Everton CEO gives 777 Partners takeover update and makes Farhad Moshiri silence admission

777 Partners agreed to an Everton takeover in September but it is still to be ratified by the Premier League.

This article contains affiliate links. We may earn a small commission on items purchased through this article, but that does not affect our editorial judgement.

A close up shot of an Everton corner flagA close up shot of an Everton corner flag
A close up shot of an Everton corner flag

Everton interim chief executive Colin Chong is confident there will be more clarity over 777 Partners' prospective takeover in the coming weeks.

The Miami-based firm agreed to purchase majority shareholder Farhad Moshiri's 94.1% stake in the club last September. But six months later, the deal is still to be ratified.

Hide Ad
Hide Ad

Reports have suggested that the Premier League are willing to approve the takeover as long as certain conditions have been met. Meanwhile, it was suggested by iNews that 777 have now loaned Everton in the region of £200 million.

The Everton Fan Advisory Board recently wrote to 777, Moshiri and the Premier League asking for answers. Chong, addressing supporters ahead of Everton's return to action against Bournemouth tomorrow, says that there has been a deliberate silence from the pair as they do not want to provide a 'running commentary;.

Chong said via the club's website: "I’m confident that in the coming weeks, we will have greater clarity in terms of what is needed on and off the field as we drive this club forward.

"To that end, we are approaching the final stages of what has been a comprehensive, but long, regulatory process to progress the takeover agreed between our majority shareholder, Farhad Moshiri, and 777 Partners in the autumn of last year.

Hide Ad
Hide Ad

"This transaction requires approval from the Premier League, the Football Association, and the Financial Conduct Authority in order to proceed.

"It is a process that has taken longer than any of us anticipated, although certainty over timescales was always a challenge, given this is the first such full takeover of a Premier League club since amendments were made to the regulatory approval process in March 2023.

"Out of respect for that process and aside from affirmations of a collective commitment to complete the transaction, Mr Moshiri and 777 Partners have deliberately not provided detailed running commentary during the regulatory review period. And that must remain the case until the process has concluded.

"But we want to provide an assurance to every Evertonian that communication regarding plans for the future will be shared at the earliest opportunity following the conclusion to that process."

Related topics:

Comment Guidelines

National World encourages reader discussion on our stories. User feedback, insights and back-and-forth exchanges add a rich layer of context to reporting. Please review our Community Guidelines before commenting.