Everton Initiates Search for Alternative Buyer Amid Delayed Sale Process

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Current Situation

Advisors for Everton, one of the oldest teams in English soccer and a founding member of the Premier League, have initiated the search for an alternative buyer for the financially troubled club, according to sources familiar with the decision.

Delayed Sale Process

Everton had announced a sale agreement with an American investment firm, 777 Partners, in September. However, the Premier League has not yet granted full approval of the deal after seven months, primarily due to concerns about 777’s financial status.

Financial Struggles

Everton’s financial woes have been exacerbated by two points deductions this season for failing to comply with the Premier League’s financial regulations. The club has borrowed approximately £160 million ($200 million) from 777 Partners to avoid bankruptcy threats.

Despite ongoing efforts to finalize the deal with 777 Partners, the club’s owner, Farhad Moshiri, has authorized Deloitte to explore other potential buyers amid growing uncertainties about the current situation.

A spokesperson for Mr. Moshiri emphasized that the agreement with 777 Partners is still active, and they are working towards its completion.

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