The mooted takeover of Everton Football Club has dominated the headlines at the club of late, and now a significant and worrying update has emerged.
What's happening at Everton?
It's fair to say that it is a rocky period for the Blues at the moment, with issues going on both on the pitch and away from the action at Goodison Park. Last Sunday's 1-0 defeat home to Arsenal means that Sean Dyche's side have picked up just one point from their first five Premier League matches this season, leading to concerns that a third consecutive relegation battle could be coming their way.
Off the field, the hope is that Everton are purchased by 777 Partners, with an agreement with Farhad Moshiri confirmed to be in place, but financial issues are holding back the deal at the moment.
Should it go through, it could represent the start of a more promising era at Goodison, prior to them leaving for a new stadium at the end of the current campaign, but a new update suggests there is still plenty of work to be done.
What's the latest news on the Everton takeover?
According to Football Insider, MSP Sports Capital could withdraw their loan offering if they don't see 777 Partners as the right owners moving forward, which would leave the new investors short of the necessary cash:
"MSP Sports Capital can recall their £100million loan to Everton if they do not approve of the club’s new owners, sources have told Football Insider. The Toffees received a £100million loan from the US investment group this month despite talks of a majority takeover collapsing. It is understood that the £100million was needed by Everton to help finance the construction of the Bramley Moore Dock Stadium as well as keep up with monthly bills."
The report continues: "Football Insider has been told that the MSP loan has a ‘recall clause’ that allows them to request repayment of all funds if they don’t approve of the club’s new ownership.
"It is unclear whether 777 Partners would have the finances to both pay off Everton’s recalled loans and keep up with the club’s monthly payments and stadium costs."
This is a clear concern for anyone of an Everton persuasion, with the situation seemingly becoming murkier by the day, at a time when a smooth transition from Moshiri to 777 would do the club the world of good.
The fact that MSP Sports Capital have doubts about the potential incoming owners has to be seen as a worry, and while many supporters want a deal to be struck as soon as possible, the club must be extremely careful that this next era is with the right people in charge.
The hope is that this issue simply blows over and that MSP's stance changes, but the longer the saga goes on, the more it feels as though an agreement could possibly fall through, leaving Everton back to square one and looking for different owners.
It is indicative of how poorly run the Blues seem to be in general currently, and if they don't get out of this malaise quickly, they could find themselves in the Championship next season.
