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Dark £150m cloud to linger at Everton no matter what, financial worries remain despite Premier League twist
Everton may look as though they’re in a good position in the Premier League after their 5-1 win over Brighton on Monday evening.
However, not even avoiding relegation to the Championship will be able to help Everton to completely rid themselves of their financial woes.
Financial Fair Play rules have held the Blues back for a couple of years now, which is partly the reason why the squad Sean Dyche has on his hands currently is depleted of talent so badly in certain areas.
And while relegation would only compound those issues further, as well as make the Toffees a harder club for Farhad Moshiri to seek investment for, surviving won’t instantly get rid of a £150million debt that’s still owed.
The Guardian reported on 6 May that relegation would be “potentially catastrophic” for Everton – for obvious reasons.
But Moshiri still needs £300million to pay for the new stadium at Bramley-Moore Dock, there’s “an alleged breach” of the Premier League’s profit and sustainability rules and there’s also this huge loan that also needs to be taken care of.
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The Guardian claims the Blues owe Rights and Media Funding Limited £150million.
In November 2022, Simon Goodley reported that RMFL are “a small player in the world of financing that has also lent money to West Ham United, Nottingham Forest and Spanish top-flight teams”.
That doesn’t sound too bad, does it?
However, Goodley adds that while “Everton erroneously claimed to the Guardian that the firm was regulated”, RMFL doesn’t have any employees, it doesn’t have a website, it doesn’t have a phone number or “a Financial Conduct Authority (FCA) registration”.
That’s not to question anything about this loan but the fact is that it’s there and that it needs to be repaid while at the same time, Moshiri also needs to pay for a brand new stadium at Bramley-Moore Dock, all the wages the players are on and more.
Staying in the Premier League will obviously help out with all this a lot but it’s still not going to bring in the money that’s needed over night.
Moshiri needs investment from 777 Partners or MSP Sports Capital – or both – if he’s to get this great club off it’s knees and back among the serious players in the Premier League.