Everton takeover concerns rise as 777 Partners business now put into administration
Concerns surrounding takeover talks at Everton will rise yet again as another 777 Partners business has now been put into administration after a new development.
According to the business news outlet The Age [30 April], Bonza, an airline company part-owned by 777, has gone into voluntary administration after its aircraft lessor tried to repossess its planes.
This comes after ABC [29 April] reported that planes registered to Bonza had been repossessed by AIP Capital, an investment house owned by 777’s umbrella company, to recoup money owed to investors.
It was also said that 777 would continue to bankroll the airline despite the changes – something which has proved to be false already after the administration news.
Why does the latest 777 Partners update affect the Everton takeover?
Fans will have already noticed the correlation with the situation at Everton, with funding not available despite promises made, forcing the company to go into administration – just as has been suggested could happen at Goodison Park.
777 Partners continue to insist that they will have the funds available to complete the takeover, with their £200million worth of loans into the club seemingly proving that point, but delays to repayment of loans elsewhere say the opposite.
The group are steadfast in their insistence that the Everton takeover will be completed despite continued delays and hurdles in the process, but the longer time drags on and the more issues begin to crop up, the less likely that seems.
This most recent problem with another 777-backed company will raise concerns not only because of the parallels that can be drawn with the club but also due to it providing another example where the group have been incapable of maintaining their business.
In other Everton news, one shareholder has spoken out amid takeover concerns.
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