halewoodblue
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Post by halewoodblue on Dec 18, 2023 11:11:43 GMT
Expect this done early Jan
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Post by rugbytoffee on Dec 28, 2023 19:25:25 GMT
Everton prospective owners 777 Partners are facing up to a 'big hurdle' in their attempts to complete a takeover at Goodison Park, and journalist Paul Brown has told GIVEMESPORT whether there is confidence within the American private equity firm.
While Sean Dyche's side enjoyed a resurgence by registering four Premier League wins on the spin before suffering back-to-back defeats at the hands of Tottenham Hotspur and reigning champions Manchester City, there is still uncertainty over the future running of the Toffees.
Farhad Moshiri, who has been on Merseyside since initially acquiring 49.9 per cent of Everton's shares in February 2016, has remained at the helm during a testing period in the club's history and following lengthy negotiations. Everton moved a step closer to being under new ownership when the Financial Conduct Authority gave 777 Partners their blessing to complete a takeover during the festive period, according to The Athletic, but the hierarchical change remains subject to regulatory approval from the Premier League and Football Association. The report suggests the Miami-based group, who signed an agreement to acquire the entirety of Moshiri's stake in September, had always remained confident of securing approval from the financial regulatory body as they aim to gain control of the Toffees.
Receiving clearance for the bid comes after it emerged that 777 Partners were threatening to stop funding Everton beyond the end of the month - having already loaned more than £100million for operating costs - due to the Premier League indicating that the takeover will not be approved before the turn of the year. Respected reporter Brown recently told GIVEMESPORT that he had suspicions that the Americans had made their stance public in an attempt to put pressure on the Premier League to rush into a decision over whether to allow them to collect the keys to Goodison Park.
Josh Wander, who is leading 777 Partners' pursuit and agreed an initial £500million fee with Moshiri, has remained interested in acquiring Everton despite the club being rocked by a 10-point deduction - the heaviest punishment in Premier League history - for breaching financial regulations. But it is understood that 777 Partners were keen to re-negotiate the terms of the deal after the Toffees were found guilty of breaking spending rules, with them being eager to lower the agreed price when they held fresh talks with the current owner. Although Brown is perplexed at the Financial Conduct Authority approving 777 Partners' Everton takeover bid as they were unable to provide audited accounts when they were requested, he feels the American private equity firm have bigger obstacles to overcome.
The reputable journalist understands there are concerns that the attempts to take control of the Toffees will hit a roadblock when it comes to attempting to secure the Premier League's blessing to become the majority shareholders of the Merseyside outfit.
Brown told GIVEMESPORT:
"Nothing surprises me when it comes to this story. What hasn't been explained yet is the fact that the FCA requested audited accounts from 777, but they weren't able to provide them. We don't know how they managed to get over that hurdle, but they have.
"I think people should bear in mind that the FCA did tell us that their role is pretty minor when it comes to getting the green light for takeovers like this. They're focused on things like credit permissions, and they're not really looking into how a football club would be run. It's not really their remit.
"Although 777 have cleared a hurdle, it is a relatively minor one in the process. The big hurdle is Premier League approval, and various people have different opinions on which way that might go. But the last news that we had from inside the company was that they didn't think this was all going to progress, so we shall see."
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Post by evertonfan1968 on Dec 29, 2023 13:20:33 GMT
Expect this done early Jan Do you think so?
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halewoodblue
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Post by halewoodblue on Dec 29, 2023 14:41:40 GMT
Expect this done early Jan Do you think so? Yeah see no reason why not. They cleared the first hurdle
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Post by rugbytoffee on Dec 30, 2023 18:34:11 GMT
Yeah see no reason why not. They cleared the first hurdle I can't see it being totally completed until the end of the season , if we are relegated , price will drop. Only 5 more months to drag this out.
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