The Premier League’s lack of urgency to make a decision on the Everton takeover bid is causing increasing frustration with 777 Partners, according to talkSPORT.
The “standard timescale” for a decision like this is supposed to be 12 weeks, according to an article published on the outlet’s website on February 23. However, the Toffees are currently in their 24th week after an agreement between the Americans and Farhad Moshiri was revealed on September 15.
The arrangement would have been ratified in early December under a “standard” 12-week wait period, but as February comes to an end, there has been no response.
777 Partners, who have loaned the club over £150 million to cover operating expenses during the delay, has been requested by the Premier League to submit documents on their investment, something the business thought they had already completed.
Premier League still keep Everton waiting
There is obviously a problem if the process has now taken nearly twice as long as it usually does.
It’s difficult to determine who is at fault here—777 Partners or the Premier League—but neither result is good for the team.
The Miami-based company has loaned the club tens of millions of dollars to keep it afloat, but the Premier League has fined the Toffees twice in one season for violations of sustainability and profit policies, and the appeals panel is likewise keeping the team in the dark.
However, given that there have been numerous reports indicating that the potential new owners are unfit to take over at Everton and that their insurance division recently experienced its second credit downgrade in three months, concerns should be raised if they have given inadequate or inaccurate information.
It’s scary to think about what kind of situation the team would be placed in if the takeover is approved by the league and 777 decides to cease giving working money.
Since Farhad Moshiri will either need to resume supporting the team if the Americans aren’t selected, or else a different offer will need to emerge from the shadows very soon.
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