The Everton FC Shareholders Association have issued a strongly-worded statement criticising 777 Partners as being unfit to become owners of the Club and condemning both Farhad Moshiri and the Premier League for the “never-ending” takeover saga.
It’s almost eight months since Moshiri agreed to sell his 94.1% stake to 777 but they have thus far failed to meet the set of conditions set out by the League before their approval can be granted.
In the meantime, the Miami-based private investment firm has loaned Everton a reported £200m, funds they intend to convert to equity once the buy-out is complete, while also being the subject of a succession of lawsuits, financial set-backs and negative headlines.
That, combined with the length of time the Club has been left in limbo by the lack of progress over the change of ownership, has prompted the EFCSA to issue the following statement:
“We are the oldest Shareholders’ Association in the world and are dismayed by the lack of respect being shown to our football club by the largest shareholder Farhad Moshiri, and the Premier League during what seems a never-ending change of ownership process.
“We have observed with concern and frustration as it became increasingly clear that a fit-for-purpose process cannot possibly take this long as the Premier League continues to demonstrate their inability to regulate.
“In the absence of the Premier League making a timely decision we insist that the Everton Board, and Farhad Moshiri in particular, stop this damaging process now and recognise that 777 Partners are not at this time fit-and-proper prospective owners of Everton Football Club.
“The powers-that-be are being disrespectful to our fellow shareholders, our fantastic worldwide fanbase and football as a whole by continuing to allow this farce to continue.
“We demand a decision, and we demand it now.”