Everton receive £20m loan from 777 Partners after takeover agreement

Potential new Everton owners 777 Partners have already provided the club with a loan of tens of millions.

On Friday it was announced that Everton owner Farhad Moshiri had reached an agreement with the Miami-based alternative investment firm for them to acquire his 94.1% majority stake in the club, where he has been majority shareholder since 2016.

That agreement is one done in principle, with a number of caveats attached relating to the potential value of the deal, as well as the requirement for 777 Partners to gain regulatory approval from the Football Association, Premier League and Financial Conduct Authority. That is in addition to ensuring that the deal is acceptable to major existing creditors of the club such as MSP Sports Capital, Rights and Media Funding Limited and local businessmen Andy Bell and George Downing.

On Monday evening The Athletic reported that 777 Partners had already loaned a sum of money to Everton to provide short-term working capital. The ECHO understands the loan is for both the club and stadium company side and arrived following the agreement between the two parties on Friday.

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While the financial details of the loan agreement - which could not be done via an equity stake owing to Premier League rules preventing the company from investing directly into the Blues until its agreement with Moshiri receives all the necessary approval - have not been disclosed, the sum of the loan is believed to be around £20m.

The interim loan to the club to ease its short-term issues is seen as a sign of confidence on the 777 side that they will be