Alan Myers shares £20m news as 777 Partners loan emerges at Everton
Alan Myers has shared that the 777 Partners loan to Everton across the last 24 hours is said to be worth around £20million to the club.
The American consortium is said to have loaned the money for working capital and stadium costs, as they cannot yet directly into the club with an equity injection until the takeover is done.
Despite their own failed takeover bid, MSP Sports Capital have also loaned money to the cause directly towards Bramley-Moore Dock as the Toffees look to step forward.
Writing on his personal Twitter account, Myers responded to a fan asking for more clarity regarding the “tens of millions” payment to the club.
“Around £20m,” he simply said.
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This seems like a solid move by 777 Partners to metaphorically get their feet under the table before all of the formalities regarding the takeover are finalised.
Everton and Farhad Moshiri are in a position where they will take up any cash they can given the perilous financial position, and it won’t likely need to be repaid should the takeover go through.
Hopefully, moves like this can prove that the prospective new owners do have the cash to move forward with their plans, although it will take a lot more than this figure to do that.
Fans are stuck between a rock and a hard place with this though, with Moshiri clearly not the right man, but worrying protests and reports coming out surrounding 777 Partners.
Only time will tell if this is the right move for all parties, but it looks as though nothing will be happening quickly with a nervous wait likely ahead in the coming months.
In other Everton news, one pundit has slammed the Toffees live on talkSPORT as an “absolute mess” claim is made