Everton debt is a 'very serious thing' as 777 Partners loan money continues

In partnership with

GiveMeSport

·5 de febrero de 2024

Everton debt is a 'very serious thing' as 777 Partners loan money continues

Highlights

Everton's prospective new owners, 777 Partners, have been pumping money into the club despite not receiving approval from the Premier League, creating a serious financial situation at Goodison Park.
777 Partners has already loaned £160m to Everton and has committed to lending another £30m, totalling over £190m, which the club will owe if the takeover deal falls through.
The money being injected into the club is not benefiting Everton on the pitch, as they failed to make any new signings in January.

Everton's prospective new owners, 777 Partners, have been regularly pumping money into the club despite not receiving approval from the Premier League, and journalist Paul Brown has told GIVEMESPORT this has become a serious issue at Goodison Park.

Back in September, Farhad Moshiri, the current owner of Everton, came to an agreement to transfer his 94.1% ownership to 777 Partners, with the expected completion of the sale to be finalised by the end of 2023. However, we're now in February and the deal is yet to receive full ratification from the relevant authorities.

OneFootball Videos

While 777 Partners received approval from the Financial Conduct Authority in December, providing a positive development for their takeover bid at Goodison Park, there are still additional obstacles to overcome before Josh Wander and his consortium can be officially announced as the owners of the Merseyside club, including approval from the Premier League.

Back in October, The Times reported that 777 Partners had loaned £40m to Everton, double what they initially pumped into the club nearer the time it was announced that they had agreed a deal to take over at Goodison Park. Fast forward to February, the Miami-based investment group have now committed to lending another £30m to the Merseyside outfit, taking their total to over £190m.

The Toffees didn't spend a penny in the January transfer window, and it's no surprise considering everything going on in the background. Not only is the takeover situation ongoing, the Merseyside club were also hit with two charges by the Premier League for breaching financial regulations. Everton will have to be careful, especially considering they will owe 777 Partners almost £200m if their deal to take over the club falls through.

Journalist Brown previously told GIVEMESPORT that 777 Partners are now 'pessimistic' about their chances of completing a takeover. Brown has also claimed that despite the Toffees being hit with a second charge by the Premier League, where they could face a points deduction, another investment group are waiting in the wings in case a deal with 777 Partners collapses.

The money being pumped into the club isn't even benefiting Everton on the pitch after they failed to bring in a new signing in January. Worryingly, it appears the cash is being used to keep the lights on at Goodison Park.

Paul Brown - Everton's debt is 'very serious'

Brown has suggested that there is nothing to indicate that the 777 Partners deal with Everton is going to be completed, meaning the club's debt to the investment group will have to be paid back. The journalist adds that Everton's debt situation is becoming a 'very serious thing' at the moment. Speaking to GIVEMESPORT, Brown said...

"It's difficult to know how much money they have to spend until they know what penalties they're likely to incur. So the bigger issue really for Everton is that there is still all this loan money going in from 777 Partners, who are no closer to taking over the club. We don't know the terms of those loans. We don't know the interest rates, but it's all money that will need to be paid back at some point, if this takeover doesn't happen. There's nothing to indicate currently that it is going to happen. And ultimately, this is just loading the club with more debt, which is a very serious thing at the moment. The last thing Everton need right now is debt."

Everton injury update

Speaking after Everton's 2-2 draw with Tottenham Hotspur on Saturday, Sean Dyche provided an injury update on his squad, with multiple players missing the game due to fitness issues. Arnaut Danjuma missed the latest fixture, and the Everton boss has confirmed that the Dutchman is 'very doubtful' for the trip to Manchester City on Saturday.

Ben Godfrey was also substituted against Spurs, but Dyche has confirmed that it was just cramp. The former Burnley manager failed to provide an update on Amadou Onana or Abdoulaye Doucoure, so it will be interesting to see if they're involved in training this week.