According to the New York Times, Genoa owners 777 Partners have ‘failed to provide audited financial statements’ to British regulators, so as things stand will not be able to buy Premier League club Everton.
The American investment group purchased Serie A side Genoa from Enrico Preziosi in September 2021.
Genoa are just one of several football clubs in their portfolio, including Hertha Berlin in Germany and Brazil’s Vasco da Gama.
An attempt to purchase Everton was announced last month, but there has been very little progress.
Now the New York Times claims this is because the Financial Conduct Authority requested audited financial statements, which have not been provided by 777 Partners.
Unlike in Serie A, the Premier League and Football Association will only give the all-clear to owners considered a ‘fit and proper’ steward of the club.
The Miami-based company 777 Partners was founded in 2015 and according to the NYT “has repeatedly been accused of missing routine payments to businesses, vendors and partners.”
The report also states that the main funding behind their football investments is a company called A-Cap, which funded most of the $25m loan given to Everton.
A-Cap allegedly now has loans totalling at least $1 billion to 777 Partners.