Premier League - Reported Everton FC Consult Insolvency Advisors
Premier League - Reported Everton FC Consult Insolvency Advisors.
This comes after doubts around the 777 Partners takeover of the club.
Reported - Everton FC have called in a Global Firm of Restructuring & Insolvency Advisors,
a signal there is further doubt about the 777 Partners ability to meet the Premier League's
conditions for their proposed buy out of Farhad Moshiri's shares.
According to the Guardian, the club have approached Teneo, a leading financial advisory
firm, as they await a further £15m capital injection from 777 Partners, to cover ongoing
expenses, the bulk of which remains the construction at Bramley-Moore Dock, which would
take the American Private Equity lending to the club to £200m.
The 777 Partners, were granted a extension to a deadline for the repayment of nearly £160m
to MSP Sports Capital earlier this month, but 777 Partners insist they remain confident of
completing the takeover, by the end of May.
Their ability to fund the deal, they need to meet the premier league's conditions continues
to come into question.
A budget airline that 777 Partners operate in Australia, haas entered voluntary administration,
the entire fleet of Bonza's Boeing 737 Max8 aircraft were repossessed, by the holding
company Phoenix Aviation Capitol, who majority own the planes, because of unpaid accounts,
leaving passengers at several airports stranded.
This comes after reports 777 Partners is involved in a court case in the U/K, to a claim of
£24m in unpaid aircraft leasing fees & damages.
Outcome ?
Everton FC could go into administration, taking a 9 point hit, but before doing this, the club
would make sure they have points enough not to lose their place in the premier league.
