Everton takeover in huge jeopardy after Tuesday twist – Keith Wyness
Everton’s former chief Keith Wyness has claimed the “window of opportunity is closing” for the club’s takeover to be completed.
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 Merseyside club are becoming a “less attractive proposition week on week”.
According to the BBC (23 April), Everton are searching for third-party investment to push through a protracted takeover by 777 Partners – which was agreed in September but is yet to be approved by the Premier League.
However, the BBC also reported that Farhad Moshiri’s camp insist the club continue to “work on completing the deal with 777”.
The Toffees reportedly owe more than £550million in total to third-party creditors.
‘Time is running out’ for Everton takeover after new twist, says Wyness
Wyness claimed he is still “hopeful” an alternative investor will come forward but admitted “time is running out”.
He told Football Insider‘s Insider Track podcast: “It’s been dragging on nearly eight months now.
“The club, as recently as Tuesday, maintains they are working constructively with 777 Partners to make this happen.
“Other reports have claimed they are going to Deloitte, their advisors, and other sources like sovereign wealth funds.
“So we’ve got conflicting reports, and there’s no doubt time is running out pretty quickly.
“Everton’s belief in 777 has possibly meant it is now either them or nothing.
“Interest on the debt has been piling up every week, and it becomes a less attractive proposition week on week.
“That’s why I’ve been so vocal about the decision dragging on as long as it has.
“It’s still possible. I see a way for a new investor to come in, but they’ve got to be able to pay off the debt.
“The new stadium and revenue could give Everton the stability they crave. But it would take someone to restructure the debt and put it on a longer payment schedule.
“I’m hopeful, but that window of opportunity is closing every day.”
In other news, Everton plan to replace Amadou Onana revealed.
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