The cashflow provided by the US investment firm will only cover one month, the newspaper said on Tuesday, September 19, on its website.
Given the concerns expressed about 777 Partners’ finances and the group’s agreement to acquire the Toffees from Farhad Moshiri, it questioned how the loan will be financed.
Where 777 will find the money for a job of Everton’s proportions is anyone’s guess, said the newspaper. There was a brief hullabaloo on Tuesday after they let it be known that they had provided Everton a £20million loan.
As respected Everton podcaster and writer ‘The Esk’ observed, that will cover a month’s cashflow for a club which is virtually insolvent.”
Who knows
There are an awful lot of questions being raised at this moment in time around how 777 Partners are going to finance a deal for Everton.
On top of that, the latest development about the loan is likely to raise more suspicion, with many people sceptical about the group’s intentions.
Although the debt has now been paid, the company missed a payment date for £860,000 owed to the British Basketball League earlier this summer.
It makes you question how anyone who couldn’t pay that lowly sum in sporting terms just a few months ago can now hand out £20million and complete a takeover of a Premier League club.
It’s going to be a long process before a deal is pushed over the line, but the latest development just shows what state the Toffees’ finances are in and how the club’s future could be under threat.
