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777 Partners to request meetings as £140m Everton loan news emerges
Prospective new Everton owners 777 Partners must pay back £140million in stadium loans should their deal to take over the club proceed, according to The Times.
The newspaper reported on its website on Monday (18 September) that a takeover deal from the US investment firm would trigger the loans.
777 Partners has signed an agreement with Farhad Moshiri to acquire his full stake in the club, according to the official Everton website (15 September).
“Everton’s prospective new owners 777 Partners will have to pay back £140million provided by two lenders for the club’s new stadium should their deal to buy out Farhad Moshiri proceed,” according to The Times.
“MSP Sports Capital offered a £100million loan after their own attempt to acquire some of Moshiri’s shares collapsed, while businessmen Andy Bell and George Downing also put down about £40million towards the completion of the 52,888-capacity arena at Bramley-Moore Dock.
“Under the terms of the deals, however, a change of ownership would mean that those loans have to be repaid and Miami-based 777 Partners are now set to request meetings with both parties in the hope of keeping them involved.”
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Exciting times
The club’s new stadium at Bramley-Moore Dock has fans getting very excited at their future, with the arena finally seeing Everton close the gap on their Premier League rivals in this regard.
While there will undoubtedly be an emotional farewell for Goodison Park, the time has definitely come for the club to move on.
Their current home has served them well for quite some time now, with the iconic venue certain to be missed by supporters.
Unfortunately, however, there have been a few hiccups along the way with the new stadium build, and there are certain to be a few more over the coming months.
Still, the Toffees can look forward to moving into their new home and reaping the rewards of the 52,888-seater stadium.
Fans are still somewhat in the dark about 777 Partners, but the change in ownership can only be a good thing after several years of frustration under Moshiri.
In other Everton news, Alan Myers has shared a “tumultuous” Moshiri verdict amid the latest Toffees takeover news.