Everton FC is facing a critical situation, with the possibility of entering administration looming if the ongoing takeover saga is not resolved quickly.
Senior correspondent Pete O’Rourke revealed on the latest edition of Football Insider’s Inside Track podcast that the club’s off-field issues need to be addressed urgently to avoid severe consequences.
The proposed takeover by 777 Partners, a US investment firm, has been dragging on since last September, with the company agreeing to acquire Farhad Moshiri’s 94.1% stake in the club for £500 million.
However, 777 Partners has yet to provide proof of funds to complete the deal, raising concerns about their financial capabilities.
The situation has been further complicated by recent negative reports surrounding 777 Partners’ management of other clubs in its portfolio.
The company is facing scrutiny for its handling of Vasco da Gama, a Brazilian club, and Standard Liege, a Belgian club, with fans protesting against their ownership.
Everton has already faced a challenging year, with an eight-point deduction for two separate financial breaches, and the ongoing takeover saga has added to the uncertainty.
777 Partners has loaned the club over £200 million to cover day-to-day operational costs, but a quick resolution is needed to ensure the club’s stability.
If 777 Partners’ takeover bid is successful, there would be “massive” concerns about the club’s future, given the company’s track record. Everton fans are eagerly waiting for a resolution to the situation, hoping for a positive outcome to secure the club’s future.