Everton shareholders demand end to ‘farce’ of 777 takeover
Miami-based company accused of fraud amounting to £279m‘We demand a decision now,’ Premier League is told
Everton shareholders have urged the club’s owner, Farhad Moshiri, and the Premier League to end the “farce” of a proposed takeover by 777 Partners after the troubled company was accused of fraud worth hundreds of millions of dollars.
The investment company 777, co-founded by Josh Wander and Steven Pasko, agreed a deal to buy Moshiri’s 94.1% stake in Everton eight months ago but has been unable to meet the Premier League’s criteria for allowing the takeover to proceed. These include the repayment last month of a £158m loan to MSP Sports Capital and two local businessmen, Andy Bell and George Downing, with 777 having been granted a short-term extension to repay the loan. The Miami-based company was also reportedly late last week with a £15m loan to Everton for working capital. It has loaned the financially troubled club more than £200m.
