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Post by Everton News. on Aug 24, 2023 19:21:20 GMT
EVERTON FAN ADVISORY BOARD (FAB) STATEMENT
The Club has confirmed to the Fan Advisory Board today that it continues to make good progress on securing complete stadium financing, and as part of this progress, it has secured a loan to support the development costs for our new stadium.
It was also confirmed to us that the majority shareholder has stated that he will continue to explore discussions on new investment, provided it is right for the future development of the football club.
The Club has assured us that they will provide us with updates on new investment when any discussions have progressed to the appropriate point.
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Post by Avinalaff on Aug 24, 2023 19:36:28 GMT
Everton appear to be back at square one with regard to desperately-needed change at boardroom level with the news that MSP Sports Capital have stepped away from talks around taking an equity position in the club. According to Matt Slater, Senior Football Reporter at The Athletic, the New York-based firm will not be following through on their proposed investment of up to £150m in convertible debt in Everton and their exclusivity period has now passed. They will proceed with a £100m loan to Everton Stadium Company Ltd. to help fund the next phase of construction at Bramley-Moore Dock but they will not be taking an equity position in the club which would have seen them install at least two directors on the Board. Slater claims that one of the stumbling blocks to the proposed deal came in the form of opposition from Rights Media Funding Limited, the offshore lender with whom the Blues have an estimated £200m in debt and who have "negative pledge clauses" which allow them to demand repayment of its debt before the borrower incurs any further debt. According to the report, that made MSP's proposal unworkable, with R&MF not convinced that they would be injecting enough capital in return for its planned equity position of 25%. That could leave the door open to 777 Partners, a Florida-based investment outfit who briefly emerged as the front-runners for a possible full takeover of Everton earlier this year but who faded from the conversation amid doubts over their ability to raise sufficient capital. 777 already back in the gossip.
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Post by jimmy on Aug 30, 2023 13:32:45 GMT
777 don't sound like the people we want involved at our club.
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Post by rugbytoffee on Sept 4, 2023 10:22:53 GMT
In a statement, Everton said that ‘good progress’ was continuing to be made on securing investment. It said: “The club can confirm that it continues to make good progress on securing the complete stadium financing,” Everton said in a statement on Thursday, “and as part of this progress, it has secured a loan to support the development costs for our new stadium.
“As the majority shareholder has stated previously, he will continue to explore discussions on new investment, provided it is right for the future development of the football club.” The Athletic reports that Moshiri is back in talks with 777 Partners, who held talks earlier this year. The Miami-based investment firm already hold controlling stakes in several clubs - including Italian side Genoa, Australian outfit Melbourne Victory, French team Red Star and Belgium club Standard Liege.
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Post by rugbytoffee on Sept 9, 2023 17:24:45 GMT
One of the owners of an investment firm eyeing up a stake in Everton has elected to the board of the organisation that represents the interests of European football’s top professional clubs.
Josh Wander, co-founder of US firm 777 Partners, has joined the board of the European Clubs Association following the organisation’s elective general assembly in Brussels, Belgium, on Thursday, where Wander was standing as a representative of of Belgian Pro League side Standard Liege, one of the numerous clubs in the Miami-based firm’s sports investment portfolio.
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