The Everton Fan Advisory Board claims the wait is 'heartbreaking' for the club's supporters and insists delays 'cannot go on indefinitely'
The Everton Fan Advisory Board claims the wait is 'heartbreaking' for the club's supporters and insists delays 'cannot go on indefinitely'the club is on “life support”, a deal was required to delay repayment of the majority of a £158m loan borrowed by owner Farhad Moshiri from MSP Sports Capital – a US firm who were interested in buying a minority stake – or face further uncertainty.
It will, in theory, give 777 Partners more time to repay the majority of the money owed to MSP Sports Capital and two local businessmen Andy Bell and George Downing that is one of the conditions of imposed on the Miami-based group to get approval from the Premier League. Those close to 777 Partners believe the extension moves the takeover much closer, granting the firm time to get its financial ducks in a row and also proving that there is little appetite on the part of MSP Sports Capital –
And what of the Premier League? Repaying the MSP loan by mid-April was one of the conditions for approving the takeover which has not been met., citing reasons of confidentiality around the process. But sources close to the deal pointed out that it is in the league’s interests to work with all the parties and avoid administration, so it looks very much as if it has relented on at least one of the conditions communicated to 777 last month., 777 appear to be running out of time.
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