Everton‘s prospective new owners 777 Partners’ may become ‘very messy’ for recent weeks

Kieran Maguire, a football finance expert, spoke exclusively to Everton News about the situation with 777 loans.

Everton’s prospective new owners, 777 Partners, have come under considerable criticism in recent weeks as word of their cases has spread.
777 has been providing money to Everton despite the fact that their takeover has not yet been confirmed.

This has the potential to cause major issues and create a complex situation.

To learn more about these loans, we chatted with Kieran Maguire, a football financial expert and author of The Price of Football.


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Kieran Maguire and 777 Partners loans

Speaking with us on Tuesday, Maguire underlined his worries about Everton borrowing money from 777.

He explained: “If the stories are true, 777 lent Everton between £60 million and £190 million.” The reason for these loans is unknown. They may be unsecured, which means that 777 is far down the queue if anything bad happens to Everton, but it has also meant that the club has become increasingly reliant on 777 to pay the operational bills, wages, and running costs of the club on a monthly basis, as well as the ongoing payments due in respect of Bramley-Moore Dock.”

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Continuing, he speculated that this could be a clever strategy by 777.

“This could be part of a strategy by 777 to effectively make Everton look like a poisonous potential acquisition by anybody else because who wants to acquire a new business which has thick end of £200m worth of debt from somebody who might demand it back immediately?”

Everton could be in jeopardy if 777’s offer to buy the Goodison Park club falls through.

Maguire warns of the’messy’ scenario.

Maguire went on to outline what would happen if the deal fell through.

“So this is a pretty complex scenario. If the Premier League rejects the buyout, I believe 777 will file an appeal, and if that appeal fails, one can only imagine what they will do with the money they have advanced to Everton.

“The club doesn’t have the cash to repay them, so how things would go from there would become incredibly messy.”

This will undoubtedly be a source of concern for many Everton supporters, and if an expert like Maguire is concerned about it, it is something that must be addressed.

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