If Everton has to return £200 million in loans to 777 Partners, other parties who are interested in purchasing the team will be discouraged from making an offer.
According to financial analyst Kieran Maguire, who spoke with Football Insider exclusively, 777 Partners will “throw their toys out the pram” if the Premier League rejects their Everton takeover offer.
The Premier League is expected to make an announcement by the end of February regarding their decision over 777’s purchase deal, according to The Telegraph.
They signed a £500 million agreement with Farhad Moshiri in September to acquire a majority stake, but they haven’t received Premier League approval yet.
Football Insider disclosed on Friday, February 16th, that 777 intends to promptly return their loans totaling over £190 million to Everton in the event that their takeover is turned down, so leaving the team saddled with an enormous debt load.
It is known that other US organizations have been monitoring the takeover scenario in anticipation of closing a transaction in the event that 777 are turned down.
Takeover parties may pull plug on Everton interest because of 777 ‘disaster’
However, Maguire believes takeover parties may be put off by the threat of having to repay over £190million in loans to 777 Partners.
“It was very noticeable just how quick the Ratcliffe takeover at Manchester United was approved by the Premier League compared to the Everton deal,” Maguire told Football Insider’s Sean Fisher.
“Ratcliffe was able to evidence over £3billion worth of cash and liquid assets and everything quickly went ahead.
“Josh Wander and his cronies have failed to do that.
“The stories that are coming out about 777 Partners on a weekly, if not daily basis, never seem to paint the club or the organisation in a positive light.
“They’ve not had a positive impact on the clubs they have acquired to date.
“So the Premier League, to a certain extent, is in a damned if they do and damned if they don’t situation.
“I know that there are other parties interested in Everton as they are a very attractive proposition.
“But parties could be put off by the zombie loans owed to 777 knowing they could throw their toys out the pram and demand the money back if their takeover deal is not approved.“
