Everton’s prospective owners 777Partners will lend Toffees another £30m… despite vowing to stop funding the club unless the Premier League approved their takeover

Everton’s prospective new owners 777Partners have committed to lending them a further £30million this month taking their total investment in the club to over £190m. 

The latest loan has been agreed on the proviso that a Premier League decision on 777’s proposed takeover is imminent, although that cannot be guaranteed, with chief executive Richard Masters telling a parliamentary select committee a fortnight ago that an outcome was still several weeks away.

777 are lending Everton the money to cover wages and provide funding for the new stadium, although the fact that they need to do so will raise further questions over the state of the club’s finances. 

Premier League clubs receive a significant amount of their annual television revenue from the league in January and February so in ordinary circumstances such additional funding would not be necessary.

777 seem to have changed their approach to Everton, as before Christmas sources at the American private equity firm were claiming that having already leant the club over £100m since reaching a purchase agreement with Farhad Moshiri in September they would not continue funding them into the New Year.

Everton majority shareholder Farhad Moshiri reached a purchase agreement with 777Partners back in September

777 Partners lent Everton over £190m since (pictured – managing partner of 777, Josh Wander)

The loans appear to be part be a high-risk strategy from 777, as they are unsecured and the company would join a long list of creditors at Goodison Park should their takeover not be approved.

In addition to the £190m that will be owed to 777 Everton also major debts to other investment companies, with £200m owed to Image & Media Rights and £140 to MSP Sports Capital. 

The club’s sale price to 777 is unknown and will depend on which division Sean Dyche’s side are in next season, but with their debts running at over £500m their liabilities could exceed the club’s valuation.

777 and Everton declined to comment.