Everton FC

Everton could enter administration after takeover update emerges – sources

Published

1 month ago

May 25, 2024

Everton could enter administration if they don’t quickly resolve their off-field issues as the takeover saga continues to drag on at Goodison Park.

Speaking on the latest edition of Football Insider’s Inside Track podcast, senior correspondent Pete O’Rourke revealed there would also be “massive” concerns if 777 Partners managed to push its takeover bid over the line following the recent negative reports surrounding the company.

The US investment firm agreed to acquire Farhad Moshiri’s 94.1 per cent stake in the club for £500million last September, but the company has so far failed to provide proof of funds to complete the deal.

The Miami-based group has been subject to plenty of scrutiny recently after concerns have been expressed about the way it’s managed other clubs in its portfolio.

The company could now lose control of Vasco da Gama after a report revealed a court in Rio de Janeiro ruled in favour of the Brazilian side due to fears of bankruptcy putting the club at risk.

Standard Liege fans also recently protested against 777’s ownership after the club was placed under a transfer embargo due to unpaid wages and failure to complete other payments.

Everton need quick resolution as 777 Partners takeover unlikely

It’s been an extremely challenging past year for Everton after they have been docked eight points for two separate financial breaches, while the takeover saga has also caused great uncertainty.

777 has loaned the Toffees more than £200million to pay the day-to-day operational costs and keep the club going while it looks to conclude its takeover.

But Football Insider revealed earlier this month the deal will not be completed after Moshiri has set a make-or-break deadline for the end of May.

That poses questions around how the Everton owner will look to continue funding the club if the money from 777 stops coming in, opening up the threat of administration.

Potential new bidders have, however, contacted the Iranian businessman about taking over the Toffees if the US firm fails to complete its takeover in the coming weeks.

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