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777 Partners left hanging by Premier League

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Josh Wander still doesn’t know when the meeting he is due to have with the Premier League regarding the Everton takeover is going to happen, according to The Times.

 

Martin Ziegler reported via the paper’s website on 1 March that the frustrated co-founder of 777 Partners thinks the reason the league authorities’

 

delay in making a decision on the bid is due to the multiple profit and sustainability referrals the club have been subject to.

 

 

But it now appears that accord is at least incomplete as there is apparently no timeframe involved at this stage.

 

Everton had their previous 10-point deduction reduced to six on appeal on 26 February,

 

but have a second hearing on the cards in the coming weeks with another potential sanction due.

 

777 Partners Everton takeover delay rumbles on amid points deduction fallout

Since the American company are reportedly unmoved by the first points deduction,

 

or indeed the possibility of a second, there seems no obvious reason why the takeover would need to wait for both to be settled.

 

And given the possibility that a second hearing and subsequent appeal hearing could see the situation drag on past the end of the

 

Premier League season that would mean the buy-out of Farhad Moshiri being left undecided for approaching nine months.

 

777 have already provided around £190million in loans for the club’s running costs and are said to be ready to draw the line again,

 

otherwise three more months will increase that debt significantly.

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Wander is believed to be in the UK currently, and the emergence of planned in-person discussions seemed like a breakthrough towards an answer

 

one way or another, even if that in itself seemed like the least that should have been done during a takeover process that has stretched to double the expected timescale.

 

 

But if it is the case that Masters and company have just agreed to a meeting at some unspecified time in the future it seems vague enough as to not mean much at all.

 

A takeover of a Premier League football club is clearly an important and complicated

 

matter which has to go through the right processes, and 777 appear to be far from the most straightforward company to assess.

 

But to be 24 weeks down the line while the club is racking up more and more debt without anyone apparently having an idea of what

 

the outcome will be seems an unsustainable process, and given the level of suspicion already from Evertonians towards the Premier League only invites further conspiracy fears.

 

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