Farhad Moshiri 'agrees to extend talks with crisis-stricken 777 Partners to rescue a deal to take over Everton'... despite American fund calling in financial restructuring experts

Everton's majority owner Farhad Moshiri has reportedly agreed to extend talks with 777 Partners, in hope that a takeover deal can be reached. 

According to The Telegraph, Moshiri has granted the crisis-stricken American investment fund until the end of May to reach an agreement over the purchase of Everton football club. 

The outlet claims that after 'days of face-to-face talks', Mr Moshiri has 'agreed to extend his sale and purchase agreement of Everton Football club' despite the terms of that initial deal 'expiring last week'.    

777 Partners have loaned the Merseyside outfit over £200million to help with the club's operational funding of late - with concerns being raised that Everton could face administration if they do not find a new investor.

However, the firm's suitability to purchase Everton has been thrown into some doubt, after the organisation, which has been fronted in their bidding process by the fund's co-founder, Josh Wander, reportedly called in financial experts to help restructure the club. 

BBC Sport claims that the Miami-based firm have, in the past five days, appointed a restructuring firm, B Riley Financial, to help them overcome 'various operational challenges'. 

It comes after an Everton supporters group urged Mr Moshiri to seek new investors, after a series of concerning reports have emerged relating to 777's business activities.   

Last week, 777 were accused of fraud in a New York civil court claim. The suit accused Wander and co-founder Steve Pasko were 'operating a giant shell game at best, and an outright Ponzi scheme at worst’. 

The fund also recently saw their Australian airline, Bonza, go into administration, while their football club, Standard Liege, are also under a transfer embargo, because of failures to meet payments for two players.

Standard's players have also not been paid since April with the outlet suggesting that there are concerns that their players will not be payed until the end of the season. 

The Everton Fan Advisory Board said: ‘This ongoing confusion and lack of transparency cannot continue. Each party must recognise the role it is playing in sullying the reputation of one of the most storied clubs in English football history. 

‘Appreciate that all the rumour and speculation is causing extremely high levels of anxiety and concern to the club’s greatest assets: their fans.’ It added: ‘Moshiri - now is the time for other bidders to be offered the opportunity to acquire the club.’ 

More to follow...