15/04/2024 23comments  |  Jump to last

777 Partners have been granted additional time to settle a loan that was taken out with MSP Sports Capital to fund construction of the new stadium at Bramley-Moore Dock.

A deadline of midnight tonight EST in United States (5am UK time) had been looming for the repayment of £158m owed to MSP, one of the four conditions set out by the Premier League as part of its conditional approval for the Miami-based company to complete its takeover of the Club.

According media reports, an agreement in principle has been reached between Farhad Moshiri and the New York investment firm to extend the deadline which will allow 777 Partners to eventually settle the loan taken out with MSP last year to partially cover building costs of Everton Stadium.

777 Partners remain confident that they can repay the loan and meet all the Premier League's conditions, which include the placement of £60m into an escrow account and the provision of proof that they can fund Everton's operations for the next three years.

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If the takeover is completed, 777 will convert the reported £160m in loans they have already provided the club into equity.

Had this evening's last-minute agreement not been struck, MSP Sports Capital would have been in a position to take a 51% controlling stake in Everton, something, it is said, the firm was relucant to do given the size of the Club's mounting debts.

Quotes sourced from i news

Reader Comments (23)

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Paul Smith
1 Posted 15/04/2024 at 22:33:19
MSP and Moshiri have agreed to a loan extension. Source Bobble. They don't want us after tonight. 👀
Michael Lynch
2 Posted 15/04/2024 at 22:55:18
The BBC reporting that Everton owner Farhad Moshiri and MSP Sports Capital have agreed in principle an extension for prospective buyers 777 Partners to settle the loan owed to MSP,

I suppose to look on the bright side, if I was thinking of buying Everton I'd be running a fucking mile tonight, so 777 must really want us. Or, more likely, they're crazy.

Phil Malone
3 Posted 16/04/2024 at 00:30:56
Strong possibility I’m talking shite, but I’d like an agreement to give MSP Capital the naming rights to Bramley-Moore dock, I would think there is a ban/restrictions in place to not allow ‘too much’ Saudi ownership in the prem. The owners of Newcastle have ran that club like a dream, followed guidelines and not gone crackers in a Chelsea way. I understand the human rights violations involved which is why I’m sure there is possible restrictions in place by the premier league. To cut this complete hypothetical short or short ish, Just let us have one, will yeh…is my main and very backed up by my mates n all, point.
Laurie Hartley
4 Posted 16/04/2024 at 01:05:52
I would like to know when precisely the deal was done - before or after the game last night.

Phillip Warrington
5 Posted 16/04/2024 at 06:32:45
I saw on TV one of the owners just standing there shaking his head.

Living in Australia but being a Blue supporter for 53 years, I have lost a few TVs over the last 4 years, I can't imagine the frustration you guys must go through, week-in & week-out.

Having to live in Liverpool, spend all your hard-earned cash on away games. But it does show in the Premier League that, unless you are turned on from the start, and the other team is, you get hammered.

Simple tonight: Chelsea were up for it and we cowered down, simple schoolboy errors all over the pitch. We could not complete the basics of football, pass the ball to your team mate when not under pressure.

Do we have a skills coach at Everton and a Sports psychologist or motivator? If not, we badly need them.

I watched Forest's last game and they were full of speed and skillful given time on the ball, this is the game we need to win so let's cross our fingers and have a little prayer.

Anthony Day
6 Posted 16/04/2024 at 07:43:55
MSP might as well as ask to be paid in Unicorn shit - it’s got the same likelihood of settling the loan amount from 777

777 have no money and their overdraft has now been curtailed in the US - they are only hanging around as they have (foolishly) ploughed in borrowed money thinking they would get a quick cut -price deal. Now that’s not happened, and they are not front of the queue for debt repayment they cannot walk away. I expect 777 would love someone to come in and save their face and pay them back. They can then return to running all their other interests badly…..

Fit and proper owner test my arse. It should be changed to a custodian test. Everton is an institution (like all other clubs) to be protected and nurtured - not treated like some everyday company to be neglected, mis managed and exploited.

Dark times

Bill Fairfield
7 Posted 16/04/2024 at 09:15:44
This is the biggest shit show in the premier league. Moshiri is only interested in salvaging what he can. Then leaving us with a pack of sharks. Real dark days to come.
John Zapa
8 Posted 16/04/2024 at 12:08:49
As I expected, the extension of the loan happened. I would be very curious to know under what terms. Under the circumstances, this is the best possible outcome for the moment.

I would imagine that since Moshiri can't put any more money into the club, while 777 are struggling to raise more funds, the only other way to pay off MSP would be to wait a little longer until the TV/prize money is handed out and also a couple player sales.

Paul Hewitt
9 Posted 16/04/2024 at 12:13:29
If 777 are struggling to pay back MSP. How are they going to fund the running of the club. And finishing the stadium. Plus a rebuild of the squad?.
Christopher Timmins
10 Posted 16/04/2024 at 12:15:33
It was the only game in town. MSP, to the best of my knowledge, don't invest in Footall clubs, just lend to those who re crazy enough to do so.

After all 777 have to be crazy to want us or an I missing something?

Ben Howard
11 Posted 16/04/2024 at 12:22:23
Without the stadium, I can't see what's in it for 777 Partners.
Bryan Owen
12 Posted 16/04/2024 at 12:57:48
Further to the Washington Post article.

Revolution in Bermuda

How can they be allowed to own Everton?

