No end in sight for Everton takeover saga - Wyness claims it could be a year

This tiresome takeover saga has been going on so long now that I think most Everton supporters are just fed up to the back teeth with the situation.

When The Friedkin Group pulled out of the exclusive talks they had agreed with Farhad Moshiri earlier this month, it was a depressingly familiar scenario.

It was the fourth time in the last two years that a potential new owner had seemed as though they were moving towards a deal only for it to collapse and leave the Toffees back at square one.

Now, the problem for the Blues is that the failed attempt by 777 Partners - which lasted nearly a year while the team was facing unprecedented problems with two points deductions for PSR breaches - has left Everton with serious and complicated debts.

That is because the club had already received loans from other creditors while the proposed takeover by the Miami investment group dragged on and on.

777 Partners also provided the Toffees with money to keep the club going, pay the bills and keep the lights on so to speak.

However, 777 became embroiled in a series of legal issues over the last few months of their exclusive period and that ultimately meant they could not fulfill the terms of their takeover before the beginning of June this year.

Dan Friedkin's group have paid off some of those creditors debts and have apparently secured the future funding of the new stadium at Bramley-Moore Dock.

That though means that they have become the latest creditors that Everton now owe money to in the longer term.

But they withdrew from a deal because it seems of the complicated legal circumstances currently surrounding the loans given to the club by 777 Partners.

Now, the Blues former CEO Keith Wyness says it could be a year before there will be a resolution to these debt issues and a new owner can take control of Everton.

This is it appears because of those legal issues and the fact that it has been claimed according to this report, that effectively 777 Partners no longer exists.

So, it could be extremely difficult to work out who is owed that money and how and when it will be re-paid.

That might deter a potential new owner or make the process as long and drawn out as we have previously seen. Were that to be true, the long-term financial viability of the club is open to question.

In the meantime, Everton Director of Football Kevin Thelwell and manager Sean Dyche have to do all they can in very trying circumstances to strengthen the first team squad.

And they have done well overall making five signings and moving on three players who were not critical to Dyche's plans.

Hopefully, there will be some more activity before the transfer window closes at the end of the month but that will almost certainly depend on further player sales.

Although there is rumoured to be interest from other parties, who knows though when or if Everton's ownership will ever be sorted out.