Everton's £550m deal 'going ahead as planned' despite rumours of collapse

18 October 2023 , 10:32

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777 Partners are hoping to complete a takeover of Everton (Image: Getty Images)

Everton's proposed takeover is going ahead as planned - despite reports of the £550million deal being on the brink of collapse.

Supporters are desperate for owner Farhad Moshiri to sell up after several poor transfers. Everton have spent more than £750million on players since Moshiri bought a stake in the club in 2016, but they have battled relegation in each of the past two seasons.

The Toffees are facing a possible points deduction after allegedly breaching Financial Fair Play (FFP) rules, and they are spending millions of pounds on a new 52,888-seater stadium at Bramley-Moore Dock. It's hoped the ground will be opened next year.

Moshiri has agreed a £550m deal to sell the Merseyside club to 777 Partners, an American private investment company. Reports on Wednesday suggested the takeover is in doubt, but a source close to Everton has told Mirror Football this isn't the case. Mirror Football can also confirm there is NO deadline for the takeover to be completed.

According to The Sun, 777 Partners are yet to provide audited statements to the Financial Conduct Authority (FCA). Everton will need to get the FCA's approval before a takeover can be finalised due to a recent change in the Premier League's rule book.

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That has understandably made Everton fans even more worried, with the Premier League opening an inquiry into their alleged FFP breaches next week - putting them in danger of a points deduction. Yet there aren't expected to be any problems with the takeover.

Farhad Moshiri is trying to sell Everton (Getty Images)

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All Premier League clubs approved a new owners' and directors' test in March that involves FCA approval. Everton told The New York Times on Wednesday: "Out of respect for the process, 777 Partners will not be commenting on the ongoing regulatory approval process for its proposed acquisition of Everton FC."

Moshiri described 777 Partners as "the right people" to take Everton forward. He told Sky Sports: "The more time that I have spent with the 777 team, the more my confidence increases that we have found the right people to take the club forward in the modern era."

Speaking on Monday, Moshiri added: "They are highly professional and deliver exactly when they say they will, and I look forward to them achieving all their regulatory approvals and proceeding to completion on the timetable we set."

Everton are currently 16th in the Premier League after winning two of their first eight league fixtures this season under Sean Dyche. Their next game is against title-chasing Liverpool at Anfield on Saturday in the Merseyside derby.

Tom Blow