Kieran Maguire: New 777 Partners ‘threat’ towards Everton is a ‘serious cause for concern’
It is a “serious cause for concern” that 777 Partners have threatened to withdraw all funding from Everton at the end of the month.
That is the view of finance expert Kieran Maguire, who exclusively told Football Insider that Farhad Moshiri seems “unwilling” to cover costs if 777 Partners follow up on their threat.
As reported by The Telegraph, working capital and funding for Everton’s new stadium construction is only assured until March 31.
777 Partners are still waiting for the Premier League to either approve or reject their takeover deal at Everton and have threatened to cut funding if there are further delays.
The US-based investor group have already loaned just short of £200million to the club to help with operating costs at the club – that money could be recalled if the takeover is rejected.
Latest 777 Partners ‘threat’ could cause major issues at Everton
Maguire believes Everton’s continued stadium payments are a “major issue” for the club and therefore they cannot afford to lose the backing of 777.
“777 have been playing a game of brinkmanship and diplomacy since they first were involved and recommended as preferred bidders for Farhad Moshiri’s shares,” Maguire told Football Insider’s Sean Fisher.
“This latest threat of withdrawing further funding to Everton can’t be taken lightly.
“It is a serious cause for concern given that Moshiri appears to be either unable or unwilling to provide further financing himself.
“Looking at the position of Everton, their major issue is the payments for the continued development of the Bramley Moore Dock Stadium.
“If 777 doesn’t loan the money, it’s very difficult to see anybody else who is willing to do so.“
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