According to BBC Sport, Everton and New York-based MSP Sports Capital have established an exclusive deal for club investment.
Though negotiations over money are ongoing, sources claim that the contract is not yet finalized.
It appears that MSP has surpassed 777 Partners, which was in negotiations to acquire the company from its owner, Farhad Moshiri.
The new stadium being built by the team on Bramley Moore Dock has escalated prices from £500m to almost £760m, so they need money.
Additionally, the club reported financial deficits in their most recent accounts for a fifth straight year. Over that time, they have lost over £430 million.
With one game left, the Toffees are now two points above the Premier League’s relegation zone.
Everton financial Q&A
Everton and a new investment are in negotiations.
However, if Leicester wins against Newcastle on Monday (20:00 BST), the Toffees will fall into the bottom three.
MSP would be repaid with interest because it is thought that they are seeking a 25% share with a preferential share structure rather than ownership in the club.
The debt on the balance sheet, which was £141.7 million in the most recent reports, has prevented 777 from agreeing to pay a “significant” price, despite having access to the “data room” (financial statements).
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The club is “not for sale,” Moshiri said the supporters’ advisory council in February, although he has been in talks with “top investors of real quality.”
Although British-Iranian businessman Moshiri has contributed over £750 million of his own funds to the club since 2016, several fans are extremely dissatisfied with his ownership of the team.
This season, Toffees supporters have demonstrated in front of several home games, demanding that Moshiri and the board step down from their positions.
It is acknowledged that if MSP completes a minority investment in the club, it will probably anticipate having a voice in the boardroom.
A document that commits a potential buyer and seller to dealing exclusively with one another in advance of a contract exchange by the end of a predetermined amount of time is called an exclusivity agreement.
In this instance, it shields MSP from being outbid by a third party, but it does not provide complete protection against that occurring after the designated window of time.
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