Everton’s £100 million takeover proposal is in jeopardy of failing, according to sources
According to sources speaking to Football Insider, MSP Sports Capital has the option of calling back their £100 million loan to Everton if they do not like the club’s new owners.
Despite talks of a majority takeover failing, the Toffees received a £100 million loan from the US investment company this month.
It is understood that the £100million was needed by Everton to help finance the construction of the Bramley Moore Dock Stadium as well as keep up with monthly bills.
The Merseyside club also disclosed that Farhad Moshiri and 777 Partners have reached a 75% takeover deal.
Moshiri would give up all of his 94% ownership of the company under the agreement, but if it goes through, Everton risk losing MSP’s support.
According to information provided to Football Insider, the MSP loan has a “recall clause” that entitles them to demand reimbursement of all monies in the event that they disagree with the club’s new ownership.
As reported by the Daily Mail, MSP have indicated that they “do not approve” of 777 Partners as owners and would consider calling in loans if the deal is finalised.
It is unclear whether 777 Partners would have the finances to both pay off Everton’s recalled loans and keep up with the club’s monthly payments and stadium costs.
Additionally, Everton has renewed a loan agreement with Rights & Media Funding Ltd, who also has a recall provision in their contract.
The 777 takeover agreement is anticipated to completion in the fourth quarter of 2023, according to the Toffees, but issues with loan terms could create delays.
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