A critical next step has been performed by 777 Partners.

Journalist Mark Douglas says 777 Partners has completed a “crucial next step” in its takeover of Everton.

In order to purchase Farhad Moshiri’s whole 94.1% ownership in the team, the American investment fund and the player inked a deal in September. However, before the sale can be finalized, a number of conditions must be met.

Douglas stated that 777 Partners hopes to close a deal by the end of the year while giving iNews an update on the behind-the-scenes situation at Goodison Park on Thursday, November 9.

“With sources telling me that 777 Partners remain hopeful of completing their buy out within their initial 12-week timeline, Everton’s recent resurgence under [Sean] Dyche is a timely reminder of his managerial heft,” Douglas wrote in a piece titled “Everton’s takeover takes crucial next step in latest sign club’s fortunes are changing.” Last week, their prospective buy-out passed the first – albeit most straightforward – of the three tests it needs to satisfy if it is to be ratified in time for the new year.

The Football Association approved the appointment of 777 co-founders Josh Wander and Steven Pasko as directors of the team, provided the Premier League approved their takeover. This approval came after weeks of thorough suitability investigations.

Although sources continue to think it will be “a few weeks” until they find out the commission’s decision, it is known that 777 Partners has included every possibility in its due diligence. The amount they pay Farhad Moshiri is probably going to change if they receive a punishment or sporting sanction.

After clearing the first of three obstacles, 777 Partners now needs approval from the Financial Conduct Authority (FCA) and the Premier League, which has implemented a more stringent owners’ and directors’ examination.

The most difficult one for the Americans to overcome will probably be the latter, since all of the turned-in documents will be forensically examined by the FCA.

Everton appears to have new owners in place before the end of the year, and therefore in time for the January transfer window, should the FCA approve the buyout.

There are a lot of unanswered concerns about 777 Partners and the way the investment fund plans to pay for the club’s operations, but there is where the FCA steps in.