The US-based investment group 777 Partners says it has made a payment of around £16million towards Everton’s working capital amid fresh doubts over its ability to fully fund a takeover of the club. The latest loan was paid on Tuesday, later than expected, and came as the company’s Australian budget airline abruptly ceased flying.
In another development, Teneo, the UK advisers to 777 Partners, severed ties with the firm having gone without payment for work they had done.
At the same time, it emerged that Teneo’s financial arm was advising Everton over the potential restructuring of debts due to the heavy burden it has incurred relating to the construction of a new stadium at Bramley-Moore Dock.
777 Partners have loaned Everton almost £200million for working capital and costs for the new stadium. Contractors Laing O’Rourke confirmed they had received their latest payment and currently have around 1,000 people on site, with the project on schedule to be handed over to Everton in December. The first game is due to be played there in August 2025.
The repossessions of the aircraft by a former investment partner of 777 Partners, which is Bonza’s private equity owner, came while some passengers were still on board.
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