New Everton takeover concern as 777 scrambles to fund purchase

Everton face waiting until the season ends before any takeover of the club by 777 Partners, which is scrambling to raise hundreds of millions of pounds to fund the purchase.

Telegraph Sporthas been told that the United States private investment firm, which had aimed to complete its £500 million buyout of Farhad Moshiri by the end of this week, is also seeking an extension to a deadline of Monday for the repayment of a loan of almost £160 million to the Merseysiders that could prove crucial to whether a deal is concluded at all.

The latest lengthy delay over a takeover agreement stuck with Moshiri almost seven months ago follows the issuing of an ultimatum by the Premier League, which has imposed strict conditions on the proposed purchase by a firm that has faced accusations related to its ability to raise cash and its business practices, which it has repeatedly denied.

Those conditions include that 777 deposits £60 million into an escrow account for use by Everton, that it converts about £160 million of loans it has already made to the club into equity, and that it proves it has access to sufficient funding to complete the construction of a new stadium.

The investment fund co-founded by Josh Wander and Steve Pasko is said to have approached a significant number of lenders to help bankroll the purchase, including Blue Owl Capital, a US-based private credit provider.