Keith Wyness ‘sure’ about Everton entering administration – ‘so damaging’
Everton’s former chief Keith Wyness has claimed administration is “not an option” for the cash-strapped Toffees.
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 – insisted the process would be an “absolute last resort”, claiming plenty of options are still open to the Merseysiders.
As reported by The Guardian (30 April), Everton have called in Teneo – a leading firm of restructuring and insolvency advisers.
The move raised fears over potential administration at the club, who reportedly owe more than £400million to third-party creditors.
Entering administration comes with an automatic nine-point penalty in the Premier League – a punishment which would still leave the club outside the relegation zone.
Wyness claimed debt restructuring is the way forward for Everton at this time.
He told Football Insider‘s Insider Track podcast: “I don’t see administration as an option at all.
“I’m sure there are enough ways for the current debt to be restructured that it will never get to that point.
“No club would ever want to go into that situation. Forget the nine-point penalty, it’s just the way you rip the club apart with the whole process – it’s so damaging.
“It would be an absolute last resort, and I don’t think we’re anywhere near that yet.”
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