MAJOR EVERTON TAKEOVER NEWS EMERGES AFTER FRESH TWIST
- Everton's proposed takeover by 777 Capital Partners is now at risk due to lenders not approving the deal and potentially calling in loans worth £350 million.
- The current stance of MSP Sports Capital and Image & Media Rights poses a significant challenge to the completion of the takeover, as they have expressed concerns about 777's ability to pay off debts.
- Everton fans are hoping for a fresh start with the new ownership, but there is a need to ensure that any deal is financially sound and won't lead to further financial difficulties for the club.
Everton have looked set to be on the verge of a takeover being completed at Goodison Park in the near future, but now a huge update has emerged regarding the situation.
Are Everton being taken over?
The Blues have been struggling on the pitch in recent years, finding themselves relegation-threatened in the Premier League a number of times, but it has also been tumultuous off the field.
Everton supporters have displayed their dissatisfaction over the current ownership at the club, with protests staged regarding the likes of majority shareholder Farhad Moshiri and chairman Bill Kenwright, and a change is wanted as soon as possible by much of the fanbase.
Recent reports have suggested that the fans could be getting their wish, with 777 Partners' takeover seemingly on the verge of going through, acting as a huge boost. Now, it looks as though there could still be issues, however, following a concerning new update that has emerged.
What's the latest on Everton's proposed takeover?
According to The Daily Mail, Everton's proposed takeover could now be under threat, due to lenders not being keen on 777 becoming the owners for financial reasons:
"Everton’s sale to Miami-based investment firm 777 Capital Partners is at risk of collapsing after it emerged that major lenders at the club are not in favour of the deal - and could call in loans worth £350million.
"Mail Sport has learnt that loans from MSP Sports Capital and mysterious media company Image & Media Rights contain ‘change of control clauses’. These allow the lenders to call in the loans if they don’t approve of the new owners.
"Sources close to MSP have indicated they do not approve of 777 Capital Partners and would consider calling in their loans. There are very real doubts that 777 Capital Partners could afford to pay off both loans in addition to taking on the club’s debts and stadium construction."
This is extremely worrying news for Everton fans, who will have been hoping to see 777 take over Everton and herald the start of an exciting new era at the club, following such a doom and gloom period at Goodison.
That is still very possible, of course, but this latest update shows that it may not be easy to get the deal through, given the current stance of the likes of MSP Sports Capital and Image & Media Rights.
In fairness, if they have genuine concerns about 777 failing to pay off debts, it is an understandable issue to have, and it is vital that Everton don't rush things through and then find themselves in more financial strife.
The hope is that this all blows over and that there are ultimately no stumbling blocks over time, however, allowing the Blues to move on from the Moshiri era and build towards the future, especially with a move to a new stadium coming at the end of this season.
For now, though, this is a worrying development for anyone of an Everton persuasion, at a time when supporters will feel like they can't catch a break both on and off the pitch.
2023-09-18T06:32:20Z dg43tfdfdgfd