Kieran Maguire: Everton takeover faces new ‘crisis’ tonight
It is a ‘big concern’ that prospective Everton owners 777 Partners may struggle to secure additional money and complete repayments on their £3billion worth of debt.
That is the view of finance expert Kieran Maguire, who exclusively told Football Insider that the US takeover group are “veering from one crisis to another”.
According to documents seen by Josimar, 777 Partners owed a total of £3billion to creditors in the summer of 2023.
The Miami-based group have struck an agreement with Toffees chairman Farhad Moshiri to buy his majority stake in Everton, but the takeover is yet to be approved by the Premier League.
There have been several concerns over their ability to fund the deal, with additional reports stating that the company’s credit rating was recently downgraded.
Could the Everton takeover deal with 777 Partners now collapse?
Maguire explained that, the situation as of Tuesday night, is that the level of debt at 777 Partners is not an issue but their “high-risk” business approach could now backfire.
“The £3billion worth of debt that has been reported with 777 Partners is not in itself a problem as long as they are generating enough cash flow to manage the debt and interest repayments,” Maguire told Football Insider’s Sean Fisher.
“The big concern is that with 777’s credit rating decreasing on a regular basis, there will be fewer people willing to lend them money.
“Therefore, the interest rates being charged on such loans are likely to increase which is going to put a further strain on the organisation.
“They already seem to be veering from one crisis to another because of the unprofessional way that they have conducted themselves by taking a high-risk approach to so much of their business.“
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