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Post by rugbytoffee on Sept 14, 2023 8:54:48 GMT
Everton continue to be at the centre of plenty of speculation around a takeover by Miami-based 777 Partners.
It has been widely reported since Monday that the multi-club investors have been in discussions with Everton majority shareholder Farhad Moshiri over a deal to take control of the Goodison Park club. The group already have a number of football clubs in their portfolio, including Sevilla, Genoa, Hertha Berlin and Standard Liege. The Miami-based firm have been linked with the Blues since the beginning of the year, holding talks with Moshiri and his representatives before the Everton owner eventually went with MSP Sports Capital. However, the talks were resumed after New York-based MSP Sports Capital ended its exclusivity agreement with Moshiri last month.
'Takeover in doubt'
Andy Hunter of the Guardian reports: "Everton’s potential takeover by 777 Partners is also in doubt, although the club has secured a £100m loan to help fund the construction of their new stadium from MSP Sports Capital. The report then adds: "Whether Moshiri or 777 Partners will be in charge of Everton at that point remains to be seen. The two parties are in advanced talks over a takeover but there is uncertainty over whether 777, a Miami-based firm that majority owns five clubs, has the funds to buy out Moshiri and finalise the stadium project. As well as the £100m loan from MSP Sports Capital, Everton also have a loan facility with Cheshire-based Rights and Media Funding Limited that extended to £200m this year. Moshiri has invested over £750m in Everton since 2016 for little reward and is seeking to recoup much of that outlay.
"The Premier League introduced a more stringent directors’ and owners’ test this summer and, as well as looking into 777’s finances, would have to consider a 2003 drugs charge against co-founder Josh Wander. Wander, who was elected to the board of the European Club Association last week as a representative of Standard Liege, pleaded no contest to the charge 20 years ago."
'Concerns over ‘fit and proper’ owner rules'
Tom Morgan and Ben Rumsby report for The Telegraph: "The Premier League faces pressure from concerned senior figures in Government over Everton’s potential sale to United States firm 777 Partners.
"Farhad Moshiri is in advanced negotiations with the private investment group about ending his turbulent seven-year tenure as majority shareholder.
"No final agreement has been reached, but Whitehall sources have expressed doubt about 777’s suitability for ownership."
The report later added: "One source close to talks suggested a deal could be agreed this week, although another well-connected insider later played down the likelihood of an announcement being imminent. Both insiders suggested that Moshiri would remain open to a potential rival bid emerging."
'Everton takeover faces delay'
Martyn Ziegler of The Times reports: "Any takeover of Everton by the American investment firm 777 Partners is likely to be a lengthy process while the Premier League ensures that no rules on club ownership will be broken.
"There are numerous issues for the Premier League to consider concerning 777 and new rules on leveraged buyouts will apply after they were brought in for this season." The report later continues: "Those close to the process accept that the Premier League’s rules are considerably tougher than in other countries, and its lawyers will have to sift through a number of legal claims that have been made against the company and its subsidiaries, as well as a drugs case involving the co-founder Josh Wander who admitted in 2003 to having cocaine sent to him through the post."
'A lengthy investigation'
Dave Maddock of the Daily Mirror reports: "Farhad Moshiri’s hopes of a swift deal over the future ownership of Everton have taken a blow as potential buyers, 777 Partners, face a lengthy investigation to ensure Premier League ownership regulations are met."
The report then later says: "But strengthened Premier League rules give them the right to block deals if owners are under investigation for certain offences, including fraud.
"And it is understood 777 are still subject to active proceedings alleging such offences - though the company strenuously denies the allegations, which remain unproven."
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Post by halewoodblue on Sept 17, 2023 8:08:44 GMT
Bring them on. I don't believe the narrative being written about them.
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Post by evertonfan1968 on Sept 17, 2023 10:10:40 GMT
Bring them on. I don't believe the narrative being written about them. We'll find out soon enough but no new owners are going to spend loads of money on players like Moshiri did.
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Post by rugbytoffee on Sept 18, 2023 6:40:30 GMT
According to The Daily Mail, Everton's proposed takeover could now be under threat, due to lenders not being keen on 777 becoming the owners for financial reasons:
"Everton’s sale to Miami-based investment firm 777 Capital Partners is at risk of collapsing after it emerged that major lenders at the club are not in favour of the deal - and could call in loans worth £350million.
"Mail Sport has learnt that loans from MSP Sports Capital and mysterious media company Image & Media Rights contain ‘change of control clauses’. These allow the lenders to call in the loans if they don’t approve of the new owners.
"Sources close to MSP have indicated they do not approve of 777 Capital Partners and would consider calling in their loans. There are very real doubts that 777 Capital Partners could afford to pay off both loans in addition to taking on the club’s debts and stadium construction."
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Post by halewoodblue on Sept 18, 2023 21:25:38 GMT
Bring them on. I don't believe the narrative being written about them. We'll find out soon enough but no new owners are going to spend loads of money on players like Moshiri did. No that's definitely not happening. Stability, some squad investment and turning the commercial dept round would be a good start
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