Farhad Moshiri has responded to the letter sent to him last week by Fan Advisory Board chair, Dave Kelly, acknowledging the frustrating delay in the Premier League’s approval process for 777 Partners’ takeover but insisting they remain the right buyers.
Kelly wrote to all three of Moshiri, 777 Partner and the Premier League and has, thus far, received replies from two of the parties, with the FAB’s letter to the League held up due to technical issues and a response expected soon.
777’s co-founder and Managing Partner, Josh Wander, sent a brief reply stressing that, “It is fair to say that when you spoke with Don [Dransfield] last year, none of us thought that this process would take over 6 months, as opposed to 12-14 weeks, as was our expectation.
“I look forward to answering your questions to the extent we are able, but I want to manage your expectations that we can’t do so prior to the transaction concluding, in line with the advice we have received with respect to the ongoing regulatory processes.”
The Club’s Majority Shareholder, meanwhile, wrote:
“With respect to 777, my view has not changed from what I said when we announced the proposed transaction last year. I remain confident they are the right partners to take our great Club forward, bringing all the benefits of being an experienced and well-connected investor, and their multi-club investment model.
“Securing the complete financing of the new stadium remains a priority and I can assure you from personal experience that 777 have met every ask that we have made of them to date.
“Now I completely understand the frustration that the Premier League approval process has taken longer than was originally expected. It is not ideal, but we must respect the Premier League’s process and hope that it is something that we must live with for only a little longer.
“We fully respect all our regulatory bodies, work closely and constructively with them, and please bear with us whilst we are in the home straight.
“I can also assure you that as soon as there is something definitive to say that we will share with you immediately.”