Everton takeover: ‘Not for Premier League to decide’ on ownership

Everton takeover: ‘Not for Premier League to decide’ on ownership

14 May 2024 0 By Total Football News

The future ownership of Everton will be decided by current owner Farhad Moshiri and not by the Premier League, says the English top flight’s chief executive Richard Masters.

777 Partners agreed to buy Moshiri’s 94% stake in September but there is increasing uncertainty over the takeover amid concerning developments around the Miami-based firm.

Appearing in front of a select committee on Parliament’s Football Governance Bill on Tuesday, Masters was asked why he had not rejected 777’s takeover.

“The Premier League’s role in this, as regulator, is to perform the test,” said Masters.

“It is not to decide who the current owner wants to sell his club to. That is his decision. At the moment, he wants to continue to have discussions with 777 about it.”

Last week, 777 engaged finance restructuring experts, casting further doubts over its ability to complete the deal.

Moshiri has held talks with 777 as he looks for clarity regarding the situation, and whether it has the cash available to pay off a £158m loan owed to MSP Sports Capital.

And eight months on from agreeing to buy the club, 777 continues to undergo scrutiny from the Premier League as to whether it passes the Owners’ and Directors’ Test.

Last week, Everton’s Fan Advisory Board called for the Premier League to dismiss 777 Partners’ takeover bid and to “allow discussions with more suitable owners” to take place.

This article was originally posted on https://www.bbc.co.uk/sport/football/articles/c3gxxlpk1mjo