Everton administration update emerges at Goodison Park after 777 Partners takeover twist
Everton are not believed to be under any threat of administration and are not taking insolvency advice under 777 Partners, according to BBC Sport.
The outlet reported on its website on Tuesday (30 April) that the Toffees had received a delayed payment of £16million from their prospective new owners to cover their day-to-day running costs to take 777’s investment past £200million.
Everton now owe around £400million to third-party firms and the Toffees are taking advice over ways to make their debt more manageable, but administration isn’t a genuine concern at Goodison Park.
So far, the club remain up to date with payments to stakeholders such as players, staff, stadium construction Lain O’Rourke and HMRC which should mean they avoid administration and further point deductions.
What is happening with Everton and 777 Partners’ takeover at Goodison Park?
While there isn’t too much good news around Goodison Park when it comes to off-the-field issues this season, it is at least a minor boost that Everton supporters don’t have to worry about the threat of administration.
This latest payment was delayed and that would have raised a few eyebrows on Merseyside, but it doesn’t appear as though that will change too much from Sean Dyche’s side, especially at this stage of the season.
It would have been a massive blow had the Toffees entered administration just days after booking their place in next season’s Premier League, as that would have come with another point deduction and almost certainly relegation.
Hopefully, 777 Partners’ takeover will reach its conclusion sooner rather than later so these fears can be put to one side for the remainder of the campaign. Whether their deal is granted approval or not, most fans just want this ordeal to be over.
In other Everton news, Howard Webb has made a new admission about VAR following controversy in the clash with Nottingham Forest
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