By Kieran Maguire

24th Sep, 2023 | 12:27pm

Kieran Maguire makes Everton U-turn amid £20m twist - 'I've changed my mind'

It is a ‘concern’ that Everton needed a ‘last-minute’ loan from 777 Partners to help cover monthly costs.

That is the view of finance expert Kieran Maguire, who told Football Insider that he no longer feels relaxed about Everton’s financial situation after they accepted a loan from the US group.

The Athletic reported that the Toffees received a ‘sizeable loan’ from 777 Partners after the Merseyside club announced that the US investors had agreed a takeover deal with Farhad Moshiri.

It is understood that the loan deal between both parties is worth £20million, and was required by Everton to help the club cover monthly payments and stadium costs.

Maguire initially felt relaxed about Everton’s ability to fund their stadium but admits that his opinion has changed since learning of the £20million lending deal.

“Long-term lending to cover short-term financial challenges is never good in any line of business,” Maguire told Football Insider’s Sean Fisher.

“It appears that the money was needed by Everton to pay the wages and potentially to address issues with regards to the stadium construction.

“I’ve said before that I felt quite relaxed about Everton’s finances and about Laing O’Rourke’s ability to go full steam ahead.

“I’m not as confident in that position as I was, as more and more information comes to light

“This is very much last-minute lending in order to keep things ticking over and that is a concern.

“But it’s not indicative of Farhad Moshiri appearing to have any long-term strategy, and given that he’s leaving the club you can understand why he’s not willing to lend any more money.“

In other news, Everton £100m deal at risk of collapse after takeover twist