The creditors of 777 Partners may demand a deal involving ownership of the new Everton stadium at a crunch meeting on Monday (15 April), according to Alan Nixon.
The newspaper journalist reported on his Patreon on Sunday (14 April) that the US investment firm are due to hold talks with major owners Andy Bell and George Downing about the loan they have given to the Toffees.
He understands that the businessmen want an immediate answer and may demand payment or ownership of the Bramley-Moore Dock stadium as the “financial mess” the club finds itself in is sorted through.
Everton could be set for further 777 Partners issues
This will no doubt be a concerning situation for the Everton fans as the last thing they will want is for the club to hand over ownership of the new stadium to 777’s creditors.
The mess Farhad Moshiri has overseen over the past few years has caused this uncertainty, with the Toffees racking up huge debts.
It doesn’t come as much of a surprise to hear that the businessmen want some kind of financial reward after the US investment firm has backed the club heavily in recent months.
But they simply can’t afford to hand over the ownership of the stadium because that needs to remain in the club’s hands to potentially allow them to get back on their feet and progress forward.
It’s hard to see how the Blues can really get out of this situation as, unfortunately for them, the debt they owe 777 means they have very little case to argue.
In other Everton news, Pat Nevin has raged over a Toffees development as he shared a “ludicrous” Premier League admission.
GET MORE NEWS HERE
Leave a Reply