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Kieran Maguire: Farhad Moshiri has put Everton in 'danger' amid £40m update
Farhad Moshiri has put Everton in ‘danger’ by failing to support them financially during the takeover process.
That is the view of finance expert Kieran Maguire, who exclusively told Football Insider that the situation at Goodison Park is ‘deeply concerning’.
Moshiri struck a takeover agreement with US investor group 777 Partners in September, but the prospective new owners of Everton are still being assessed by the Premier League.
In the meantime, they have provided the Toffees with short-term loans in order to help the club manage daily operating costs.
As reported by The Times, the loan was initially worth £20million, but it has since been increased to £40million amid concerns over the takeover delay.
The £40million loan could be converted to equity by 777 Partners if they do acquire the club, but if the takeover falls through then it adds to the huge debt at Everton.
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Maguire believes current owner Moshiri has put Everton in ‘danger’ as he has ‘washed his hands with the club’.
“I think it is very concerning,” Maguire told Football Insider’s Sean Fisher.
“Farhad Moshiri seems to have washed his hands of the club in terms of support, and that’s always a danger.
“When you’ve got an owner who comes in and has no historic or emotional attachment to a football club, they treat it as an executive toy.
“Like many people with toys, they get bored of them.
“So where are Everton going to find the monthly wage bills and monthly payments which are due to the contractors for the stadium?
“It is deeply concerning.
“And I can imagine that many Everton fans will be feeling extremely twitchy at present.“
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