The Guardian claims that the Premier League will decide next week regarding 777 Partners’ takeover of Everton.
The news outlet reported on March 15 on their website that the Premier League met again this week with the Miami-based investment group and that the last questions were asked before the subject was referred to the Premier League.
A verdict is anticipated for next week, and should the takeover be rejected, the club’s financial standing could be at risk.
“Next week, the Premier League board will decide whether to approve 777 Partners’ proposed ownership of Everton,” they stated.
Following last week’s meetings between 777 and the Premier League, the potential Everton owner was asked some last questions, to which it responded.
Before the Premier League board was tasked with making the ultimate decision, more talks took place at the beginning of this week.
With the takeover, Everton can now begin to move forward.
The Toffees are finally going to find out what the club’s future holds for them after months and months of conjecture.
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The club’s finances have been severely strained recently as 777 Partners has provided loans totaling up to £180 million to cover operating expenses.
But, in the event that the Premier League rejects the sale, the club will incur additional debt and face significant challenges as Farhad Moshiri will have to retake the top spot.
The sooner a decision is taken, the better, as the team needs to begin seriously preparing for the future, with relegation being a genuine possibility with their points deduction and a probable second coming up.
Things don’t appear positive even if the takeover is authorized because there are serious concerns about the owners’ financial situation. But at least everyone will have some clarity on the matter.