US investment firm 777 outlines Everton takeover stance amid threat of points deduction
Everton’s takeover by the American investment firm 777 Partners remains on course, despite the possibility of a points deduction that could put the Merseyside club at greater threat of relegation. The Premier League are reportedly pushing for Everton to be deducted 12 points during an investigation into possible breaches of financial regulations but 777 are adamant they still want to proceed with plans to complete a buyout. Everton majority shareholder Farhad Moshiri has signed a deal with 777 Partners, who have invested in a range of clubs including Genoa, Sevilla and Hertha Berlin. Everton were accused of breaking Financial Fair Play rules, which are supposed to limit clubs to a total loss of £105m over a three-year period. But Everton announced losses £44.7m in 2022, £121.3m in 2021, £139.9m in 2020, £111.8m in 2019 and £13.1m in 2018. The Premier League charged them in March though Everton have insisted they have complied with the regulations and their additional losses stem involve allowances clubs were permitted when Covid meant grounds were empty. Everton disclosed all scenarios with 777 during talks and financial due diligence and the potential outcome was priced in to the structure of the deal. A 12-point deduction would leave Everton, who only just avoided relegation in the last two seasons, on minus five. Other potential punishments, if Everton are found guilty, could include a transfer ban or a fine, which West Ham were given for the third-party ownership of Carlos Tevez and Javier Mascherano in 2007. Read More Everton face ‘12-point deduction’ over alleged financial breaches Everton boss Sean Dyche pays tribute to ‘amazing servant’ Bill Kenwright Bill Kenwright: Theatre producer who went from terraces to boardroom at Everton
2023-10-26 22:55
Drake is yet another artist targeted by a flying object on stage during a concert
Drake once sang, "Call me on my cellphone," but never once did he say to fling one at him while he's on stage performing.
2023-07-07 07:57
Palestinian medics in Gaza struggle to save lives under Israeli siege and bombardment
Gaza's health ministry says that an estimated 1,200 people are still trapped under the rubble of destroyed buildings awaiting rescue, or recovery
2023-10-17 16:58
Taylor Swift gushes it was 'unreal' to win 10 prizes at 2023 Billboard Music Awards
Taylor Swift broke records and scooped 10 prizes at this year's ceremony and admitted it felt "unreal".
2023-11-20 16:30
Reuters NEXT-UN chief says Gaza deaths show something 'wrong' with Israel operation
By Alessandra Galloni NEW YORK United Nations Secretary-General Antonio Guterres said on Wednesday that the number of civilians
2023-11-08 23:55
Marketmind: Teed up for a bullish start to the week
By Jamie McGeever A look at the day ahead in Asian markets from Jamie McGeever. Asian markets are
2023-06-05 05:47
Thailand's Pajaree to face Japan's Furue in LPGA Match-Play final
Thailand's Pajaree Anannarukarn and Japan's Ayaka Furue advanced to the LPGA Match-Play championship final with morning...
2023-05-29 04:22
Chinese Semiconductor Maker Hua Hong Jumps in Shanghai Debut
Shares of China’s Hua Hong Semiconductor Ltd. jumped in its trading debut in Shanghai after it raised 21.2
2023-08-07 10:53
Americans from coast to coast flock to Women's World Cup, including one very dedicated superfan
American soccer fans have flocked to Australia and New Zealand to cheer on the US National Women's Team (USNWT) as they attempt a historic "threepeat", but not many can say they have been in the crowds as often as Jessica Malone.
2023-07-22 07:23
Alibaba Starts Its Cloud Arm Overhaul After Nixing Spinoff
Alibaba Group Holding Ltd. is taking the first steps toward revamping its cloud business by overhauling its leadership,
2023-11-24 21:26
Smoke hangs over U.S. Midwest, East, hurting air quality
By Brendan O'Brien CHICAGO (Reuters) -Hazy, smoke-filled skies from raging Canadian wildfires hovered Wednesday over the U.S. Midwest and East,
2023-06-29 03:18
Yevgeny Prigozhin: Was the Wagner chief a dead man walking?
Ever since he led a mutinous march on Moscow in late June, some speculated Yevgeny Prigozhin's days were numbered.
2023-08-24 07:53
You Might Like...
Stock market today: Asian shares mostly rise after House approves debt ceiling deal
Who was Paul Rodriquez Jr? Alaskan man, 43, accidentally films own death on GoPro during kayaking accident
Joe Rogan's views about 'Avengers: Endgame's Hulk echoed by Louis Leterrier, says it's a 'little bit kiddish'
NATO will hold a major nuclear exercise next week as Russia plans to pull out of a test ban treaty
50 Cent smacks concertgoer on head as he hurls microphone into crowd just weeks after Cardi B's onstage incident
US consumer price growth slowed last month as inflation shows signs of steady decline
Alicia Keys deletes and clarifies paragliding post that sparked criticism
High-Risk Loans Return as Recession Risk Fades
