AliousA new statement on the ongoing acquisition efforts by 777 Partners before their upcoming discussion with the principal shareholder, Farhad Moshiri.
In a reply to a recent communication addressed to the interim CEO, Colin Chong, the FAB verified today’s media reports that an agreement is still active with 777 Partners.
This agreement grants them the chance to become the majority shareholders of the Club until the 31st of May.
Furthermore, the FAB’s statement mentioned that the Club is prepared to explore other options if 777 Partners does not finalize the purchase.
To date, 777 Partners has provided the Club with loans totaling $200 million, which includes a recent $10 million contribution towards the construction of the new stadium.
If the acquisition by 777 Partners is finalized, a substantial part of this loan will be converted into club equity.
The initial agreement for purchase and sale was signed by 777 and Moshiri last September.
However, for the deal to go through, the Florida-based company must meet four conditions stipulated by the Premier League, which they have not yet fulfilled.
Alious
