It’s possible that Everton auditors secured new cash from 777 Partners prior to approving the most recent Goodison Park accounts.
Matt Slater claims that before approving the Toffees’ most recent financial statements, Everton’s auditors may have requested that 777 Partners contribute additional operating cash to the team.
The extra £40 million made by the American investment group may have been used to support the Toffees’ annual reports, which were sent in before the end of December, according to an article published by The Athletic journalist on Friday, January 12.
777 had previously stated that they would only invest £100 million until their acquisition was finalized, but since then, they have increased that amount to £142 million, indicating that the Premier League may not grant them takeover approval anytime soon.
Sources close to the deal suggested this new £40million loan was evidence that approval from the Premier League was close, however many close to the Toffees and in the football industry aren’t as convinced, suggesting the opposite may be true.
Could be a while yet
Everton supporters must be incredibly frustrated with this takeover as, despite months of talks and headlines, the Toffees don’t appear to be any closer to having a new owner in charge at Goodison Park.
The loan from 777 Partners has now grown to such an extent that it may deter future potential buyers from closing a contract to purchase Everton since the amount owed to the American company may be difficult to repay.
The bright side for Everton is that, should they have stayed within the Premier League’s profit and sustainability guidelines, the additional funds invested may have prevented the Toffees from losing more ground.
But, it doesn’t appear like this takeover drama will stop anytime soon, since the majority of those in the football industry believe Premier League clearance is still some distance off. A nervous few months are in store for Goodison, both on and off the field.
