While the Premier League has not yet approved the agreement, 777 Partners has had difficulty finalizing the purchase of existing owner Farhad Moshiri’s 94% interest, which they agreed to purchase in September.
One of the biggest obstacles still standing is repaying a £158 million debt to Sports Capital. In addition, 777 must provide roughly £100 million to finish building the team’s new 53,000-seat stadium at Bramley Moore Dock.
As initially reported by Bloomberg, 777 has been in discussions with Luma Capital to determine whether loan financing may be provided.
Luma, a New York-based company, says it offers “capital solutions” to businesses with “complex financial and operational challenges.”.
Due to financial difficulties, 777 had to give Everton a £16 million payment that was postponed in order to cover day-to-day operating costs. Additionally, the airline they operate entered voluntary administration.
