Everton have shed fresh light on 777 Partners’ ongoing takeover bid.
Farhad Moshiri continues to persevere with the Americans’ proposed buy-in of his 94.1% share despite growing doubts over their financial sustainability funding.
But the Premier League have refused to approve 777’s ownership bid until they satisfy several conditions including loan repayments related to Bramley-Moore Dock.
In efforts to seek clarity on the matter, Everton’s Fan Advisory Board wrote to interim chief executive Colin Chong to request an urgent meeting over the club’s future.
Chong confirmed that Moshiri would be meeting with the group in the coming week alongside further details on contingency plans should 777 fail to past takeover tests.
“A share purchase agreement is currently in place, which gives 777 Partners the opportunity to acquire a majority shareholding in the club and this lasts until 31 May,” a statement from the FAB outlined.
“The club has confirmed, however, that plans are also in place to progress alternative scenarios, should the acquisition by 777 Partners not complete.
“Mr Chong also took the opportunity to thank supporters for their patience and support over recent months and has committed to providing further updates, both through its official communications channels and through structured dialogue with the FAB.
“Our statement last week made clear what we think needs to happen to find the right owners for our club and our position hasn’t changed.
“We will continue to keep supporters updated as we learn of any key developments, and we’ll continue to ask the necessary questions.”