Everton takeover news: Premier League want 777 Partners to deposit £60m into account
The Premier League want 777 Partners to deposit £60million into an escrow account ahead of their potential takeover of Everton as part of their demands, according to the Independent.
The newspaper reported via its website on 16 April that, having made repaying MSP Capital’s loan one of the conditions to complete the takeover, the Premier League have made other requests.
It was also stated that they would like 777 to convert their loans at Goodison Park to equity ahead of the takeover as well as the £60million deposit and loan repayments.
Premier League make 777 Partners demands in Everton takeover news
A £60million deposit to be made before the takeover is completed should be an achievable sum for 777 given the funds involved in the agreement, but given their reputation for late payments, it may not prove as simple as it sounds.
In terms of turning their loans into equity, it has been reported that 777 have made up to £200million worth of payments to the club to assist with running costs since their takeover talks began in September – a sum which could be converted into equity.
The loan repayment to MSP Capital has been delayed after an agreement was reached between all parties and talkSPORT commentator Sam Matterface shared that 777 told him the payments would now be due at the end of the month or the start of next month.
With the Premier League demands becoming clear ahead of the possible takeover, it looks like a matter of time before it is finalised as long as the group can match those demands as the process is finally drawing to a close.
In other Everton news, Jamie Carragher was shocked by what happened v Chelsea.
For more Everton news, follow us on Facebook or join our brand new WhatsApp Channel for instant updates to be sent straight to your phone.