Everton could go into administration and land another ‘big points deduction’ – Wyness

Everton could go into administration and land another ‘big points deduction’ – Wyness

Keith Wyness, Everton’s previous manager, has stated that if 777 Partners are unable to complete their takeover shortly, his club may enter administration.

Speaking on the latest episode of Football Insider’s Inside Track podcast, the 66-year-old, who was CEO at Goodison Park from 2004 to 2009 and now operates a football consultancy advising elite clubs, claimed he still hopes a “stronger buyer” will come up and buy the Toffees.

In September 2023, US-based business 777 Partners agreed to a merger with Farhad Moshiri, although the Premier League has yet to approve the transaction.

In a new twist, Football Insider disclosed on Wednesday (17 April) that Everton was within hours of being majority-owned by MSP Sports Capital this week – before 777 accepted an extension on a £158million loan.

Wyness withdraws Everton’s ‘administration’ claim after ‘worst-case scenario’ exposed.

The Toffees reportedly owe more over £550 million to third-party creditors, and the Premier League is understood to want that debt paid off if 777’s takeover is approved.

Wyness stated on Football Insider’s Insider Track podcast: “Administration is by far the worst-case scenario here if this contract does not go through shortly.

“It would result in another significant point loss and serious uncertainty regarding funding streams, sponsorships, and other issues.

“I’m still hoping Everton can get a faster solution from a stronger possible bidder.

“Before the end of the season, we’ve got to try and get a clear path forward in place with a strong ownership group.”

Get more related news on https://sportviewers.com