Everton: 777 Partners approach new lenders to pay off loan for takeover at Goodison Park
777 Partners have approached new lenders, including Blue Sky Capital, to secure funding to pay off the MSP Capital loan to Everton, according to Richard Jolly.
The Independent journalist reported that the American group, who previously had a deadline of 15 April to pay off a £158million loan to MSP, has now agreed to an extension on the repayment.
777 had previously approached other lenders such as Blue Owl Capital Ltd over a £360million injection of funding, which has now been described as unlikely.
Everton set for takeover talks with Premier League survival at risk
Everton fans have seen their club’s future go through many twists and turns this season, with a Premier League relegation battle not helped by a pair of points deductions as their prospective new owners struggle to seal the deal.
The nine-figure sum owed to MSP Capital by 777 Partners is the result of a loan taken out by Farhad Moshiri himself, which 777 must pay if they’re to formally complete their buyout of the club.
The fact this saga has stretched back several months casts doubt on whether 777 has the financial strength to fund a Premier League club, exacerbating their late calls for help from outside investors.
Should Blue Sky Capital put up the money for 777’s takeover to proceed, Toffees fans will no doubt feel as if they’re in a cycle of one American investment group owing another American investment group money, which instead should be spent on funding the club itself.
With a brand-new stadium nearing completion and Everton’s position in the Premier League falling after a 6-0 humbling at Chelsea, time is fast running out for 777 to calm the increasingly choppy waters at Goodison Park, both on and off the pitch.
In other Everton news, Jamie Carragher has branded a recent accounting discovery a “joke” in the wake of points sanctions on the Toffees.
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