According to persons familiar with the situation, the New York Times reported on Wednesday that the sale of ailing Premier League team Everton to 777 Partners has reached a standstill because the American investment group has not yet given audited financial documents to a British regulator.
Britain’s Financial Conduct Authority (FCA) submitted its request to 777 Partners this month, and according to the New York Times, the takeover might fail if the business doesn’t give the necessary financial information or an acceptable justification.
However, a source knowledgeable of the situation told Reuters that the sale is still moving along and has not paused.
Everton was sold to 777 Partners for over 550 million pounds ($669.79 million) last month. Everton’s most recent data revealed a fifth consecutive year of losses for the 2021–22 season, totaling 44.7 million pounds, for a loss of more than 430 million overall.
The FCA or 777 Partners did not immediately answer requests for comment from Reuters.
The company 777 Partners owns shares in Sevilla of La Liga and Melbourne Victory of the Australian A-League, among other teams, including Genoa of Italy and Standard Liege of Belgium.
