Everton: Premier League club offered loan to complete new stadium
777 Partners agreed to buy current owner Farhad Moshiri’s 94% stake in September, but there is increasing question marks over the takeover following concerning developments around the Miami-based firm.
On Tuesday, Moshiri extended the sales and purchase agreement until the end of this month, giving 777 more time to try to complete the deal.
One of the conditions imposed by the Premier League for 777 to be given the green light is to fund about £100m for the completion of the club’s new stadium.
Costs for the project have spiralled from an initial £500m to more than £800m, which was disclosed in Premier League documents relating to the club’s appeal over their 10-point deduction for breaching financial rules.
GDA Luma describes itself as providing “capital solutions” to companies facing “complex financial and operational challenges”.
Earlier this month, 777 held discussions with the firm to see whether debt financing could be offered.
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