Everton still awaiting Premier League approval for takeover

Shamoon Hafez, BBC Sport

Everton are waiting to see whether their takeover by 777 Partners will be confirmed this week.

The Miami-based investment firm agreed to purchase majority owner Farhad Moshiri’s 94% stake in the Toffees in September and have already provided £150m to fund the new stadium at Bramley Moore Dock and for day-to-day running costs.

That loan would be converted into equity should the takeover go through.

777 have received written confirmation from the Financial Conduct Authority and been given the green light from the Football Association, but are still awaiting confirmation from the Premier League, which ultimately has the final say on the takeover.

The Premier League have been sent all the relevant information required as they undertake their Owners’ and Directors’ test on 777 and co-owners Josh Wander and Steven Pasko.

The main checks centre on whether the firm can provide evidence of source of funds and give proof of adequate funds for three years of the business plan.

The team at the Premier League which is assessing 777 Partners’ suitability is the same as the one that is looking at Sir Jim Ratcliffe’s 25% purchase of Manchester United.

If approved, Wander and Pasko are expected to take up seats in the Everton boardroom.

Everton would be the latest purchase in 777’s stable of teams around the world which include full ownership or minority shareholdings in clubs such as Sevilla, Genoa, Standard Liege and Vasco da Gama.