The Premier League seems to be leaning towards approving the takeover of Everton by the US-based 777 Partners, according to reports. However, this approval might come with certain conditions related to funding.

Reports suggest that Everton’s long-awaited takeover is progressing. The Premier League has indicated its conditional approval of a bid from the US fund 777 Partners, which has been under review for nearly six months. 777 Partners, based in Miami and owner of several clubs including Hertha Berlin and Standard Liege, agreed last September to buy a 94.1% stake in Everton from Farhad Moshiri.

However, the takeover has been delayed due to ongoing background checks. There are concerns that 777 may not be able to provide enough new capital. Employees, including players, from other clubs owned by the group have reported financial problems, including unpaid wages.

Since the agreement with Moshiri, 777 has invested over £150m into the club. Meanwhile, Sean Dyche’s team is currently four points above the relegation zone, with a game in hand over Nottingham Forest, who are in 18th place. Nottingham Forest recently received a four-point deduction for violating the PSR regulations and expressed their disappointment with the decision, despite having cooperated with the Premier League from the beginning.

READ ALSO: Man City ‘consider triggering’ £100m release clause of PSG and Real Madrid transfer target

This news coincides with the introduction of the football governance bill in parliament. Once the legislation is passed, an independent football regulator will be established with a mandate to enforce stricter financial monitoring of clubs.

The prospect of tighter regulation has been met with resistance from Premier League clubs, but has been largely welcomed by EFL sides, who are calling for better financial distribution throughout the league.