777 Partners may have a new “avenue to funding” for the new Everton stadium development, according to Josimar.
The outlet reported via their website on 23 March that after the American company’s attempt to raise capital via brokers Tifosy last year was “unsuccessful”, with a spokesperson claiming it had been put on hold and would only be restarted if they received Premier League approval for the deal, it was in doubt that 777 can provide the funding to meet “draconian” requirements set out in a letter from the league.
Sources close to the company have reportedly floated the possibility that a Blue Owl Capital, an “alternative investment asset management company” which claims to manage over $165billion [£131bn] in assets, could be a way for 777 to gain access to capital.
But Josimar reports that any involvement from Blue Owl will only relate to funding the Bramley Moore Dock project and would not be involved in the takeover transaction itself.
One of four Premier League requirements for Everton deal covered?
Providing proof of funds to cover the rest of the stadium build is one of the four key points that the league wants satisfied to grant approval, so if 777 have found a way to get hold of money to ensure that it would therefore go some way to getting their bid over the line.
The most pressing requirement detailed in the letter received from the Premier League this week is the repayment of a £158million loan to MSP Sports Capital for the dockside construction, so it is unclear whether that might possibly also be ticked off if a Blue Owl arrangement can be reached.
