Everton could be just three months away from administration
Ian Herbert shared the news in his Daily Mail column on Tuesday [19 September], which explored the numerous financial issues Everton are facing.
Farhad Moshiri has agreed to sell 94.1% of his shares to American investment fund 777 Partners, but the deal has to be ratified by the Premier League.
Herbert believes there are better options out there, but a worrying update suggests Everton cannot afford to be picky about who takes control of the club.
“Inner Circle and others will tell you that there are credible buyers out there at the right price because Americans consider British clubs wonderful and inimitable, as well as a means of extracting financial value,” Herbert wrote.
“Everton will become a target when Moshiri sets a realistic price and that may be soon, given that the club going into administration would mean him walking away with nothing. That could be three months away, observes ‘The Esk’.”
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What a mess
Everton’s financial problems have been well-documented for a while now, particularly over the past week or so in the wake of the 777 Partners news.
It seems very much like an out of the frying pan and into the fire type scenario for the Toffees, who are stuck between a rock and a hard place.
The fanbase is craving new backers, but all the stories surrounding the American fund are overwhelmingly negative.
There are serious concerns regarding just how much money the group has available, but beggars cannot afford to be choosers.
The dream for Everton is that a respectable backer, or backers, steps forward now that Moshiri’s cards are on the table.
But given the mess the club is in, that will surely not happen.
With the threat of administration a possibility, it makes you question just how things were allowed to get this bad.