Administration may be only option for Everton after latest takeover news
Administration may be the only option for Everton if 777 Partners’ takeover falls through and new properly funded buyers cannot be found, according to The Esk.
The Everton financial expert, who’s been featured in the Daily Mail, claimed on 19 October that ideally, the club would be bought by a sensible and reliable owner, but in the absence of that, administration may be inevitable.
This comes after reports in the USA [New York Times, 18 October] claimed the 777 takeover was on the verge of falling through after the group missed a deadline to provide audited financial statements.
Plenty of cause for concern
While both Everton and 777 Partners officially denied any reports of the deal falling through, the situation remains a concerning one for fans as new worries seem to pop up every day placing doubt in their minds over the eligibility of the takeover.
The Esk has been steadfast in his belief that the prospective owners won’t pass regulator checks that are currently ongoing, and which are set to be decided in December, which would leave the club in huge financial trouble.
In the absence of another interested group, administration would be the only option for Everton, with debts totalling over £1billion which will need paying off, as well as the funds that need to be ongoing payments towards the running of the club.
Ultimately, it’s a very concerning and uncertain situation, particularly for the fans who have no way of telling what is going to happen. Confidence can be taken from the group’s belief that the takeover will go ahead, but concerns continue to rise.
In other Everton news, Dyche will have a new concern ahead of the Merseyside derby.