Everton have had a tough season, the FFP has not made life easy for the Merseyside club. This week, the Toffees summoned insolvency advisors in an attempt to reorganize their debt and avert a nine-point deduction from going into administration. This is what Kieran Maguire told Football Insider. He said, If the advisors determine that there is no way out of the current predicament facing the club, the club could be in a very bad situation if they fail to figure out a way out of this. As reported by The Guardian, Everton called in a leading firm of restructuring and insolvency advisers.
Following reports that the US-based company neglected to make scheduled payments to the club, this intensified doubts regarding the club’s current takeover agreement with 777 Partners. In the event that the Merseyside club goes into administration this season, Maguire clarified that it is unclear when a points deduction would be applied.
Kieran on the Toffees’ situation
Kieran talked to Sean Fisher, Football Insider:
“Teams will often call in a restructuring company to identify solutions from a professional perspective which the club hadn’t thought about.”
“The senior management at Goodison Park over the past few years hasn’t exactly covered themselves with glory.
“If these restructuring advisors conclude that there isn’t a solution, then Everton have a serious issue.
“It is a complex situation, looking at the Premier League handbook. It is a nine-point penalty if they go into administration.
“However, it is unclear as to when that penalty is applied.“
Although they are getting outside help, the situation does not look good. They currently sit 15th in the Premier League, 11 points clear of the relegation zone. They have tried to keep the club together on the pitch. However, things off the pitch do not look optimistic at this point in the tie. Everton fans will pray that their club gets out of this situation.
As featured on EvertonNews.com.
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