A potential end is finally in sight for the saga surrounding a proposed Everton takeover by 777 Partners.
The Miami-based consortium, whose deal was announced back in September last year, has hinted at a possible resolution by April, according to Liverpool Echo.
This news undoubtedly comes as a welcome relief for Evertonians, who have endured a protracted wait with the takeover process, which is now dragging into its eighth month.
However, despite the delay, 777 Partners have already taken up ownership duties, injecting approximately £180 million into the club.
These funds have been crucial in helping Everton maintain payroll obligations and ensure continued progress on the construction of the club’s eagerly anticipated Bramley-Moore Dock stadium.
The initial agreement saw 777 Partners sign an agreement to acquire Farhad Moshiri’s entire 94.1% stake in the club.
While the Premier League’s approval process is responsible for the hold-up, 777’s financial contributions suggest a strong commitment to Everton’s future.
777 co-founder and managing partner Josh Wander has been a frequent visitor at Goodison Park this season, signifying the firm’s continued commitment to finalising the deal.
However, behind the scenes, negotiations with the Premier League have hit a snag due to the complex nature of 777’s business interests.
777 remains confident of securing a takeover by April, but the timeline hinges on the conclusion of Everton’s second hearing for breaching Profit & Sustainability Rules (PSR) next week.
The Toffees are facing the possibility of a second points deduction, making their fight for Premier League survival even more precarious.
Everton fans have expressed their frustration by calling for the Premier League to suspend PSR hearings due to a perceived lack of transparency and inconsistent punishments.
Their outrage stems from Nottingham Forest’s recent four-point deduction, which they consider unjust, given their initial punishment was the worst in Premier League history.
Forest’s penalty seems lenient compared to the ten-point (later reduced to six) deduction initially handed to the Toffees, despite the Reds exceeding acceptable losses by £15m more than Everton.