Everton: ‘Cash rich’ group lurks in shadows as Farhad Moshiri takeover Plan B mooted at Goodison Park
New investment could be coming to Everton should 777 Partners decide to pull their funding from Farhad Moshiri, according to The Times.
The financial issues that the Toffees have been facing have been no secret to the public over the past few years but have come to the fore this season.
Thanks to a points deduction earlier in the campaign, Sean Dyche’s side have been plunged further into a relegation battle.
The club’s current owner Moshiri had been helped by 777 Partners to help cover day-to-day running costs but they might not stay forever.
Now Paul Joyce has reported on The Times website (5 April) that Moshiri could turn to a new option in the worst-case scenario.
He said: “What happens if 777 falls by the wayside is a multi-million-pound question. So far it has provided about £180 -200 million in loans to cover the club’s monthly running costs. If it stops providing funds, someone else will have to write a £30 million pay cheque every four weeks for staff, player and stadium costs.
“Moshiri’s plan B, if there is one, is unclear. There is interest from another American group, which does not have a sporting background but is believed to be cash rich, but they remain in the shadows.”
The question that Everton fans will be discussing alongside this news is who this group is and what they will look to do. This remains unclear.
What Joyce did confirm was who the club owes money to: “Downing and Bell, who are owed about £50 million, act as security agents on the new 52,888-seater stadium and saving that project would require a payment to constructors Laing O’Rourke at the end of the month as part of a fresh commitment north of £100 million.”
How could this new potential investment affect Everton?
As it stands, the club is being kept afloat by its current investors, 777 Partners who are virtually paying all of the operating costs. Without them, some problems could be around the corner.
Although Joyce suggests that there could be interest coming from America, this doesn’t appear to be a guarantee for the future.
The prospect that the Toffees owe potentially over £150 million for their stadium currently in itself is a huge concern.
Given that Dyche has managed to guide away from the bottom three (despite going on a club-record winless run) there will be some additional funds coming in by the way of prize money and TV deals which may help.
In an ideal world, 777 stays and helps to support Everton and Moshiri where they can but new investment is going to be necessary.
The debt is something that is off-putting to new buyers and this report doesn’t suggest any improvement any time soon.
In other Everton news, a journalist has cast doubt over Dyche’s future at Goodison Park.
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