The ECHO looks at the issues at play as Everton's future hinges on the due diligence of regulatory bodies
Farhad Moshiri’s troubled reign at Everton could soon be over after he agreed to sell his shares to US private investment firm 777 Partners.
News that Moshiri planned to sell Everton broke at 10am on Friday with the club issuing a public statement quoting both the 68-year-old and 777 co-founder Josh Wander. Blues boss Sean Dyche was at the club’s Finch Farm training ground when he was informed in advance of the announcement by director of football Kevin Thelwell. Dyche has not had any dealings with 777 and said he did not believe the “noise” of a potential takeover would impact preparations for the match with Arsenal on Sunday.
While he has spoken about that hunt for financial support, a process that began in the first half of 2022, he had repeatedly denied the club was for sale. Exclusivity periods were agreed with a US consortium led by businessman Maciek Kaminski in the summer of last year and then New York-based investors MSP Capital this summer, but neither ended with a deal.
That Moshiri’s regime may end amid financial difficulties highlights the sad irony of his time with the club. His arrival was heralded as the dawn of a new future for the Blues but the following years were characterised by reckless spending in the transfer market, constant managerial change and a decline on the pitch.
That process will include scrutiny from the Premier League, FA and FCA. The most high profile of the tests that will be applied to 777’s deal is the Premier League’s Owners’ and Directors’ Test. This outlines requirements that would prevent someone from becoming an owner or director, including certain criminal convictions, any sporting bans or breaches of football regulations.
Should it be completed, Everton would join Hertha Berlin, Sevilla, Standard Liege, Red Star, Melbourne Victory, Vasco de Gama and Genoa within its investment portfolio. The group’s interest in most of those clubs began in 2022 and so its involvement is difficult to assess. However, fan groups at several of those clubs have launched protests against 777.
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