It is a “serious cause for concern” that 777 Partners have threatened to withdraw all funding from Everton at the end of the month.
According to financial analyst Kieran Maguire, who spoke with Football Insider exclusively, Farhad Moshiri appears to be “unwilling” to pay for expenses if 777 Partners decides to follow through on their threat.
Funding and working cash for the construction of Everton’s new stadium are only guaranteed until March 31, according to reports from The Telegraph.
777 Partners has threatened to withhold money if there are any further delays while they wait for the Premier League to approve or reject their takeover bid at Everton.
The US-based investor group has already lent the club just under £200 million to help with operational expenses; however, in the event that the takeover is rejected, the funds may be repaid.
Latest 777 Partners ‘threat’ could cause major issues at Everton
Maguire feels that Everton’s ongoing stadium payments represent a “serious problem” for the team, and as such, they cannot afford to lose 777’s support.
Maguire told Sean Fisher of Football Insider, “777 have been playing a game of brinkmanship and diplomacy since they first were involved and recommended as preferred bidders for Farhad Moshiri’s shares.”
“We cannot accept this most recent threat—withdrawing additional financing for Everton—lightly.
The fact that Moshiri seems incapable or unwilling to offer further funding himself raises grave concerns.
“When it comes to Everton’s situation, the payments for the stadium’s ongoing development are by far their biggest problem.
“It will be very difficult to find another person who is willing to lend the money if 777 doesn’t.”
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