EVERTON face being plunged into administration — landing them a NINE-POINT hit.
Farhad Moshiri’s Toffees have consulted insolvency experts as would-be owners 777 Partners suffered another major financial blow.
The US investment group saw their Aussie regional airline Bonzo call in the receivers on Tuesday.
It is a further sign that Everton’s £500million takeover, agreed in September, could be doomed.
As SunSport revealed, US insurance giant A-Cap are cutting ties with Miami-based 777
That will leave them searching for new backers to fund the deal with Toffees owner Moshiri.
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Everton are 11 points above the Premier League drop zone with three games to go, despite being docked eight points this term already.
But the club are confident they will not be forced into administration — an automatic nine-point deduction — after 777 pumped in another £16m to meet immediate bills.
The US firm have loaned nearly £200m to Everton, to keep afloat a club that owe them £500m in total.
But 777’s growing issues mean the Premier League will almost certainly block their takeover bid.
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Moshiri is now looking at potential owners while interim chief exec Colin Chong seeks further loans from elsewhere.
Sean Dyche has steered Everton out of relegation trouble despite the docked points, achieving safety following three successive wins.
But the Prem issued a statement confirming the Toffees are not yet out of the woods because of the appeal they made against their points deduction.
The statement read: “Following their defeat to Newcastle, Sheffield Utd are relegated pending Everton and Nott’m Forest’s points-deduction appeals.”
Our beautiful game is broken, says Dave Kidd
By Dave Kidd
WHEN Manchester United got lucky in their FA Cup semi-final, Antony’s first instinct was to goad heartbroken opponents Coventry. To rub their noses in the dirt.
Antony seems to be a vile individual but this isn’t really about Antony. Because Antony is merely a symptom of the hideous sickness within England’s top flight.
There is so much wrong.
After our elite clubs persuaded the FA to completely scrap Cup replays — which gave us Ronnie Radford and Ricky Villa and Ryan Giggs — without due recompense or reasoning with the rest of English football.
The previous day, after his Manchester City side had defeated Chelsea in the other FA Cup semi-final, Pep Guardiola whinged about the fixture scheduling of TV companies who effectively pay much of his £20m salary.
Up at Wolves, Guardiola’s friend and rival Mikel Arteta was playing the same sad song about fixture congestion, despite his Arsenal side having played two fewer games this season than Coventry — who don’t have £50m squad players to rotate with.
Chelsea, oh Chelsea. The one-time plaything of a Russian oligarch now owned by financially incontinent venture capitalists who have piddled £1billion on a squad of players who fight like weasels in a sack about who should bask in the personal glory of scoring the penalty that puts them 5-0 up against Everton.
Read Dave Kidd’s full column as he takes aim at Nottingham Forest, Fulham’s ticket prices, the 39th game, VAR and much more…
Source: Soccer - thesun.co.uk
