777 Partners loans Everton over $125M

777 Partners, the U.S. investment firm trying to take over Everton, has loaned more than $125M to the club "while seeking approval for the deal." 777 Partners is "hoping to receive approval by the Premier League and the Financial Conduct Authority before the end of December," and the firm has "indicated it is not prepared to continue supporting Everton with loans beyond January." The costs of running the club are about $25M a month "more than the regular income." The loans are "unsecured," which means that if the takeover "fails to go through, 777 Partners would be at the end of the queue when it comes to Everton settling their debts, should the club go into administration." Sources close to 777 admit "the size of the unsecured loan is a risk," but say it is also "a demonstration of good faith and commitment to the club" (London TIMES, 12/7).