Everton using new windfall to survive until end of July – Stefan Borson
Everton will be able to use money coming in from the Premier League next month to be able to survive until the end of July.
That is the view of finance expert Stefan Borson, who exclusively told Football Insider the Merseyside giants have so far overcome the “big” hurdles facing them as they look to resolve their crippling financial situation.
777 Partners has failed to get its takeover bid over the line after agreeing a £500million deal for Farhad Moshiri’s 94.1 per cent stake at Goodison Park last September.
That has left doubts around the future of Everton after the club have racked up massive debts, including up to £200million in loans provided by 777 during the takeover process to help cover operating costs and stadium construction fees.
Football Insider revealed last month the Merseysiders will need to sell at least one of their “big” stars before they submit their accounts at the end of June to help balance the books.
Everton overcome immediate hurdles despite takeover collapse
Although Borson admitted there is an “urgency” for Everton chiefs to resolve their financial situation, he suggested third parties with “significant interests” in the club’s survival could provide the necessary funds in the weeks ahead.
“It’s unclear how the cash-flow has worked over May, June and looking forward,” Borson told Football Insider.
“At the end of every month, you have a bit of a cash-crunch when you have to pay the wages. You know there is a big need for cash then.
“They obviously got through May because, otherwise, we would know about it. We are not aware that they are behind with any sort of payments that you would ordinarily see in a crisis situation.
“They have obviously received enough cash from somewhere to pay the bills. They will have another crunch in June.
“The question will be whether they used Premier League money to pay the bills in May or whether that will come in June. If it is coming in June, it will get them through this month.
“We know there will be another Premier League payment for next season in July, so that will get them through July.
“But at some point, they will have a need for additional, external third-party cash. Clearly Moshiri is not going to fund them.
“But it may be that those people who have got significant interests in the survival of Everton will be prepared to fund them in the period after the receipt of the Premier League money.
“There is an urgency, but they seem to have got through the big, immediate hurdles they had.”
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