Everton Takeover Saga Drags On as 777 Partners Secures Loan Extension

The proposed takeover of Everton faces delays as bidder 777 Partners secures an extension to repay a £160m loan, prolonging the saga past seven months. Concerns arise over 777 ability to raise funds, despite reassurances from previous owner Farhad Moshiri.

Negotiations involve repayment of debts to MSP Capital, Andy Bell and George Downing who hold security over Bramley-Moore Dock stadium development and a portion of Moshiri stake. Delays spark speculation of potential administration, risking further point deductions for Everton currently battling relegation.

The club’s financial strain is evident with debts totaling approximately £550m and significant interest charges to an opaque lender. Everton and Moshiri declined to comment on the situation.