Finance expert Kieran Maguire remains skeptical about 777 Partners’ Everton takeover despite the group’s injection of over £200 million into the club.
While 777 Partners recently provided another loan to Everton, totaling more than £200 million, to support various financial needs including wages, operational expenses, and stadium construction, Maguire still harbors doubts about the origin of 777’s funding and their capacity to sustain Everton’s stadium development.
Despite their substantial financial assistance, 777 Partners’ proposed £500 million takeover deal is stalled awaiting Premier League approval due to lingering concerns over their financial backing.
Maguire acknowledges 777’s apparent commitment to the takeover but highlights persistent “question marks” regarding their financial capabilities.
While the increased lending demonstrates a significant commitment, Maguire stresses ongoing uncertainty surrounding the sourcing and cost of funds for 777 Partners.
Additionally, there are apprehensions regarding whether they possess adequate resources to both finalize the Bramley Moore Dock development and manage Everton’s day-to-day operational expenses, especially considering the club’s current financial losses.
“777 partners taking their lending to in excess of £200million does seem like a significant commitment,” Maguire told Football Insider’s Sean Fisher.
“At the same time, there are still huge question marks over how they’re sourcing the money and how much that money is costing them to borrow.
“There are also concerns whether they’ve still got sufficient resources to complete the development of Bramley Moore Dock while also dealing with the day-to-day costs of running Everton, which is losing money at present.
“So it’s one step forward, but there are an equal numbers of steps back.“
Thus, while acknowledging the progress represented by 777’s increased financial support, Maguire suggests that it is offset by lingering uncertainties and challenges.
The situation, in his view, exemplifies a scenario of “one step forward, but an equal number of steps back,” illustrating the complexity and risks associated with the Everton takeover deal.