777 Partners’ planned takeover of Everton has been hit by fresh doubts.
There are still worries that the Josh Wander-led team does not have the financial resources to take over the Goodison Park club.
But with the deadline for meeting one of the Premier League’s approval requirements approaching, 777’s attempt to acquire the Blues is currently coming under further scrutiny.
The Miami-based company has asked for an extension of time to return a total of £158 million in loans to three stakeholders, according to Sky News.
This coming Monday is when MSP Sports Capital, who had earlier challenged 777’s proposal, and local businessmen Andy Bell and George Downing are expected to get their money back.
As part of a financial package for the development of Everton’s stalled new stadium at Bramley-Moore Dock, the loans were arranged last summer.
In addition to the repayment, 777 must meet certain requirements established by the Premier League in order to be granted complete takeover authority.
Under those circumstances, Everton will receive a £60 million deposit into an account and have almost 80% of their own debts to the team converted into equity.
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