Everton face new financial blow as MSP Sports Capital withdraw from exclusivity talks over taking a 25 per cent stake in the club
- MSP Sports Capital have halted exclusivity talks over a 25% stake in Everton
- The New York firm had previously aimed to make a £150m investment in the club
- They are still set to make a £100m loan to the Everton Stadium Development Co
Cash-strapped Everton are talking to new potential investors after their finances took another hit on Wednesday with MSP Sports Capital withdrawing from exclusivity talks about taking a 25 per cent stake in the Merseyside club.
The American investment group, whose co-founders Jahm Najafi and Jeffrey Moorad have attended matches at Goodison Park, signed an exclusivity agreement with Everton earlier this summer and aimed to make an £150million investment in the club.
But that complicated deal, which included two thirds of the investment going towards owner Farhad Moshiri’s subsidiary company Everton Stadium Development Co, is now dead after an existing lender thought the deal would not see the club receive enough cash in return for equity.
The New York firm are said to be still proceeding with the £100m loan to the stadium company but Everton will receive no hard windfall from MSP.
Everton still need to raise cash to complete the development of Bramley Moore Dock.
MSP Sports Capital have withdrawn from exclusivity talks about taking a 25 per cent stake in Everton
They are still set to make a £100m loan to owner Farhad Moshiri’s subsidiary company Everton Stadium Development Co, but the club will receive no hard windfall from MSP
Everton still need to raise cash to complete the development of Bramley Moore Dock
But a loan should help Moshiri to return the £40m he borrowed from Andy Bell, CEO of stockbrokers AJ Bell, in May, which was meant to bridge a gap in finances for the larger MSP investment.
Everton, who are being investigated by an independent panel for possible breaches of the Premier League’s spending rules, have deep financial issues and Mail Sport understands Moshiri is now in discussion with new potential investor groups.
The Toffees are bottom of the Premier League after two defeats from two and host fellow early-season strugglers Wolves on Saturday in what already feels like a must-win clash at Goodison Park.
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