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777 Partners loan Everton more money as decision on ownership nears

The US investment group have been waiting for a decision about their prospective takeover of the Toffees and might to be nearer to clearing the final hurdles.

By Matt Townsend

SOCCER JPL D33 STANDARD VS UNION SG
SOCCER JPL D33 STANDARD VS UNION SG / VIRGINIE LEFOUR/GettyImages
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This ownership saga has been dragging on since the Miami-based group first agreed in September to buy all of Farhad Moshiri's shares and complete a full takeover of Everton.

Since then the club have been docked ten points for breaching Profit and Sustainability rules and now faces further scrutiny of their finances too.

And the group have already advanced the Blues a considerable amount to keep the club going with an interim board of directors in post and with Moshiri apparently no longer provinding finance once the takeover was agreed.

Now, it has become clear they are contining to fund the Toffees with another £50 million while the process of approving their takeover drags on.

They have managed to get over one hurdle which is the approval of the Financial Conduct Authority but the Americans are still waiting for the Premier League and their owners and directors test to be cleared.

Anyway, as they wait for that process to be completed, Everton need continuing finances to keep the club afloat and pay wages etc.

It is not certain that 777 Partners can continue to prvide these sort of funds and they are likely to pull out of a possible deal unless they get a resolution soon.

That would be potetnially disasterous as they club would be saddled with massive further debt and no obvious way to pay it back.

All this continuing uncertainty is not helping Sean Dyche or his team to make progress on the pitch and help to ensure the Toffees won't be facing another relegation fight this season.

Not for the first time the Blues seem to be under seige with the points deduction, possible further punishment, still no certainty of whether they have new owners or not and almost weekly problems with officiating.

On top pf all that with the transfer window having opened there is little prospect of the club being able to significantly strengthen unless they can find a few loan deals or free agent signings.