Everton auditors may have driven fresh 777 Partners funding before signing off latest accounts at Goodison Park

Auditors at Everton may have asked 777 Partners to invest more working capital into the Toffees before signing off on their latest accounts, according to Matt Slater.

 

The Athletic journalist reported on Friday (12 January) that the extra £40million invested by the American investment firm may have been used to help the Toffees’ annual accounts that were submitted before the end of December.

 

 

777 had originally said that they would only invest £100million before their takeover was completed, but that figure has now risen to £142million, which suggests that Premier League approval is not yet imminent for their takeover.

 

 

 

 

 

 

 

 

 

Sources close to the deal suggested this new £40million loan was evidence that approval from the Premier League was close, however many close to the Toffees and in the football industry aren’t as convinced, suggesting the opposite may be true.

 

Could be a while yet

 

Everton supporters must be incredibly frustrated with this takeover as, despite months of talks and headlines, the Toffees don’t appear to be any closer to having a new owner in charge at Goodison Park.

 

 

777 Partners’ loan has now become so big that it could potentially put off alternative prospective owners from completing a deal to acquire Everton in the future, as the debt to the Amercian firm is already so big that it could prove hard to pay off.

 

 

 

 

 

 

 

 

 

The silver lining from an Everton perspective is the fact that this new capital that has been invested may well have helped the Toffees dodge another points deduction if it has kept them within the Premier League’s profit and sustainability rules.

 

 

However, it doesn’t seem like this takeover saga will be drawing to an end anytime soon with most in the football industry suggesting that Premier League approval is still a way away. It could be an anxious few months at Goodison both off and on the pitch.

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