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Timeline drags but MSP Sports Capital remain interested in Everton

| 17/08/2023 9comments  |  Jump to last

MSP Sports Capital are still working on an investment deal that would see them buy a 25% stake in Everton and install two of their own people on the club's board of directors amid speculation that 777 Partners have re-emerged as potential buyers.

The two United States-based investment entities have looked seriously at either taking a shareholding in Everton or purchase Farhad Moshiri's majority stake outright, with MSP Sports Capital entering into a period of exclusivity this summer as a precursor to taking an initial position in the form of a reported £130m convertible loan.

The Athletic reported in June that New York-based MSP, who filed forms with the SEC in the US signalling the creation of a 13-partner vehicle to invest in Everton, were already involved at Everton thanks to a £40m bridging loan facilitated by online stockbroker and Toffees fan Andy Bell but with the anticipated announcement confirming their involvement failing to materialise, doubt has crept in about the proposed deal.

Everton fan and finance expert Paul the Esk suggested on the Talking the Blues podcast that 777 Partners, who melted away as possible investors over the summer amid doubts about their financial muscle, are back on the scene and once again looking at ways of raising the necessary funds, possibly for a full buy-out.

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However, according to a story branded "exclusive" by i, MSP Sports Capital remain in the driver's seat, are "excited about the potential of Everton" and that it is still their intention to complete what is described as a "complex" deal with "many moving parts".

Journalist Mark Douglas cites a source who claims MSP, led by Jeff Moorad and Jahm Najafi, are genuinely excited about future involvement in the Blues. “It’s a tremendous opportunity," they said. "They are still very much interested in going beyond the interim financing deal in place.

Meanwhile, David Diaz, a sports lawyer who has worked with American investment funds about possible investment and acquisitions in European football clubs told i: “MSP want stable places to invest, they want limited risk. They are not as risk averse as other US firms but they do controlled investments.

“This is going to be big for them. What is clear is that in football they have been little by little, dipping their toe in the water, and this is going to be the biggest deal they have done.

“They will try to build a mid-term road map that will involve tightening expenses around the stadium project and keeping costs fairly prudent around squad building – they will not be another Boehly at Chelsea, putting money into transfers. I see them as more conservative.

“They will try to optimise commercial revenues. American eyes see European clubs as underperforming in terms of their game day revenue. They will really try to maximise revenues from the stadium investment.”

Reader Comments (9)

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Barry Hesketh
1 Posted 17/08/2023 at 16:55:31
At least it's a little bit of 'fresh' news, but it doesn't really inform us of anything that we didn't already know, I still think nothing major will happen until early 2024. The more worrying tit-bit of comment was that Mr. Moshiri is also notoriously unpredictable. Lord knows if and when any deal will be struck, and who with, I just hope the constant rumours about 777 being in the running are purely rumours.

A deal has been rumoured to be “close” for weeks and exclusivity was first agreed with the group three months ago, prompting some to question the reasons for the delay. Everton majority owner Farhad Moshiri is also notoriously unpredictable.

But sources say there remains a desire on the part of MSP to complete a “complex” deal which has “many moving parts”.

Alex Gray
2 Posted 17/08/2023 at 16:58:38
We can't let 777 anywhere near our club. Forget the money they're absolute cretins. Look at the trouble their in with all the charges against them and nearly every club they own are up in arms wanting them out.
Jim Lloyd
3 Posted 17/08/2023 at 17:43:16
The article in the I is very definite about MSP being "very much interested in going beyond the "interim financing deal in place.>"
Initially, there was a hope a deal could be agreed to offer certainty to the club's finances during the summer transfer window; but with the trading period nearing an end and Everton's position looking clearer after a close season clearout, there appears to be no hard and fast timeline on the deal being concluded.
"MSP want two seasts on the Board and hope to bring plenty of fresh ideas to the party if the deal is concluded. They have a history of stabilising and improving struggling sports franchises in the US and believe that "the history fans and brand at Everton, provide plenty of untapped potential.
The atricle says that MSP have already provided "interim funding for the stadium"
Anyway, me two fingers are falling off here, so read the article in the I. It's contained in newsnow everton. I don't usually give much credence to Newsnow, as it's usually click bait, but this is straight form the I.
Some hope that things are moving al;ong "nicely" I blooddy well hope so. :)
Paul Hewitt
4 Posted 17/08/2023 at 20:45:29
How come everything this club does is snail's pace?
Jim Lloyd
5 Posted 17/08/2023 at 21:07:38
Paul, my view it's the price we pay for having a Charlatan, oops sorry I meant Chairman for the last couple of decades or more, who could even make a mess of finding a sugar daddy. His piece de resistance being to get us into trouble with the P & S rules.

Mind you, I think there is a ray of sunshine for us, if that article is accurate. We might even get a Golden Autumn once the Enquiry's over and he departs to his Luvvies retreat.

I wrote half the article out before realising Lyndon had put a link to it! I put that down to excitement!

Jerome Shields
6 Posted 17/08/2023 at 21:18:26
The only part of this that appears concrete is the £40 million bridging loan.The rest appears heresy with a lot of Public Relations speak.

It was assumed Directors leaving was to make way, but it appears imo to have been a ploy to appease the independent commission. I doubt MSP will have Directors aboard anything anytime soon.

It does appear that Moshiri is determined to maintain control and has kept on Kenwright to run the squad on a shoestring. Moshiri continues to juggle the finances to get the Stadium built.

Really it is a continuation of what is usual at Everton. Moshiri has adapted the Kenwright mantra of survival and the blatant hope that something will turn up or change to make him a profit.

John Raftery
7 Posted 18/08/2023 at 11:44:45
‘American eyes see European clubs as underperforming in terms of game day revenue’. That means one thing; increased match ticket prices.
Matt Traynor
9 Posted 19/08/2023 at 16:43:39
I've also heard the 777 rumours - to the point where they're now in pole position for a takeover, and heard they haven't got a pot to piss in. This is shades of two decades ago, hope their front man isn't a certain Ken Billwright Esq.
Kevin Molloy
10 Posted 19/08/2023 at 17:56:07
That's a horrible thought, Jerome. He's clearly not going to get his money back at this point, but he may well be thinking 'keep treading water til the market recovers', ie, the Bill Kenwright strategy.

So no money other than the bare minimum, and then wait it out.

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