Kieran Maguire: Everton hit by new takeover blow – ‘they now owe £200m’
The £30million loaned by 777 Partners to Everton may cause other takeover bidders to withdraw interest.
That is the view of finance expert Kieran Maguire, who exclusively told Football Insider that any other parties interested in acquiring Everton will be concerned about their loan debt.
As reported by BBC Sport, 777 Partners have supplied an additional £30million to Everton to assist with operating costs at the club.
It takes the total amount owed to the American firm up to £180million with 777 still waiting for approval from the Premier League to complete their takeover.
The takeover agreement for Farhad Moshiri’s 94 percent stake was struck back in September, but concerns remain over their source of funding.
If the takeover deal is not approved, there are reports that other US investor groups remain interested in striking a deal.
However, Maguire believes other investors will be hesitant to complete a deal knowing 777 Partners could demand the repayment of their £180million loan at any point.
“The decision by 777 Partners to lend a further £30million to Everton is good in the sense that it allows work to continue on the Bramley Moore Dock Stadium,” Maguire told Football Insider’s Sean Fisher.
“It will help continue plans for the stadium to open on its target date.
“The downside is that 777 have not been transparent as to where they source their funding.
“It also creates a debt issue for the other parties interested in acquiring Everton.
“Prospective bidders will have to take into consideration that Everton already owes close to £200million to 777.
“That also appears to be in the form of an unsecured loan which therefore could be immediately demanded to be repaid.“
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