Everton takeover: New 777 Partners problems on horizon amid London Lions funding update
Everton supporters have been put through the wringer so far this season with a number of off-the-field issues overshadowing matters on the pitch.
Sean Dyche’s side have been plunged into relegation trouble after being hit with two separate point deductions all while the wait continues for 777 Partners to receive Premier League approval to complete their takeover.
The American investment firm has now written to the Premier League to try and get an extension beyond the original deadline of Monday 15 April, as they look to delay the payment of a £158million loan to MSP Sports Capital [i News, 11 April].
Repaying that loan was one of four criteria the Premier League asked 777 to hit before their takeover was approved and their decision to attempt to delay things has created more doubt over their ability to support the Toffees.
Will 777 Partners get approval to complete their Everton takeover?
Further question marks have emerged over 777’s financial power after it was confirmed that the London Lions basketball team will be pulled from European competition due to funding shortages from the American firm [BBC Sport, 11 April].
Lions forward Savannah Wilkinson has said that a number of the team’s stars have already decided to leave the club as they want to continue to fulfil their dream of playing at the highest possible level with, or without London Lions.
The 777-owned team made history by winning the EuroCup and beating Besiktas in the final, but will now not be able to defend their title next season as their owners have been unable to fund another European campaign.
While the American investment firm is understood to be scrambling for cash to try and pay off the £158million loan owed to MSP, their inability to fund a women’s basketball team won’t help them earn Premier League approval.
Unfortunately, the London Lions join a whole host of 777-owned teams that have fallen into financial problems over the last few years. You have to wonder if this takeover being completed really is the best thing for the Toffees in the long run.
In other Everton news, Kieran Maguire has explained how the Toffees could dodge a third-point deduction at Goodison Park
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