Keith Wyness: Everton are ‘very close to the edge now’ after shattering takeover update
Former Everton chief Keith Wyness has claimed the club are “getting very close to the edge now” as the debt grows at Goodison Park.
Speaking on the new edition of Football Insider’s Inside Track podcast, the 66-year-old – who served as CEO of the Toffees between 2004 and 2009 and now runs a football consultancy advising elite clubs – suggested 777 Partners will have problems completing their takeover.
The Miami-based group agreed a £500million takeover deal with Everton chairman Farhad Moshiri in September, but they are yet to receive approval from the Premier League.
The prospective owners have supplied £200million in loans to the Merseyside club in the meantime to help cover costs.
‘There is a problem’, warns former Everton chief about 777 Partners takeover
However, Football Insider revealed on 16 February that 777 Partners intend to immediately recall their loans if their Everton takeover is rejected.
It has been widely reported that the Toffees’ total debt now stands at around £1billion.
Wyness told Football Insider‘s Insider Track podcast: “The longer this process goes on, the worse the problems appear to be for 777.
“There is a problem there.
“It’s a double-edged sword because the length of this decision has also prevented Everton from engaging with any other potential buyers.
“That’s giving Everton another headache.
“It’s hard to know the impact of these loans given to the club by 777 without knowing all the details.
“But the amount of debt is increasing and that isn’t good. Certainly, any new owner would have to come in and look at paying some of the creditors.
“It’s getting very close to the edge now.
“I think there are still people waiting in the wings, and my opinion is that Everton is still a great prize – particularly with the new stadium.”
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