Keith Wyness can’t believe Everton ‘insolvency’ news as experts called in
Everton’s former chief Keith Wyness has hit back at “scaremongering” over imminent insolvency at his old side.
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 – claimed experts have instead been called in to help restructure the club’s huge debts.
As reported by The Guardian (30 April), Everton called in Teneo – a leading firm of restructuring and insolvency advisers.
The move raised more concerns about the club’s ongoing takeover deal with 777 Partners after the US-based group reportedly failed to provide a loan of £15million for running costs.
It has been claimed that Everton are more than £400million in debt – with potential administration coming with an automatic nine-point penalty.
Wyness hits out at Everton insolvency claims as experts called in
Wyness insisted the club is up-to-date with staff and stadium payments, making potential insolvency a non-event.
He told Football Insider‘s Insider Track podcast:“This is becoming a very messy situation, that’s obvious to the outside world.
“Everton called in a company who are insolvency experts, but actually they are a company who have many divisions.
“It may not have been for insolvency that this company has been called in. In fact, debt restructuring is one of their major divisions.
“In my view, a restructuring would be the key situation which needs to be handled right now.
“I think perhaps the scaremongering about insolvency practitioners is hard to accept.
“Everton are up to date with their payments on the stadium, to staff – it’s hard to see why they would be looking at insolvency as an issue.”
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