Everton gain extension on loan repayment

Everton appear to have mitigated any immediate risk of going into administration.

That is according to The Telegraph, stating that they have been given an extension on a loan repayment.

The club is in the process of being taken over by investment group 777 Partners.

However, the Premier League are still deciding whether the prospective owners are fit and proper.

One of the requirements is for the repayment of a £160 million loan the club took out.

777 Partners must also show they have the funds to ensure Everton's stadium construction is completed.