Everton creditors set to ‘carve up’ new stadium after big takeover twist – Wyness
Everton’s former chief Keith Wyness has claimed the club’s creditors could take ownership of the Bramley-Moore Dock stadium to ensure debts are repaid.
Speaking on the new edition of Football Insider’s Inside Track podcast, the 66-year-old – who served as CEO at Goodison Park between 2004 and 2009 and now runs a football consultancy advising elite clubs – suggested the Merseysiders’ assets could be “carved up” to repay their huge debts.
Football Insider revealed on Wednesday (17 April) that a last-gasp extension deal was granted to prospective owners 777 Partners by MSP Sports Capital – giving them until mid-May to repay an outstanding £158million loan.
It is believed Everton came within hours of being majority-owned by MSP – with the loan secured against 51% of Farhad Moshiri’s shares in the club.
The Toffees reportedly owe more than £550million to third-party creditors, and it is believed the Premier League want that debt cleared if 777’s takeover is to be approved.
Everton could become tenant in new stadium after takeover latest, says Wyness
Wyness suggested Everton could lose out on “great revenue streams” if they become a tenant in the new stadium, which is set to open for the 2025-26 campaign.
He told Football Insider‘s Insider Track podcast: “It’s my understanding that the MSP loan was set to expire, but there was an extension of weeks and not months.
“We now look towards the end of this season before this can be resolved.
“It does appear that 777 have taken big action to find other finance to try and repay MSP.
“It could be that the two groups work together to find a way to fund Everton.
“Or, all the creditors at the club could get together and carve things up. It does appear that could be the case.
“They could now take value out of the stadium and take ownership of the stadium, making Everton a tenant of their new ground – rather than the owner.
“We’re in a position now where all the debt repayment is about to swallow up all the great revenue streams which would come with the new stadium.”
In other news, Everton midfield star ready to quit for Saudi club.
For more Everton news, follow us on Facebook or join our brand new WhatsApp Channel for instant updates to be sent straight to your phone.