According to the Mail, 777 Partners has been notified that they may be sued if Everton is found guilty at the hearing.
Josh Wander, co-founder of 777 Partners.
Everton’s future owners, 777 Partners, have received no correspondence over three clubs’ intention to sue if the Toffees face sanctions at a key meeting this month.
Everton will appear before an independent commission on October 25 after being sued by the Premier League earlier this year over allegations of breaching the league’s profit and sustainability rules, something the club has repeatedly denied.
The hearing will determine what, if any, punishment should be given to Everton if it is decided that it broke Premier League rules.
According to a report from the Daily Mail, Burnley, Leeds United and Leicester City, three clubs relegated from the Premier League in the last two years, have informed 777 Partners, the Miami-based investment firm that has agreed to sign the club’s current owner Everton Farhad Moshiri take.
The club held a 94.1% stake in the club as of last month and is currently going through the process of seeking regulatory approval to ratify the deal and would seek financial compensation from the new owners if Everton were found at fault.
The Mail’s report claims that a letter had initially been sent to the Premier League and that the intentions of the three clubs, who were reportedly seeking £100 million each in compensation for the loss of Premier League revenue, would be forwarded to 777 Partners , a move this was positioned as a threat to any future acquisition deal.
Sources have told the ECHO that at this stage 777 Partners has not received any correspondence from the three clubs involved.
It is also likely that there will be compensation on the seller’s side to cover any significant financial penalties that could arise if the club was found to be in breach of profit and sustainability regulations, meaning this would likely represent a burden financial for Moshiri.
777’s partners reportedly remain “confident” in their ability to overcome the hurdles required to gain regulatory approval from the Premier League, Football Association and Financial Conduct Authority for the takeover.
The process, described as “well underway”, could take up to 10 weeks from the current date.
JoshWander and Steven Pasko, co-founders of 777 Partners, were at Goodison Park on Saturday to watch Everton suffer a 2-1 home defeat to Luton Town.
