Everton’s majority shareholder Farhad Moshiri has reportedly agreed to extend talks with 777 Partners in the hope that a takeover deal can be reached.
According to The TelegraphMoshiri has given the crisis-hit American investment fund until the end of May to reach an agreement on the purchase of Everton football club.
The outlet claims that after “days of personal discussions,” Mr. Moshiri has “agreed to extend his sale and purchase agreement of the Everton Football club” despite the terms of that original deal “expiring last week.”
777 Partners have been providing the Merseyside team with capital of late to help with the club’s operational funding – with concerns that Everton could face administration if they do not find a new investor.
However, there are some doubts over the company’s suitability to take over Everton after the organisation, which was led in the bidding process by the fund’s co-founder Josh Wander, reportedly brought in financial experts to help restructure the club.
BBC Sports claims that the Miami-based company has appointed a restructuring firm, B Riley Financial, in the past five days to help them overcome “several operational challenges.”
The Miami-based organization recently saw their Australian airline, Bonza, go bankrupt, while their football club, Standard Liège, is also under a transfer embargo after failing to meet payments for two players.
Standard’s players have also not been paid since April, with the fear that their players will only be paid at the end of the season.
More to follow…
