Farhad Moshiri agrees new extension as 777 Partners Everton takeover deadline set to pass
Farhad Moshiri has agreed an extension to the repayment deadline of a £158million loan from MSP Sports Capital, according to iNews.
Writing on their website (31 May), the news outlet report that the Iranian businessman has struck an agreement with Andy Bell and George Downing this week as the deadline for 777 Partners to complete their takeover looks set to pass.
Repaying that loan was one of the conditions put on 777 Partners by the Premier League but they were unable to, and with Moshiri now set to take back running of the club as he searches for a buyer he is now said to be “getting his ducks in a row”.
Farhad Moshiri must get things right until he finds a buyer for Everton
Over the last few months, Moshiri has essentially walked away from Goodison Park and not been interested in funding the club or helping the situation at hand with the takeover.
He has just been keen to bring in as much money as he could for himself, and now that 777 Partners have officially failed to get a deal done to complete the takeover he knows he has to come back.
But that means getting everything back on track so he can actually follow through with his responsibilities, and agreeing an extension to pay back the loan makes total sense.
There are interested parties to come in and take over the deal that 777 have failed with, with John Textor among them after making his plans public [The Athletic, 24 May], so hopefully this won’t drag on too much.
However, Everton need to be able to know their plans for the summer and the ownership situation dragging on only adds to the uncertainty for everyone involved with the club.
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