Everton administration fear shared by Sam Matterface after talking to 777 Partners
Sam Matterface says he feared the possibility of Everton entering administration after a development involving 777 Partners this week.
The investment fund, who are seeking approval to complete a takeover at Goodison Park, were granted an extension to repay a £160million loan.
According to The Guardian [16 April], the repayment of the debt remains linked to the takeover of Everton going through.
However, Matterface remains worried about the state the Toffees are in off the field as the takeover uncertainty continues.
“Everton are in deep trouble, not just on the pitch but off it as well with these financial issues,” he said on talkSPORT’s Premier League All Access podcast [19 April, 44m 01s].
“I spoke to 777 Partners for the first time this week and, well, dear, oh dear. The fact they had to ask for an extension to pay back a loan is worrying.
“There was potential on Monday night that administration was looming. I was chasing that story on Monday night and it freaked me out a little bit.”
777 Partners takeover latest at Everton
We are now seven months removed from 777 agreeing to buy out Farhad Moshiri’s full stake in Everton, yet it remains unclear which way this is going to pan out.
If the takeover collapses, that is the best part of a year wasted that could have been spent finding other – some would say better – investors to pump money into the club.
If it goes through, which it must be said is looking very unlikely, then a million and one concerns have been aired with regards to 777 Partners and their murky finances.
The American investment fund is effectively borrowing from one person to pay another, and so on and so on. Everton, a proud football club, cannot be treated as just another entity.
For those who think the talk of “administration” is overdoing it, think again. After years of mismanagement, that is simply the position we now find ourselves in.
In other Everton news, Glenn Murray slammed an “absurd” development involving the Toffees live on BBC.
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