I think you are right 777 probably will pass the test if for no other reason that it would then look to all and sundry that the PL have an agenda against Everton ( however imo they should fail the test based on their track record ).I'm not even thinking about that....yet. I do believe however that the PL will decide that 777 are not fit and proper owners and there you go. This is in spite of the bar being set so low by Newcastle's takeover.
The comment in the judgement about a fine being unsuitable for clubs with wealthy owners is laughable considering what the sanction for the breakaway 6 was. I'm also fairly sure that if the accounts of every PL team were scrutinised, every single one of them would have some creative accounting going on. It's what accountants do - like small businesses who employ them to minimise the amount of tax they pay. Not illegal but pushing boundaries.
That said if I were advising them ( luckily for me I'm not !) I'd point out that there are huge risks proceeding with the takeover given that this and other judgements open the door for multiple claims against Everton the potential cost of which are unquantifiable.
Don't get me wrong I'm not saying Leicester, Burnley , Leeds etc will be successful but quite simply we have no idea what if any future damages they could be liable for.
That would have to be priced in to any deal .
If they don't proceed then unless Moshiri continues to fund and /or drops his price so others become interested then I agree with Phil that administration becomes a real possibility.
Everton are truly between a rock and a hard place.
If we don't go into administration then I think that we will stay up this season ( barring a few key injuries).
What happens next season and beyond I have absolutely no idea.
Very scary.