According to a story in the Mail, 777 Partners has been warned that they may face legal action if Everton is found guilty at the trial.
The prospective owners of Everton, 777 Partners, have not received correspondence relating to the intention of three clubs to sue should the Toffees be hit with sanctions at a key meeting this month.
Everton will appear before an independent commission on October 25 after being charged by the Premier League earlier this year over allegations of breaching the League’s profit and sustainability regulations, something which the club has repeatedly denied.
The hearing will determine what, if any, punishment should be handed down to Everton should it be decided that they broke the Premier League’s rules.
Burnley, Leeds United, and Leicester City, three clubs that were demoted from the Premier League in the last two years, have reportedly informed 777 Partners, the Miami-based investment company that agreed to buy current Everton owner Farhad Moshiri’s 94.1% stake in the club last month and is currently seeking regulatory approval for the deal to be ratified, that they would seek monetary compensation from the league.
According to a Mail report, a letter was initially sent to the Premier League, and the three clubs’ intentions—each reportedly seeking £100 million in compensation for a loss of Premier League revenue—were then communicated to 777 Partners, posing a threat to any takeover deal that might have been in the works.
According to sources, 777 Partners has not yet received any correspondence from the three clubs in question. Moshiri would probably be responsible for paying any major financial penalties that might be assessed if the club were found to be in violation of profit and sustainability standards due to the likelihood that an indemnity would exist on the selling side to cover them.
According to reports, 777 Partners are still ‘confident’ that they will overcome the obstacles in their way to win the approval of the Premier League, Football Association, and Financial Conduct Authority for the takeover. The ‘well underway’ procedure could take up to 10 weeks to finish as of right now.
The co-founders of 777 Partners, Josh Wander and Steven Pasko, were present at Goodison Park on Saturday to watch Everton lose 2-1 to Luton Town at home.
