Exclusive: Kieran Maguire says 777 ‘strategy’ could become ‘incredibly messy’ for Everton

Football financial specialist Kieran Maguire has provided insight into the circumstances underlying 777 loans in an exclusive interview with Everton News.Since word of 777 Partners’ lawsuits has spread in recent weeks, Everton’s potential new owners have come under heavy criticism.In the midst of all of this, 777 has been lending Everton money—even before their takeover has been approved.Something like this has the potential to get complicated and cause major issues.We chatted with football financial specialist and author of The Price of Football, Kieran Maguire, to get more information on these loans.

Kieran Maguire on 777 Partners loans

Kieran Maguire

Maguire voiced his worries to us on Tuesday on Everton taking out a loan from 777.”If stories are true, 777 have lent Everton somewhere between £60 million and £190 million,” he clarified. It’s unclear where those loans came from. They might be unsecured, which would put 777 far down the list in the event that something bad were to happen to Everton, but it also means that the club has grown more and more dependent on 777 to cover its monthly expenses for operating expenses, wages, and club overhead, as well as the ongoing payments owed for Bramley-Moore Dock.

He went on to say that he believed this might be 777’s cunning plan.”This might be a part of 777’s plan to effectively paint Everton as a toxic target for acquisition by anybody else—after all, who wants to buy a new company with a substantial debt load of £200 million from someone who might demand it back right away?”Therefore, should 777’s attempt to purchase the Goodison Park club falter, Everton may find itself in serious danger.

Maguire warns of ‘messy’ situation

Maguire

Maguire went on to discuss potential outcomes in the event that the takeover failed.It’s a highly intricate situation. I have a suspicion that 777 would file an appeal if the Premier League rejects the takeover, and if that appeal is unsuccessful, one can only imagine what they would try to do with the money they have advanced to Everton.The club lacks the funds to reimburse them, therefore the future course of events would be extremely chaotic.Many Everton fans will undoubtedly be afraid of this, and if a professional like Maguire is worried about it, then it’s something that must be taken into account.

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