Premier League won't get involved in Everton take-over says Chief Exec
Richard Masters has been grilled by MPs this afternoon
Last updated 14th May 2024
Chief executive Richard Masters said the Premier League would not get involved in deciding who the next owner of Everton would be as its job was just to "perform the test" on set criteria for suitability.
However, he told MPs to "make their own conclusions" as to why 777 Partners' bid to take over from current owner Farhad Moshiri was in its eighth month.
Anyone wanting to buy a club has to submit themselves to the owners and directors' test, which outlines requirements which would be prohibitive, including criminal convictions, a ban by a sporting or professional body, or breaches of certain key football regulations, such as match-fixing.
Moshiri agreed a deal back in September to sell his 94 percent stake to 777 but it emerged last week that is on the verge of collapse over continuing doubts concerning the Miami-based private investment company after a number of adverse news stories about some of the other businesses they own.
One of the requirements of the owners and directors' test is to submit to the Premier League board up-to-date future financial information which take into account "the consequences of the acquisition of control on the club's future financial position".
"The Premier League has made very clear the conditions that have to be met by 777 if it wishes to become the owner of Everton," Masters told a select committee on Parliament's Football Governance Bill.
"At the moment, because the takeover hasn't been confirmed, I will leave it to the committee to make its own conclusions for where we are with that.
"The Premier League's role in this, as regulator, is to perform the test. It is not to decide who the current owner wants to sell his club to. That is his decision.
"At the moment, he wants to continue to have discussions with 777 about it."
Last week, Everton's Shareholders Association labelled the process "a farce" and the club's Fan Advisory Board called for the Premier League to "live up to its responsibilities".
"I do accept takeovers that carry on for a very long time are not good for fan certainty and that is why we have a very big team of people who do nothing else than this," added Masters.
"All I would say is that, over time, particularly in the Premier League, takeovers are becoming increasingly complex...we want to make sure all decisions are correct, even if that means taking a little bit more time to make sure that decision is correct."