'Chances are...' - Kieran Maguire issue finance prediction as Everton dodge 'Disaster'

Everton have nothing to worry about from 777 Partners collapsing but won’t be able to walk away from the money owed to them, says Kieran Maguire.

Speaking to Giulia Bould on BBC Radio Merseyside on 8 October the University of Liverpool’s football finance expert said the club’s fans will be “increasingly glad” to have dodged the American firm as it would have been a “disaster” for them to take over.

The other clubs they owned, such as Standard Liege, have been plunged into uncertainty after their official collapse, while Josimar reportedon 7 October that the terms of the £200million in loans to Everton is expected to result in only £66m being paid back along with the chance to gain a small amount of equity in the club.

Maguire said loan won’t simply be cancelled (2m 55s): “It’s still a legal contract between 777, who should be renamed 666 given the way that they behave, and Everton Football Club, so that will have a stated repayment date.

“Also if you take a look at the small print that’s what we refer to as a junior loan. Everton have got a few loans outstanding from lenders and before 777 can be repaid the other, more-senior, lenders have to be repaid, it goes in steps.

“It’s not going to be an issue. The chances are that somebody is going to buy that loan off the equivalent of the administrators or the equivalent of the administrators are going to have to manage the loan themselves.

“But there’s nothing for Everton to worry about, and I think all Evertonians will just be increasingly glad that they dodged 777 because it would have been a disaster.”

Everton set to be taken over by The Friedkin Group

The latest developments confirm many of the red flags around Josh Wander and 777 throughout last season’s attempted takeover, so it is clearly a huge relief they were never able to gain Premier League approval.

The Friedkin Group have now reached the same stage and aren’t expected to have any issues having their own takeover ratified by Richard Masters’ office [Ben Jacobs, 23 September].

The Roma chiefs previously backed out of their takeover in the summer over the 777 issue, but have worked out a deal with A-Cap, who originally lent 777 the money and have since taken over the debt.

There remains a related complication due to the Leadenhall legal dispute with 777 and A-Cap [Liverpool Echo, 3 October], but it would be a huge surprise if Dan Friedkin had rushed back in to agree a takeover with Farhad Moshiri without supreme confidence they can get it over the line.

There is some speculation among supporters that Moshiri knew 777 could never get their takeover completed, and used their financial backing to get the club through a perilous financial situation last season knowing the repayment terms were favourable.

If that was the case then perhaps the outgoing majority shareholder has been underestimated, but given the debt to 777 proved to be the key hurdle to getting the Friedkin takeover done already [The Athletic, 19 July] it may simply be the way things have subsequently fallen.

It would stick out as a shrewd move among a crowded field of wrong-turns during his reign, but with TFG on the way in Everton are getting closer to being able to consign the relationship with 777 to history.

In other Everton news, the Toffees are after a new right-back and his club is ready to listen to offers that are below his stated release clause.

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