Everton have received a sizeable loan from prospective new owners 777 Partners. It was announced last week that the American investment firm has an agreement to buy the club from Farhad Moshiri, subject to an approvals process. Details of the financing have not been disclosed but amid Everton’s perilous financial situation — influenced by the mounting construction costs for their Bramley-Moore Dock stadium — it can be revealed that 777 has already made a payment worth tens of millions. Premier League rules prevent the company from investing directly into Everton via an equity injection,...
It was announced last week that the, subject to an approvals process.
Given Everton’s pressing need for immediate funding, 777 has lent them money on an interim basis to help with short-term working capital requirements and the stadium build. This is likely to involve 777 providing some expertise from its multi-club model to Everton and occupying an observer role on the board of directors.
Josh Wander, a managing partner of 777, would have attended Sunday’s loss against Arsenal at Goodison Park if he had not been observing Rosh Hashanah, the Jewish new year festival.
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