Everton takeover thrown into doubt following collapse of Australian budget airline

Everton’s protracted takeover by 777 Partners was brought into further doubt as an Australian budget airline owned by the American investment firm fell into administration.

Bonza had its fleet of planes repossessed by AIP Capital, who had provided financing services to 777, the Miami-based company who have agreed to buy owner Farhad Moshiri’s 94 per cent stake in Everton.

It comes as 777 need to raise funds to complete their takeover of Everton. As part of the Premier League’s conditions to approve the deal, 777 have to repay a £158m loan Moshiri took out with MSP Capital and two Merseyside businessmen, Andy Bell and George Downing.

The deadline for that loan fell two weeks ago but 777 agreed an extension of “weeks, not months” and they had approached other lenders, including the American credit provider Blue Sky Capital, in an attempt to access the financing.

The Premier League also insisted that 777 had to deposit £60m in an escrow account and convert their loans to the Merseyside club into equity if they were to be permitted to complete the takeover.

So far, 777 have loaned Everton around £200m to cover running costs including the construction of their new stadium at Bramley-Moore Dock. For now, building work at the £760m ground is continuing, while staff at the club have been paid.

Bonza flights were grounded on Tuesday as the airline entered administration (Getty Images)

Bramley Moore Dock is the site of Everton’s new stadium (Getty Images)

With money coming in from season-ticket sales for their final campaign at Goodison Park and a guarantee of Premier League income for next season after Sean Dyche’s team secured safety, it is thought Everton have the funds to cope in the short term.

However, it adds to the uncertainty surrounding the nine-time champions of England with Moshiri so far refusing to say if he would fund the club were 777 to stop doing so. That could lead to the possibility of Everton going into administration.

MSP, who have security over the ground and some of Moshiri’s shareholding, would have the right to enforce it if their loan was not repaid while there are reports other investors are interested in the club.

777, who were founded by businessmen Josh Wander and Steve Pasko, have insisted they are confident of passing the Premier League’s Owners and Directors’ Test. They own or have stakes in a host of other clubs, including Vasco da Gama, Standard Liege, Genoa, Sevilla and Hertha Berlin, though some have financial concerns.

Meanwhile, Everton have won their last three games to ensure a 71st consecutive season of top-flight football, despite suffering two points deductions this season for breaching Profitability and Sustainability Rules.

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