Alan Myers shares major development on Everton’s £550m takeover

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There have been some major developments over the proposed takeover of Everton, as earlier reports indicated that the deal could fall through.

A report today indicated that the deal could collapse as 777 Partners failed to provide audited financial statements to the Financial Conduct Authority.

With the deal potentially reaching £550m, every aspect of it needs to be closely monitored, and this could have proven to be a huge stumbling block.

However, journalist Alan Myers has now claimed that the deal is not dead yet, with talks progressing between all parties.

Everton’s takeover delay

Myers has now tweeted that 777 Partners are talking to the Financial Conduct Authority to try and move past this hiccup in the takeover process.

“My understanding is that the process with the regulatory authorities remains ongoing and talks continue, as we speak with 777 in the US, the process is progressing,” he tweeted.

When asked if this could open the door to other parties potentially looking to hijack the deal, Myers responded that another option looks highly unlikely.

“I think whilst there is an agreement in place with 777 and the process continues I don’t see other options being relevant.”

Trouble brewing?

Although there has been a mixed reaction to the proposed takeover, if the deal were to collapse now, then Everton could find themselves in an even worse position.

The process for Farhad Moshiri to sell the club has already taken a long time, whilst performance on the pitch continues to decline.

777 Partners have also reportedly invested £65m in the club already, and if the deal was to collapse now, it is unclear what the following position would be on the investment.

As it stands, Everton need to wait and see how this delay will affect the process, but it is definitely not an ideal scenario for all parties involved.