Two multimillionaire Everton fans emerge as potential alternatives to 777 takeover
A general view of fans flags and banners – Two multimillionaire Everton fans emerge as potential alternatives to 777 Partners takeover
Two millionaire Evertonian businessmen and US firm MSP Sports Capital will be targeted as potential buyers if Farhad Moshiri axes his deal with 777 Partners.
Dealmakers believe Liverpudlian investors Andy Bell and George Downing, who already have money tied up in the club, would be seriously interested in at least part-ownership.
The pair’s potential interest came to light after the Bloomberg news agency first reported that MSP, one of the leading lenders for the club’s new stadium, is pondering major investment options for the second time in a year.
Moshiri’s initial agreement to sell his 94.1 per cent stake to 777 last September had materialised after an alternative minority investment deal with MSP Capital collapsed.
MSP, in partnership with Bell and Downing, have £160 million debt remaining in the club after a prior loan was agreed, however. It was a condition in the Premier League approval process that 777 must clear that amount before completing the purchase – but payment is now overdue.
The Esk, a respected financial specialist and Everton blogger, says in his latest article that he believes the club could be heading for administration if the 777 deal collapses. Such claims are denied within the club, who point out that Moshiri has never paid club staff late.
However, weighing up potential outcomes, the Esk adds that there is already a potential route towards MSP Sports Capital obtaining majority control via “two distinct security arrangements” on the outstanding loan.
With 777 descending into legal turmoil in recent weeks, Everton has held talks with restructuring advisers to explore other funding arrangements and Moshiri has been holding face-to-face crisis talks with the Miami firm.
A complicating factor, as Moshiri weighs up his next move, is that 777 has paid about £190 million on operational costs since striking an agreement to buy the club.
New York-based MSP abandoned investment in Everton last year because of complications surrounding the club’s other debts. Its other investments include a stake in the McLaren Formula One team, and European football clubs such as Brondby in Denmark, Augsburg of Germany and Estoril in Portugal.
The firm is headed by Jeff Moorad, a former sports agent who was previously a part-owner and chief executive officer of both the Arizona Diamondbacks and San Diego Padres baseball teams. Moorad founded MSP in 2019 with chairman Jahm Najafi, who is vice-chairman of the Phoenix Suns and has a stake in the basketball team separately.
Bell, an actuary by training, founded AJ Bell in Manchester in 1995 during the early days of the internet. The company, which offers online platforms for do-it-yourself investors and financial advisers to manage investments, had more than £74.1 billion in clients assets when Bell stood back from the firm in 2022.
Downing, meanwhile, is a property magnate, who founded Downing Construction. The pair have been business allies for years and are believed to be owed about £200 million by Everton after ploughing in cash to help the club during a torrid period.
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