777 Partners will have to prove to the Premier League they have the funds to provide 'financial security' in the long run, an expert tells i
Stephen Taylor Heath of JMW Solicitors, who has in-depth experience of the test, told: “If the people involved in the business have successfully acquired football clubs before then you would think that they are likely to be regarded as fit and proper people in terms of passing the test.
“The one thing the Premier League look at is what is the ultimate source of the funding. They don’t take at face value who is put forward as the people who are funding the deal.“They want to see where the money is coming from to protect against obvious money laundering issues but also in case people putting up the money have interests in competing clubs.”
He said the Premier League’s team of investigators would most likely concentrate on future financial funding of the club. “If there are issues in terms of the funding of other clubs [in the group] then again they might not take the projections provided at face value and will be asking questions on top of that,” he said.
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