777 Partners at back of Everton debt queue if takeover fails at Goodison Park
777 Partners would go to the back of the queue for their debt being repaid at Everton should their takeover bid fall through, according to Mark Douglas.
The iNews journalist reported the news after sharing that insiders at Goodison Park believe that the takeover is starting to unravel.
777 has already injected more than £200million into the club though, which would be turned into equity if their takeover bid is successful.
If not, it would be classed as a junior debt meaning they would fall behind other creditors owed money such as MSP Capital, as well as Andy Bell and George Downing.
Douglas wrote on X: “Junior debt.
“They go to the back of the queue of creditors.”
Long line of debt could harm Everton takeover
Any Everton takeover, whether that be through 777 Partners or anyone else is going to be as complicated as they come following some potential failed attempts.
MSP were the first to try and fail, and it is now days away from learning if 777 will suffer the same fate with the Premier League set to make a decision soon.
Should that collapse, enquiries have already been made by other interested parties, but the process would start all over again with yet more debt attached to the club than before.
777 have pumped in over £200million to the Everton cause in recent months to keep the club going, and that won’t just disappear if their bid fails.
It will join the line of MSP and their £158million loan which is the priority both before and after a decision is made on the 777 takeover.
Things aren’t looking great off the pitch right now at Goodison Park, but at least this money wouldn’t be expected back immediately if things don’t work out.
In other Everton news, Dharmesh Sheth has dropped a “huge” transfer claim about the Toffees ahead of potential developments before 30 June.
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