must secure its approval".
Since reaching an agreement with the Blues' current majority owner Farhad Moshiri earlier this year, 777 Partners' founders Steven Pasko and Josh Wander have visited Goodison Park to watch Sean Dyche's side on many occasions.
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If successful in gaining approval from the Premier League and the FA at a later date, Everton would be the latest football club to be added to 777 Partners' portfolio, with the Americans already owning stakes in Genoa, Standard Liege, Red Star FC, Vasco da Gama and Hertha BSC among others.
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