EPL says Everton still 'in discussions' with 777 as scrutiny ramps up on US firm
LONDON (AP) — Everton remains in negotiations with Miami-based 777 Partners over a takeover of the club, the English Premier League chief executive said on Tuesday, despite the investor plunging into legal and financial turmoil.
777 reached an agreement with Everton in September to buy out the 94.1% stake of the club majority shareholder, Farhad Moshiri. The deal was subject to the approval of English soccer authorities, and it has yet to be finalized by the Premier League eight months later.
The prospective sale has been thrown into doubt because 777 is facing a $600 million fraud lawsuit in a federal court in New York and its Australian airline is grounded. It has raised concerns about the group’s suitability as a soccer club owner and how it could pass the Premier League owners and directors test.
While speaking at a parliamentary committee meeting of the British government, Premier League chief executive Richard Masters was asked about the competition’s role in overseeing the potential deal.