The £550m takeover of Everton by 777 partners is in doubt, as US Department of Justice is investigating money laundering allegations against the company. Outcome of the reported investigation could lead to the Premier League blocking the deal under new rules introduced in March. The investigation is a huge development as the Premier League now has the authority to prevent potential club owners under investigation for conduct constituting a ‘Disqualifying Event’ from completing a takeover. Such events include violence, corruption, fraud, and tax evasion. 
Everton acquisition by 777 Partners in doubt – Getty image Recall that Everton’s majority shareholder, Farhad Moshiri, agreed in September to sell his 94% stake to 777 Partners. The initial 12-week timeline for completing the sale has lapsed, but Everton was optimistic about finalizing the deal by Christmas before news of the US investigation emerged. The Premier League is currently subjecting 777 Partners co-owners, Josh Wander and Steven Pasko, to the Owners and Directors’ Test. Meanwhile, Everton are already dealing with the repercussions of a ten-point deduction for a single breach of Premier League financial rules, placing them in the relegation zone. Despite this setback, Everton secured their first victory since the points penalty with a 1-0 win against Nottingham Forest on Sunday.
Manchester United target, Declan Rice. Source: Getty “Ten Haga’s expenses are limited while the Glazers decide whether to sell or stay put, especially since United has not yet got rid of the expensive deadwood in their team.” United have several other targets in their mind and could also allegedly be looking for a new goalkeeper, with several reports suggesting that David De Gea will leave the club. Jordan Pickford is one name mentioned while Manchester United are also on the hunt for a striker. Rasmus Hojlund and Victor Osimhen are the names remaining on the club’s wish list for a striker as Harry Kane has been struck off. Sheikh Jassim bin Hamad Al Thani and Sir Jim Ratcliffe have been the two prominent bidders to complete a takeover at Old Trafford. But despite reports suggesting Sheikh Jassim is edging closer to winning the battle, there’s been radio silence on the subject. The Times reported that it is unlikely that the takeover will be completed before the start of the new 2023-24 season. 
While it was suggested at the time that he was joking, the 51-year-old South Africa-born business magnate later added: “Although, if it were any team, it would be Man U. They were my fav team as a kid.” It is expected that a bid of up to £4.5bn could be enough to get a takeover over the line even though United’s American owners reportedly wanted between £6bn and £8bn to sell up. The report notes that dozens of interested parties have already expressed their interest and signed the necessary paperwork to be granted access to confidential data about the club. United’s next owners will likely need to have money in reserve – up to £2bn, according to some estimates – to commit to redeveloping Old Trafford. This should be no issue for Musk, even though Tesla’s plummeting stock price led to his net worth being slashed by £150bn since November. Should United fetch a sum of £4.5bn as expected, they would become the most expensive sports team in the world, surpassing NFL side the Denver Broncos, who were bought for £3.7bn last year.