777 Partners commit to fund working capital at Everton until end of January 2024
777 Partners have committed to fund working capital at Everton until at least the end of January while they wait for a final decision on their takeover of the club, according to the Liverpool Echo (12 December).
The Miami-based investment firm have loaned the Toffees £20m a month since October to help way wages and keep the club running after Farhad Moshiri stopped investing money after a deal was agreed to sell his majority stake.
But while a decision is yet to be made on whether the takeover will be approved, 777 have committed to keep funding the club until the end of January at least while they await a decision.
“Prospective Everton owners 777 Partners have committed to fund working capital through to at least the end of January as they await a final decision on whether they have been given the green light for a takeover,” they wrote.
Phew
There are still huge question marks over whether or not 777 Partners are the right people to take over the great Everton Football Club, but as it stands they’re the only option.
After the club were docked 10 points for breaching profit and sustainability rules by the Premier League, there were question marks about how the club would survive if the club faced more issues financially with administration also mooted.
So while their motives can definitely be questioned and their plans checked over with a microscope, the fact they are continuing to finance the club while they await a decision shows they’re at the very least serious about this deal.
The authorities need to come to a decision sooner rather than later for the sake of the future of the club, and it’s crazy that it has taken this long at all.
Hopefully it will be sorted before we get to the end of January so that we don’t have to question the future of the club anymore, but this is a bit of positive news and one less thing for fans and anyone connected to the club to worry about.
In other Everton news, Gary Neville, Roy Keane and Ian Wright clash over one Toffees star.