The Premier League reiterates its “very clear” position on the acquisition of Everton by 777 Partners | Everton

Richard Masters says that first division has been “very clear” with 777 Partners about the conditions it must meet to complete the Everton takeover, and that observers can draw their “own conclusions” about why the deal has not yet been approved.

Speaking to MPs as part of the government's Football Governance Bill process, the Premier League chief executive acknowledged that protracted takeover deals create tension among supporters, but said: Everton The owner, Farhad Moshiri, still wanted to reach an agreement with the investment company in question.

When asked by Damian Collins why the league had not rejected 777's offer outright, amid uncertainty over the group's finances and problems at its other clubs, Masters said its scope was limited. He said the league could approve a deal or leave it unapproved, but it could not reject it and that it was up to the proposed seller or buyer to take a deal off the table or comply with the league's demands.

“Let me be clear about the Premier League's role as a regulator: it is to carry out this test,” he said. “It is not about deciding who the current owner wants to sell the club to. That is his decision and for the moment he wants to continue having conversations with 777 about it.

“The Premier League is very clear about the conditions it must meet if it wants to become the owner of Everton. At the moment, as the acquisition has not been confirmed, I will let the committee (of MPs) draw their own conclusions about where we are with that.”

The Premier League owners and directors test is a hurdle that potential investors must clear before being approved by the league. It includes a series of demands, many of them related to the submission of “procurement materials”, a list that includes “detailed information regarding…the sources of funds to be invested or made available to the club.” It was reported that 777 needed to raise funds to complete the deal and this month it was revealed that the company has been charged with multi-million dollar fraud in the United States. 777 has not commented publicly on the case.

Masters said takeover deals were becoming “more complex” and were an example of why football authorities should continue to play a role in approving any deal, and outlined a process he compared to that of The X Factor.

“I accept that acquisitions that go on for a long time are not good for the certainty of fans,” he said, “and that is why we have a very large team of people who do nothing more than this. All I would say is that over time, particularly in the Premier League, takeovers are becoming more complex and it is no small task for the regulator to take on this particular burden. That's why we also want to stay involved in it. It's very complicated and we have to make sure all those things are correct, even if it takes more time.

“I think there are some benefits to the regulator working with the football authorities on this issue. “It’s a bit like The X Factor and you need two green ticks to get it.”

Masters spoke alongside EFL president Rick Parry as the pair continued their public discussion of the independent regulator's report. Of particular concern to both men are parachute payments and whether they should fall within the regulator's purview. Masters believes they should not, arguing that “they are a competitive balancing tool… and without parachute payments the Premier League would not be competitive at the bottom end.”

Parry disagreed, describing the current exclusion of parachute payments from the regulator's mandate to ensure financial stability as “intellectually incoherent”.

“It is interesting that solidarity payments to Championship clubs are literally linked to parachute payments,” he said. “Defined as 11% of parachute payments, they are intertwined.

“In 2021, five Championship clubs received £233m between them (in parachute payments) and 19 received £79m in solidarity. So what we are saying is that we can apply the (regulator) and all its power to the £79 million, but we cannot touch the £233 million. That seems to be the definitive definition of fiddling while Rome burns.”