Everton debt mountain piles up - Stefan Borson drops bombshell
Everton are dealing with a debt that is continuing to grow due to interest rolling up on it.
That is the view of financial expert Stefan Borson, who exclusively told Football Insider that the Merseyside club need working capital due to not being profitable right now.
Everton’s debt stands at a minimum of £600million and has been putting off investors from purchasing the club.
John Textor has entered a period of exclusivity with Farhad Moshiri to purchase his stake in Everton, but complications over his ownership of Crystal Palace have slowed that process.
Everton have several barriers to a potential takeover
“The big cost in relation to Everton is two-fold,” Borson told Football Insider.
“First of all, you’ve got the debt that they’ve already got there which is sort of £600million and building all the time.
“A lot of the interest is rolling up, i.e. not paid as it becomes due but added to the principle amount as it gets bigger.
“Of course, they also need working capital because the club is not profitable.
“Then on top of that, Textor talked about the importance of the January transfer window, so he’s going to need resources for that as well.
“Those are the key barriers to it.
“Largely around getting the money in place and getting the agreement in place with the lenders to either roll over the debt situation forward or to find money to repay some of that debt.
“It’s impossible to say from the outside where each of those lenders are.”
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.