777 Partners have informed Everton that they will no longer financially support them after the end of the year, sources have told Football Insider.
The US group have provided several loans to the Toffees as they await approval for their takeover deal.
However, the Daily Mail report that the Premier League have warned 777 Partners that the takeover will not be approved before the end of 2023.
The takeover deal between 777 and club owner Farhad Moshiri was announced in September, but the process has been repeatedly delayed due to concerns over their source of funding.
Ex-Everton chief executive Keith Wyness told Football Insider that the Everton takeover bid could collapse under scrutiny from the Premier League and Financial Conduct Authority.
Wyness said: “It does seem that there are some pretty severe question marks about 777 Partners. There’s a possibility they may not get the approval to complete the takeover.“
Sources have now told Football Insider that 777 Partners plan to cut their support to Everton if the takeover is delayed into the start of 2024.
They have already provided over £100million in loans to the Merseyside club, which they would require to be repaid if the takeover deal does collapse.
Everton also owe huge sums to MSP Sports Capital and Rights and Media Funding Limited – who both supplied loans to assist the club’s daily operating costs.
As per The Times, Everton’s monthly costs are £20 million a month more than the regular income.
Therefore if the 777 takeover does collapse in the coming weeks, Everton face a dire financial situation with huge debts to repay and operating costs well above their monthly revenue.
In other news, Kieran Maguire drops ‘£100m’ Everton bombshell amid ‘vetoed takeover’ claim
