Everton is “very close to the edge now,” according to Keith Wyness. following a devastating takeover update

Everton is “very close to the edge now,” according to Keith Wyness. following a devastating takeover update

Keith Wyness, former CEO of Everton between 2004 and 2009, has raised concerns about the club’s financial situation, stating that they are “getting very close to the edge now” as debt continues to accumulate at Goodison Park.

Speaking on Football Insider’s Inside Track podcast, Wyness, who now runs a

football consultancy advising elite clubs, cast doubt on the completion of the takeover by 777 Partners, a Miami-based group.

Despite agreeing to a £500 million takeover deal with Everton chairman Farhad

Moshiri in September, the takeover is pending approval from the Premier League.

While awaiting approval, 777 Partners has provided £200 million in loans to Everton to assist with covering costs. However, recent reports suggest that if the takeover is rejected, 777 Partners intends to recall these loans immediately.

The total debt of Everton is estimated to be around £1 billion, posing significant

financial challenges for the club. Wyness highlighted the complexity of the situation, expressing concern over

the increasing debt and its potential impact.

Moreover, the prolonged takeover process has prevented Everton from engaging

with other potential buyers, further complicating the situation.

Wyness emphasized the importance for any new owner to address the club’s financial obligations and debts.

Despite the challenges, Wyness believes that Everton remains an attractive proposition,

particularly with the development of a new stadium.

He suggested that there may still be interested parties waiting to invest in the club, but

emphasized the urgency of addressing the financial issues facing Everton.

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