The Everton takeover approval by the Financial Conduct Authority means that the Premier League assessment is the ‘final step’ before completion.
That is the view of finance expert Kieran Maguire, who exclusively told Football Insider that the Premier League will still take a ‘forensic and thorough’ approach before making their decision regarding the 777 Partners takeover.
The US group struck a deal with owner Farhad Moshiri in September to buy his 94 percent stake in the Toffees, but the agreement is still under assessment by the Premier League three months later.
As reported by the Daily Mail, the takeover process has edged a step closer to completion this month after 777 Partners received clearance from the Financial Conduct Authority.
The prospective new Everton owners must now await for approval from the Premier League and FA as the final hurdle of their takeover.
Maguire insists there are still concerns about 777 Partners due to their ‘precarious’ ownership model and existing funding.
“Yes, FCA approval is unusual in respect of football takeovers but it reflects the extent of the debt that Everton presently have,” Maguire told Football Insider’s Sean Fisher.
“That could potentially grow again should the 777 Partners takeover go through.
“With FCA approval out of the way, all focus is now on the Premier League which is the final step.
“The Premier League are also aware that they are being scrutinised by both Everton fans and the government in terms of the potential implications for the regulator on this.
“So they will be taking a very forensic and thorough approach because the last thing they want to happen is to sign off on the deal with owners who turn out to be not what they claim they are.
“And I think that is a fear of many observers as the 777 model does seem to be quite precarious.
“Based on their existing funding and the mixed news coming out of some of the other clubs in their multi-ownership model you can see why.“
In other news, Big update on Everton signing Jack Harrison permanently from Leeds United
