777 Partners funding to Everton could tip £100m before takeover is even approved

The American investment firm awaiting approval for the formal takeover of Everton could end up having provided more than £100m in funding by the time they get the green light.

Miami-based 777 Partners are currently going through the process of obtaining regulatory approval from the Football Association, Premier League and Financial Conduct Authority in order to complete the purchase of Farhad Moshiri’s 94.1% majority stake in the club, which was agreed back in September.

The outcome is by no means a given, although sources close to the firm remain confident that approval will be granted by the three bodies. A decision is expected before Christmas on whether or not the regulators have been satisfied with the submissions of 777 Partners, with one of the key issues likely to focus on proof of funds for the acquisition.

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Despite no guarantees of completing a successful takeover, 777 Partners, the ECHO understands, have already provided around £81m in working capital to allow the club to meet a number of financial commitments, including the ongoing development of the stadium at Bramley Moore Dock and also the club’s payroll. Sources claim that the sum could well tip £100m in terms of money provided for working capital by the time a deal is rubber stamped.

The providing of funds ahead of a takeover being approved carries significant risk for 777 Partners. Should they be unsuccessful, or choose to walk away from the deal, then they would find themselves as secondary debtors behind major creditors such as Rights and Media Funding