Proposed new Everton owners 777 Partners have moved a step closer to a takeover of the club after receiving a letter from the Premier League in which it said it is “minded to approve” the takeover.

The group, who agreed a deal with majority shareholder Farhad Moshiri last September and have been waiting for the go-ahead since then, now need to meet a number of conditions before full approval can be granted.

The process also needs to go through an independent oversight committee before final approval by the Premier League board.

777 have been supporting the club with funds for working capital and stadium costs and that figure is expected to reach £200m by April.

The multi-club investors have been in discussions with Everton majority shareholder Moshiri since the news that New York group MSP Sports Capital had ended its exclusivity agreement with Moshiri, who owns 94.1 per cent of the club’s shares.

The 777 group already have a number of football clubs in their portfolio, including Sevilla, Genoa, Hertha Berlin and Standard Liege, with the fans of the Belgian side holding a demonstration criticising the owners’ involvement at their last game.

The transaction was set to be closed in the fourth quarter of 2023, but remained subject to approval from the Premier League, FA and the Financial Conduct Authority.

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