Everton's prospective buyers hold discussions with a private equity firm specialising in 'distressed debt' as they aim to complete a protracted takeover of the club.
Everton's prospective buyers have held discussions with a private equity firm specialising in 'distressed debt' as they aim to complete a protracted takeover of the club.
777 Partners agreed to buy current owner Farhad Moshiri's 94% stake in September but have struggled to seal the deal as it is yet to be ratified by the Premier League.while 777 also needs to provide about £100m to complete construction of the club's new 53,000-capacity stadium at Bramley Moore Dock. 777 has been in talks with GDA Luma Capital to see whether debt financing can be offered, as first reported byNew York-based GDA Luma describes itself as providing "capital solutions" to companies facing "complex financial and operational challenges".
777 has endured financial strife this week, eventually sending a delayed payment of £16m to Everton for day-to-day operational costs and having an airline they own enterThe club owes about £400m to numerous third-party firms, with much of the loans being used towards the building of the new stadium.
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