Peter Hodgson
13 Posted 16/04/2024 at 13:14:11
Not unexpected. The Premier League is kicking the can down the road AGAIN for no reason AGAIN. If 777 haven't got or can't find the money they are not for us which has been clear for some time now. How many times has this got to be said before anyone listens? MSP don't want us, they are only interested in money. Unlikely that they will get it.

777 Partners, and everyone else, are being strung along by Masters & Co for their own reasons, none of which is for the benefit of EFC. What is being done is grossly unfair for everyone involved and going to end in tears eventually. So put an end to it now or is there a twisted delight for someone in this which is being played out?

Pat Kelly
14 Posted 16/04/2024 at 13:32:43
I hope Moshiri doesn’t get a penny back. He has destroyed Everton. He can ride off on that white elephant at Bramley Moore Dock.

777 will never get their hands on a PL Club. Nothing more than charlatans in baseball caps.

Tony Abrahams
15 Posted 16/04/2024 at 13:38:45
Can anyone confirm if it is true that Rights & Media, already have a charge on Bramley Moore stadium, and are ahead of MSP, in the repayment queue?
Jerome Shields
16 Posted 16/04/2024 at 14:29:41
777 Partners typically funds their investments through a combination of their own capital, debt financing, and possibly outside investors. They may also use leveraged buyouts, where they use a significant amount of borrowed money to finance the acquisition of another company.

777 Partners is a private investment firm that focuses on a wide range of industries, including financial services, technology, healthcare, real estate, and aviation, among others. They are not primarily known as reinsurers, but they may have investments or holdings in reinsurers or reinsurance-related businesses as part of their diversified portfolio.'

'Reinsurers repackage debt instruments through securitization. This process involves bundling multiple insurance policies or financial assets together and selling them to investors in the form of securities. Reinsurers do this to transfer risk off their balance sheets, free up capital for other investments, and mitigate their exposure to potential large losses. By securitizing debt, reinsurers can diversify their risk and improve their overall financial stability. It also allows investors to access different types of risk profiles and potentially higher returns by investing in these securities.'


777 Partner's have a appetite for debt and are able to source funds. The likes of MSP Sports Capital, R&FM and Moshiri just want out. As long as the first two get a return they are happy enough.As for Moshiri he is probably just a figure head.The Premier League they are powerless in such a situation.

Peter Hodgson
17 Posted 16/04/2024 at 16:10:01
Paul @ 1

MSP never wanted us. All they are interested in is MONEY.

James Flynn
18 Posted 16/04/2024 at 18:14:13
Christopher (10) - MSP have a history of purchasing, not lending. Purchasing, in partner with other companies, minority pieces of various football clubs and Formula One racing. The only business they own outright is X Games.

They tried to buy 25% of the Club, which R&MF had a say in, so converted the same money into a loan on the new stadium.

I'm guessing when 777 or whomever becomes the new owner, that loan will be turned into equity, which is what MSP wanted in the first place and is right in line with their business profile; minority stake in a pro sports enterprise.

Jerome (17) - Zero indication MSP wants out. Every indication, for the last 11 months now, is that MSP most definitely wants in.

R&MF are a lending company done business for a long time, even back to the Phillip Green days as JG Funding then. The name change to R&MF was in 2015 or 2016.

The just did another loan with Everton in September last year and have other outstanding loans with the Club.

Tony Abrahams
19 Posted 16/04/2024 at 19:27:53
The Mozart of money, has made some fuckin dough out of Everton, down the years James, and probably looked after his mate a few times, in return.
Jerome Shields
20 Posted 16/04/2024 at 20:54:48
Tony #19,

Everton Stadium Development Ltd has two charges taken out in 2023 against it by Blythe Capital whose Directors are Andrew Bell and his wife. Andrew Bell is connected to MSP Sports Capital, so James may be right.

James previously posted that 777 Partners got ahead of MSP Sports Capital because they were prepared to pay £60- £80m to R&MF, getting their approval, whilst MSP Sports would not agree to do so.

I wonder if James could let us know where he go this information, which seems to be a reasonable explanation

There is no use pretending that Everton's loans and funding are not complicated.

James Flynn
21 Posted 17/04/2024 at 06:38:50
Jerome (20) - It was in the news at the time of the MSP deal collapse.

From the Mirror on 24 August (and others reported the same).

"MSP Sports Capital has walked away from an agreement after being told it would have to pay off an existing lender [R&MF]. As per the terms of a prior deal which was led by Everton, Rights and Media Funding Limited, they demanded "high tens of millions" before any money from MSP could even go into the club." This due to the loan agreement Moshiri and R&MF included a "negative pledge".

"an agreement between the owner of a charged asset and a lender stating that the owner will not create further security without the agreement of that lender."

Thus, "high tens of millions" handed over and lender R&MF wouldn't block Mosh and MSP's deal for 25% of the Club.

MSP demurred and 777 jumps back in. A few weeks later: BCLP Advises on Everton Football Club Deal

BCLP are R&MF's law firm. It's them who helped get the deal done between R&MF and 777. No details though. Then Moshiri and 777 Partners announced the "good news".

So, that's it. Anything I've posted is stuff that's been out there and talked about.

And if you haven't yet, go into Companies House and search 'Everton Football Club'. You can read all the loan deals there. No requirement to log-in or provide your info. It's real easy.

Jerome Shields
22 Posted 17/04/2024 at 07:42:18
James #21,

Thank you, James, must have missed the point at the time. Basically, 777 Partners may not own Everton, but they own Moshiri.

Jerome Shields
23 Posted 18/04/2024 at 19:04:24
If the extension is to the end of May, 777 Partners will know whether Everton have survived in the Premier League or been relegated.

I wonder if this has a bearing on seeking an extension?

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