EXCLUSIVE-Deadline for Everton’s sale to 777Partners has already EXPIRED after Premier League due diligence process that was meant to take 12 weeks dragged on for six months.

The Premier League’s prolonged deliberation over the deal has left both parties more irritated, and the deadline for finalizing Everton’s sale to 777Partners has already passed.

Although Everton and 777 have agreed that the current standoff cannot last into next month, Mail Sport has learned that they have extended the initial completion deadline.

On September 15, Everton and 777 signed a Heads of Terms deal about the American investment firm’s acquisition of Farhad Moshiri’s 94% share in the team, subject to Premier League clearance and a ratification procedure that was anticipated to take approximately 12 weeks.

The due diligence process has taken longer than expected because to the Premier League’s repeated inquiries concerning the source and adequacy of 777’s finance, and nearly six months later, they still haven’t disclosed when they plan to make a decision.

The Premier League has the power to accept, with specific restrictions attached, or reject completely 777’s acquisition offer.

When evaluating a takeover or the parties involved, the Premier League looks at a number of factors, such as financial information concerns, funding sources and sufficiency, and indications that a fraudulent disclosure has been made.

Over 60 closely linked companies are part of the umbrella organization 777, which has made it difficult for the Premier League to evaluate their holdings.

The football branch of the corporation already owns substantial shares in five big teams, including Standard Liege and Genoa, several of which have recently complained payment delays.

Since September, 777 has given Everton loans totaling about £190 million to finance stadium construction and club operations. Both sides acknowledge that the current arrangement cannot last indefinitely.

Given the certainty of a successful outcome, 777 will be hesitant to grant Everton the additional funding it needs to operate through the end of March, when the season ends.

If the 777’s offers are turned down, there are still a number of other prospective purchasers who are interested in purchasing Everton. However, this would result in the club having even more debt since they would need to raise further money while the other transaction is being examined.

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