Due to financial issues, Everton has suffered point deductions this season. They breached the Premier League’s Profit and Sustainability Rules, leading to penalties imposed by the league. Consequently, they found themselves battling relegation, but they are now out of danger.
To compound matters for Everton supporters, there are concerns that the club could lose nine more points if they declare bankruptcy.
Following another financial setback for 777 Partners, Everton’s majority owner Farhad Moshiri sought advice from bankruptcy specialists.
The financial woes of 777 Partners, exacerbated by the bankruptcy of their Australian airline Bonza, have jeopardized Everton’s proposed £500 million takeover, leaving the club uncertain about its future.
Despite this uncertainty, Everton currently sits comfortably 11 points above the Premier League relegation zone with three matches remaining.
However, their hope of avoiding bankruptcy is dwindling, although 777 Partners injected an additional £16 million to cover immediate expenses, having previously provided £200 million to sustain the club.
Nevertheless, the Premier League is likely to reject 777 Partners’ proposed sale due to their escalating financial difficulties. Moshiri is exploring alternative buyers, while CEO Colin Chong seeks additional funding from external sources.
These developments have exacerbated the challenges faced by manager Sean Dyche, the players, and the fans. Despite Everton’s recent on-field success, winning three consecutive matches, their safety is not assured, and concerns about the club’s future persist.
Dyche’s leadership has been commendable, as he has managed to stabilize the team amid adversity, demonstrating his exceptional coaching abilities.