Date : 18th October
The American investment group 777 Partners’ attempt to purchase struggling Premier League team Everton has been halted because it has not yet provided audited financial documentation to a British regulator.
The Financial Conduct Authority (FCA) of Britain issued 777 Partners a request this month; the New York Times reported that the merger could fall through if the company is unable to provide the required financials or a strong enough explanation.
Everton was sold to 777 Partners last month in an arrangement supposedly valued at approximately 550 million pounds ($669.79 million).
Recent financial data of Everton’s Sales indicated that they had lost 44.7 million pounds for the 2021–22 season, or more than 430 million pounds, for the fifth consecutive year.