It says much about the fragile state of Everton that a budget airline collapsing on the other side of the planet has set alarm bells ringing at Goodison Park.
Just days after securing Premier League survival – an achievement that has kickstarted forward planning in the football department – further doubts have emerged about 777 Partners’ proposed takeover of the club.
The collapse of the group’s Australian airline Bonza, which ceased trading on Tuesday leaving passengers stranded, came as news emerged that Everton were speaking to restructuring advisers about the club’s debt, which has outstripped £400m.
While sources denied talk that was a precursor to a potential administration or the takeover collapsing, it is a worrying sign of how precarious Everton’s finances are. Indeed, one source told i it was “no surprise” that the board were taking these precautions. But it is nonetheless alarming given the US-backed takeover feels on a knife edge.
Part of Everton’s debt is £200m that 777 have provided the club to cover running costs. The April payment of £15m cleared on Tuesday but rather than a sign of confidence in the deal, it merely keeps them “in the game”, while doubts swirl about their suitability and ability to complete a takeover deal that has rumbling along for eight months.