Everton takeover: 777 Partners face ‘massive’ bills as £1m-a-week development emerges
777 Partners is facing “massive” bills in its bid to take over Everton if it doesn’t come up with a deal with current lenders Andy Bell and George Downing, according to Alan Nixon.
The newspaper journalist reported on his Patreon on Sunday (21 April) that the US investment firm has been granted more time to pay its debts and pass the Premier League’s ownership test, but that the interest it owes to the businessmen is in the range of £1million-a-week in penalties and interest.
He added that the initial deadline passed last week as the group looks for fresh funding in their “desperate” bid to take over at Goodison Park.
777 Partners facing hefty bills in Everton takeover saga
It’s been a difficult situation from start to finish in 777’s attempts to take over Everton and it doesn’t appear as though things are getting any easier.
While the extension was seen as positive news by the company, the debts it could rack up in the meantime must be pretty concerning.
The group doesn’t seem to have the necessary capital available at this moment in time to not only pay the loan back to the businessmen but also complete the takeover.
The longer the issue goes on, surely the chances of them being handed the keys at Goodison start to diminish further.
It’s unknown how the situation is going to pan out, but the Toffees certainly need some kind of resolution soon as they look to try and start moving forward on Merseyside.
In other Everton news, Stan Collymore has shared a Sean Dyche sack verdict.
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