Everton administration now most likely outcome as 777 Partners update emerges
talkSPORT broadcaster Alex Crook believes it is now a case of “when, rather than if” Everton will end up in administration.
The Toffees are in serious financial trouble as they await confirmation as to whether 777 Partners can complete its takeover at Goodison Park.
Even if the American investment fund is given the green light to proceed, serious doubts have been raised with regards to its financial situation.
777 was this week granted an extension to repay a £160million loan, but Crook has suggested it is merely delaying the inevitable.
“It feels almost like a matter of when, rather than if, Everton end up in administration,” he said on the Premier League All Access podcast [19 April, 45m 04s].
“They’re having to borrow from Peter to pay Paul from one week to the next. You just can’t see where it ends.
“We’ve been very dubious about 777 since it first became clear they were the preferred owners. Their business dealings don’t fill you with confidence.”
Everton face uncertain future under 777 Partners
Beggars cannot be choosers, and all that, but it has long been clear that 777 is not the best choice for Everton going forward – even if Farhad Moshiri believes it is.
Simply getting Moshiri out of Goodison Park was all that mattered at one point, but this is the future of the club we are talking about. The warning signs are there.
777 have their fingers in a lot of pies, so to speak, one of which could soon be Everton. Borrowing from ‘A’ to fund ‘B’ is not a long-term strategy that will work.
As we have seen from numerous other clubs in 777’s portfolio, the grass is not always greener when they come into a club.
Yet the longer the takeover uncertainty drags on, the worse Everton’s financial situation is becoming. Evertonians just desperately want some clarity – right now.
In other Everton news, Glenn Murray has shared an “absurd” verdict regarding the Toffees and their points appeal process.
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