Everton takeover: 777 Partners make new funding pledge as $200m milestone passed

The US group attempting to secure a takeover of Everton has committed to a further month of support for the club.

A deal over the sale of majority shareholder Farhad Moshiri’s stake in the Blues was announced with 777 Partners in September. It is currently the subject of a protracted regulatory assessment.

In the months since, 777 has repeatedly provided funds to help the club’s operations. A plan for support through April has now been signed off.

The agreement will take the organisation’s total commitment towards Everton so far to just above $200m.

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777’s bid to purchase Moshiri’s 94.1% stake in Everton sparked the beginning of lengthy scrutiny by regulatory bodies, including the Financial Conduct Authority, Football Association and the Premier League. There was initial hope from 777 that the move would receive approval by the end of 2023 but now, more than six months later, the group is still waiting for a verdict on its plans.

Convincing the Premier League of its suitability is the last remaining hurdle of significance but remains an ongoing issue. Representatives of both the league and 777 recently met for discussions widely perceived to have marked the beginning of the end of the process.

The length of time taken to make a decision has been a cause of frustration, with Everton’s debt to the Miami based outfit growing each month and a club that has been overseen by an interim board since last summer in directional limbo. Concerns have also been raised around the group’s wider business dealings and issues across the portfolio of football clubs it has