777 Partners threatened to stop supporting Everton, but this week they made a fresh loan offer, people close to the team informed Football Insider.
The American company had vowed to discontinue providing financial support to the Toffees unless the Premier League approved their purchase arrangement.
They have reversed course on their threat, though, and have chosen to keep up their financial support at Goodison Park.
In September, 777 Partners and club chairman Farhad Moshiri reached a £500 million buyout agreement; however, the deal has not yet been finalized due to uncertainty around 777 Partners’ financial source.
Football Insider has been informed by sources that 777 Partners has presented Everton with a new loan offer for “tens of millions” to aid with stadium funding and salary costs.
The Merseyside club has already received multiple loans from 777 Partners, and this new offer will raise the total amount due to more than £200 million.
Everton is anticipated to receive the fresh financing this week, pending the approval of a purchase agreement by mid-April.
According to Josemar, the Premier League has granted “conditional approval” for 777’s takeover agreement.
Football Insider reported earlier this month that 777 Partners and the Premier League had in-person discussions on a pressing matter.
It is acknowledged that if they settle the club’s outstanding debts and demonstrate their ability to get funding for the stadium’s construction, the takeover deal will be approved.
The US group is anticipated to convert all loan agreements with 777 Partners into shares if the Premier League approves the acquisition proposal.
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