Everton’s £550m takeover could collapse as 777 Partners miss key deadline
Debt-laden Everton's £550m takeover is in danger of falling through over doubts about how prospective new owners 777 Partners are financing the deal, talkSPORT understands.
The American-based company are believed to have missed a deadline set by the Financial Conduct Authority (FCA) to provide up-to-date financial records.
A source familiar with the sale process told talkSPORT: «Without the correct financial information it is hard to work out where the money is coming from. I'd imagine that is the basis of the FCA issue.»
Without approval from the FCA, 777 Partners, who have declined to comment, will not pass the Premier League's recently beefed-up owners and directors test.
It is a nightmare scenario for Everton who are already being investigated for FFP breaches that could lead to a potential points deduction and are in the process of building a new stadium at Bramley Moore Dock.
777 Partners had agreed a £550million deal to buy the Toffees after reaching an agreement with owner Farhad Moshiri.
Unless those documents are provided, the government backed regulator will not approve the sale.
777 Partners, founded in 2015, is an American private investment company that have a varied portfolio of investments from sports teams to insurance, entertainment and aviation.
The firm, who are worth around £8billion, already have stakes in seven other football clubs — the most notable being Sevilla in Spain.
Serie A's Genoa, Belgium side Standard Liege, French team Red Star, CR Vasco da Gama in Brazil, Bundesliga outfit Hertha Berlin and Melbourne Victory in Australia are also on their books.
777 co-founder Josh Wander will also be subject to the Premier League's owners’ and directors’ test, having been arrested in 2003 for cocaine
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