Everton given boost as four groups pursue takeover after collapse of 777 Partners deal
777 Partners’ takeover of the Toffees collapsed at the end of May, leaving owner Farhad Moshiri able to pursue new options
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Your support makes all the difference.At least four groups are trying to buy Everton after the collapse of 777 Partners’ takeover.
Owner Farhad Moshiri’s period of exclusivity with the crisis-hit American investment firm expired at the end of May, leaving the billionaire able to discuss a deal with other interested parties.
777 needed to repay a £160m loan that Moshiri took out with MSP Sports Capital, Andy Bell and George Downing if their takeover was to proceed and the Miami-based firm failed to do so.
Now there are two separate options to buy the club among the creditors with MSP considering taking control, possibly with other investors.
Bell and Downing, two Merseyside businessmen, are trying to form a different consortium to purchase the club, along with other potential buyers.
Meanwhile, 777 had loaned Everton around £200m for the construction of their new stadium at Bramley-Moore Dock. That debt has been inherited by A-Cap, an investment and asset-management firm that had loaned 777 money, and they are considering a deal that could allow Moshiri, who has a 94.1 percent stake in Everton, to stay on as majority shareholder.
In addition, Crystal Palace co-owner John Textor has stated publicly that he would like to buy Everton, though he would have to sell his 45 percent stake in the London club first. Textor, an American businessman, also owns Lyon.
Besides their debts to MSP, Bell and Downing and 777, Everton also owe Rights and Media Funding over £200m. Rights and Media and MSP, Bell and Downing have more security, while Moshiri is owed £450m in shareholder loans, though he is unlikely to recoup the vast majority of that.
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