777 Partners 'could pay a reduced price for Everton'

10/26/2023 Soccer

Everton’s prospective new owners 777 Partners ‘could pay a reduced price for the club’ if they are deducted points for alleged breach of Premier League’s financial rules – after they agreed £500m deal with Farhad Moshiri

  • 777 Partners agreed a £500million deal to purchase Everton back in September
  • The takeover is currently pending approval by the Premier League and FCA
  • However, the American investment firm could pay a reduced price for the club 

Prospective new Everton owners 777 Partners are reportedly expected to pay a reduced price for the club if the Toffees receive a points deduction for an alleged breach of the Premier League’s financial rules.

The US investment firm – who are led by American entrepreneur Josh Wander – agreed a £500million deal to acquire owner Farhad Moshiri’s 94.1 per cent controlling stake last month.  

However, the deal is pending approval by the Premier League and the Financial Conduct Authority (FCA), and concerns have been raised regarding the source of 777’s funding. 

Elsewhere, Wander has faced criticism for his background in the insurance industry and there are perceptions that his multi-club ownership group – which includes the likes of Standard Liege and Hertha Berlin – prioritise profit over their teams identity and traditions.

Everton’s case over an alleged breach of profitability and sustainability rules is currently being heard by an independent commission after they posted staggering financial losses of almost £372m over a three-year period. This is more than £250m above what the Premier League’s guidelines permits. 

Prospective Everton owners 777 Partners reportedly could pay a reduced price for the club if the Toffees receive a points deduction (pictured – 777’s managing partner Josh Wander)  

Farhad Moshiri agreed a deal to sell Everton to the US investment firm back in September

Mail Sport had reported on Wednesday how the top flight is pushing for a huge poitns deduction – potentially as much as 12 points – if they are found guilty, meaning Sean Dyche’s side could be plunged into near-certainties for relegation on minus points.

And, according to The Times, the result of the commission’s hearing – which is expected soon – is likely to impact upon Everton’s prospective takeover. 

The report states the American investment firm have contingency plans in place in case the club is deducted points and also if they are relegated as a result.

All potential repercussions of the case have been factored into the £500m deal agreed last month between 777 and Moshiri and will affect the final price paid for the club.

777 have reportedly been informed the club could face a heavy fine, a transfer embargo or a points deduction if found guilty.

As a result, the takeover is strongly performance-related and any of those sanctions, coupled with a relegation, would result in 777 paying less than the original £500m outlined.  

In regards to the case, if Everton are found guilty, the Premier League is likely to suggest the most punitive option which is a points deduction of up to 12, but mitigating factors could reduce this.

Any deduction might not necessarily come into place this season, with the timing of any punishment at the discretion of the commission. 

Everton’s case over an alleged breach of profitability and sustainability rules is currently being heard by an independent commission and they could be deducted as many as 12 points

777 have contingency plans in case Everton are deducted points and also if they are relegated (pictured – Wander (right centre with cap) and co-founder Steven Pasko (left centre with cap))

The more realistic punishment might be a lower points deduction, with some of those possibly suspended.

Mail Sport understands Burnley and especially Leeds – who were all been narrowly relegated in the last two seasons, with Everton escaping the drop – have pressured the Premier League to issue a strong punishment.

Everton have strongly insisted in the past that they are not guilty of the alleged financial breaches. 

The club, which is in mourning following the passing of chairman Bill Kenwright, did not comment on Wednesday, nor did the Premier League. 

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