Takeover

[Pragmatist]

For fans like me that didn't realise how complex these transactions can be, here's a snippet from the Athletic on what's happening at Everton whose sale was agreed on September 15th. 

"When Farhad Moshiri announced he had agreed to sell his 94.1 per cent stake in Everton to 777 Partners on September 15, it was hoped the deal would be wrapped up by Christmas, with the Florida-based investment firm properly in charge in time for the winter transfer window.

The club’s official statement said the “closing of the transaction is expected in the fourth quarter of 2023” and the briefing was that regulatory approval from the Financial Conduct Authority, English Football Association (FA) and Premier League would take “10 to 12 weeks”.

So, what are we to make of the news that kicked off week 17 of this process when it was revealed on Monday that 777 has loaned the club another £40million ($51m), taking Everton’s total IOU to its prospective new custodians to £142m?"

There are serious questions about 777 as “fit and proper”.  That’s the cause of the delay on that deal.