Speaking exclusively with Everton News, football finance expert Kieran Maguire has shed light on the situation surrounding 777 loans.
Everton‘s prospective new owners 777 Partners have been under serious flak in recent weeks as news of their lawsuits becomes common.
Amid these, 777 have been lending money to Everton which comes before their takeover has even been ratified.
This is something that could lead to serious complications and which could become a messy situation.
To gain some extra insight into these loans, we spoke with football finance expert and The Price of Football author, Kieran Maguire.
Kieran Maguire on 777 Partners loans
Speaking to us on Tuesday, Maguire expressed his concern over Everton loaning money from 777.
He explained: “777 have lent Everton somewhere between £60m and £190m if stories are true. The basis for those loans is unknown. They could be unsecured, which means that 777 themselves are quite a long way down the queue should anything untoward happen to Everton, but at the same time it’s meant that the club has become increasingly reliant on 777 to pay the operational bills, the wages, the running costs of the club on a month to month basis, and also the ongoing payments due in respect of Bramley-Moore Dock.”
