£300m development emerges as Everton-777 takeover takes fresh twist - Finance Expert
Everton extended their loan with Rights & Media Funding Ltd but there’s understood to be something mysterious about the deal, according to Kieran Maguire.
The football finance expert read the documents shared by Companies House which reveals that the company has no registered employees.
They barely have any assets and have £300million in debts from Cyprus and the Bahamas.
Via Twitter, Maguire wrote, “Looks like Everton have also renewed/extended their loan with Rights & Media Funding Ltd, the mysterious company with no employees, hardly any assets except a loan book and £300m of debts from Cyprus & the Bahamas.”
This development comes after the Athletic’s David Ornstein reported that the club had received a sizeable loan from 777 Partners.
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It’s baffling how many twists and turns this saga has already gone through and it’s pretty evident that everything is not above board with Rights & Media Funding Ltd.
No proper company is without employees and assets and is still able to sanction a loan that huge.
Only people involved in the minutia of the dealings will have an idea about what’s exactly going on but it does not look too good on the outside.
Hopefully, everything will be clarified in the coming weeks as moving away from Farhad Moshiri was needed but not under dubious circumstances.
Everton are a historic football club that means everything to the local community and anything that’s not above ground must not be allowed to take place.