Everton fans to meet with Farhad Moshiri amid takeover speculation
The club's given Everton Fan Advisory Board an update
Last updated 15th May 2024
Everton owner Farhad Moshiri is set to meet fans next week, after speculation around the ongoing takeover and reports the club could fall into administration.
Everton Fan Advisory Board (FAB) says it wrote to CEO, Colin Chong, requesting an urgent meeting and further clarification on the issues. It has now received a response, confirming that Mr Moshiri will meet the FAB next week.
The letter also gave an update on the situation with the takeover, which the FAB has shared the contents of.
It says a share purchase agreement is currently in place, which gives 777 Partners the opportunity to acquire a majority shareholding in the Club and this lasts until 31 May. The Club has confirmed, however, that plans are also in place to progress alternative scenarios, should the acquisition by 777 Partners not complete.
777 Partners has so far made loans to the Club of $200m, which includes a $10m payment, to support the new stadium build, which was received this week. Should the 777 acquisition complete, a significant portion of the loan will be converted into equity in the Club.
In the letter, the FAB says Mr Chong also took the opportunity to thank supporters for their patience and support over recent months and has committed to providing further updates, both through its official communications channels and through structured dialogue with the FAB.
The FAB says it's position on what it thinks needs to happen to find the right owners for the club hasn't changed since a statement that was released last week: