777 Partners are preparing to re-enter negotiations with Everton over the price of the club’s takeover, Football Insider has been told.
The US-based investment firm are looking to lower the takeover fee with Everton now facing a huge legal battle following their 10-point deduction.
An independent commission ruled that the Toffees were guilty of breaching the Premier League’s financial and sustainability regulations, resulting in the club’s punishment last week.
But on top of Everton’s sporting penalty, the Merseyside club are now facing a £300million legal battle against Leeds United, Burnley and Leicester City.
The three clubs – all of which were relegated during the period of Everton’s investigation – are demanding £100million in compensation.
As reported by the Daily Mail, senior figures from all three clubs have held talks to reaffirm their plan to sue Everton, with legal planning already underway.
The legal battle is set to add to Everton’s financial crisis, with the club already £1billion in debt.
With 777 Partners now facing additional legal fees and a potential £300million payout, they are preparing to reopen talks with Farhad Moshiri over the takeover price.
They reportedly agreed to a deal worth more than £500million to buy Moshiri’s 94.1 percent stake in the club back in September, but could now demand a huge discount following the club’s guilty FFP verdict.
777 have already provided a £40million loan to Everton to help the club with operating costs while the takeover is in the process of being assessed.
In other news, Everton pull plug on key contract talks after points deduction
