Blinksportsnews247Keith Wyness, the former executive chairman of Everton, has requested the Premier League to allocate more funds while making a decision about the club’s planned takeover by 777 Partners.
The 66-year-old, who ran a football consultancy advising elite teams after serving as CEO of Goodison Park from 2004 to 2009, asked whether the league is doing enough to reach a decision about the US-based investors on the latest episode of Football Insider’s Inside Track podcast.
In September, 777 Partners and Everton chairman Farhad Moshiri reached a £500 million buyout agreement; however, the Premier League has not yet given their approval.
A number of questions have been raised concerning the group’s financial sources and their interactions with other teams, notably Standard Liege of Belgium.
Wyness blasts the Premier League for holding up the Everton takeover.
Everton has reportedly received a total loan from 777 of about £190 million to assist with stadium building and operating expenses.
“We had more unfavorable news about 777 Partners this week – about their reinsurance company and credit ratings,” Wyness stated on Football Insider’s Insider Track program.
“I’m not sure if that’s been useful, and I’m not sure how the Premier League feels about that.
But once more, our timing is a problem.
“It took 51 days to approve the Ratcliffe takeover at Man United, and I think it will take about 180 days to approve the 777 deal.”
“I know there is due process, but is the Premier League using the right resources to handle things quickly enough?
For me, it doesn’t appear to be the case.
“The Premier League has ample financial resources to secure the resources required to reach a resolution. Considering the effect it is currently having on the competition, I don’t see why it hasn’t been completed more quickly.
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