Former Everton CEO Keith Wyness has shed light on the potential for two US-based groups to swiftly acquire the club, emphasizing their ability to finalize a deal “very quickly.”
Wyness, who helmed operations at Goodison Park from 2004 to 2009 and now provides consultancy services to elite clubs, expressed concerns over the prolonged 777 Partners takeover process and its implications for Everton’s transfer activities.
The proposed £500 million takeover by 777 Partners, announced in September with chairman Farhad Moshiri, has encountered delays due to scrutiny over the group’s funding sources.
To secure Premier League approval, the Miami-based consortium must convert over £300 million of loans into equity, provide evidence of funding for the stadium project, and allocate funds for the club’s operating expenses for the current season.
With 777 Partners already extending loans to Everton for operational purposes, the total debt owed to the consortium is set to exceed £200 million. Amidst these complications, Wyness highlighted the potential for alternative suitors to expedite the acquisition process if they demonstrate robust financial credentials.
He told Football Insider‘s Insider Track podcast: “This is the prime time now to complete a takeover.
“You’re trying to get yourself in place and approved before the start of the transfer window.
“That’s normally what you try and do. At Villa, the new owners were approved with four weeks left of the window – and it does hamper you.
“Now is a crucial time.
“The rumours are still very strong about two more potential buyers from the US. If they are credible, with strong financial credentials – it could be a very quick process.”
Wyness stressed the importance of completing a takeover ahead of the transfer window to facilitate seamless planning and execution of recruitment strategies.
Drawing from his experience at Aston Villa, where new ownership was ratified just four weeks before the close of the transfer window, Wyness underscored the timing’s impact on club operations.
As rumors swirl regarding the interest of two additional US-based entities in acquiring Everton, Wyness emphasized the significance of their credibility and financial stability.
Should these prospective buyers meet the criteria, Wyness anticipates a swift and efficient takeover process, positioning Everton for a new chapter under fresh ownership.