Saturday, April 13, 2024

Everton sale process ‘in the home straight’ – Farhad Moshiri

SoccerNews in General Soccer News 29 Mar 2024


Everton owner Farhad Moshiri has urged Toffees fans to “bear with us” as the protracted sale of the club enters “the home straight”.

The Toffees’ Fan Advisory Board (FAB) wrote to Moshiri, prospective owners 777 Partners and the Premier League this week seeking answers, with the takeover appearing to have stalled since it was first agreed last September.

Fans also asked for clarification on what would happen if the deal does not proceed, but Moshiri and 777 have replied to assure them the takeover will go ahead and that the delay was down to the Premier League’s “approval process”.

The FAB posted both letters from Moshiri and 777 managing partner Josh Wander on X and said they were still waiting for the Premier League’s reply.

“We have received responses to 2 of the 3 letters we sent on Monday. Our letter to the PL was delayed due to technical issues on our side,” the FAB said.

“The PL has committed to replying next week. We will comment on all 3 responses more fully once we have received and digested them all.”

Moshiri, who first invested in Everton in 2016, said he remains “confident” 777 are the right partners to take control of the Premier League club.

He said: “Securing the complete financing of the new stadium remains a priority and I can assure you from personal experience that 777 have met every ask that we have made of them to date.

“Now I completely understand the frustration that the Premier League approval process has taken longer than was originally expected.

“It is not ideal, but we must respect the Premier League’s process and hope that it is something that we must live with for only a little longer.

“We fully respect all our regulatory bodies, work closely and constructively with them, and please bear with us whilst we are in the home straight.

“I can also assure you that as soon as there is something definitive to say that we will share with you immediately.”

Wander said 777 had expected to complete the takeover in around three months when it was announced a deal was close to completion in September.

“None of us thought that this process would take over six months, as opposed to 12-14 weeks, as was our expectation,” Wander said.

“I look forward to answering your questions to the extent we are able, but I want to manage your expectations that we can’t do so prior to the transaction concluding, in line with the advice we have received with respect to the ongoing regulatory processes.

“However, all of us at 777 Partners – myself included – remain committed to having a productive working relationship with the FAB and other organised fan groups once we are owners of Everton FC.”


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