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| Everton Sale Stalls Amid Questions About Buyer’s Financials | Everton Sale Stalls Amid Questions About Buyer’s Financials |
| (25 days later) | |
| The proposed sale of the Premier League soccer team Everton F.C. to a Miami-based holding company has stalled because the firm, 777 Partners, has failed to provide audited financial statements to a British government regulator that must approve the deal. | The proposed sale of the Premier League soccer team Everton F.C. to a Miami-based holding company has stalled because the firm, 777 Partners, has failed to provide audited financial statements to a British government regulator that must approve the deal. |
| The regulator, the Financial Conduct Authority, delivered its request to 777 Partners this month, according to multiple people with direct knowledge of the approval process, who spoke on the condition of anonymity because they were not authorized to discuss it publicly. If the company does not provide the requested financials or an acceptable explanation, its proposed takeover of Everton — a deal involving hundreds of millions of dollars in assumed debt and a coveted place in the world’s richest soccer league — could fall apart. | The regulator, the Financial Conduct Authority, delivered its request to 777 Partners this month, according to multiple people with direct knowledge of the approval process, who spoke on the condition of anonymity because they were not authorized to discuss it publicly. If the company does not provide the requested financials or an acceptable explanation, its proposed takeover of Everton — a deal involving hundreds of millions of dollars in assumed debt and a coveted place in the world’s richest soccer league — could fall apart. |
| The missing documents are the most significant complication to date in the effort by 777 Partners to add Everton to the collection of high-profile but financially troubled teams it has acquired over the past two years. | The missing documents are the most significant complication to date in the effort by 777 Partners to add Everton to the collection of high-profile but financially troubled teams it has acquired over the past two years. |
| A failure to close the deal could have severe consequences for the financial viability of Everton, a founding member of the Premier League saddled with the ongoing costs of a half-built new stadium, more than $500 million in debt and a projected annual loss of about $100 million. Everton’s finances are so dire that the club requires monthly infusions of millions of dollars, most recently a multimillion-dollar loan from 777 Partners, to keep operating. | A failure to close the deal could have severe consequences for the financial viability of Everton, a founding member of the Premier League saddled with the ongoing costs of a half-built new stadium, more than $500 million in debt and a projected annual loss of about $100 million. Everton’s finances are so dire that the club requires monthly infusions of millions of dollars, most recently a multimillion-dollar loan from 777 Partners, to keep operating. |