Everton face NINE-POINT deduction with club at risk of administration despite last-minute cash injection of £16million
EVERTON face being plunged into administration — landing them a NINE-POINT hit.
Farhad Moshiri’s Toffees have consulted insolvency experts as would-be owners 777 Partners suffered another major financial blow.
The US investment group saw their Aussie regional airline Bonzo call in the receivers on Tuesday.
It is a further sign that Everton’s £500million takeover, agreed in September, could be doomed.
As SunSport revealed, US insurance giant A-Cap are cutting ties with Miami-based 777, leaving them searching for new backers to fund the deal with Toffees owner Moshiri.
Everton are 11 points above the Premier League drop zone with three games to go, despite being docked eight points this term already.
But the club are confident they will not be forced into administration — an automatic nine-point deduction — after 777 pumped in another £16m to meet immediate bills.
The US firm have loaned nearly £200m to Everton, to keep afloat a club that owe them £500m in total.
But 777’s growing issues mean the Premier League will almost certainly block their takeover bid.
Moshiri is now looking at potential owners while interim chief exec Colin Chong seeks further loans from elsewhere.
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Everton points deduction
EVERTON became the first Premier League team to be deducted points for breaching Financial Fair Play regulations for profit and sustainability.
The Toffees’ ten-point hit comes after an independent Commission determined Everton recorded losses of £124.5million as per Premier League regulation calculations over the three years up to 2021-22 – exceeding the permitted £105m limit.
The Goodison Park club have posted financial deficits for five years in a row.Manchester City are fighting 115 charges of FFP breaches put forward by the Premier League last season.
Only two clubs in Premier League history have been docked points.
Middlesbrough saw three points deducted in 1996-97 for failing to fulfil a fixture against Blackburn.
In March 2010, Portsmouth had nine points stripped for entering administration.
Both Middlesbrough and Portsmouth were relegated following their respective points punishments.
Sean Dyche has steered Everton out of relegation trouble despite the docked points, achieving safety following three successive wins.
But the Prem issued a statement confirming the Toffees are not yet out of the woods because of the appeal they made against their points deduction.
The statement read: “Following their defeat to Newcastle, Sheffield Utd are relegated pending Everton and Nott’m Forest’s points-deduction appeals.”