A “big concern” is that potential Everton owners 777 Partners would find it difficult to raise further funding and finish paying off their £3 billion in debt.
Financial expert Kieran Maguire holds this opinion, exclusively revealing to Football Insider that the US takeover firm is “veering from one crisis to another.”
In the summer of 2023, 777 Partners owed creditors a total of £3 billion, according to documentation that Josemari was able to view.
The Miami-based organisation and Toffees chairman Farhad Moshiri have reached an agreement for the Miami-based business to purchase his majority interest in Everton; however, the Premier League has not yet approved the deal.
Concerns have been raised about their capacity to finance the transaction, and according to new sources, the company’s credit rating was just lowered.
Might the 777 Partners acquisition agreement with Everton now fall apart?
As of Tuesday night, according to Maguire, 777 Partners’ debt load is not a problem, but its “high-risk” business strategy may suddenly backfire.
Maguire told Sean Fisher of Football Insider, “The £3 billion in debt that has been reported with 777 Partners is not in and of itself a problem as long as they are generating enough cash flow to manage the debt and interest repayments.”
“The main worry is that 777’s credit rating will continue to drop, which will make lenders less inclined to provide them financing.
As a result, the interest rates on these loans are probably going to go up, which will further pressure the company.
“They already appear to be veering from one crisis to another due to their lack of professionalism and high-risk approach to a large portion of their business.”
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