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Everton warned 777 takeover has ‘no chance’ despite Moshiri extending deadline

Everton owner Farhad Moshiri has revealed he has turned down alternative offers for the club due to being tied into an agreement with the controversial 777 Partners until the end of the month.

Moshiri confirmed he had received “unsolicited approaches from other parties” in a meeting with the club’s fan advisory board (FAB) earlier this week – but told them he was “unable to engage” with them while the sales purchase agreement (SPA) with the Miami-based investment group was in force. It expires on May 31.

News that Moshiri has not been able to progress with other offers will frustrate Everton fans, who are desperate to see the club’s stalled takeover resolved. The FAB and Everton Shareholders’ Association have both called on Moshiri to pull the plug on talks with 777 Partners, branding them unfit to own the club.

And with huge uncertainty around the deal that has another week to run, Everton’s future is clouded in uncertainty. i has been told by insiders there is “virtually no chance” of the deal being completed, even if Moshiri has reaffirmed his commitment to the SPA.

The prospect of 777 Partners taking over the club appear extremely slim, with the group beset by legal and financial difficulties. They are attempting to sell Belgian club Standard Liege and other clubs in their multi-club model are in difficulties.

It is understood that there is interest from US groups and MSP Sports Capital, who are a major lender to the club, can trigger an option to take Moshiri’s stake if a £158m loan is not paid back to them.

But the end of the month now represents the club’s next “cliff edge”, with uncertainty over the takeover and how Everton will fund running costs and new stadium development. 777 have been providing loans – which are now in excess of £200m – since the takeover agreement was struck in September.

Wednesday’s meeting was first scheduled for February but had been pushed back several times and the FAB, which is an independent fans’ body that works with the club, said in a statement that many of their questions could not be answered due to “legal reasons”. The SPA is covered by a non-disclosure agreement.

The FAB have been strident in holding the club and Moshiri to account in recent weeks, burnishing their reputation as a strong voice for Everton fans in times of difficulty.

They used Wednesday’s meeting to reassert their belief that 777 Partners are unsuitable potential owners and also to criticise Moshiri for his lack of communication over the takeover.

Their statement read: “We made clear our disappointment that the meeting had taken so long to arrange, and we urged Mr Moshiri to work harder at keeping the club’s biggest stakeholders; its fans, informed with better communications, whenever there are new developments which can be announced.

“Mr Moshiri told us that he accepted our points, saying that they were valid, and he apologised for the meeting being delayed for so long. He also accepted that there should be better communication and more often. He confirmed that he has received unsolicited approaches from other parties, but that he could not engage with any of them while the SPA is in place.”


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