Everton takeover: investment bank appointed to 'begin process' of 777 Partners club sale

One of the clubs that is part of 777 Partners' portfolio has reported been put up for sale.

The Miami-based firm have been given an extension to complete their purchase of Everton until the end of the month by majority owner Farhad Moshiri. It was more than eight months ago when 777 agreed to buy Moshiri's 94.1% stake but the deal is still to be ratified by the Premier League.

In recent weeks, the chances of 777 becoming Everton's new owners have been cast into substantial doubt. They have had a $600 million fraud case filed against them in a New York court while their Australian airline Bonza entered voluntary administration.

777 already own several clubs. One is Standard Liege, although fans of the Belgium club are disgruntled. They stopped the team coach ahead of a match against Westerlo and it had to be postponed amid reports that players had not been paid in April. It has also been ruled by a Belgian court that all assets in the country belonging to 777 - founded by Josh Wander and Steven Pasko - can be seized.

As a result, the sale of Standard has started. According to L’avenir, investment bank Moelis & Company have been tasked with the transaction and there has already been interest but it will ‘take time’.

Meanwhile, Vasco de Gama removed Wander, his sister Mollie and Pasko from the board of the Brazilian club last week.