'Enormous interest' - Bryan King stunned as update emerges on £225m debt at Everton

Bryan King is shocked by the “enormous” amount of interest Everton are paying on a loan owed to Rights and Media Funding Ltd.

The ex-Goodison scout suggests the Toffees will also be paying interest on other loans.

It comes after a report in the Daily Mirror (1 June) revealed that Everton owe £225million to Rights and Media Funding, a debt costing the club £30million-a-year in interest.

And King – speaking exclusively to Goodison News – is shocked by the size of the figures being quoted.

“If this interest is costing them £30million, what about the interest on the other loans they owe?” King said.

“I can’t believe the amount of money flying around. Is it monopoly money, or is it real money?

“Everton are paying enormous interest every year. I just think the club are going to keep digging deeper and deeper.

“Unless they can find the right owner to write it off.”

Everton find themselves in deep financial trouble at Goodison Park

It is hard to see how Farhad Moshiri finds a way out of this financial mess.

The Toffees have been run like a circus in recent seasons.

And everyone – including those higher up – is now suffering as a result.

Finding a prospective owner who is willing to take on this debt will be difficult.

As time goes by, it is looking more likely that Moshiri is going to have to bite a big financial bullet.

In other Everton news, Robert Kraft could seek a takeover deal at Goodison Park.

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