Everton exploring alternative buyers as deal with 777 Partners falters

Everton’s future remains shrouded in uncertainty as the club’s advisors begin exploring alternative buyers, according to the New York Times. 

This comes after months of delay in the proposed takeover by American investment firm 777 Partners.

Everton announced a deal with 777 in September 2023, but the Premier League’s conditional approval is yet to be secured due to questions surrounding the firm’s finances. 

The Toffees are already dealing with an eight-point deduction for failing to comply with the Premier League’s Profit and Sustainability Rules (PSR) and are in danger of their first top-flight relegation since 1951.

Sunday’s controversial 2-0 victory over Nottingham Forest offered temporary relief as Everton opened up a five-point gap above the relegation zone, but they’re not out of the woods yet.

While Sean Dyche’s side are fighting for their lives on the pitch, the club’s financial turmoil paints a bleak picture of their long-term sustainability.

To stave off bankruptcy, they’ve borrowed a staggering £180 million from 777, who were expected to take over the club. However, with legal issues and financial concerns plaguing the American firm, confidence is waning.

777 have previously held talks with investment firm Blue Owl Capital over a hefty £360m loan to salvage the Everton takeover, but those negotiations have been far from productive thus far.

With uncertainty surrounding 777’s ability to see out the protracted takeover, Farhad Moshiri has authorised Deloitte to explore alternative options. 

Sovereign wealth funds from the Middle East, including Qatar, are being considered despite the Premier League already having ownership groups from Saudi Arabia and the United Arab Emirates (UAE).

Everton are still battling their recent two-point deduction and will learn their fate before the end of the season. 

However, Dyche’s side must do everything in their power to ensure the outcome doesn’t affect their Premier League survival.

The victory over Forest was a positive start to the final six games, but they face a stern test in their next fixture, a Merseyside derby against Liverpool at Goodison Park.