The Premier League cannot decide the outcome of Everton’s takeover bid.
Richard Masters made the admission during an appearance at a parliamentary select committee on Tuesday as 777 Partners are yet to receive clearance.
The Miami-based investors struck a deal with majority shareholder Farhad Moshiri last September for his 94.1% stake but their ratification attempts remain unresolved.
Doubts over whether the Josh Wander-led group can assume control at Goodison Park have heightened in recent weeks as the takeover saga continues to rumble on.
As owners of a global multi-club network, they are facing growing opposition from several of those clubs including Standard Liege as their financial resources dwindle.
Wander is facing pressure to resign from his position as a board member of the European Clubs’ Association, which he gained through owning the Belgian side.
But Premier League chief executive Masters conceded that the power over whether to reject 777’s bid for the Blues lies squarely with Moshiri rather than top flight chiefs.
He said: “The Premier League’s role in this, as regulator, is to perform the test.
“It is not to decide who the current owner wants to sell his club to. That is his decision. At the moment, he wants to continue to have discussions with 777 about it.
“The Premier League has made very clear the conditions that have to be met by 777 if it wishes to become the owner of Everton.
“At the moment, because the takeover hasn’t been confirmed, I will leave it to the committee to make its own conclusions for where we are with that.”