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(Reuters) – The sale of struggling Premier League club Everton to 777 Partners has stalled as the U.S. investment fund has yet to provide audited financial statements to a British regulator, the New York Times said on Wednesday, citing people familiar with the matter.
Britain’s Financial Conduct Authority (FCA) delivered its request to 777 Partners this month, and if the company doesn’t provide the required financials or an acceptable explanation, the takeover could fall apart, the NYT said.
A source familiar with the matter, however, told Reuters that the deal is ongoing and has not stalled.
Last month, Everton was sold to 777 Partners in a deal reported to be worth more than 550 million pounds ($669.79 million.
Everton’s most recent figures showed a fifth straight year of losses – 44.7 million pounds for the 2021-22 season – with their total loss over that period amounting to more than 430 million pounds.
The FCA and 777 Partners did not immediately respond to Reuters requests for comment.
The firm 777 Partners has a number of clubs in its portfolio, including Italian side Genoa and Belgian team Standard Liege, while they also have stakes in LaLiga club Sevilla and Australian A-League side Melbourne Victory.
($1 = 0.8214 pounds)
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