‘Underway’: Sky Sports provide huge update on Everton takeover

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Everton are progressing into the next stage of their takeover.

That’s according to Sky Sports, who have reported that the regulatory process to allow 777 Partners to complete their takeover is ‘well underway’.

After months of protests and speculation, Everton confirmed that they had agreed a deal with the Miami-based firm to take over Farhad Moshiri’s ownership at Goodison Park.

Despite concern over whether 777 Partners would have the funds to complete the deal, they now look to be rapidly progressing after co-founder Josh Wander arrived on Merseyside this week to meet Sean Dyche and Kevin Thelwell for ‘extremely positive’ discussions.

It has now been reported that claims of MSP Sports Capital blocking the takeover by calling in its loan for the club’s new stadium are untrue, while the other major club lenders, Rights and Media funding, have given full consent for the deal to happen.

While Everton’s takeover is progressing, it is still subject to approval by the Premier League, the FA and the Financial Conduct Authority.

On the takeover, Sky Sports News journalist Alan Myers said: “I think what 777 will bring is a serious business sense to the club.

“The club needs a serious business strategy, not fan or sentiment ownership, as nice as that is. The days of the ‘people’s club’ has gone in football now.”

Farhad Moshiri is finally closing in on bringing his seven-year tenure on Merseyside to an end – only 20 months after he increased his shares in the club from 49.9 per cent to 94 per cent.

Is Farhad Moshiri making the correct decision selling Everton to 777 Partners?

There has been a lot of uncertainty around 777 Partners’ arrival at Goodison and whether it will actually be an improvement on Moshiri’s ownership.

The American company already holds shares in clubs such as Hertha Berlin, Standard Liege and Genoa and their ownership has already been questioned and – in some cases – protested.

Speaking on Moshiri’s time at Everton on talkSPORT, Sam Allardyce said: “I was sitting here looking forward to talking to you about the takeover and what that might mean but obviously they need to look at that with a lot of scrutiny and make sure that it’s right financially.

“You couldn’t have had a better owner than Farhad Moshiri to be fair. £600m in since he took over and unfortunately not gone in the right direction. 

“Great plans and building a new stadium, but he’s probably had enough now and knows it’s time for someone else to take the reins, but who that might be needs to be selected very very carefully for the ongoing financial commitment that is needed at Everton.”