The Miami-based company agreed a deal with Everton's majority shareholder Farhad Moshiri last week and they are moving quickly to get the deal done
Wednesday 20 September 2023 23:02, UK
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The regulatory process to allow 777 Partners to take over ownership of Everton is well under way, Sky Sports News understands.
The Miami-based company agreed a deal with Everton's majority shareholder Farhad Moshiri last week and they are moving quickly to get the deal done.
Co-founder Josh Wander was on Merseyside on Tuesday to meet manager Sean Dyche and director of football Kevin Thelwell with the discussions being described as 'extremely positive'.
Reports suggesting MSP Sports Capital, who agreed a loan agreement to provide funding for the club's new stadium at Bramley Moore Dock, could block the takeover by calling in its loan are untrue as there is no such provision for that.
Rights and Media funding, the other major club lenders, have given full consent for the 777 deal to proceed.
While it is no secret that Everton has financial issues and investment is crucial for the club to move forward, 777 Partners have already provided interim financial support ahead of closing the deal to buy the club from Moshiri, which will be used, in part, for Working Capital.
However, the feeling within 777 is that it's multi-club model — they have interests in several clubs including Hertha Berlin, Standard Liege and Genoa — will see a restructuring of Everton to achieve a stable financial club — something fans have called for, for some time.
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